Wednesday, December 30, 2009

Dec 30: GBP USD - ITD 9 low and MTD 8 low should be IN soon



ITD 9 low and MTD 8 low will be both IN very soon. We are in the turnaround time period now. We could be a few days late which is perfectly fine by Delta rule, especially if LTD (18) was due at MTD 7 high. This is currently my preferred and main LTD and SLTD count, which shows that both LTD and SLTD are currently travelling down, and thus ITD and MTD are normal to be late for a few days when the higher time frame is travelling down. My chart shows that ITD 9 low average turnaround date is on Monday Dec 28. ITD normally has +/- 1 to 4 trading days standard deviation.

Once MTD 8 low is IN, a look at the two previous MTD cycles show that MTD 8 - MTD 9 could be as long as 50 calendar days and as short as 17 calendar days.
 

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