Friday, January 22, 2010

Expandig Diagonal. Last wave long

Last night worked out well. Triangles are so easy to trade. I love them. I have relabeled the chart i have posted before. I believe the structure that is developing since 12/30/09 is an expanding diagonal. If this interpretation is correct, this is the fifth leg and should be very easy to trade because expanding digonals ALWAYS end beyond the third wave. In this case the one marked wave .iii . This means the new long move should end beyond 1.64573 with and ending target of at least 1.6638 and probably stay within the upper trend line. The last part is not required, just the 1.6638 target.



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