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Tuesday, May 18, 2010


As for the EURUSD, I'm not liking at all the price action, because... I'm long. I may have to cut my losses. The price action may be a bit different than the count I had put up before. This may still be the 3rd wave within a very big third wave...

Since I'm a bit lazy to draw a new chart right now, I'm going to put up a chart from a fellow poster from another blog. He's a very good chartist and I may have to agree with him on this one after seeing the last 2-3 sessions for the Euro, the momentum, breadth etc have been increasing by a lot making me suspicious we're still within the 3rd wave extension... If 1.20 doesn't hold, I'm out...

Here's the chart:

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