21 Aug 2013

Yesterday we stated that a possible EW 3 wave was in process but that we should rely on our indicators as the more reliable one.  Today that statement proved to be true and prices moved lower as shown through our trend indicator by yesterdays end of trading hour.  Today we managed to trigger our intra-day buy signal, but as fast as it went up, it came down just as fast.  It is always best to trade the trend and leave the counter trends to form on its own and end on its own before entering a trade with the existing trend.

Main-Trend: DOWN
Short-Term: DOWN