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Saturday, July 30, 2011 2:01:41 PM
Chart Breakdown:
Here's why I think PCFG will go vertical (BIG) on the next move in the next couple weeks, not sure exactly when this will happen, but it should start to trend back up and stabilize soon. Note how the parabolic channel is emptying. In order for a huge vertical move the floor (the trend line, dark blue dashed) may have to be visited. Maybe breaching the lower parabolic channel is enough, if so we should see some supportive candles spanning between the bottom parabolic and the center ascending. The vertical channel is real, what you are seeing is the reset prior to very large leg up. Don't be fooled, many people are loading up for this event.
Here's why I think PCFG will go vertical (BIG) on the next move in the next couple weeks, not sure exactly when this will happen, but it should start to trend back up and stabilize soon. Note how the parabolic channel is emptying. In order for a huge vertical move the floor (the trend line, dark blue dashed) may have to be visited. Maybe breaching the lower parabolic channel is enough, if so we should see some supportive candles spanning between the bottom parabolic and the center ascending. The vertical channel is real, what you are seeing is the reset prior to very large leg up. Don't be fooled, many people are loading up for this event.
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