Poll

What indicators that you mainly use in Technical Analysis (TA)?
Moving Average (SMA/EMA)
RSI
Stochastic
MACD
Ichimoku Kinko Hyo
Volume
Momentum
Poll Maker

Friday, 7 June 2013

FCPO: Wonderful uptrend in the AM (*update).

FCPO 7th June (12.30PM)
TF15


If you refer to my TF1 post yesterday, i said that we are pending for correction.
Now wave 5 for TF1, almost at the end. The range of possibility TP for this wave as in the chart is from 2440-2460.. In morning session, it extended to 2462 and closed at 2459..

If we look at TF15, current wave would be at wave 3.. So, we are expecting for correction ABC (TF1) and correction wave 4 (TF15) which i think will be a sharp correction (about 70% of wave 2 period) because wave 2 quite a long period (11 candles).. Hopefully, correction will go below 40. However, at the moment, no confirmation for reversal as TF60 still not yet cross. I think many is expecting for pull back.

I wish all the best in 2nd half.