Sunday, January 16, 2011

Big Resistance

There's a big resistance zone around the 1.34 - 1.35 zone. If this resistance holds, price might go down to test the 1.27 regio in a wave Y of Y of (B). Should resistance break, the alternative count comes into play where wave (B) probably finished allready and we are correcting higher in wave (Y). There would no longer be a wave (B) low but a wave (X) low instead. EW counting is hard and complex but it's normal because we are in a wave (B) of B ( or (X) of B ).

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