Vatis
Short

Bulls are coming out. Update #1: Don't get too excited.

505 4 7
Everything worked as I had predicted (see the related idea).

At present, there should be a correction after the failed breakout of the main resistance line (green). If you zoom, you will see an evening star forming, so there is a great possibility of short-term downward movement. Moreover, the bat like this is a signal of downward reversal: http://myforexmagicwave.com/wp-content/uploads/2013/01/Bearish-BAT-with-3-trades.jpg

And what is gonna be next? Hard to say. The real breakout is possible, because we are coming to the end of the triangle. But for now - let's see what the future brings.
It's logical to be short. But as of this minute it looks like the insane rally will continue very soon. But we will only know when the China wakes up again in 8 hours. Their volume will be decide the direction.
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ChartArt ChartArt
17 hours later and I have to agree with you... I focused too much on the 1 hour time-frame yesterday.
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Vatis ChartArt
ok. now we need to predic the target, but to be honest, I have no idea...
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dovaboy Vatis
I have a target.
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