Cable has the wave 4 completed?

[babyfxtrader]

mind my noobiness...
looking at the daily charts back from oct '06, i noticed the wave pattern. if i'm looking at it correctly, the last wave from december 5th till 10th is showing another reversal today. do you guys think the wave 4 has completed?

2nd question then, noticing also that the stochastic is around the middle region at about 50, and rsi also around middle region, will it be able to break the recent high of 1.9850?

ideas? feel free to butcher my interpretation

[elang]

Originally Posted by babyfxtrader

mind my noobiness...
looking at the daily charts back from oct '06, i noticed the wave pattern. if i'm looking at it correctly, the last wave from december 5th till 10th is showing another reversal today. do you guys think the wave 4 has completed?

2nd question then, noticing also that the stochastic is around the middle region at about 50, and rsi also around middle region, will it be able to break the recent high of 1.9850?

ideas? feel free to butcher my interpretation

Butcher, Butcher, Butcher ....

"Just to re-cap on the Elliot Waves for those of you who use them as a guide:

1. .9177
2. .8835
3. .9846
4. .9263 (Correction: abc X abc) with X @ .9747
5. .9913

There are 2 scenarios from here onwards.

1. The decline from .9913 is Corrective wave A in the forming

OR

2. The decline from .9913 is a small correction after which wave 5 will resume for a possible break of .9913 with a target of 2.000 (AFTER WHICH, we will have a logical correction take place in the form of ABC or another variation."

FOR MORE:
http://www.babypips.com/forums/free-...ng-system.html

Regards,
E. Lang