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

PAYPAL

Wednesday 19 November 2014

19 Nov 2014 - 60 Min Correction..

I believe we are entering a 60 minute corrective move.  For most this doesn't mean anything, but based on my analysis a 60min correction means that we would correct for a few hours to days.  This would then be proceeded by a rally.  If we do see a change in our indicator, it would change the corrective move to a longer time frame.  But for now an uptrend still exists...  So patience is what is needed here for the bears.  For the longs, tomorrow could mark a turning point for a nice profit taking if the ST turns down and we get some nice impulsive signals.

MT: UP
ST: UP
PA: NA

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