1.29 is a TD ABCD W2 level. If it doesn't work as a solid support, we will see Cable below 1.28 very soon.
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MA
MarcinO
Rep: 67
Posts: 5,506
Last week I expected a sell-off of the Pound against USD, but it went down 100 pips more than I dreamt about.
1.29 is a TD ABCD W2 level. If it doesn't work as a solid support, we will see Cable below 1.28 very soon.
1.29 is a TD ABCD W2 level. If it doesn't work as a solid support, we will see Cable below 1.28 very soon.
RA
rat89
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Posts: 7,015
spx 60:
From the end of major [3] at 2193, there was a major [4] pullback to the .382 area The start of major [5] looked weak, formed a potential bear flag that threatened to break down, and didn't.
Looking ahead, wave major [5]=[1] at 2429
In the event of an ending diagonal, [5] must be > than [3]. [5]=[3] at 2321. Above that, and it's not an ending diagonal. [5]=.62*[3] at 2244, and [5]=.78*[3] at 2276
From the end of major [3] at 2193, there was a major [4] pullback to the .382 area The start of major [5] looked weak, formed a potential bear flag that threatened to break down, and didn't.
Looking ahead, wave major [5]=[1] at 2429
In the event of an ending diagonal, [5] must be > than [3]. [5]=[3] at 2321. Above that, and it's not an ending diagonal. [5]=.62*[3] at 2244, and [5]=.78*[3] at 2276
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DU
Duane
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Posts: 1,095
Has to break trend lines before I become bullish.
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DU
Duane
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Posts: 1,095
Possible Retracement, however last move is very bullish.
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DU
Duane
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Posts: 1,095
The proportions of the retracement is steep and the time is very short, so additional retracement should be expected. Trying to look both ways Rat !
DU
Duane
Rep: 100
Posts: 1,095
So if this is a classic ABCD correction with the an ABCD in the BC leg this is what it could look like,
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