Thursday, March 17, 2016

[JNUG] update

At the backlink we had this model:

The pullback turned out to be a bit more complex.  Since then it hit a higher high but this could count as a 3 so far so be careful to buy the dip and not chase peaks.  In other words, blue 2 could still turn out to be A of 2, this current move up B of 2 and a lower low to C of 2 which could still hit the 50 fib or even the 61.8 fib.   So the real blue 2 could still turn out to be an expanded flat.  The safe money gets out after this 5th is complete and then waits to see what the pullback is like.  If it is only to the $82 level in 3 waves then back in and set stops.  But if it is 5 waves down then run away screaming or even flip short into JDST.

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