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


Friday, 10 January 2014

10 Jan 2014

Price are still in a channel, and it is either in a wedge or a bear flag pattern.  There is a bullish and bearish EW count below to show some options for Monday.  Our ST have turned Bearish, so keep this in mind for Mondays session as the risk are to the downside.  There is a possibility that the 60min chart will move prices up in the early session then turn down eventually.  This scenario is what I prefer, but as we all know things can change over the weekend or overnight in Asia or Europe.

The prices are stuck between two of our up trending angles and more angles that are converging around it as well.  Is it running out of time?



I have included at the bottom a count that is (very possible) in that we would see new highs into next week.

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