Looks like I was right about the DCL (daily cycle low) for the...

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Lies&damnlies

496 Posts.

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13/12/16

12:17

Post #: 21297539
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Originally posted by Lies&damnlies ↑

Hi Roy

Its been a good ride, I suspect that there is little more to go before this upswing terminates. In my earlier reply to you on the 27/10 I suggested January/ February top. The Fib's suggest now a top around 1.75 to 1.83 mark, but that's just a guide. However I think that this top is coming earlier , the very latest I would be holding to is the 29th of December. So far this upswing has been a 27 day run and too the 29/12 will make it a 39 trading day run (a very big run). There should be a DCL (daily cycle low ) before and around the time of the FED announcement causing a drop for a number of days. Thats 13-14/Dec. Aussie markets tend to have a Santa rally after this time. Its a good time to get out.

Have a look at the last two years charts. A significant downswing occurs twice to mid February. After such a long run upwards swing that the shorters have been riding I think that their action will start in the new year with mid February low as a target.

Roy I think that its again going to be a good time to sell high and buy low.

cheers Lies

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Looks like I was right about the DCL (daily cycle low) for the days around the FED announcement.
It's moved from 1.70 to 1.62 on tiny volumes. The BOTS are working overtime. Probably more to come over the coming days.

I suggest that you don't be suckered into selling through this downturn period. If you want to sell the do it into the usual Santa rally post Christmas. Will it come this year? I'm a stats man so I think it a 70% chance that Santa will still be giving out presents up to the 29th of December.

cheers Lies

TFC Price at posting: $1.62 Sentiment: Hold Disclosure: Held
4 Upvote

0 Great analysis

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Looks like I was right about the DCL (daily cycle low) for the...

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