Thursday, August 6, 2009

One More Thing


I wanted to add the trend lines for the ED that completed today because price broke below the lower trend line ans they show something interesting.

If price were to move higher tomorrow and back test the line, it would hit approximately 1002. Do you see what the lower trend line intersects?

The lower trend line crosses through the 1002 level, which is right on the money with the price for minuette 'c' if it were 1.618 x minuette 'a'.

This will be interesting to see play out.

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