A possible scenario for the Cable trade for weeks to come.
I believe recent retracement is dead cat bounce / corrective wave before October Brexit like FED raised rates after 2008 to only lower further.
I am expecting the Cable to reach point "C" of Elliott Corrective wave / 50% of FIb, from high of this year.
I believe run to point "A" is now completed, We may see a retracement to supply zone (B) then head to (C).
GL traders, may trend be with you.
I believe recent retracement is dead cat bounce / corrective wave before October Brexit like FED raised rates after 2008 to only lower further.
I am expecting the Cable to reach point "C" of Elliott Corrective wave / 50% of FIb, from high of this year.
I believe run to point "A" is now completed, We may see a retracement to supply zone (B) then head to (C).
GL traders, may trend be with you.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.