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Wednesday, May 13, 2009

Over Lap

As the count stands, there was a 64 cent over lap of wave A at 888.70 from April 30.

I'm cautiously looking at this as the beginning of wave B. The chart above is indicating a possible 3-3-3 flat correction for a wave 4. It could just as easily develop into a 3-3-3-3-3 triangle.

943 may not be a viable target any longer. If this is the beginning of Wave B I may have to count that last fives waves as the fifth wave of C. It's not what I expected, and does not look convincing.

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

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