While a lot of traders are longing cable, I have certain doubts and earlier posts were consistent with the view today.
I see a clear flat structure, having 3 -3 waves in A and B, and the current impulsive move up is consistent with this assumption.
An ending diagonal may be already in place, but, I guess, it will take more time to complete it.
Wave C travelled almost 162% of the distance based on the length of wave A. On of the key levels typical for these corrective patterns is met.
If price makes an impulse down, followed by a three wave pullback - typically - a flat structure, then I will definitely short it.
Good luck!
I see a clear flat structure, having 3 -3 waves in A and B, and the current impulsive move up is consistent with this assumption.
An ending diagonal may be already in place, but, I guess, it will take more time to complete it.
Wave C travelled almost 162% of the distance based on the length of wave A. On of the key levels typical for these corrective patterns is met.
If price makes an impulse down, followed by a three wave pullback - typically - a flat structure, then I will definitely short it.
Good luck!