Now it is 100, 10, 20 points lower and one move wave. The next Trendline Break may worth 300, 30, 60 points.
Here it comes. But is it the End or the Biginning! :eek: Edit: Oil sets record, gas closing in Prices at the gas pump come close to last spring's record high as oil soars past $108 a barrel to hit another record high. http://money.cnn.com/2008/03/10/markets/bc.oilprices.ap/index.htm Posted by mu200411 on 11-23-07 08:52 AM: EUR/USD=1.4917, to be 1.5 soon, because another .25 or .50 rate cut is expected. .25+.25 = .50 so 1.5. Santa Claus's "Crude oil at $108 in early 2008" is comin' to town.
Status. Long "Long position" closed when the Market failed to break the previous high and "Head and Shoulders" pattern was confirmed. Short position also opened as a gambling. Short position closed at -200. Long position entered at close due to the fifth subwave of fifth wave although there was no higher high. Just a gambling. Strategy. Close long position if down. Find another entry point. Add to the position if up.
Status. Short "Long position" reversed at +300 when there was a lower low, reversed again at -150 when there was a higher high and added to long "Long position" as said. Short "Long position" closed at close near +300 though there was no lower low. Hold long "Long position". Strategy. Open short "Short position" when there is a lower low. Re-enter short "Long position" at -150.
From here the Market can go UP or Down 1000, 100, 200 points depending on the Support Trendline. A five wave up will be a good sign. There are major resistances at wave iv and wave .2:b are significant. Strategy. Trade the +300, +30, +60 and -150, -15, +30 targets.
mu u might want to check this guy, he called this move a month ago, www.ptv-investing.com/outlook.htm
Ammo, Thanks. I will take a look. Mu. Today is an irregular correction with wave c approaching -150, -15, -30 target. Prepare to buy when there is a higher high. Wave .2:biv high should be broken soon, because irregular correction signifies a strong Market.