Monday, December 13, 2010

Just a thought

The rally just keeps going and going. It feels like a new trend has begon. Price from the lowest point of what would be counted as a finished wave B, does not look impulsive. This can mean 2 things, first that there is no wave B but a wave X and we are in wave Y higher. Second, that wave b of B is playing out like on the chart below. If price keeps moving as fast as it is, we'll know soon enough...

Geplaatst door op
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2 comments:

  1. AnonymousDecember 13, 2010 at 11:55 PM

    Whatever this last pop is, c of B or something else, it is just pips under the .618 area of your labeled A of B so that would fit this count. Like you said we will know soon enough. imho a good risk reward here at this level

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  2. Jeremy DemunterDecember 14, 2010 at 12:45 AM

    Hi,

    Thanks for your comment! I think you're right, i can now see a H&S on the 15min chart, should the neckline break i might try a short. Only thing holding me back is the big bull candle on the daily chart. Always dangerous going into so much momentum.

    Best of luck,
    Jeremy

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