Whats Next – Amendment

Yesterdays (Weds 7th Dec 2011) price bar – a wide range bar has altered some of yesterdays fib levels.

I’ve uploaded a new chart to show the position of the recalculated fib levels.  This has to be done as a new high was put in so the old fib levels are now obsolete and the ones in this chart are the ones to watch now!  Trading eh!

Anyway here’s the updated chart, we’ll just see what happens – the new preferred target zone is 5379/5354 & 5238/5218

Figure 1x - Recalculated fib levels

We’ve had a daily bearish reversal so it’s now important to just watch price action as the days unfold.

Remember I’m not interested in trading short this market – the weekly DTosc is still bullish so price might not even make it to the fib levels on the chart, we’ll just wait patiently and what price, we it does all the things we want – we’ll take action then.

Advertisements
Previous Post
Leave a comment

Comment Here:

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: