What a day!
Cable has been all over the place today, starting the day by unfolding upwards -where short term and mid-term targets were met- to complete wave 2 blue before reversing directions and losing a whopping unprecedented 1790 pips in less than 6 hours.
From an Elliott wave perspective, a third wave might be underway. That suggests that Cable has more to offer downwards and that is exactly what we are going to discuss on the main chart.
Today`s alternate daily count expects an ending diagonal to complete and that Cable is within the very early stages within a first wave of primary degree.
As always, we will wait for either count`s confirmation to be reached to determine the highly probable count.