The pound future retraced 76% of the major selloff last week. So far the highs from yesterday have held. Could this be the start of Wave 3. Following Elliott wave theory, Wave 1 was the initial selloff, wave 2 is the retracement(wave 2 usually retraces a significant portion of wave 1, and wave 3 could be on the horizon. I will wait for todays data to show face before I commit to this hypothesis. Remember, wave 3 is swift, fast, and the largest impulse wave!!! or the money wave!!!
No comments:
Post a Comment