Wednesday, 30 November 2011

Pull back started....will you buy??

SPX goes according to our scenario. I see 1170 as the lowest number it can go as a correction. I prefer buying with targets around 1225-1250.
DAX as noted earlier also in my twitter, it probably finished 5 waves up and is correcting. Same pattern as spx. The gap is a possible target. Market opens down, it may pull back up and continue down tonight or tomorrow. Main idea is to be long close to the 61,8% retracement.

Eurusd still below the red trend line. As note on twitter the rise from 1,32 was overlapping and thus not impulsive. I see eurusd lower but not sure if 1,32 will break. It reminds me of how it behaved with 1,3422 area last week. Be carefull with short positions. Using stop orders is best to be safe.

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