KNOW WHAT OTHERS DON'T
Welcome to my Market Directions ramblings.
I mainly focus on Major Forex pairs.
The idea is to grasp Intermediate to Longer term market moves.
I use different aspects of Technical Analysis and I take into consideration economic news data, but just in conjunction with my technical analysis.
Comments and criticism are welcome as long as they are constructive and will help both readers and me to improve our understanding of markets moves.
Friday, March 10, 2006
Tennis Anyone?
Idejan,
Thank you for the video, very nice!! I guess months from now we all will be sitting back, studying them charts and saying ”That’s what was going on”. Until then the hunt continues.
Late last year I was convinced that we were ending a 5th and headed north for a correction, and although price has headed north from the first of the year it has done so with reluctance. And while it has been hard for me to number some of the smaller degree 5 waves in some of the earlier price action, either motive or larger corrective zigzag, I’m now starting to think there’s more south to come.
Price has held again today on yet another sliding parallel from the prior daily fork, as long as this holds it’s making me think that more range trading is to come. Now wondering if we are in the final wave of an ABC correction from the end of last year.
Thinking that this is like a failed ‘C” wave triangle or perhaps a flag?( A bear's thoughs). If this view is correct we could have another test of the top the “c” followed by a test of the low “d” and then a brief run to “e” and then the bottom would fall out.
Just trying to stay a step or two ahead…..
Well for some reason I can’t add a picture again will edit when able…………problems solved
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