Possible GU Structure Ahead

Retracement into BoE Thursday, then maybe a 5th wave down toward the current 2018 low. $DXY $EURUSD $GLD $GDX $SLV

Comment:

Bad EUR GDP Numbers taking it down a little more in sympathy.

Comment:

Watching what GU does here on Month Camarilla S4 and Week Camarilla S3.

Comment:

GBP seasonality could follow EUR to mid-November bottom after wave 4.

www.mrci.com/client/spmarket/bpd.php

Comment:

Starting short at 1.2950

Target maybe 120-150 pips down. Unclear if we revisit the 2018 lows.

Comment:

Whoops wrong picture above!!

Comment:

Added more short today in a bigger way. I am under water at the moment but I believe it is a sound trade. We managed to make it all the way back to the base rail of the descending pitchfork... unbelievably. This is a simultaneous resistance zone of the Year CAM R3 and Year Pivot. There are some month pivot backtest targets that I am looking at to get out of this trade... however we may see a full 50% retracement from the low to the high this week.