The Pound may need one more move up to 1.5170-80 before a larger move down.


After that a further move up cannot be excluded to 1.5270 - 1.53.

Let me caveat the post about the long side. I am cautiously looking for a bounce in here. I am hoping this just flushes down and takes the big TL out, but I expect more of a battle if that's on the table. Hence, I'm looking very short-term for a bounce.

But I totally see the possibility of this just grinding down more. Hence, the caution.

Now, or more oscillating first?

So crude prints a 36 handle. Getting very close to my dream area. Here's an article saying why $20 may be on the table. You can skim this, or even just read the highlights if you aren't a crude 'fundamentals' aficionado.

http://www.zerohedge.com/news/2015-12-08/why-20-oil-possibility

Is that it for the bounce? Just a little bit bigger correction in the downtrend off the HOD pop?

Hopefully this can get to flushing, and swelling those remaining puts.

I'd like that, but I suspect it's just a 'test' below the swing-low there, and then back up in more chopping oscillation. We'll see, though.

That was pretty easy to see coming...

Next pop now?