BUT the similarity stops there as it might be possible to set a lower low or at least
match the previous low on June 7th on a closing basis
I can see that May 25th might have created a WAVE low at 1040,
but that would mean June is set to create a retrace wave against a downtrend
That might or might not the case, OR somewhere in between
heres what I mean
May25th LOW say minor wave 1
Now minor wave 2 to June 16-17
BUT in between can be a little more tricky
We could see a RETEST of MAY 25th low at 1040 on a closing basis on the 7th
THEN the rebound to make wave 2 thru June 16-17
Jay
Euro vs Usdollar moving in a channel with upside possibilities
ReplyDeletehttp://niftychartsandpatterns.blogspot.com/2010/05/euro-vs-usdollar-moving-in-channel.html
Thank you
Gap-Up
ReplyDeleteTHANKS NIC for becoming member # 118
ReplyDeleteWELCOME to my corner of the world
Jay