FCPO TF10.. 7/5/2013
As expected in yesterday post, price rebounded to better level.. and this morning managed to grab at discounted level (~43, possible to get at ~35).. Anyway, as in elliot wave counting, current move is in 4th wave and could go highest to 2335 (end of wave 1).. So this rebound i think is not a fake move.. Based on chart above, price now is in uptrend and above mouth.. so, as long not breaking it, it is valid for uptrend.. As my personal target to 50% of retracement, to 80~.. will take profit once reach at this level.. If the price to retrace, i think 58 is the right level to go and it cant go lower than 55, if not current wave (4) will be invalid.. correct me if i am wrong on Elliot as Elliot is not my ground..
Credit on Elliot to: OEW Ombak Emosi(FB)