May 17, 2016

Update

Well corrective moves often make look like a fool. Back to the flat correction... the move higher is an impulse which found resistance at MA200. Impulse means there will be more to the upside... probably brief pullback to the MA50 and another leg higher. If a rally to new ATH has already begun it will stop for a brief pause around 2100-2110 and continue higher(green). I think we are still in a correction(red) but trading is easy if you see a shallow pullback buy it and we see what happens.
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4 comments:

  1. Steve NakamotoMay 18, 2016, 5:16:00 PM

    You're going a great job with these charts.

    ReplyDelete
    Replies
    1. KrasiMay 18, 2016, 8:54:00 PM

      Thanks! Although this correction is very "naughty". I have not seen such a mess for a very long time:)

      Delete
  2. John DoeMay 20, 2016, 3:45:00 AM

    So what next? is this your weekend chart or May 17th chart?

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    Replies
    1. KrasiMay 20, 2016, 6:50:00 AM

      I post updates when I think something changes compared to the weekend charts.
      I saw 5 waves and I thought there will be more to the upside.
      Forget this chart I was wrong. I will post a new one today.

      Delete

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