These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.
The extreme short term trend is still down. However, if we step back just a little, we could notice a sideways correction, which is in the nature of consolidation.
Apart from this, there seems nothing more to add from Friday's analysis.
Quite a few people have contacted me directly on chat, saying that I am a fool, and I do not know the meaning or interpretation of certain technical patterns.
It does happen that we fall into the “classic pattern” syndrome. I would only suggest readers to please keep your mind open, and be prepared for any eventuality.
And keep in mind that the probability still remains upwards.
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