Cable Is In A Correction Within Uptrend
Cable made five waves up from the 1.0353 lows, which suggest that bottom is in place from Elliott wave perspective, but more upside can be seen after a corrective pullback.
We know that after every five waves market slows down for a three-wave setback that is now underway. Probably the pair is going to form an A-B-C flat correction, currently trading in wave B rally that can stop at 1.16-1.17 resistance. Ideal support for the whole correction will be at 1.08-1.06.
Trade well!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
We know that after every five waves market slows down for a three-wave setback that is now underway. Probably the pair is going to form an A-B-C flat correction, currently trading in wave B rally that can stop at 1.16-1.17 resistance. Ideal support for the whole correction will be at 1.08-1.06.
Trade well!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
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Learn Elliott Waves
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👉 bit.ly/3FVPVzO
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Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.