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Replies to post #138075 on Simple's Green Room

Replies to #138075 on Simple's Green Room
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Heavyweight

03/11/16 1:30 PM

#138076 RE: pennies2007 #138075

Hey pennies. I hate to be the bearer of bad news but this is why I think shorting AU is a bad idea right now. I had to go out to the monthly and realized that it is also working on filling the spike. I don't think we will see any significant move down until price hits the .7728 area. That's another 187 pips away. It's over halfway there though. Right now it's stuck under the weekly 34 EMA or it would be there by now. Just MO.


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Heavyweight

03/11/16 1:37 PM

#138077 RE: pennies2007 #138075

And if my count is correct, it's completed the 5 waves down and the ABC and now it's working on a wave 4 counter trend move up. Since wave two was sideways, I expect the wave 4 to more dynamic. Honestly this thing could go all the way to around 8744 and not violate the FIB rules. Just saying....