Just a quick Little update on this major cross.
Short term we should see a move lower towards 1.2719, where we will end wave i of 3, this should be followed by a wave ii correction to 1.2998 (or a Little lower would be ideal) and the acceleration to the downside in wave iii of 3 down to at least 1.2295 or more likely lower to 1.1704.
That said we should be aware of the mounting downside pressure that could/will emerge, when we break below the triangle support-line near 1.2040.
Where do you see facebook headed now, many thanks
ReplyDeleteHi John,
DeleteWe should not see FB much lower. It has already surprised us (or at least me) by making new lowes, but we should be very close to a bottom and a new rally above 27.17 as the first confirmation, that a new rally higher towards 34.53 is developing.
It will take a break below the top of wave 1 at 23.36 to invalidate the bullish scenario.
Kind regards
EWS
Hey EWS you are on fire this week with your EWP Great analysis as always
ReplyDeleteBest Regards and Have a Great Weekend jt
Hi JT,
DeleteThank you very much and a Great Weekend to you too.
Kind regards
EWS
Hi I recently closed a long term holding in FNMA and it has now just shot up. As I long term investor I would be interested in the long term wave count to see if now is still not late to get back in please
ReplyDelete