Afren(Will It, Wont It)

SRB,

I think the best place to enter would have been the re-test of 126.30, being the bottom of wave (( a)) but never mind,: there's always another chance:)

Hi richard
me personally would like to see the 2 point move lower so its really clear to see.But yes it could be as the 2 point is lower than the previous days candle by 1/10th of a penny(hense why im not a fan of doing things this way)

Remo been looking for the right entry and a 123 bottom for Afren and would like to know was the one day leg down good enough to be considered as wave 2 or do we have a new wave 1 high today.


www.screencast.com/t/PwWqyQuKISo

Tight Lines

SRB

Looks like this is just about re-testing the 126 low and spot on the trend line and fib target zone

This is now approaching the 'sit-up and take notice' area.....



The SP is now approaching a 61.8% retrace of (( c )) of ( W ) and also the short-term trend line. If this support fails then look to the long-term trend line and the 76.4% fib at 109ish. More detail can be seen on the daily chart as under......

This continues on it's path toward the trend line and support around 110ish.....