Tuesday, October 12, 2010

eurcad




I am tossing up between these two scenario's, that are with the trend.

Firstly a gartley formation finishing at around .886XA, with AB=CD. I'm a little concerned that AB has some long candles in it, but that's at least better than having long candles in CD! Will it extend or not? Some trendline support coming in as well.




Secondly, I have a BAT formation which has a nice fib cluster of 1.27ABCD @ .886XA, and also prior supports around .886XA. It just looks ugly!

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