There is still a chance for new lows, but if wave 5 is equal to wave 1 (14 points) we are going to finish right at the last low 67 (81 -14). That formation would make a DOUBLE bottom and would definitely kick off a Primary 2 wave very well.
Saturday, March 21, 2009
If this is still wave 1 down...
There is still a chance for new lows, but if wave 5 is equal to wave 1 (14 points) we are going to finish right at the last low 67 (81 -14). That formation would make a DOUBLE bottom and would definitely kick off a Primary 2 wave very well.
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3 comments:
Thanks for the charts. Very useful stuff.
Watch out for that initial "appearance" that the previous lows held. Very likely a suckers move followed by lower lows...Best of luck
Yes...its tricky...we might be in primary 2 and one of the retraces suddenly explodes to new highs...or we double bottom and we mistake a retrace for wave 2 in primary 2 that suddenly reveals itself as a wave 3 of 5 of 5 of primary1.
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