Trading Analysis based purely on Price Action as taught by Nial Fuller at www.learntotradethemarket.com. All I post here are setups which i see fit to trade win or lose.
Monday, 4 January 2010
FTSE/DAX/S&P Analysis
The call to carry on upwards was right as the waves suggested and how did it rock! We're coming close to the areas of topping out if this triple zigzag is to come off. The FTSE has now hit 5500 as well and bounced off 61.8% retrace on the weekly chart. The buyers still look pretty strong though and the counts ive come up with suggest one more high.
I've got 2 counts and im assuming we started the final 5 waves up today. One count is we're in the middle of a extended 3rd wave of 5 the other, we've just finished wave 3 and are moving sidewaysish for wave 4. More details on the charts.
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