Thursday 8 August 2013

11am update - small C up

Mr Market is no doubt starting to confuse many, but the price action feels like a B' wave has floored in the traditional 11am time frame. A C' wave across the afternoon, challenging the earlier 1700 high. Precious metals are surprisingly strong, Gold +$22


sp'15min


Summary

So...now I wait for a C' wave up...target is again sp'1700/05.
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For the day-traders out there..today should be rather good.


11.15am.. looking good, rally into afternoon...

So..the target trade I am seeking is short from sp'1700/05...down to 1675....which might even be viable by the Friday close.