Monday, April 5, 2010

Wave 3 up it was...

Ok, so we got our micro wave 3 gap this morning. Price has already begun to stall a bit, and it appears that we are in the 5th wave of our 3rd wave. Once it ends, I would expect a pullback between 9-11 pts before completing another 5 waves. Absolute support for our wave 4, when it occurs should be at 1182. Should price break lower than that, then our thrust out of the triangle should be complete.

BTW, my trusty 10 day ATR sell signal lasted a whole 1 day before it went back to buy mode. I'll let you know when another sell signal comes up.
blog comments powered by Disqus