Feb 19, 2010

AEX - To the horses!!!

        As you've noticed, I prefer to analyze and trade not as "famous" instruments, as DJIA or SPX ets. Why? The answer is - there is a lot of "noise" there, because they are the most traded instruments in the world.
        Isn't the most important thing for us- the "market speculators", to find out where are the most reliable patterns, and signals to trade or invest in ??? . Most important thing for us is to make cash, alongside with satisfying our EGO, make us feel proud of our selfs.
        I can assure you, there are many not so "famous" instruments, who paint very clear and reliable wave patterns, and give reliable signals, worth to be traded. It doesn't make sense to follow, and chase only one instrument, wherever it goes.
      Few years ago I had such a bad experience, when I was chasing only one.Then I felt I had the duty to be in the GAME all the time. Suddenly one day I found my trading account empty. That is one of my stories.

My preferred count about AEX is 5 waves as an "expanded leading diagonal". Alt one is for a complex (W)(X)(Y). One"zig-zag" is completed and (C) wave of the second one is underway.
           The current move has corrected the pattern to 38.2%Fibonacci, which forced me to open short position. The red bear line stopped the price about now. The first target is around 301.50. If the price action breaks 296.36 resistance, the bears could lead  the price to 286.50, where is my second target.
                                                                Good luck!!!
      

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