the key now is to determine whether Vmm is on the commencement...

the key now is to determine whether Vmm is on the commencement of wave 3 and hence the new uptrend is being currently formed. As can be seen from the chart the channel is being formed though at its infancy. What we want to see is a channel to be maintained and the uptrend support to be maintained leading up to the mre - I would be surprised if we do not match Mei.


so if you see the basics on channnel and attempt to determine the next phase - we have 2 scenarios we want to play out . Sideways consolidation and it has reentered the horizontal channel of Jan to end March. 1.05-1.27/8 in yellow or the new channel in rel with todays support at 1.125 and resistance 1.27. If we continue up this we will be squeezed at the 1.27/28 to 1.31 in the next few days.