Monday, September 26, 2011

Eur/Usd : A bounce to sell

Focus remains on the 100% fibonacci extension level as price seems to reject this level. Wave Y of (W) subdivides into a complex triple three ( wxyxz ). The alternative remains the same, where the 2nd X wave in the complex triple three is counted as a complete wave (X), the following decline would then be the first part of wave (Y), this is a very bearish count and the probability of this count being the correct count is small because of the very small wave (X).

1 comment:

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