Wednesday, May 23, 2012

GU 5 waves down A B C

Well it's Wednesday-- looks like retesting the High/lows set last Friday. Either Wed/Thursday lots of news so reversal potential is higher. Here's the problem: UCHF has two high volume candles the first one price goes straight up = with the volume. The second candle is 1/3 the length but almost as much Vol. SO if USCHF is going up why wasn't the second candle as long as the first? Now look at AU -- highest Volume this week- appears after a 5 waver.
GU -- good chance this was the end or near end of a 5 wave C