Cable Update March 11, 2009

The cable is following EW to the tee and has been for a while now.

We went long yesterday and hopefully this turnaround will last for a while.
The flat scenario will put us at 1.49 and change.

If I look at the MACD and see the last similar move it gained about 1100 pips.
That would put us in the 1.48 area and change, so a flat is very possible.
Also, a Head and Shoulder pattern maybe forming, keep a lookout.