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Tuesday, October 9, 2012

$AMRN: EW count and forecast w/ Pitchfork lines.

If we are right in our count, now could be playing subminuette wave 3 of minuette wave 3 of minute wave 5 of minor wave 3,down. Pitchfork can help us to view some supports and resistances that are not easily  seen. If we are right, subminuette wave 3 has, first, a support at 61.8% Pitchfork line (PL), that was shortly break, after, this support was breake and act for a while as a ressistance until price went down to attack the 50% (PL) were rebound again to the 61.8% (PL). We think the 61.8% (PL) will be a tough ressistance so price, maybe, will be obligated to continue its way down.

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