Please make sure you have read my disclaimer! This is a personal journey into self-tutoring in technical analysis. Did you read that Disclaimer yet?
Disclaimer
Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Wednesday, 26 June 2013
Dow
I have readjusted the potential downside Pitchfork again, with the slight new high. The diagonal does look like a good neat count and pattern but perhaps is a 'ab-abc' for the 'B' leg in a larger sidewards diagonal for a wave 4 being built. That would make sense with the prior larger drop and the positioning of price regarding the larger trend lines, covered this morning. Anything that starts procrastinating prior to the downward median line there may be the 'a' leg down and if it is close, I'll bank and see what the 'b' leg has to over. Otherwise, overall, this would be the 'c' leg down of a diagonal if indeed it is one or the 3rd leg in an ending diagonal, if it is one of them. We shall see.
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