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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MarcinO
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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.
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MarcinO
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You were right Duane. They want to test low 1.29's, I guess.
Originally posted by MarcinO
That is why I am thinking about 1.32 so much.
Hitting this level may also mean a deep barish correction, but that makes me be a bull right now.
Originally posted by Duane
Has to break trend lines before I become bullish.
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MarcinO
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Ok. Low at 1.2932, obvious TL hit. Time for reaction - at least for today, I guess.
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rat89
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yes. Remember my bear scenario post? That doesn't get invalidated until a break of 31.79, though a major [2] move up in a new primary down move would tend to target .618 at 29.26 or .786 at 30.37 before turning down.
In the larger picture, your other chart shows why I'm long term bearish, once this move either ends up around 35 - 40, or possibly ended at 31.79. My gut kind of says there is a big game of chicken going on, and the dollar falls, and oil and gold go up in the next couple of months. Ever interesting....
In the larger picture, your other chart shows why I'm long term bearish, once this move either ends up around 35 - 40, or possibly ended at 31.79. My gut kind of says there is a big game of chicken going on, and the dollar falls, and oil and gold go up in the next couple of months. Ever interesting....
Originally posted by Duane
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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