another forecast

Hi Everyone

I have done another Elliott based forecast on Cable . Its based on the four hour/ daily chart and again, as with the Cad, its favouring $ strength. Probably not tomorrow. Read below very carefully please.

Its far far too early to do anything and as I have shown, cable can easily punch to 1.5020. The equidistant channel that I have drawn, shows resistance at the 50 % retracement at 1.4870. Cable can easily hug the channel up to 1.5020. That is a mighty round number. At the o.618 level it would be a perfect Gartley 222 short.

Those of you who have taken my class will be able to construct my TIME LINE. It says the top of this thrust up, ie wave C, if my count is correct, will occur at 0400 GMT on the 18th of June.

This points to the 0.618 retracement at 1.5020 being THE LEVEL. Lets trade the market not the forecast. Trading the four hour chart needs lots of patience. I was guilty of rushing the CAD yesterday and paid the price.

Anyway its late here in South Africa and very cold. Its a holiday here tomorrow but I will be trading the morning session at least.

I am off to bed .

I will be back at 0800 GMT

Have fun

David