Atypical kiss goodbye before price continue towards the target depicted.
Previously on 2013.08.23 2013.08.02 2013.07.23 2013.07.24 2013.07.29 Price is expected to hit U-MLH after it reached wl-4. Now is time to draw wl-5 as future resistance or target. However, price will probably retraced once it touches U-MLH and head towards ML before moving up again with wl-5 as next target.
The purple lines are constructs of the inside median line method with the uppermost line formed from the multi-pivot line(MPL) with multiple touches. Essentially price is heading towards the triangular congestion area(depicted in pink). The bias is towards a breakout upwards as it is squeezed into the corner of this triangle. A break above the MPL will...
Overall trend is still up but going through some short-term retracement. Wait for opportunity to long once it lands on the upsloping inner slidling parallel.
When P0 cannot be found, this is a good way to structure price. You can see how price respects the trendlines projected into time and space just using 3 data points (suspended P0, P1 and P2).
Waiting to short. Price below the upsloping ML and immediate price frequency as defined between the two downsloping purple trendlines.
It remains to be seen how price will behave next week after the one day gap fill on 2013.08.23. As price nears SP2 there could be an opportunity to short it. However, be very aware that the major trend is still up. The blue channel depicts the frequency bandwidth of price movement. It is near the upper limit of the blue channel. As a caveat, a nice break above...
Previously on: 2013.07.23 2013.07.24 2013.07.29 2013.08.02 Price has maintained its upwards momentum this week to advance towards its final target at U-MLH and remains within the blue channel. Expect price to break wl-4 next week and we should be taking the final profit at U-MLH.
Candidate to short if price breaks the base of the wedge which is actually the median line of a mini pitchfork.
Previously on: 2013.07.23 2013.07.30 Prices are commencing a possible breakdown now but it needs to close below 79.45 before we can confirm that the breakdown is legitimate.
See how prices are described within this new purple structure and is halted beautifully by the downsloping sliding parallel. Price will possibly retrace upwards. Nothing to trade now.
Price meets resistance at fibo 0618 of downsloping pitchfork. Possible reversal downwards.
Prices are flagging weaknesss in upside and seems to move into the green frequency band.
Previously: 2013.07.26 2013.08.08 2013,08.14 You should have closed your position with full profits!
Previously : 2013.07.29 Price gap-crossover the red trendline and hit the projected target that was forecasted on 2013.07.29
Previously : 2013.08.02 2013.08.01 2013.07.31 After few days of consolidation or energy build-up, we see price starting to move towards the upsloping blue ML as 1st target. Price has used the green ML as a launch pad. If price clear the blue ML, chances are it will stay in the blue channel which dictates a new price frequency. When that happens, I expect...
Previously 2013.07.26 2013.08.08 Standby to close position as it near target WL-1