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ABC

ABC Correction To the downsideYesterday I made a mistake on my USDJPY idea. I was thinking it was doing a 5 wave impulse to the downside, but It isnt. USDJPY finished 5 waves to the upside and now we should see an ABC correction to the downside. Its possible wave B has finished, and now well see 5 waves down within this C wave to the downside. Another possibility is that were only on Wave A to the downside. Either way, We should be bearish for a while. I have take profit set around 114.300
Short
by rmonroez
ASX STO Oil Play LongFeb 12: 23.00 AEDT Ok here is one for the oil bulls. This stock has been beaten up recently, but the falling wedge and solid volume support at $3.60 and $3.90 suggests ST potential. Weekly Support is rising underneath, but at $3.50+ Ok the Trade: Buy now on the bullish gap bar at $3.90 SL $3.80 TP#1 $4.10 TP#2 $4.40 RR := 50/10 If it fails - re-enter at the bottom of the body gap/Weekly support. Buy $3.60 SL $3.50 Tgt $4.40 Profit less our loss above RR 70/10 Tgt is the upper body gap during WTI push higher and the rising tide. Warnings: It has not broken downtrend; There is a 13m short position overhang; The body gap under; Positives: Oil and USD rising - good for the bottom line; Bullish last 3 bars and its above the T-Line; Indicators and BBs (not shown) are positive. My position: Break out (fake) then pull back to lower gap then rally - but it depends upon Oil, $US an the S&P500 := Quick long, short, long This is an opinion not a guarantee and ... just my 2c worth ...
ASX:STOLong
by Oh_If_Only