Παρασκευή 7 Ιανουαρίου 2011

Triangle isn't valid anymore...

Yesterday's price action invalidated the triangle senario... So, from what it seems we had a flat correction as a 4th wave with the c being a failed one reaching only 61,8% of wave a.. this is extremaly bearish (but totally valid), as it points that the currency lacks of upwards momentum and is being sold on every single correction... I am still waiting for 1,2585 to be reached but that will happen probably next week after a small correction... I am saying that because there is a possibility that the 1st leg of the 5th wave is ending...So, i am anticipating a small retracement starting from Monday session

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