It has been a difficult few weeks for me to do a Delta count on Cable. Sometimes that's how life is, and I try not to force a count which I am not really sure of. The best way for me is to observe the market until I feel that I am in sync with the market again.
I don't really want to chase this risk appetite rally. I have been flat in FX for a while, and yesterday I have just sold another good chunk of my stock that I entered in January of this year. Sure equity and high beta currency could keep rallying from here just like many analysts said, but I'll just stand aside and not participate in it.
With that said, attached is my attempt to do a Delta count for cable. If this count is correct, then I expect sterling to keep grinding higher in the next few weeks up to ITD 6, perhaps not in straight line, but a gradual grind. I would attempt to build some short position around Nov 27
4 comments:
Hi, I've been a follower of your delta trading style. Do you have some time for me to ask you a few questions regarding Dynamic Trader Software ?
Hi jlee,
Of course, please ask your questions
This sure has become a nasty one to count eh? An alternate I have is that the 17 you have is really the 15, having 4 ID2 points going up to it(but one is an inversion) I am going to stick to this one if we can't break the 1.7 high. I also think we'll see some major market turns when we put in this STD 6 point.
Hi C, now that cable completed themove down to about 1.628 do u think ITD 6 is in place or do yoiu think its lower than that. cables at 1.645 now. thanks
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