Wednesday, October 20, 2010

Time to sell the rallies?

Here's a 1 hour chart for Eur/Usd. Notice the H&S pattern and the broken blue trendline, both signs that we have topped. For the EW count I prefer the 1-2-i count, for this price should not get above 1.40. If price does go above that level, the alternative count comes into play, but no new high is expected.

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