Date : April 2, 2008
Time : 10:30 AM +GMT 8
H4 : Chart form triple top. The critical area, strong resistance level = 201.79
H1 : Chart form double top. Previous High = 201.07
Preference : BEARISH... but at the moment it's not really confirm. Price has to break the key point, support level 200.88 for confirmation...
Suggested entry : Waiting for break out
My Future Prediction (Expectation) :
Bear candle will able to break 200.88 to confirm bearish.... and for long term price could reach 195.41.
The prediction will fail if... somehow... price from this current point goes BULLISH and break 201.07 level, the critical point for MAJOR REVERSAL (BEARISH to BULLISH)
Time : 1:42 PM +GMT 8
Unexpectedly... Price already broke resistance level 201.79 and H4 triple top became invalid.... It could mean MAJOR REVERSAL. There is no other option unless waiting for the next H1 candle for clues. Is it only spike or trully breakout???
If this is trully breakout (pass 1 candle)... I will waiting the best entry to BUY on deep ... at least 1 countered candle...
As I said everything depend on probabilities... anything could happen on FOREX.... it doesn't matter what counting of EW ... or what pattern of chart. Fortunately... my suggestion for SHORT entry.... "wait untill truly support level breakout".
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