Staggi10

Staggi10

Gold is close to ATHs again and we are inside the range of what I believe to be a consolidation of a wave 4 of 3 of C. The bigger pattern could be an ending diagonal. Today is CPI news for the USA. Very important indicator for the FED. Higher inflation could strengthen the USD and briefly send gold down. I see a lot of overlapping structures with several of 3...

Staggi10

The strong move down today opens up a different possibility! Still don´t think the correction is over but it took a detour instead.

Staggi10

Please check my previous chart on AUDCAD to understand my main idea. I still remain cautious and believe that the bulls haven´t won the fight just yet. Short-term I believe we will go down for about a week until we will learn about the nature of the price action. Bearish case = We just finished a wave 2 and made the first 1-2 of a longer wave 3 down. Bullish...

Staggi10

GBPJPY needs to push higher since we broke out of a triangle ABCDE pattern and price didn´t bounce off from a fib level for further continuation down. Currently, price is moving inside a wave c of (B) [blue count, intermediate level). My expectation is a rejection from the 78.6% fib level to continue down for the wave c of 4.

Staggi10

During the last days Matic broke the previous low and therefore invalidated some of the Elliott wave counts going around that I have seen. Currently price sits at the 88.7% fib retracement of what I believe is the end of the wave 2 (primary grade). What I have to admit that I haven´t seen is a WXY formation for a wave 1 but this could be lack of experience. I...

Staggi10 Updated 

The Yen is the weakest currency you´ll ever see but even such a trending market will eventually need a break. The chart is the weekly time frame of GBPJPY and I expect in the next couple of weeks the beginning of a larger corrective move to the downside. Right now it is too early to say when we see the start of the retracement but around 208 - 210 is a good...

Staggi10

My previous analysis showed an ABCDE corrective move as one possible outcome. This pattern is completed and we broke a support level that price has been leaning on several times before. All of this is to me indication that price will continue bearish until the red wave Y finds its end point. First after that the pair may revert to a bullish period again.

Staggi10

We had some good news from the US both for the production sites but also a new big contract! We "can´t" go lower than that and that´s why I believe we will go up from here but there are two level that are crucial and price needs to go past them. I can´t really make a new bullish count yet - wait for next update! These low levels have been appealing to me and I...

Staggi10

If I look at the structure and wave extensions and also that we have an overlapping wave pattern that seems to be trapped in a channel the conclusion that I draw is that we will see more downside to finish a wave 4 or what I deem more likely a wave B or X. You can´t see it on this chart but if we would zoom out what we can see is GBPAUD is in a multi-year...

Staggi10

I have to admit that I´m surprised how accurate my count has been so far. Can I say that I followed through all the time? No!!! Analysis is one thing but trading and not getting discouraged by the market is another thing. AUDCAD is reaching my target zone from where I believe it will turn down again. This scenario gets invalidated if the first major high to the...

Staggi10

This is definitively not solely my own idea (my previous count was invalidated) and I looked around for different analysis and combined it with my own understanding of Elliott wave. It looks very much like gold is going to climb to new all-time-highs again. The bull market is definitively not over and we might actually see prices around 3000$ at the end of that...

Staggi10

The dollar remains strong and as long as it climbs the AUDCAD is going further down. At the moment the triangle scenario seems a little bit more favorable as compared to a regular wave B up. Until further notice I remain bearish on AUDCAD!

Staggi10

Meyer Burger has faced an enormous uphill battle ever since the shift from being a company known for manufacturing machines for solar panel production (and more...) to combining everything under one roof and sell mainly solar panels. The market reacted very positive to begin with but huge inflow from subsidized and therefore cheaper chinese solar panels made it...

Staggi10

Still believe that the push up is just part of a corrective pattern. (see my previous chart!) I guess the week will begin with a bullish move to let the market breath after Fridays fall from heaven. Also, some fundamentals might give fuel for another push up before continuing further down.

Staggi10

One thing is clear this price chart is a mess! On almost all TF we have multiple three wave patterns which makes it quite difficult to read. However, I do have three possible outcomes but all will eventually lead to more downside momentum in the future. 1) The last WXY (in red) is currently in the wave x and price will eventually go higher and bounce of the...

Staggi10

I still have a long-term bearish outlook for AUDCAD but I do see two ways of getting there. 1) A regular three wave corrective pattern going up into the upper blue-green box and from there price will fall significantly. 2) Instead of a three wave pattern we could deal with a triangle corrective move and we just started the wave D which will be followed by a wave E...

Staggi10

Gold has been very strong the last couple of weeks and it may very well just continue but I want to share my wave count (which I hope is following the rules of Elliott wave correctly). I believe we are in a very strong irregular wave B of an ABC for the wave 4 on the weekly & monthly TF. The wave B itself is a WXY formation. One argument against this idea is that...

Staggi10

EURGBP has proven to be a very complex chart pattern. Given the very overlapping price action I believe we are dealing with a corrective pattern as shown by the numerous ABC (three wave) formations. Overall, I guess this is a WXYXZ pattern that currently is trapped in between a support and resistance zone (red boxes). My belief is that as long no significant...