"There is only one side of the market and it is not the bull side or the bear side, but the right side."
Tuesday, November 18, 2008
Preferred count: At this time, im still holding my sell positions since last night. The reason being, there is a clear divergence produced over double top made yesterday and at the same time supported by the smac-D pattern. This indicates that bullish trend has ended (wave a is completed). The target is 134.98 which i can see to complete new "wave b".
Alt count: For some unexplained reason, market might bullish back to complete expansion of "wave a" at 148.27 since last night "wave a" is just completed at fibo.31.8%/retracement (146.31).
Comment: RSI is supported by the MAE indicates strong bearish trend. Even MAE14 > MAE42 in H1 chart (buy pattern), but it is not supported by the smac-d pattern.So we can take MAE42 > MAE14 at M15 chart as the direction, while MAE42 almost cross MAE14 in M30 chart.
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nice n very good analisis...keep it bro!!
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