Update on my GBP USD Delta chart.
ITD is travelling up to ITD 7 due on average on Dec 8. It may reach as high as the trend line resistance (1.68) per the ITD chart attached.
As I said before, MTD outlook seems to be the clearest IMO and it's travelling down until around end of December. Since MTD is down, ITD 7 may be due earlier than Dec 8. I will try to short cable with stop loss above MTD 7 high at 1.688.
Once this ITD upmove is completed, we shall go down lower than 1.6270
2 comments:
Hi,
Do you think we've already reached ITD7 last week ? Or do you expect we'll get higher on Monday-Tuesday ?
Thanks,
Ami
Hi Ami,
I think it's already reached on Dec 2 (4 trading days earlier) at 1.672.
Please note that there are at least two possibilities with regards to ITD position, but the MTD position is more clear and it's most likely travelling down.
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