Friday, December 3, 2010

Important price level broken

Price didn't reverse as expected but exploded higher, suggesting the correction isn't over. Something important happened when 1.3354 was broken, the nice looking 5 waves down is now confirmed to be a wave c of a bigger correction ( the upper left choice of the chart with 6 choices was the correct one ). In other words, 1.2968 is a low that shouldn't be broken for a while. I will post a bigger timeframe chart over the weekend.

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