I expect long term (M) 5th wave low to take place sometime next year.
Trade active:
14.11.2022. There are no meaningful ways to identify the position of institutional traders to the required degree of certainty. In my opinion - Central Bank of Kuwait has altered the weight of GBP in the KWD basket algorithm. I still believe that the September low will be revisited sometime next year and no later than Sept 22 plus 16 months. The longer the stretch - the better the ride on the way down. We can continue to use GBPUSD as a good proxy. Wait for 1.22 before looking into the GBPKWD again
Comment:
On this leg up (M) - Likelihood of GBPKWD breaching 0.400 is very low. Plan is to start selling GBP after 0.3870
Comment:
Last position long will be at 0.3705