Tmd Update312022008
2
12/2/20081:32 PM Pacific Here is the projected scenario from this morning with its targets back in vogue. To put retracements in perspective, the early afternoon swoon erased a little more than 81% of the previous wave up; an .810 retracement. Retracements that deep are difficult because they shift the perspective of price direction for most traders (including me). Remember that what happens on a micro scale can also happen on a larger level. Keep today in mind if over the next day or so we approach the .810 retracement level on the 60 minute chart.
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Market analysis from TheMarketDetective.com that utilizes the Elliott wave principle and Fibonacci analysis.
Transcript of Tmd Update312022008
12/2/20081:32 PM Pacific
Here is the projected scenario from this morning with its targets back in vogue. To put retracements in perspective, the early afternoon swoon erased a little more than 81% of the previous wave up; an .810 retracement. Retracements that deep are difficult because they shift the perspective of price direction for most traders (including me). Remember that what happens on a micro scale can also happen on a larger level. Keep today in mind if over the next day or so we approach the .810 retracement level on the 60 minute chart.
12/2/20081:32 PM Pacific
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