Monday, June 22, 2009
Still Waiting for Direction
GBP USD is still in a range between 1.58 - 1.667. The current inversion time period for ITD and MTD make it hard to project with a high degree of confidence. Will wait for several more days. I am currently still leaning on the bearish ITD 11 inversion. If MTD 1 and LTD 15 have arrived at ITD 11 (1.667), then per Delta rule, it's quite natural to expect ITD 2 low to arrive later than the average turning date since the MTD and LTD are travelling down.
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5 comments:
Hi C, thanks for the update. The turning point is painfully awaited....
Hi yolanda,
Yes, it's quite painful when it comes to inversion period, especially in this case we have inversion for both ITD and MTD. Inversion and double inversion possibility could be endless, and unless we pass through this period, my guess is as good as anyone's.
If more days have passed far enough from the average turn date, even though there's no break either way (1.58 or 1.667), I will try to update the count.
Hi Cmellon
i just want to say thanks for your update. Its great as always to read your analysis.
Hi Cmellon,
Did you find/solve your own turning points for GBP/USD and GBP/JPY. Or are these turning points the ones solved by Delta or Market Matrix.
Thks
Kevin L
Hi Kevin,
I solve it myself. It's solved in real time and I update when I am pretty sure about certain developments.
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