Bleck

Bleck

Looking at a possible larger triangle to complete soon ( or already done?) ! One leg lower first would complete the pattern best for the e leg even though it might already be in ! Not sure if d leg is complete but a break of the descending trend line from b would hint that the break higher would probably be on its way ! A retest of the green box would offer a good...

Bleck

I am looking at a possible large bearish triangle to complete (daily chart). IF this is the correct operative pattern, then ideally Euro should push a bit higher in the 1.13 -1.14 area ( Bearish Bat for advanced pattern traders / important structure area) This would complete wave c of E (green colour) and then set the stage for a big move down to the parity level...

Bleck

Potential Head & Shoulder pattern on the daily chart ? Aggressive traders can go short at market with S/L just above right shoulder for a target down to the neck line around 0.6950 ! Any comments ? Thanks and have a nice day !

Bleck

As you can see, my current working assumption is that we are almost (if not done) with wave 4 magenta ! There are a few interesting points at this level ! GBP retraced 50% of the previous 5 waves leg down ( iii magenta), we have wave w=y and we are a the level of the previous wave 4 of one lower degree ( a common occurrence in Elliottwave analysis). We also have a...

Bleck

My current working assumption is that we are in a very large triangle consolidation since March 2015 ! This week brought the Euro back to about 5 pips from my C green wave !!! This labelling is still valid unless euro breaks above the top of wave A green (1.1714). IF my count is the operating one THEN Euro should start very soon to go down to the 1.08 - 1.10 area...

Bleck

Gold has broken to the upside and is now in territory of the previous red circle wave 4 (which i labelled as a triangle). Therefore there is a good probability that it will stall between where it is now and the 1430 level ( wave A of 4 circle ) As it looks to be developing in 5 waves at the moment, this initial leg should represent only a wave A of a correction...

Bleck

Cable should find some important resistance in the area of 1.46 as we have an important structure level ! IF my operating count is correct THEN we are very close to complete wave iv (magenta colour) which happen to be also the level of wave (iv) (blue colour) . This would imply a move lower below 1.3835 over the coming weeks ! Just my thoughts :)

Bleck

Possible large triangle completed as long as 1.1367 (wave C is not broken) Over that level we could still have a larger triangle in play with a a complex wave C still in progress !