“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
- where did it fall to?
- we are now folding down into the 1993 low.
- 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.
- we are now folding down LEFT-RIGHT into the 30 year trend line, the .786 retrace and the .886 retrace
- go RIGHT- LEFT from 2001-1993 and we go UP the blue arrow.
- 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
