Evening star formation hinting at major reversal after 11 swings
Last year we put in the proposed wave B (25-03-2013) , and since then the market has
been rallying in a complex structure.
The three last weeks price action has formed a evening star formation on the weekly chart
which warns that a major top could be in place.
In the short term,we could still see more upside, but the move off last weeks lows
have been very weak. The next short term move will decide if we will see more
weakness or countine higher.
Looks below for long term chart and alt. view.
Follow all my demo trades at www.myfxbook.com/mem.../tlkemmy/demo/854232
Good luck!
been rallying in a complex structure.
The three last weeks price action has formed a evening star formation on the weekly chart
which warns that a major top could be in place.
In the short term,we could still see more upside, but the move off last weeks lows
have been very weak. The next short term move will decide if we will see more
weakness or countine higher.
Looks below for long term chart and alt. view.
Follow all my demo trades at www.myfxbook.com/mem.../tlkemmy/demo/854232
Good luck!
