Funny, was just going to post this and see you (Phoenix1) curious - just a coincidence if you believe in them.
I'm not going to play any bounces right yet. I'm going to see if any rally takes us through the 100 day EMA. We just crossed (under 10 day EMA) for the first time in a looooong time.
The 20 day or so EMA hasn't crossed and to be honest I have just played around with the 10 and 100 day - don't know that it is an accepted method.
The 10 day SMA has crossed under the 10 day EMA (slightly bearish) and that is accepted so I will still wait and look for strong confirmation of a reversal.
Regarding the hourly candles - well, the 4 and 1 hour are not doing anything and even the 15 min charts look the same. $100 is a key psychological barrier. And even if we break it, do we stay
above it for long? Next few days will be interesting and I'm curious is our WE dumper (and perhaps rescuer) re-appears.
I have analyzed by this method again in 2011:
I do not predict trend in 2013 according to 2011 bubbles.
But, who in 2011 according to this method sold and bought spared large losses (sold for 10 to 12, bought for 2-4, it is more than 250%).
Also in 2011 but the price of most collapsed after breaking Support on about $ 12 and the uptrend started to price first breached the "red line".
On the other hand, in 2011 was vastly different accumulation and distribution.
I still expect that if he falls below $ 92 a declining trend even faster this year. If we break up triangle, uptrend begins.
I believe that will see up to 10 days the end of the triangle.
