Friday, July 1, 2011

Waiting for direction

Price again went higher then i expected. We now have a couple of possibilities, with the obvious triangle counts, both bullish and bearish. And my previous main count, where Y of Y should start now. I give equal chances to each scenario, so i prefer to wait until price clears up. One last thing, remember the price action from oct '08 and nov '08. Everyone was looking for a triangle, but instead of getting a small wave E, there was a 2000 pip rally.


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