Thursday, May 7, 2009
What appeared to be a very nice 5 waves down for wave 1 was violated this morning, and I have no idea how to count this wave. As I said, we had to brake the 880 level before the bears could claim control.
The Ichimoku was confirming a Bear move in the charts under M30. That has tuned too.
I can't see R3 and R2 on my charts right now.
R1 = 924.193
PP = 912.777
S1 = 895.973
S2 = 884.557
S3 = 867.753
I'm at a loss right now. All I can do at this point is watch.
Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.
Posted by Robert Campbell at 20:29