Mup = Long time, no see :eek: . Reverse Head and Shoulders pattern confirmed. Near double measured moves and resistance. Is this another BULL Trap .
Better late than never . -------------------------------------------------------------------------------- Quote from mu200411:05-13-10 11:19 AM Gold $1243 Gold $1300 and $1400 are within reached . Can USD/EUR go UP to 0.82 .
Even though S&P seems moving on the third wave of a 5-wave uptrend, in some similar cases it may fail and goes down instead. See the forex GBP/USD daily chart example:
You may be right. But your ABC waves seem to have the same 'degree' as the 5 up waves from Jan.~Aug 2009. So I'd rather keep it simple and count another 5-wave move (down). And now GBP seems to be on an abc up swing or a bullish 5-wave move.
EUR/USD and NASDAQ up 10% in 5 years. The up move may be 1-2-3 of Primary 3] or a-b-c of Intermediate 2]b) .
USDJPY weekly chart starts to look interesting. If it's indeed a Tree-Drive pattern, price may touch the bottom within the next several days and have a powerful rally.
We've got our measured move UP to SPX 1155 . Next may be a measured move DOWN to SPX 960 :eek: , Or SPX 577 :eek: .
Hey guys, liking the short side here because of the hugh risk/reward in assuming that wave 2 just completed. I'll have my stop above yesterday's high, shown in mu's count. Good luck all.