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pennies2007

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pennies2007

Re: gitonwithit post# 92907

Thursday, 03/01/2012 5:29:00 AM

Thursday, March 01, 2012 5:29:00 AM

Post# of 140146
Not really sure about that one Git. I've seen those pop up before and they almost always turn out to be continuation patterns, kind of like that diamond shape we see from time to time halfway through a run or a drop.

I was originally thinking that the bottom would have been a fifth wave also but I couldn't get the indicator divergence to agree so I tagged it as a 3rd. So far, the sideways price action has confirmed it as an opposing Wave 4 but if it pops back towards the highs again we'll definitely have to re-label it as a fifth.

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