Monday, January 4, 2016

1/4/15 - EOD Update

Well last week's long trade was a bust. The H/S I mentioned last week played out  and the bulls also lost their bullish count on the 15 min chart.

I relabeled the 60 min chart, which at this point looks like a double zigzag (w-x-y). On the 60 min chart I have the count in a wave a of y.

Its one big choppy mess up here so the triangle on the daily chart is still in play and makes the most sense at the moment.

Its not complete doom and gloom quite yet either since there is a potential bullish pennant in the works.

60 Min 

Daily

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