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Earl Adamy wrote:
> I have the daily BP combined sessions, unadjusted perpetual in a bear trend
> without a significant time target until 22Nov. OBV is confirming the
> decline. I don't see anything at the moment which would entice me to go
> long. I have JY weekly at a probably w5 termination of the bull trend and
> very significant time targets this week. US$ shows mixed trends on daily and
> weekly, however daily shows US$ in a very strong w3
> rally.
>
> Earl
>
>
>
> > Hi RT's,
> >
> > I see the Dec. British Pound ending it's correction here, and beginning a
> > sharp 3 week rally to 16900.
> >
> > My analysis:
> >
> > Cycle bottom due Nov. 5-8. Cycle top due Nov. 26-29.
> >
> > Terminal weekly swing bottom on July 9, 1999 at 15496. Penultimate weekly
> > swing top on June 11, 1999 at 16198.
> > Weekly swing target = 16198 + (16198 - 15496), = 16900.
> >
> > Terminal daily swing bottom on Nov. 8, 1999 at 16144. Penultimate daily
> > swing top on Nov. 3, 1999 at 16520.
> > Daily swing target = 16520 + (16520 - 16150), = 16896.
> >
> > Bull market retracement:
> > Terminal swing bottom on July 9, 1999 at 15496. Terminal swing top on Oct.
> > 21, 1999 at 16798.
> > Correction target = 50% x (16798 - 15496), = 16147.
> >
> > I always enter and exit 1 tick before my targets, and also 1 tick before
> > round numbers.
> > I placed a buy order at 16152. The low on Friday was 16150, and today at
> > 16144, and as a result, I'm long.
> > My stop for the moment is at 15984, and I plan to raise it in the near
> > future.
> >
> > The cycle analysis is my own derivation, but loosely based on Welles
> > Wilder's Delta Phenomenon.
Greetings Traders:
Based on my wave analysis, I originally labeled the 07/09/99 - 10/20/99 uprise
as an impulsive 1-2-3. However, the current downmove has already surpassed the
high of 08-04-99 (Labeled A). The implications of this is the 07/09 - 10/20
uprise cannot be an impulsive 1-2-3 anymore. With the overlapping of the
08-04-99 high, the recent uprise has to be labeled as A-B-C instead. This wave
counts also implies that the Pound is in the process of an impulsive DOWN move
towards the first target at 1.605, break of said support will drive cable
towards 1.5800 levels. If this wave counts are validated, cable will ultimately
break the low of 07-09-99 (1.5470). Regards.
N/B: Thanks BobR and Jim White for the insights on the Midas methods. The
real-time OEX .gif of the Midas indicator was very 'interesting' indeed.
Regards.
Have a good one
Jeff Harteam
Hong Kong
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