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Please look at all charts, monthly, weekly and daily before making your own conclusion. You can find HERE a description of the chart template used.
The used chart template is explained HERE.
Last week I wrote: "The larger candle down is basically confirming the hanging man reversal. We now have a picture close to an evening star candlestick reversal pattern. I expect a further reaction down in first instance towards the low side of the BBS channel and the low side of the up moving pitchfork. "
Not a continuation of the reaction down as I expected, but once more a higher high for the weekly wave 3.9. That means that we are probably moving further up to the next Fibonacci targets of 2030 and 2050-2060.
If you have doubt about BBS, have you noticed that the BBS Band Break System used on the weekly chart, took a long trade August 17 2012 at 1418.16 and with a closing at 2010.4 on September 19, 2014, there was a profit of 592.24 or 41.7%.
The longer term SVEPRExp expert system is green. Green means a long position and black a short position for the long term on this weekly chart. You can find more information about SVEPRExp HERE and HERE!
For FOREX traders; here I keep updated FOREX EUR/USD charts.
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Index moving along the median line of the up moving pitchfork.
Long term up target reached in the monthly chart.
There is support at 2000-1900-1830-1725.
Fast Stochastic RSI indicator:
Slow Stochastic RSI indicator:
SVEPRExp expert system:
The long term investor on a weekly basis has an open long position.
NinjaTrader® charts courtesy of NINJATRADER®