Starting it off.
Al
MA
MarcinO
Rep: 67
Posts: 5,506
Cable (6B Z7) is not very harmonic, but I guess it will hit. 1.355, 1.3195 or even 1.3250-70.
Futures is being traded about 15 pips higher than spot now.
Futures is being traded about 15 pips higher than spot now.
Click image for original size
MA
MarcinO
Rep: 67
Posts: 5,506
60 pips day so far. I am waiting for one more leg up to one of the two lower areas mentioned above.
RA
rat89
Rep: 0
Posts: 7,015
Al,
I have started adding a red set when there is a sliding parallel and price does an overrun of the line of the set in play. Interesting that the external retrace at the first high is 1.46, and that so far the external retrace at the high now is basically at 1.46 of the prior swing, not the bigger swing.
I have started adding a red set when there is a sliding parallel and price does an overrun of the line of the set in play. Interesting that the external retrace at the first high is 1.46, and that so far the external retrace at the high now is basically at 1.46 of the prior swing, not the bigger swing.
Originally posted by albert
rat,
Cool .
Al
MA
MarcinO
Rep: 67
Posts: 5,506
The second area was hit yesterday evening.
I guess, we have to wait for a correction to 1.3110 before the next leg up to mid 1.32's starts, but one needs to be ready to go long any time today.
I guess, we have to wait for a correction to 1.3110 before the next leg up to mid 1.32's starts, but one needs to be ready to go long any time today.
Originally posted by MarcinO
Cable (6B Z7) is not very harmonic, but I guess it will hit. 1.355, 1.3195 or even 1.3250-70.
Futures is being traded about 15 pips higher than spot now.
Click image for original size
MA
MarcinO
Rep: 67
Posts: 5,506
Cable is falling slowly, as expected, but still almost 50 pips above the area.
AL
albert
Rep: 99
Posts: 3,094
rat,
Interesting. Cool work.
Al
Interesting. Cool work.
Al
Originally posted by rat89
Al,
I have started adding a red set when there is a sliding parallel and price does an overrun of the line of the set in play. Interesting that the external retrace at the first high is 1.46, and that so far the external retrace at the high now is basically at 1.46 of the prior swing, not the bigger swing.
Originally posted by albert
rat,
Cool .
Al
AL
albert
Rep: 99
Posts: 3,094
Originally posted by rat89
yeah, your B looks like a (1) and your C looks like a (2). Next move up looks like a wave 3
rat, I appreciate your comments! Al
Work in progress. If this wave count is correct, then IMO GBP.USD is now in a corrective mode, and I have not analyzed that yet. I think it is an ABC correction in the form of a five step Wave A, a 3 step Wave B, and a 5 step Wave C. I will post that later.
Click image for original size
Al