Bank Holiday here in the UK and the sun is shining for the 3rd day on a run. So, I'll post this and off out for the day. In the first chart, the 100 day cycle is due a low (see red circles in sub chart) and the consolidation pattern is occurring after a great run down (which I called the turn too) and the proximity of both the 25Day(green) and 400day (purple) FLDs provide a rather enticing opportunity to pick up something that sticks to the upside, early.
I have been averaging in through this pattern and either count it as an contracting or expanding diagonal depending on where price goes from here. I have shown both counts as I am running them now. I think there is an easy 100-200 pips from somewheres down here, and more if matters get past those FLDs.
I have been averaging in through this pattern and either count it as an contracting or expanding diagonal depending on where price goes from here. I have shown both counts as I am running them now. I think there is an easy 100-200 pips from somewheres down here, and more if matters get past those FLDs.
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