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Friday, May 8, 2009

Ending Diagonal

As I've said I'm unsure at this point, but if the wave plays out similar to this ending diagonal I think it will be another sell signal. This is a refinement of my earlier chart this morning.

I've been examining the Ichimoku with this ED in mind, and believe the market will bounce off the top of the M30, M15 and M10 Kumo. Then as the cloud builds, it will follow the M10 and M5 higher until the ED is complete.

I may be projecting way to much. But if the chart fits it will give confidence to the count. Having been on shaky ground for so long I would still advice caution. Until the coroner says this Bull is dead it's not dead!

Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.

1 comment:

  1. I expect Monday to trade between 936 and 922. These are Pivot Points that agree with the ED


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