difficult task for fWIG20 Index

good morning,

It seems that we are experiencing a correction in the Index of the largest companies quoted on the Warsaw Stock Exchange. 

As I showed and warned in an entry dated November 17 <chart 1> regarding the possibility start of the correction with the maximum levels with the end a growth wave <chart 2>. Then, I recommended them short positions at 2600-2615. At this time, profit is already 200 points using only a single futures contract.

chart 1. fWIG20 Index Daily, published: 2013-11-17

chart 2. fWIG20 Index Daily, published: 2013-12-13

After completing 5 waves shown in chart 3, from 18 December, the financial market is trying to achieve correction. Unfortunately, at the moment it looks like a "tilting at windmills". With the weak sentiment in other financial markets, the Polish market will be hard to reach the levels indicated by me where potentially should end correction. It's hard also at this time, the formation may have read this correction.

chart 3. fWIG20 Index H1, 2013-01-04

There is also a high probability that the correction already ended and now it is possible continuation of the falls to the levels of 2300 points.

My recommendation: "short position" with Stop Loss in 2492 points.

trade safe,

oscarjp,

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