Thursday, 6 June 2013

SPI200, almost there

Hi Traders,

As I said on May 28th, the SPI200, now at 4805, is believed to perform a large Zig-Zag till mid September.

Given the main uptrend, this is a major correction named "wave 4", probably an "a-b-c-d-e" (or just an a-b-c).

Right now, we might be close to the bottom of "wave a".

NOTE: wait before entering the new uptrend named  "wave b" as there's still a chance of  a "sort of double bottom" for "wave a", meaning another little leg up to level 4825 - or even 4856 - followed by a small leg down to the area 4774-4751.

This is due to the number of waves in the 1-hour chart that still don't add up. In fact, there are only 3 waves down, out of the expected set of 5.


likely: area 5009-5004
possible: area 5033-5036
maybe: area 5085-5104

wait till the number of waves downward - in the 1-hour chart - is completed (5 waves).

wait for the signal from the wave oscillator in the 4-hour chart.

SPI200 weekly chart: click to enlarge

SPI200 daily chart: click to enlarge

SPI200 4-hour chart: click to enlarge

SPI200 1-hour chart: click to enlarge

Monday, 3 June 2013

EURUSD, resuming the downtrend

Hi Traders,

The EURUSD - now at 1.3024 - retraced almost exactly 61.8% in 5 waves (check on your 15 min chart) and it is now supposed to resume the main downtrend to 1.2445 and lower, unless it is stopped by the major support at 1.2886.


If this analysis is correct, the EURUSD is performing a downtrend by means of  5 waves minimum - see the weekly chat below - where wave 1 and 2 are already on the paper.

Note the last vertical line in black on the right hand side: if the 36 weeks cycle is repeated, the downtrend should start this week. 


daily chart

likely: area 1.2752-1.2744
possible:  the area 1.2658-1.2688

weekly chart

likely: the area 1.2457-1.2520
possible: 1.2328

Note the cycles in the weekly chart below. Also, check the targets (blue horizontal lines).

weekly chart - click to enlarge

daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge