After realising I was using MA, I've changed to 200 & 300 EMA as marked in the chart. Price has bounced of the 200EMA about 4 times with one short breakthrough. I'm guessing after banging on the $600 roof we will break down through the 200EMA and at least hit the 300EMA which funnily enough crosses at my 50% fib extension target of ~$421.
(I've extended both the EMA's with dotted lines. Not sure if this is common practice but gives me an idea of where we may touch in the coming month.)
I'm hoping it will continue through to my next target of ~$651-361 which happens to be both the 61.8% fib extension from the larger wave (Dec 2013 top) and also the138.2% fib extension from this current wave (March 2014 top).
Time will tell....... Stay tuned my friends.
(I've extended both the EMA's with dotted lines. Not sure if this is common practice but gives me an idea of where we may touch in the coming month.)
I'm hoping it will continue through to my next target of ~$651-361 which happens to be both the 61.8% fib extension from the larger wave (Dec 2013 top) and also the138.2% fib extension from this current wave (March 2014 top).
Time will tell....... Stay tuned my friends.