This top is wearing off slower than expected.

I looked back some history, and could not find a one day 200+ pips candle coming off of a lower low (not even from beyond 4.5x stretch). The 16-EMA still has not been reached.

However, I think the diagonal red plot is right for using the low as a starting point from 2 days earlier. There could be a higher high in the coming days, but typically not more than 15 pips extra.

Now with the full consolidation the Pendulum’s origo was reset near the previous high leaving room for an extension-move.

I’m showing an open top print (purple diagonal), and the M.O. is 3 more attempts to go higher and two marginal higher highs in total.

In terms of a possible time out: to show any intent, you would need to see a 3-4 pips beat within 37 hours. If no higher was made by hour 53, go short with size.

After that, there would be a move to the 100-pip stop (2nd image) which would be pulled higher by the number of pips they would manage to tag on.

I do not get the sudden rate-cut argument at all in this relative game; first of all it has not happened yer, and if it does, do you think Europe and the rest of the wotld would not be participating in the race to the bottom? BOE is taking charge already.

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