Monday, 10.10-2008

ZigZags days after days…….market getting nowhere. US Market closed with EuroDollar just above or 1.2700 horizontal triangle again. At the same time SPX 905 fibonacci support was touched again making late night rally. Today I shorted smaller bear diagonal inside from this EuroDollar triangle, but as bigger picture presents it should hold .618% retracement meaning we could go slightly up again, but if broken to the downside it could suggest a-b-c-d-e impulse where last e would be next candidate and in this case we would be dealing with new impulse wave. Either the case, pattern is starts to reach it limit soon meaning resolving this pattern should be this week issue. US Stockmarket will follow this pattern closely when the breake occures. UsaCad shot below also as HS pattern. (CadUsa makes it inverse).

Beautifull market this Forex Indursty, there´s real lot of things to trade every day and night & much less noise versus for stock market.