Tuesday, October 12, 2010

BBTN - WAVE 5-i OR ALT WAVE 3-v

TODAY BBTN BREAKOUTS RESIST 1940 & MANAGES TO MAKE A NEW HIGH 2000 BUT CLOSE BACK 1980. TRAILING STOP UPDATED: CLOSE BELOW 1920.

THERE ARE 2 SCENARIOS CAN HAPPEN FOR THE REST OF THE WEEK & NEXT WEEK:

1. IF PRICE MANAGES TO CLOSE ABOVE 2000, THEN THE RALLY SHOULD CONTINUE TO TARGET 2150.

2. IF PRICE FAILS TO CLOSE ABOVE 2000 & PULL BACK TO 1920, THEN WE'LL LABEL IT AS WAVE 5-ii. A GOOD CHANCE TO BOW (BUY ON WEEKNESS) BEFORE WAVE 5-iii STARTS WITH TARGET 2150 & FINAL 2450.