Cable has become pretty much ranging this week and temporarily lost its clear trend. Hence, I concluded that these movements were all part of a corrective wave, altho cable might prove me wrong next week. If this wave count is true, cable will resume downtrend as impulsive wave 3 next week. Just my opinion.
PS: The fibo in chart was taken from the high 1.9915 to the end of wave 1 or A at 1.9556. Imo prices have been following these fibo lines quite nicely so far.
PS: The fibo in chart was taken from the high 1.9915 to the end of wave 1 or A at 1.9556. Imo prices have been following these fibo lines quite nicely so far.
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