Just a quick note on Facebook before I'm of to Barcelona.
We should be very close to a bottom now. Under no circumstance can a break below 23.37 be accepted at that would leave us with an overlap between wave 1 and 4, which is not allowed under the EWP.
I'm still looking for wave 5 higher to 33.80
Therefore the current levels also represent a low risk buying opportunity, with a close just below 23.37.
question:
ReplyDeleteWhat if we just just finished 2 and now are on 3. And, the impulse from September was just the i,ii,iii,v = 1. The reason why I suggest this is the projected ii (pictured above) was nearly a 100% retracement which is unusual.
Go to the Picasso museum and afterwards around the corner at Sagardi for tapas - Carrer de l'Argenteria, 62 (Gothic Quarter).
ReplyDeleteHello,
ReplyDeleteHope you're having fun in Spain on your vacation. When you get back, can you give me a quick comment as to Meru Networks? The price fell into the territory of wave 1, so is that mean that Meru price could drop below all time low?
Also, eur/jpy, did it reach the top as wave I, or is it possible that it's not done? With all the correction it's been going on for the last week, I can't seem to figure out what correction this is? Did we just finish wave 1 down with wave 2 correction as triple zigzag?
Thank you.
Your count is off. It looks like facebook may have bottomed. Powerful move upwards should be coming. Wave 3 has just started. Expect 30+ soon. Perfect retracement to 23.26; algos. Major cup and handle pattern is forming on the 1 year chart. Breakout over 32.50. Similar pattern to Radian Group (RDN) and Ford (F).
ReplyDeleteHi Magicswag,
ReplyDeleteAs I see we have the same count. I'm also looking for a new rally has you are, the only difference seems to be, that you count this decline as wave 2 and I count is as wave 4, but overall we are both looking for a major move up from here.
Kind regards
EWS
Hi Jasmin99
ReplyDeleteI agree with you the break below the top of wave 1 has invalidated the bullish count and we risk seeing a new low. however we could also be building a major base, which could take many month if not years, before the next rally will take place. however for now all bullish calls should be off.
Kind regards
EWS