Quote:
Originally Posted by tacamonchi
CMellon, does your chart show the possibility of it breaking 9455 and going down to 9360? or will it need to bounce off 9455 and then go down to 9300? Aug 15 is a week away, so if we reach 9455 this week, then does your chart show the possibility of it reaching 9300s before aug 15? sorry for all these questions but i think as we reach the TP of delta, you could guide us to navigate our shorts and longs in this "unknown area."
|
The chart I have shows the triangle EW pattern, which is the commonly believed pattern by Ellioticians regarding GBP. However, since Delta point won't be due until Aug 15, it's possible to reach even lower since Delta direction is still down. If that happens, how would that fit into the EW pattern, I have no idea, I will leave this to the EW specialist. Aug 15 is usually has some standard deviation 1-2 days. I can't comfortably go long before Aug 15 is due, unless it's with tight SL and immediately move SL to break even. 9455 should offer some good support, hopefully.