Want to know more about "Capturing Profit with Technical Analysis"?
Twice semi-finalist "Favorite Article" in the S&C 2015 Readers' Choice Award. Thank You!
AXIOM business books awards, bronze medal for my book! Thank You!
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: "As I mentioned last week "there may be some more recovery to the median line of the longer term down moving pitchfork", and this was what we got. Probably there will be a bit more up retracement, but I still expect the coming week(s) a continuation of the longer term down move. First longer term down targets are 1730 and 1600."
A bit as expected only a small further upward retracement, followed by a larger move down for the continuation of the long term down move. We should expect a further move down for the wave 3.3. This will be in first instance the target around 1730, below the low of wave 3.2.
The longer term SVEPRExp expert system is black. 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.
Learn technical analysis with: "Capturing Profit with technical Analysis"
NinjaTrader® charts courtesy of NINJATRADER®