Thursday 19 September 2019

JSE Top 40 Futures Index

Head and Shoulders are addictive and don't appear to work all that often. I prefer that they are middle-of-the-road types not too big and not too small. Foremost for me is the probability that this is the second 5th leg of the 5-3-5 pattern. An abcde pattern is my expectation. This small pause can be the b-leg or some further fiddle-faddle can play out, but not necessary. The low point here is near to the 38.2% retrace of the previous upleg. The c-leg should preferably target nearby the 61.8% retrace. Then the possibility of the big bounce or the continuation of the 5th leg will need further analysis.
The Head and Shoulders becomes a distraction.





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