Matrix said:
Preferred view is larger wave correction up from Nov 2005 low ended as 78.6% level at 19015 probed. We favor decline to 18260/18175 zone where may see a bounce. Below 18150 however (sell break) focuses on key 17935. Above 18495/ 18530 stabilizes, for 18630 (sell again). [SESSION-FORECAST: HIGH: 1.8583 LOW 1.8367] May see extension to 18530/18575 region as intraday looks positive. Needs below 18365/55 to reassert bear tone and open way for a decline to 18205.
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Nice Analysis. But the language is too technical mate. Why not simplfy a bit. Not complaning, just a suggestion.
Well, I am short and plan to keep adding to my shorts as i feel in the long term it should down to 1.81xx level and then if that level is broken then 1.8011. I have kept 1.8011 as the close for my positions and 1.9025 as stop-loss.
Matrix pls pm me your YM or MSN and we can discuss some useful strategies.
Happy trading guys.
Neo