Elliott Wave Forex

Cable unfolded downwards confirming the alternate count and -so far- Cable fell short of the first target by 9 pips.

Today`s main count expects Cable to unfold upwards in a corrective manner while the alternate count expects Cable to resume its downtrend immediately.

As always, we will wait for either count`s confirmation point to be reached to determine the highly probable count.

N.B.: My apologies for the delayed publishing of today`s analysis as I had problems with my internet connection.
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In the previous analysis, we expected one final push upwards to complete the counter-trend advance. Cable unfolded exactly as expected and moved sharply downwards. Cable`s mighty 283 pips decline exceeded the second target by less than 3 pips -by taking the targets of the alternate count as a reference-.

Both counts expect Cable to create lower lows. The main count expects a counter-trend setback before resuming the downtrend, while the alternate count expects an immediate bearish outlook.

As always, we will wait for either count`s confirmation point to be reached to determine the highly probable count.
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Cable unfolded upwards confirming the alternate count and Cable fell short of the first target by a fraction of a pip.

The main count expects one final push upwards to complete a counter-trend advance while the alternate count expects that Cable is about to reverse directions and unfold downwards in an impulsive manner.

As always, we will wait for either count`s confirmation point to be reached to determine the highly probable count.
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Cable traded in a tight range leaving both counts valid, we continue to favor the bearish view as long as Cable continues to trade below the alternate count`s confirmation point.

Movement below the main hourly count`s confirmation point increases the probabilities of the bearish view.

As always, we will wait for either count`s confirmation point to be reached to determine the highly probable count.
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Cable unfolded upwards confirming the main hourly count and both targets were reached and exceeded the second target by 3 pips before reversing directions.

Cable`s three legs advance, suggests that upwards correction is likely mature. It is early to judge the completion of the upwards correction. However, higher highs -if any- should prove limited.

As always, we will wait for either count`s confirmation point to be reached to determine the highly probable count.
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Cable continued to trade within a tight range, leaving both counts valid. The nature of the sideways consolidation favors the upwards correction interpretation -as we will soon discuss-. Main hourly count expects Cable to extend its consolidation while the alternate count expects a sharp decline.

As always, we will wait for either count`s confirmation point to be reached to determine the highly probable count.
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