Generalmonkus

Generalmonkus

Looks corrective. Where the top is though, who knows.

Generalmonkus

Expanding triangle correction, now a new impulse up I think.

Generalmonkus

You never know!

Generalmonkus

Wow! Incredible run, but reality undoubtedly will kick in at some point soon. Just even glimpsing the distance from the 200 day EMA is mind blowing to me.

Generalmonkus Updated 

Not sure if the current C wave (if this is actually a larger B wave of a zig zag) has finished and we already have an impulsive structure down...

Generalmonkus

Regardless of EW count, the new leg up looks impulsive thus far so looking to go long... just need to work out when this (assumed) correction (b wave?) has finished.

Generalmonkus

This fits with the idea that gold and gold stocks, as well as USD$ currency crosses have another up/retracement before a new leg down.

Generalmonkus

Look at volume on the GBP... would there have been a large spike if this was the start of a new trend down? Interesting...

Generalmonkus

GBPUSD long. 1.6 would be a good long area. I would like to say low risk with a tight stop, but there could be a spike down to knock you out before it goes up again. The lines drawn relate to clones so the move from jan 09 to jun 09 is cloned again now with two equal legs again (the 2nd leg forming v shortly back up to 1.84 ish. Unusual for a deep wave 4, but the...

Generalmonkus

As per request in comment to my last chart.

Generalmonkus

EW theory - one more touch of the bottom trendline and then higher possibly. I'll try a long if price gets there.

Generalmonkus

On the weekly, 'stochastics k' is holding and looks to be bouncing upwards. See orange highlighted circle.

Generalmonkus

What I've noticed in the past is that at each top in a potential triangle stochastics is OB... now stochastics has given a buy signal on the daily at the trendline for the potential triangle... nothing certain but odds here are bullish imho.

Generalmonkus

Thoughts on the pic...

Generalmonkus

OK so here's my take. Short term long Medium term short Long term long (pink arrow) - coincides with a deflation threat. Longer term short - coincides with painful inflation, which to be honest is already happening, especially with food prices here in NZ! Target wise, don't know for any of these move but the direction is what i'm thinking.

Generalmonkus

Longer term we somehow get to one or both of these arrows :/ solely based on simple fib analysis. In the shorter term... dunno!

Generalmonkus

This count is pretty critical to my thinking we are still in w4 of w5... the 3rd wave is still a fib extension of the 1st wave at 3.618.

Generalmonkus

A new view on gold... problem is where this last 'c' will end... so... abc (A) then abc (B), now ab...c