Pinned straw:
I have been watching CAT for a while now and is finally getting close to my buy set up so thought I would up date you all. So far it has performed perfectly to my target zones and is behaving to my Fib levels spot on. Today it should reach the upper end of wave (i) on the chart @ $1.25 and the retrace to approximately the 1.03 - 1.07 zone for wave (ii) before starting the next large wave (iii) taking us up to the 1.50 - 1.64 zone of wave (iii). Ill update you all when it reachs the wave (ii) zone on my thoughts then although I will be looking to enter around there with a hard stop just below.
This is quiet usual to see after the 5th wave up an ABC structure form to reach that bit higher. Its now hitting the top of the trend channel shown in my last post for Cat and has formed a decent pin top bar this morning. If it remains this way by 4pm today we should see the C wave down start on Monday to my target shown on my last charts. Then Ill be looking to enter just riseing of the next target zone and placing a stop just under tht low.
Noticed CAT was up over 10% today on ... no news ... I can't see anything reported anywhere which would explain the price action?