Bleck

Bleck

Price could keep going lower for another day or two down to the 138.5o area at which level I would look on an hourly chart for a reason to go long. IF so, i would have an initial stop loss just below the B point and look for an initial target back to the 147 level!

Bleck

Possible bearish cypher complete !

Bleck

On a daily time frame we just had the completion of a bearish Cypher which also happen to be close to an area of previous strong resistance. This level could also possibly mark the end of a very large triangle 4th wave (not shown on the chart). I am now looking for a reversal pattern ( double top, shooting star, bearish engulfing) to go short again the 0.7835...

Bleck

Looking for another couple of days pullback down to the 1.24 area which should offer an opportunity to go Long ! I am opting for a still developing wave 4 circle as a flat. We would be in wave y green at the moment with potential target between 1.30 - 1.36 ! I believe all other GBP pairs offer similar upside potential over the next few weeks ! Just my views !

Bleck

As per my count, i would expect oil to move up another 6 to 10 dollars before hitting a top ! BUT, IF this is the correct interpretation it also means that later during the year oil should start to reverse and move down again to the low 20's or even lower !!!!!!!!! This is a long shot BUT this is what the Elliottwave count suggest IF my labelling is correct ! Just...

Bleck

A couple of weeks ago i posted that I was looking for a retest to the 100 area which we did this week ! So what's next ? Is wave iv red complete ? I don't know but this area was a strong resistance in the past and should now act as a good support. Also, after a 5 weeks moving down, one could expect a bounce at this support. So my bias is to the upside !

Bleck

Kiwi might be very close to move down very soon ! Am just waiting for a reversal candle stick pattern ( bearish engulfing candle or a doji or a shooting star) ! Currently it is retesting the neck from below ! We should soon find out what it wants to do !

Bleck

Trend has been dow very hard on the cable ! Wave 4 circle could be complete BUT look very small and shallow. This has me looking at a possible flat for wave 4 circle which mean that we could form a bottom (or even a double bottom for wave b of the flat) and start moving higher soon all the way to the 1.36 area !!! (previous 4th wave area and also open gap !!)...

Bleck

Comments on the chart !

Bleck

Comments on the chart !

Bleck

Comments are on the chart ! We had a double top a fews ago along with some overbought conditions ! Retracement down to the 0.382 - 0.5 Fib area seems likely at this stage !

Bleck

A couple of weeks ago i published a post saying that I was looking for a short in the area of 1.0850. This price was reached a couple of days ago and reversed sharply ! Any pulled back should be sold now against 1.0873 with a target down to parity over the next few weeks or months !

Bleck

Gold should keep moving lower in a steady way to much lower level ! Initial level will be a retest of of the lows of December 2015 ! As previously mentioned in an earlier post a few weeks ago, I believe that Gold will go down all the way to the 700 ish level during the course of 2017 !

Bleck Updated 

We can arguably count the first leg down from the (e) top complete ( 5 waves down). Ideally the euro would retrace back in the area of 1.0850 ( Previous structure, open gap and a bit more than the 0.382% retracement) which should offer a potential good level to establish a short position in the anticipation of the next wave down to parity !

Bleck

I don't trade this pattern ( haven't tested it) but as it is an important pattern in classical technical analysis i just wanted to draw the attention to a potential one ! Good luck

Bleck

After an initial 5 waves move down in the beginning of the year we had a large complex sideway consolidation (possibly a triple zigzag) for most of the last 6 months. This correction seems over to me and I am now looking at smaller time frame to enter on the short side ! Another 5 waves down should come all the way down to the 1.30 area. This move from the high of...

Bleck

The euro broke down hard over the last 10 days ! Ideally euro will come back around 1.0850 ( open gap, retest of the (d) leg) before going lower again ! I don't know if the market will give it to me because we have been in a large triangle for almost 2 years now and as such the market might just shoot straight down to parity !!!

Bleck

As per my working count, price has come down in my potential reversal zone in a possible couple 5 waves structure . The strong reversal of the last few weeks may suggest that we might be at least in a correction which should last weeks and months with an initial target around 1.83 ( previous 4th wave, 38.2% retracement and also open gap !! Pull back should be...