Panos asked me for my short term view on Cable.
I think we have wave D of the major B-wave triangle in place at 1.6256. From 1.6256 we have seen wave i and ii likely ended at 1.6236 and I will now be looking for a impulsive decline towards at least 1.5668, which a break below 1.6133 will confirm.
However, if we does break above 1.6256 I will move the ending point of wave D to the new high. Even though E-waves of triangles can be sub-normal I do think that the consolidation we have seen since the top at 1.6256 will be unproportional small in respect to the prior wave D.
Thank you very much for your quick reply..I appreciate it a lot..
ReplyDeleteBest regards,
Panos