Quote:
Originally Posted by italm31
Well I definite did not see that coming in the Swissie my stance needs to be shifted back to neutral for now. Long term dirction is clear...near term, is not so much. Today we tested that 2-4 trndline yet again taking out the former highs. The trendline continues to be resistence which Im sure some bears may take as encouraging, however, the bear count for now looks a little awkward. Here it is...but be foreward this count also be a III of V of 5. The monthly chart (not shown here) has has a resistence zone begining at 111 which I found funny we never hit. Anyhow, until we break through that 2-4 trendline, bias is still bearish. Unfortunately we need to wait till next week to see who wins this battle.
(bull count is in blue)
Have a good weekend
|
Italm,
I hear ya BUT, remember we are talking about picking TOPS & BOTTOMS.
Need to take some calculated risks. Sale against a new high here or a stop at 1.11 above the old high.
