May 26, 2013

  • First chart shows price closing below 200 Day SMA. This chart also shows this down move started with a Dark cloud cover candlestick pattern which has done well so far.
  • 2nd chart shows price not holding a possible support line which is likely to strengthen this down move.
  • Only hope for bulls now is the golden ratio. If price takes support around these levels we may see a pullback.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore