Short term bear, long term bull

Dec 26, 2012

As you can see price will most likely make a lower move, if it falls down it should at least hit 50% fib line before making higher move. This is also wave #4, and we haven't seen any major retracement so making lower move will make sense. After we are done with wave #4, you can probably go long and ride wave #5 all the way to the top. If you want bigger picture of this idea, zoom out of this chart.