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Showing posts with label AEX. Show all posts
Showing posts with label AEX. Show all posts

Monday, February 6, 2012

Elliott Wave Analysis of AEX

Scanning some of the European markets, i came across the AEX, which appears to have a text book looking Ending Diagonal setting up

Risk is the the red line as wave [v] can not be longer than wave [iii], the RSI suggests that of a signature of an ED

All in all this is a VERY low risk setup for a potential move back under the Sept 2011 lows

Imo that appears as a ABC advance to correct the previous decline that started from April 2011 highs

It would need something very impressive to kick in a Bullish 12 12 12 Wave count here

I dont know nothing about this market, but i know how to count waves and find low risk opportunities, and this is one right here

Under the wave [iv] of the ED is the 1st clue