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.
Sunday, 13 June 2010
Dow Analysis
Couple of counts going here but there seems to be some debate as to whether this is a wave 2 or a wave 4. There is a lot of sideways movement which could suggest this is a wave 4 which is either a Flat or a triangle.
The chart with the Flat ewt pattern could suggest we're on a wave 4. You would however have to discount that huge wild spike drop on 6th May as w4 would go into w1 territory.
The count i was following last week needs 10315 to hold or that is not a 1 of 3 down. If it goes higher than this, i suspect a bigger wave 2 retrace is under way and could be heading higher possible to the 10600s
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