اقتباس:
المشاركة الأصلية كتبت بواسطة أحمد توفيق
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It becomes possible now (on a short term basis) to sell the 38%-61.8% fibs shown (red ellipse) <2930-2953> with stops above top of (v) <3020>, & take profit at <2835-2805> (green ellipse). ).
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Sincere Regards
www.wave-segregation.blogspot.com
The Up Trend is intact. As proven by my failed trial last week to short the top of (3), for a protracted correction in (4).
On chart-5, there is danger of truncation at the 4HR blue neckline shown. This would result in an expanded inverted H&S (shown in blue). I expect 3140/50 to test first in (5) however. As shown on chart-7, the hourly up trending channel should contain price action until the 4HR neck line is tested.
On the longer term, the taking out of the 4-HR neckline, opens the way to the targets shown on chart-6. Technically, because a higher degree 5 wave completes at the 4HR neckline, it becomes possible to see a much deeper correction resulting in the dash- line double bottom shown on chart-6. Weak fundamentals resulting from the Greek debt deal being negotiated coming Jan’13 could fuel this. Momentary resolution of a Greek deal (as usual), coupled with fiscal cliff problems weakening the Dollar, should see the taking out of the neckline, with retractions contained at 2835-50 level. (This is the left shoulder level on the 4HR chart at 4a).
Chart-7 shows anticipated trading action for the coming week. Spikes below the 1-4 advance line, would merely signal a double bottom on price & should be bought. Stops must be below the wave "B" top. TP at the 4HR blue neckline shown.
Sincere Regards
Ahmad Tawfik
www.wave-segregation.blogspot.com
