Apr 15, 2013

Short term update

UPDATE: It is a little bit to strong this move to be wave 4 it could be a-b-c and we saw wave a. If it will move lower now is the moment after retest of EMA50 on the hourly chart. Stop is now at 1574 1 point above the high till now.

UPDATE: short at 1569...

UPDATE: Now the system issued sell signal... at 1560

UPDATED chart - it looks like wave 3, small bounce and one more move lower to the next support level 1530-1540. I say we saw the top and the correction has begun. If this move is reversed again I will shoot myself:)

The move last week was definitely exhaustion as I have suggested. It is 100% not the start of a new rally, a trap nothing more. When you have the start of a new move there is huge bar followed by 1-2 days pause and another huge bar up - what do we have now? a joke, this is not bullish. The move lower is not a surprise... it is even more bearish than expected. There is very high probability that a move lower has begun and we saw the top, especially if we do not see rebound in the afternoon session. Any move higher is now an opportunity for a short entry. There is two zones around 1580 and 1590 where a move higher should reverse. Lets hope that we will see a bounce from support and nice opportunity for an entry.

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