[B]Commentary:[/B] The near term pattern in Cable has cleared up and we think it likely that price action from the 7/29 low at 2.0181 is part of wave B in a large A-B-C correction from 2.0654. The B wave could play out as a triangle or a flat. If a flat, then price is likely to test 2.0399/2.0418 in the next day or two (flat scenario is shown on the chart today).
This is the 100% extension of 2.0181-2.0378 / 2.0203 / 50% of 2.0654-2.0181. Coming under 2.0181 negates this scenario and exposes 2.0056. [B]Strategy:[/B] Flip to bullish (previously bearish from 2.0327) against 2.0181, target 2.0400