Well as I had posted earlier I was is the thought that cable would start the B leg of this retrace it is in. Wave A actually gave another run up to 1.6466 wow! Of course my stop was taken out for a 70 pip loss. Basically what I did was jump the gun early and wave 5 of my A leg ran up to hit the M3 daily pivot point. I do believe that price will retrace in 3 waves to the 1.6300 level before starting Leg C which will be a 5 wave move up to 1.6500 level and if price hasn't finished it's 5 waves at this point then I look for it to go to 1.6740 level to test the 9/11/09 high. I am currently in a short from 1.6346 with a target at 1.6300. My stop is 1.6420.
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