Thursday, November 14, 2013

1800+ coming

The market broke out of its previous range as expected in what is likely to be a W3. So I am expecting higher highs ahead, most likely in the 1800+ area before we see a bigger correction. As it is, my 1790 target has been hit and the entire LT Int wave is complete but that target just means W1 is equal to W5 and the market is free to extend its 5th wave. So for now, I am holding on to my longs and I am glad I sold my hedge yesterday as it is substantially lower already.

Additionally, anyone interested in buying Bitcoins to trade or to diversify, check out Coinbase which is the easiest place I found to buy and sell Bitcoins.

Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish

* Trends are not trade signals. Trends are posted for situational awareness only and does not take into account wave counts, technical or fundamental conditions of the market. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking into consideration other factors. 

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