Looking at the chart prior to Friday. It did look like a Rounded bottom pattern with handle. After Friday's action and a few more signals coming to light. I can also see this as a 5 + 3 wave pattern. With us sitting in the A corrective phaze. My strategy is now to receive the confirmation of
A) It being a handle, therefore we should see a continuation on Monday.
B) It has in fact entered the A,B,C corrective waves and we see a retrace to 4.8.
As I'm not in at present. I am only awaiting the confirmation before I re-enter. Higher lows are only one signal. We always have to take the entire charting landscape into account. Without higher lows the 5 + 3 wave pattern would be unable to form.
All in my opinion.
NMR Price at posting:
5.4¢ Sentiment: None Disclosure: Not Held
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