According to my count, all short term bullish positioned traders should cover their positions.
I will cover my point of view with some examples.
First one shows my count, i changed at the last moment yesterday.
Second one hsows how low is the daily volume. If tomorrows sessions make similar or lower volume, we should expect dropping down shortly.
The third chart shows us how the price has reached 50% of Fibonacci retracement of all downside move since October 2007.
On fourth chart we see that wave (W) is equal to wave (Y) by size.
After all charts i can not confirm beginning of Primary wave 3, because i want to see more confirmations about it. But i think we have to expect short term bearish movement and want to see will the support levels resist i pointed. Later today i intend to post few more charts for European market probably , so be in touch.
Good luck!
No comments:
Post a Comment