Apr 2, 2013

Short term update

UPDATE 03.04.20013 - ok the lower target has been reached now waiting excitedly for the last wave:)) or the stop to be hit:(

The stop is now at break even (1561).... You can take profits at the trend line or wait for one more push, according EW theory two waves are missing:) 1563 is 61,8% Fibo level, support area with three minor peaks at this level (which are now support), the trend line is around there, EMA50 will catch us soon too, so max retracement should not exceed 1562-1563.
I am not EW guy but I was playing a little bit with counts and W-X-Z fits perfect. The sizes match and another 25 points means 1583 which is exactly in the middle of my target 1580-1585. Complex zigzags have 7 waves for double zigzag and 11 waves for triple zigzag. The current move has 9 waves which means two waves are missing.

No comments:

Post a Comment