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

PAYPAL

Thursday 8 August 2013

INTRA AUG 8

Update 2:15pm:
Prices have moved back up but indicators have hit overbought.  Positions must be taken carefully here, and volatility could hinder the indicators ability to function in the short term.

Update 10:30am:
Sell signal has not triggered but the EW pattern that we thought was a 5wave pattern up was indeed but also put in another 5 wave up to end that move.  I would classify that as a 5-3-5 move for an ABC up. and now fulfilling a 5 wave move down again.

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