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Showing posts with label Elliott wave analysis on Russian Stock Index. Show all posts
Showing posts with label Elliott wave analysis on Russian Stock Index. Show all posts

Thursday, December 17, 2009

Russian Stock Index - Wave 2 is almost done



If my count is correct wave 2 is close to its ideal target near 1,472, from where we should see the powerfull wave 3 begin. The real confirmation that wave 3 is in motion comes when support at 1,297 is broken, but the best risk/reward trade, will be close to the top of wave 2 at 1,472 with a stop just above the wave [B] top at 1,508.

Longer term wave [C] should take us below wave [A] at 492.