Comment by talisman on August 12, 2012 at 4:01am

everything in your chart is pointing down.  i have no idea where this will go ( and i hope you re right that would be a lovely trade) but myself i would need something a little more convincing to be so longterm up.  i wouldnt doubt we see a corrective move up to the top of the range you ve drawn but i would be hesitant to call it much further than that.  just my opinion of course , and my trades usually only target moves that last a couple of days at most. good luck.

Comment by Kathia Lavie on August 13, 2012 at 10:49am

 

Hi Tailsman

Thanks for your comment. Just to explain: Head and shoulder inverted means uptrend (not everything points down).  That’s what I am showing, the trade is close to the support that forms the head and shoulder pattern which indicates long trades.  Also I’m showing a medium/longterm trade based on fundamentals and technicals. This is based on daily chart analysis not the h4 or lower.  

Kathia

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