An update to the Elliot Wave count I have posted previously. As long as the previous low for wave ii-(1)-3 at around 390 holds then this count looks good. Detailed price commentary including indicators to follow this weekend on my website, hopefully.
PayPal news seems more likely to be a reason/excuse to pump rather than a catalyst to the temporary bullish momentum in the current bear market. 4 hours RSI today still shows an underlying weakness in the market with its inability to break out of the trend developed over several months since the fall from the 680 rally. We are also hitting an upper resistance...
Here we can trade for two targets (1) 100% extension of wave A. (2)161.8% extension of wave A.
Here we can trade for two targets (1) 100% extension of wave A. (2)161.8% extension of wave A.
Selling third wave below one pip of wave (1). This trade is also valid according to AB = CD pattern.
Perhaps the C leg has terminated and new 1 to 5 waves has started. If we study this in weekly chart, this may be the starting of the third wave.
The correction is over and new uptrend is started.
Is correction of EURUSD over? The 88.6% of main trend and 161.8% extension of A wave are coinciding. Will this present buying interest?
There are two trade setups are possible first - (1) Sell the forth wave then (2) Buy the fifth wave
Why geometry works with numbers ... well, I could show you some of the stuff I have been working on, and numbers... regardless as how random or linear they may seem, have value associated.... sort of like Karma. Guessing when your going to get your Karma, is Forex ... a fickle bitch. The chink in this armor, is pretty straightforward... follow the trend. Guessing...
Tesla, aka the "stock of 2014" looks like its wild drive might be coming to a temporary end. As much as I love this company, I see us at a temporary top, and I am looking for a shorting opportunity in the 265-275 zone. Wave properties since March suggest we are in a corrective ABC flat, and are close to the B "top". Other indicators such as RSI and declining...
Price commentary can be found at the following post on my website. www.cryptowaves.com
2 months ago told you I was expecting a decline in the NZDUSD, then a little push higher appeared and did a little bit more diffuse the scenario. The main problem is because is hard to see a clear 5 patter although is not impossible to count one. If you consider a very disproportionate expansive triangle for wave iv) then is possible the end of this correction be...
US Dolar is on the run that's obvious fact lately, will it change or atleast run out of steam a little bit after this week GDP and Unemployment data ? That's another question. USD/CAD is in an uptrend in longer term ( atached idea with weekly wave count ) and if we would take 1,128-1,062 move as an corective wave 4 then it's time for last leg up which should...
We might see an attempt to fill the gap here after a poor ER, but in the next few months, we should continue to fall overall. It appears we are on a corrective C wave down, and if A=C, then we could go as low as 245. Wave 4 also ends right in that area, but to be safe, my target range is between 250 and 270. Good luck
Price has been trading steadily within a long term bullish Uptrend Channel, since Jan 2011 up till today (24 July 2014) Price has recently trace from High of around $81.00 (26 Nov 2013) and found support along the Uptrend Channel Line. We also note a minor double bottom (31 Jan 204 - 16 May 2014) within the Channel. This indicates a reversal of the bearish...