Thursday, January 31, 2013

Flash - Jan 31 - FKLI may be forming another triangle

Hi All.

After got kicked out of trade several times for my FKLI day trades. I went back to reassess the short time frame chart.

On FKLI 5min

The overall setting is an ABC upward correction wave, & we are currently at Wave C.
I observed that price is moving sideway with slight upward bias, since we hit the low of 1,605 yesterday (Jan 30).

The price movement is getting more & more similar to the previous rebound from 1,601.5 low on Jan22 plunge, which eventually developed into Wave A & end at 1,639 high earlier.

A quick plot of S&R trendlines gave the following chart, a little messy...oops :p

FKLI 5min - Wave C unfolding into another a-b-c-d-e triangle? (Jan 31)

Well....this theory will solve the mystery of why I keep getting kick out of the game....-_-///
Happy Hunting!! :)

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