Posted by frtaylor on 10th of Nov 2011 at 08:49 am
Well, I would still go back to Steve: if we close above a 50%
retrace of yesterday's candle, then go long w/ a stop below
yesterday's lows. Otherwise we go lower. How far down?
I don't know, but I'd be looking for an entry long (w/ a stop below
the low of this move), since this has the feel of an ABC correction
(if you agree w/ Matt's charting). I have seen so many bigger
picture predictions/guesses on this blog and elsewhere that have
not played out, that it seems best not to weigh in, much less bet,
on such things.
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Well, I would still go
Today's big red candle; thoughts?
Posted by frtaylor on 10th of Nov 2011 at 08:49 am
Well, I would still go back to Steve: if we close above a 50% retrace of yesterday's candle, then go long w/ a stop below yesterday's lows. Otherwise we go lower. How far down? I don't know, but I'd be looking for an entry long (w/ a stop below the low of this move), since this has the feel of an ABC correction (if you agree w/ Matt's charting). I have seen so many bigger picture predictions/guesses on this blog and elsewhere that have not played out, that it seems best not to weigh in, much less bet, on such things.