Dear Readers. the bottom of this move is visible from many of our vistas. 1) Yen is/will be put on the leash today/tomorrow 2) Pressure Gages are In Buy State if not extreme yet, same story today/tomorrow buy 3) Summation Line seems to be approaching the bottom. We do not know the power of this bottom, but the rule is simple when the time comes to buy/sell we do it. No questions asked beyond the risk/reward measurements. So, Even battered Gold may have it better for a while, even though I do not see the real jump until sometime Sept(stay tuned). $ may do a bit better at least for few more days, even though this poor soul is in trouble after Sept. Good Trading
9 comments:
Boris,
thank you.
Old John
Good Morning John,
Good To see you back.
Good Trading
Boris,If we are still in a short position,I take it from your post ,that now is the time to cover and get ready to go long, or go ahead and buy?
Dear Chrnictown, I believe it could work out that we are still going to get a quick sharp early sell off, where I would have covered my shorts ( if lucky , at one of the limit readings). But it given a reasonable chance that we may not get it, it could be almost just as reasonable to cover. I would "wait" until pain got too bad or got my wish and downdraft gave me a chance.
Good Trading
My guess is we get a 10-12 point bounce, then down, maybe to 1400.
Dear SQROOT, that maybe a good scenario, or just watch YEN, it, in my opinion, must make one more visit to 114 area. That would be nice.
GOod Trading
Dear Boris, it still seems like time is being distorted a bit. Take your white line and bump it forward slightly. No retest of 1370 at this time.....I don't know, just what I see. Daveo
Dear Dave, I did not see retest before and I do not see it now. I think probabilities do not favor sharp sell off towards the August lows.
There is never 100% correspondence between the outlook and the actual action. What is critical is/are the critical times and that is when the correspondence counts. You imply that this should not be a critical time and if that is so , then I agree completely. This is just a bigger than "planned " pull back?
If we get a retest we will have to change our tune, but where I stand this not it.
Good Trading
Sqroot, your bounce was dead on, now maybe the down part will be correct!
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