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MarcinO
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Posts: 5,506
The Cable stopped at 1.5023 exactly at intersection of two key lines from weekly/daily timeframe,
That might be it for a couple of days, but I wouldn't exclude further move down to about 1.1460-70, so as to hit obvious SL, before some correction.

I'm looking at 1.5140 and 1.5220-40 levels as interim AOCs for bearish correction.

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6b 2015 11 08 2 png



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MarcinO
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High of the move for the Pound at 44. Time for some ranging, I guess.
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MarcinO
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55-60 should send the Pound up, probably close to the overnight high at 1.5244. Alternative area is at 30.

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6b 2015 11 12 png
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MarcinO
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1.52 and down?

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MarcinO
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The problem with Cable is that really smooth moves happen during Asian session.
Strange.
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MarcinO
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52 hit, reaction, over an hour of sideways action then... the whole Cable.
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MarcinO
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Six hours of sideways action. Piece of...
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MarcinO
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Outbreak. 1.5230 may send it down again.
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MarcinO
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Final push now?
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MarcinO
Rep: 67
Posts: 5,506
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MarcinO
Rep: 67
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Nice initial reaction. Time for 1.5155-60?
That would line up with my assumption posted yesterday, that we will see overlapping swings of about 60 pips.
JI
jimkane
Rep: 3,058
Posts: 33,089
I actually logged back in to make one more post. Look at how the ES finished in the little after futures Friday session! Another dump down, closing just off the new LOD, which was set at 2011.50! Sure, 'they' may come in like gangbusters on Sunday, but wow, is this weak. That change in tenor I got, it was no joke. I am so glad I posted that when I sensed it. I think the 1950's might be next.