Decline
Stock Market Under Distribution for the Past YearThe stock market has topped. Volume has been highest on down bars for the past 12 months. Up volume during this time has been much lower. This is happening at the 2.618 Fibonacci extension level after a protracted starting in 2012. This is making a round top. It has taken a long time. My belief is we will see large declines in 2016. I won't try to forecast how far or long the market will go down but I do believe the decline will be significant.
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We all expect Bitcoin to cool down because todays price is simply too high. Unbearable.
Todays price counts expectatons 20 years ahead.
Real price should be approx $100.
These days /till December 31st / we are in overall declining trend. However it is reasonable to expect a retracement to previous low /$435/. Nevetheless we can be sure of future buck wild price moves.
Thus Bitcoin must go down once it reaches resistance around $435 and decline at least to $380 or even lower to $300.
GBPUSD decline is now expected to resume toward 1.5340– 1.5240So finally my channel is now broken and i am expecting this decline to resume toward 1.5340-1.5240 area. I am not going to buy this pair right now instead i will wait and look for a opportunity around 1..5340-1.5240 to buy it.
EURUSD SHORT ?Ok so i've seen this kind of pattern before when i lost alot of money but anyway by looking at this chart i think EUR will make a new low if it breaks that support which is likely becuase most of the people will enter for long positions here just because they think that last time EUR bounced from this point but this time it won't if the statement made by someone is true which is ( 90% traders lose money ) <--- Whatever it is i don't care but i am likely to stay on short side of eur instead of buying it.
2 impulses that can make a lot of differenceIn this chart i have contrasted 2 ways to count the recent gold's decline.
In blue there is the wave count expressed by the EWI, that went open public in a video released the last week.
In black is my view of the wave count (I hold from at least since year or so that this decline have a very significant 3)rd wave extension)
Both wave counts have the their's weak points and how seriously each analysis consider it's weak points makes the difference.
Of course, I'm not claiming be the best doing this, do not get me wrong, my only intention with this post is to explain why and how using the very same technique 2 analyst can have in a major agreement (both of us think of this as impulsive decline), minor differences that could lead for moments to different perspectives.
Why did I choose the black count? mostly because an impulse that you can see at the beginning of the decline.
That remarked impulsive after my 2) label, is one of the weak points for the EWI wave count. They integrated this impulse in a very long X wave to explain it as part of a ZIGZAG. The only problem i have to see EWI's ZIGZAG is that it's c)) wave ends with no great difference from the end of it's a)) wave, think some how uncommon, besides the fact that in a combination the connecting waves (the x's) do not tend to be longer than the corrective patterns (like w, y and z).
My weak point is the 5 of 3) that was kind of tight it's end vs the 3 wave. with some broker's charts even appear as truncated.
And the weak point for both and that could lead to a very needed alternative count if continues is the last remarked impulse (with light gray) that shows a kind of impulse. Is not totally clear as an impulse but could be. And there is where both counts could get more different.
$FB is poised to decline!If my wave count is correct, then $FB should start another phase of decline.
