Anyone who went short with me from the top well done, made some good money here.
Downside seems very likely to continue now to at least wave 3 target. There was a nice action level where bulls could have participated on 11-10 and they did manage to get a doji at the action level, BUT it was soon engulfed by bear power and bulls can't step in for a while now.
A good target is measured wave 3 target landing @ 40 psychological handle, which is a likely area for a bounce, I think.
Best of luck traders, Tom
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IvanLabrie
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Great coverage as usual mate.
Cheers!
TomProTrader
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Please only post productive posts in my comments, these analysis's basically back up what I just said and it may confuse viewers.
Thanks
Tom
bracken
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Maybe you noticed I'm suggesting a corrective wavecount while you obviously have an impulsive wavecount? So I'm not really backing up your story.
Sorry you didn't like my analysis. I did not mean to offend anyone
TomProTrader
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Bracken,
It's fine. Perhaps, it was a co-incidence that I said about not posting lots of charts and you posted 3 straight after. I thought it was purpose, perhaps you never saw you comment.
All analysis is appreciated here, I just thought you was trying to annoy me.
Tom
bracken
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Honestly it was not on purpose. Never bothered to scroll down the comments field as sign "more capital" wrote "16 days ago" which I missunderstood. Sorry!
TomProTrader
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Don't apologise. It's fine, just one of those mix ups :)
Kind regards
Tom
bracken
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So no bad blod between us. May the best analysis win (just joking)
bracken
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Strong support @ $39-37.50 and possible turn around point
Cheers!