Thursday, March 10, 2011

Where is the top

The decline went deeper today, but for now i'm still counting this as a wave x of Y. Should price come under the trendline, which lays at the same level where there would be 2 equals waves from the top, i will start looking more to the alternative count. The problem here is that the second leg from the bottom at 1.2858 is small in price but large in time compared to the first leg. Ideally, in a complex double three, both the W and Y wave are very simular in size in both time and price.

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