Trade has remained impulsive in nature. Although the prior operative wave count remains alive, any trade above 1096 would bust that count forcing me to reevaluate the near term wave count. The chart assumes that 1096 will not hold. Should the .786 retracement be breached, odds are that the high set on 6/21/2010, (wave 2 blue), will be challenged. A breach of that pivotal high, opens up the alternate count that I laid out last night.
Best of Trading
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