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Thursday, March 15, 2012 5:34:07 PM
G/J 15 Minute Chart with Wave Count
Here we go SG. First 5 waves off the bottom is a small Wave A. Back down to test near the lows without making a new low. Then a move back up to the top trendline to form a right shoulder. Then a bigger drop for Wave C.
Gonna take profit on a couple of shorts here around 130.80 and then wait on the right shoulder to form to add more. That level around 130.65 would basically be another test of the EMA62 on the hourly chart.
Here we go SG. First 5 waves off the bottom is a small Wave A. Back down to test near the lows without making a new low. Then a move back up to the top trendline to form a right shoulder. Then a bigger drop for Wave C.
Gonna take profit on a couple of shorts here around 130.80 and then wait on the right shoulder to form to add more. That level around 130.65 would basically be another test of the EMA62 on the hourly chart.
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