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The toughest projections to make are corrections after the completion of a major directional move. Shallow? Deep? 25%? 60%?
Such is the case with USD/YEN in the aftermath of the start of a new up-leg from its June 13 low at 93.79 to its July 9 high at 101.50. (more…)
Excerpted from NFTRH 250 (August 4, 2013)
Momentum:
While this top we have in place right now has not yet confirmed itself as a top, the only way to consider it a top of all of green wave (3) or yellow b would be with a truncation in place. Those that have been with us for a while know that I am not fond of truncations, as they are very unreliable trading cues, and are often invalidated as tops. (more…)
