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1795 as a minimum on this leg up, then a pull back before a final leg up which should complete a 5 wave pattern from the March 2009 low. Once complete, which could see as high as 1820/30, we go down BIG.
Mike (Ark),
I’ve just seen your post above re. my “rude attitude”. If that’s the way it came across I apologize, wasn’t intended. It was just making me cringe when I saw on here people shorting this when the trend was so impulsively up. (Almost parabolic). I was really just trying to give a wake up call that the top wasn’t in and give an indication – in my opinion – where it might go.
The close above September high suggests a minimum of 1747.00 cash before significant downside. If it goes through 1747 then 1780 comes on the radar.
Fighting a strong impulsive trend to scalp a 3 or 4 handles rather than go with the trend and make more handles with less stress = “trading style”. Well ok, whatever.
Ark, you select the one occasion in the last 7 trading days when a decent amount could be made on the short side to make your case, but you ignore all the long trades which there were significantly more of and would have yielded greater profits.
It closed what would seem decisively above the September high. That suggests at least another 15 handles up before any significant downside. Don’t understand why everybody on here is trying to short this when the trend is strongly up. I’ve been long on and off for the past week, never even considered shorting. Just look at those impulsive up candles on the daily, shorting right now is madness. Ok it’s possible to grab 3 or 4 handles on a counter trend trade but why fight the trend?? Far far easier (and less nerve racking) to make money longing the dips with much greater gains than 3 or 4 handles.
Back in now, password problem sorted.
Well we got the re-visit to the September high as expected. If it breaks up through then
1745.00-1750.00 is on the cards. It looks to be forming a bull flag for another go at breaking through.
lol Paps, I can answer that now, without the suspense. I am the greatest fool of all.
Nah, you’re only second, I’m the biggest. Still think we see the Sept high (cash) again minimum before any significant downside.
<div class=”d4p-bbt-quote-title”>Papillon wrote:</div>
You are short – I am not. Why are we both fools? lollol maybe I am a fool for shorting or you the fool for not shorting. Lets see buterfly man or is it fisherman?
Ah, ok. But that means only ONE of us is a fool, not both of us. Remains to be seen which. 🙂
