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Thursday, August 26, 2010 11:19:29 AM
NJ 5 Minute Chart with Wave 5 Completion Near
Yes it could reach that high but anywhere in the low 60's is a great short opportunity.
Notice the expanding triangle here. EW theory says that if the price action enters the expanding triangle from the bottom, it's bullish. That means the price action will break through the top trend line and move up to complete the larger bearish expanding triangle pattern before dropping.
Yes it could reach that high but anywhere in the low 60's is a great short opportunity.
Notice the expanding triangle here. EW theory says that if the price action enters the expanding triangle from the bottom, it's bullish. That means the price action will break through the top trend line and move up to complete the larger bearish expanding triangle pattern before dropping.
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