Thursday, April 8, 2010

Count Change

After some pondering and watching how the market, I have changed my count that is is an impulsive wave up and i'm not sure if this top is "Z" or just an "A". I do think we have an equal chance to head back up to test the 1220 fib. line as "Z" is completed. As we head up in P[2] it's corrective so I studied my 1 year chart and started moving closer. So here is my largest time-frame out of the 3 i'm trading which is the daily.

Here is the second lower time-frame 60 minute with my idea of how this trade will pan out if the trade is not broken with a break in bearish divergence off the daily.

Here is the lowest time-level chart the 30-minute chart.

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