It's a little bit premature to post these charts, but if we can get a daily candle close above 1.647 today, there's a good chance that ITD 6 low has already IN at 1.634 yesterday. Attached is Delta Chart and Elliot Wave chart (credit EW count to Jamie Saettle from DailyFX).
3 comments:
You are all over the place. On your previous Cable post you didn't even have the conviction to post your MTD points. Stop following Copan and do some work om your owm. FYI LTD 7 and 8 are both in on the MTD double inversion
Mispost - LTD 15 & 16 are in on MTD (12) & 1. SLTD 7 and 8 are in on the same points. (Not LTD as I previously posted)
SLTD 1 is not due until the end of the year but could well come early as we still have a final 5th wave down below 1.3550 to complete. that will tie in with the equity fall that will occur later in the year. I'm looking for the turn to come at LTD 17 or possibly an inverted LTD 18.
Hi Anonymous,
You are right that I did not have conviction in my prior post about the MTD position. But I have been saying that ITD 6 low position (whether above or below 1.5982) will clarify MTD and LTD rotation.
Check out my previous post:
http://cmellon-deltatrading.blogspot.com/2009/07/gbp-usd-itd-rotation-seems-to-get-clear.html
This is obviously no brainer. If it's above 1.5982, then MTD is definitely travelling up, and so is LTD.
Why do you say I follow Copan? Do you realize when I posted the chart?
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