why the current correction matters..., page-11

Hi Jaysee,

from Wednesday's action, it looks like CBA still has a little higher to go yet.

Whatever the overall movement up from $29.40 over the last week or so has been, the formation since CBA cracked $30.60 a day or two ago looks very much to me like a symmetric triangle which is just about complete. If so, there are two implications from this:

1. When the triangle finishes, CBA should travel at least the width of the widest part of the triangle - in this case, higher...

2. Triangles are usually the penultimate structure within the next larger structure, ie, second from last, therefore the waveform up which follows the triangle should be the last within this current structure (ie, starting at $29.40, I hope).

Anyone have any thoughts on this?

Regards,

Ultrafart.