man, I love this chart …

“should I stay or should I go …?”

check it out … the POUND is furiously getting liquidated and, well, for the global economy that ain’t good folks.

trust me, the options on FB or AMZN and blah blah can make you a lot of money but when the currencies are rolling – like they are now – it’s the shifting of the seismic plates folks.

Pound:

  • testing a 30 year trend line from 1985. Note, it caught the 1985 and 2007 plunges. Is it going to catch this one?
  • the highlighted blue rectangles show an EXACT price pattern.  they are “mirror images” of each other.
    • go RIGHT- LEFT from 2001-1993 and we go UP the blue arrow.
      • we are now folding down into the 1993 low.
        • where did it fall to?
          • the .886 retracement
    • fast forward to 2009-2016 and we go UP the same amount.
      • we are now folding down LEFT-RIGHT into the 30 year trend line, the .786 retrace and the .886 retrace
        • “one” of these should hold the pound for a powerful move.
  • remember, from failed breakout/breakdown levels come POWERFUL moves …

Let’s PLAY the IF-THEN ….

IF the pound respects one of these upcoming levels as support THEN we should get a very nice BOUNCE (800-1000 pips?)

IF the pound does NOT respect these upcoming levels as support THEN we might have another currency collapse unfolding.

Let me know if you have have any questions.

B

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