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

PAYPAL

Monday 1 August 2016

1 Aug 2016 - EOD

Off to a great start with price making HH, and resetting again.

SEN: Bullish
ST: UP
PA: UP
R: Aug 1

Note: As I have mentioned before, although we have had HH, and continuous resets.  It is prudent to see that a loss of momentum is occurring.  while we are less than 2 pts. away from our target of 2180, I would not rule out higher prices, but at this point we could just move higher but reverse hard.  EW could be pointing at this as a 5th sub wave of a larger degree 5th.  Ultimately Aug. should be a cautionary month as well.  Don't forget that last months bar did not show a reversal candle, so it is quite possible that a top is still in progress.


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