“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC


Tuesday, 8 October 2013

8 Oct 2013

Right on cue.  Yesterdays Analysis of the EW pattern was right on.  The acceleration to the downside is the suggested outcome.  The angle that prices hit today in the 60min was not a strong enough support, although it tried to rally back up above the angle it managed to just hit the underside of it before going back down.  There isn't much change in the charts today as all analysis is going as expected.

Main-Trend: DOWN
Short-Term: DOWN

Note: Expecting a impulsive rally once target is hit, but we should not try to pick bottoms.  So if you are short, please plan ahead as to where you need to, or satisfied to take profits and wait out the completion of the current move before we look for indicators to reset.

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