Tuesday, February 2, 2010

One more short at least

Here is the scenario. If price breaks 1.5951 before it breaks 1.60064 it should trend short to at least 1.58640. Once again, for the daily chart triangle scenario to remain in tact price can not break 1.5706 to the short side. If price then moves decisively long after touching the trend line at 1.5855 to 1.5864. That will most likely signal the end of the c (circle) wave of the daily chart triangle. Price should then trend long to above 1.6600 to make the d (circle) wave. The d (circle) wave should take many days.

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