FRA40 – NAS100 – GBPJPY – Eod Short
August 27, 2010 § Leave a comment
As expected, the american indices are not tradable short now on the 4h anymore. The last trade I did on the sp500 was a wave 5 and I’m guessing the major part of it is over. Who knows how many divergences there are going to be – it looks like the 1h still needs to make another wave 5 down, so I am expecting this to come lower.
I am also holding a NAS100 eod position that I enterd short but forgot to post the day before yesterday. See the picture below for exact entry and stop info. Still all the same with FRA40. Iam unsure of what wave we are looking at on the daily. On FRA40 it could be a wave 5 down. The weekly looks like it’s ending its wave 4 and we are in for a wave 5 down, however, on NAS100 5 waves had already finished and this could be an entire new move. Who knows what is going on in this weekly wave 4. Note, one wave count says we are going up on the weekly, the other says we are going down on the weekly. I am assuming one of them is wrong since the indices don’t move in complete opposite directions. So let’s see how it’ll work out. I am just following now.
Even though it’s against my rules I entered a currency .. gbpjpy short since 130,80. It should be a wavev 5 downwards on the daily with a new low below126,72 as of 05/20 of this year. We’ll see how it ends.
Gold is also still working but there is nothing going on there… probably some slow action for some days.