Bleck

Bleck

I am looking for price action to give me a long entry around 0.8360 or so to start wave (v) red. This would take the price back above 0.92 at least ! Please follow your personal entry rules and check your reward/risk ratio ! Thanks for your comments. Best regards

Bleck

We have seen a nice reversal for the last few weeks and with a possible 5 waves decline complete from May last year, price action go be back on its way to the 150 or so level ! Pull back should be bought against the October lows !

Bleck Updated 

I believe that the Euro completed its (e) leg yesterday which means that the large triangle dating back from 2015 is over. It is very typical for the e wave of a triangle to coincide with some news event like yesterday election ! The euro went up sharply on the news and by the end of the day it had completely reversed all of its gain and even closing lower ! The...

Bleck Updated 

According to my my current count, this past week could mark a change of trend ! I can count the B wave as complete and this big reversal weekly candle might signal a much stronger $ over the next weeks and months ! In my opinion the trend will be up for most of the next 12 months and believe that any pull back should represent good buying opportunities !! :-)

Bleck

As per my count, I believe that we should be in the early days of a powerful move lower for the Kiwi! I can count wave 4 circle as complete and last week big reversal bearish engulfing candle could mark the beginning of wave 3 of incoming wave 5 circle !! A weekly close below 0.69 should mark the resumption of the larger bear trend !! A close below 0.6650 should...

Bleck

The AUD has been consolidating for most of the last 6 months with a cap around .77 on the upside and putting in higher lows ! As per my experience this should be positive for a break higher BUT the long term trend has been to the down side ! On top of this we just had a bearish engulfing candle !!! As such I will wait to see which way the market breaks with a...

Bleck

Based on my current working assumptions, I believe that cable should be on its way back up around 1.35 to complete its wave (IV). This represents the area of a previous 4th wave at a smaller degree of trend ( common occurrence ) and also where we still have an open gap following the Brexit ! This runs contrary to my general view of a stronger US$ against all major...

Bleck

I have to admit that the current triangle (as per my count) is a bit ugly but I believe that price is ready to move much higher over the next 12 months! A close above d would be an early indication and a close above b would confirm it. In my opinion the trend will be up for most of 2017 to complete green Y wave and as such any pull back should be bought ! :-)

Bleck

On a weekly basis, Gold should be in the early stages of wave C. We also had a massive bearish engulfing candle this week with the LT trend line acting as a resistance. The next 12 months or so should see a persistent weakening Gold price and as such any rallies should be sold ! The area of 700 - 720 represent an attractive level (previous support ) Just my views :-)

Bleck

In my previous posts ( check links below), I was looking for a complete (d) wave where the arrow is now followed by the (e) wave at 1.1366. Since then price action did go down but not in a 5 waves structure but in 3 ( as per my count). Therefore I have adjusted my (d) wave at the recent low and I am now just waiting for the (e) to complete. It should also divide...

Bleck Updated 

As I mentioned in a previous post ( check link below) if price breaks below (d), the euro should decline to its 2015 lows and most probably much lower !

Bleck

On this monthly charts, we can count a major 3 waves corrective pattern complete ! Price has also broken out from the down sloping trend line ! We also have a potential double bottom in place ! All of this could signal a major move higher in this pair for months, if not years to come ! Just food for thought !

Bleck

IF my count is the correct one and wave B is done ( reached the 0.382% retracement of A and enter the zone of wave 4 of one lesser degree) the clear break of the trend line from the end of 2015 would suggest that Gold should be declining significantly over the next 12 months !!!! Alternatively B is not finished and this would be wave b of B, implying a new high...

Bleck

On larger time frame ( weekly) we can see that wave C circle has already reached 0.618% of the length of wave A circle which would satisfy minimum Elliott wave guidance The next common relationship is equality between A and C which would imply a further drop down to 0.9535 !!!!! Just food for thoughts !

Bleck

The dollar index has been trading sideway since early 2015 ! But lately the range has been getting narrower ( lower high and high lows) and contracting in a possible triangle pattern ! This week closed with a bullish engulfing candle and possibly trying to break out on the upside ! The next couple of weeks should be very informative about the next major move in...

Bleck

If the triangle labelled with the black letters is the correct count, then we will need a break of black (d) to confirm that the euro is most probably heading down to parity or below ! If the euro breaks above black (c) then we will probably have a w, triangle X count which will imply a blue Y leg to above blue W. So watch these two key levels for the next larger move !

Bleck

The recent lows around 0.9540 might mark the end of a large bullish triangle ! A break above the 0.9950 lever along with the break of the descending trend line would be a very encouraging sign to support this interpretation ! All the best

Bleck

EUR/USD might have completed a large bearish triangle around 1.1360 which started back in 2015 ! A break of 1.0955 would be a first indication that the larger bear trend has resumed ! A further break of 1.0910 would probably confirm it Any feedback is welcome !