Friday, 9 August 2013

EURUSD wave count

Hi Traders,

The Euro stopped at the resistance at 1.3400 and completed every possible Elliott Wave count. In addition, the last rally occurred on a constantly falling trading volume (see daily chart) and performed a major double top (weekly chart).

If this analysis is correct, the currency pair has exhausted its upward energy and should start a downtrend.

TARGETS

likely: 1.3265
possible: 1.3147
maybe: 1.2998
medium term: area 1.2777-1.2742

ENTRY

There could be another (very minor) attempt to break the resistance at 1.34. Just wait wave for wave oscillator (4-hour or 1-hour chart) to give you the go.

NOTE:

Need to improve your trading with Elliott Waves and Wave Oscillator? Don't hesitate to contact me.




monthly chart - click to enlarge





weekly chart - click to enlarge





daily chart - click to enlarge





wave oscillator over daily chart - click to enlarge





4-hour chart - click to enlarge





wave oscillator over 4-hour chart - click to enlarge





1-hour  chart - click to enlarge





wave oscillator over 1-hour chart - click to enlarge




Thursday, 8 August 2013

AUDUSD, last leg down (for now)

Hi Traders,

If it stays below 0.9136 it's time to short the AUDUSD to catch the last leg down (minuette wave 5) that should take the pair below 0.8860, possibly to 0.8765 or 0.8578.

After this new low, a new rally should take the pair to the area 0.9395-0.9700.


TARGETS

likely: 0.8860

possibly: 0.8765
maybe: 0.8578

ELLIOTT WAVES


Daily, 4-hour and 1-hour chart show that we completed wave 4 out of 5.


ENTRY


There should be a small rally to 0.9100 or so, which is our entry point. However, check the wave oscillator built upon the 1-hour or 4-hour chart

NOTE:

Please contact me if you need to improve your trading.

Also check https://www.tradingview.com/v/G5RK7PV5/ 


weekly chart - click to enlarge






daily chart - click to enlarge






wave oscillator over daily chart - click to enlarge






4-hour chart - click to enlarge






wave oscillator over 4-hour chart - click to enlarge






1-hour chart - click to enlarge






wave oscillator over 1-hour chart - click to enlarge




Wednesday, 7 August 2013

S&P 500 reversing

Hi Traders,

The S&P500 (now at 1687) might be staging a Major Reversal on S&P500 as the Elliott Waves display an end-of-the-line pattern.

If this analysis is correct, we completed a typical pattern known as "the 5th-of-the-5th-of-the-5th-of-the-5th wave" which is, by definition, the best spot to start a major short.

The Wave Oscillator in the 4-hour chart shows a entry already (short). Not so from the the Wave Oscillator  built upon a daily chart.

ENTRY

There could be a minor rally to 1694-96 or so (1-hour chart): wait for this minor pullback before getting in.

TARGETS

likely: 1596
possible: 1530
maybe: 1417

TIMING

Note the Timing on the daily chart. This reversal was supposed to be on Aug 3rd (36 days) which, unfortunately fell  on a Saturday. Hence it was shifted to August 5th (38 days)

TRADING WORKSHOPS & ONE-TO-ONE
Please contact me if you want to make your trading profitable.

FINALLY
check this analysis on Google Trading View or StockTwits (Google)




weekly chart - click to enlarge




daily chart - click to enlarge




wave oscillator built upon the daily chart - click to enlarge




 4-hour chart - click to enlarge




wave oscillator built upon the 4-hour chart - click to enlarge




 1-hour chart - click to enlarge




wave oscillator built upon the 1-hour chart - click to enlarge


SPI 200, heading South

Hi Traders,

The SPI 200 (now around 5000) displays a breakout in the 4-hour chart to start a new downtrend.

TARGETS

likely: area 4597-4561
possible: 4455 and 4320
maybe: area 4173-4133

ELLIOTT WAVES

The SPI 200 is performing a large a-b-c (a Zig-Zag) and it started now "wave c" heading to the area 4473-4433 or lower.

TIMING

There's a possible Time Turning Point (TTP) around Sept 9-22, 2013 (weekly chart) and another around Apr 26, 2014 (monthly chart). Theoretically, the SPI 200 could reach a low around Sept 9-22 (weekly chart) and perform a new high around Apr 26. The other TTP in the daily chart (vertical red lines) may refer to a relative low or top for August 24-25, 2013




monthly chart - click to enlarge




 weekly chart - click to enlarge




daily chart - click to enlarge




wave oscillator applied to the daily chart - click to enlarge




4-hour chart - click to enlarge




 wave oscillator applied to the 4-hour chart - click to enlarge




1-hour chart - click to enlarge




 wave oscillator applied to the 1-hour chart - click to enlarge


Tuesday, 6 August 2013

WTI OIL, retracement

Hi Traders,

The WTI OIL (now at 106.33) performed a double top and seems to be ready for a juicy downturn.

TARGETS

likely: area 103.73-103.36
possible: area 100.60-100.41
maybe: area 99.20-97.35

ELLIOTT WAVES

Conventional technical analysis displays a breakout of the triangle in the monthly & weekly charts. ie: a new major uptrend (wave 1) started the last week of June 2012 and ended mid July 2013.

The daily chart shows that this uptrend was regularly performed with 5 waves up (from point C). Hence, we expect quite a deep retracement, possibly to the area 99.20-97.35.

ENTRY POINT

The 1-hour chart shows that if  you entry now you may be able to get a short up to the area 105.34-105.45 or lower. Alternatively, if you trade the daily chart or the 4-hour chart, wait for the wave oscillator to give you the go.

The 4-hour chart displays wave 1 & 2 (in magenta). This is usually a good entry point



monthly chart, click to enlarge





 weekly chart, click to enlarge





daily chart, click to enlarge





wave oscillator applied to the daily chart, click to enlarge





4-hour chart, click to enlarge





wave oscillator applied to the 4-hour chart, click to enlarge





1-hour chart, click to enlarge





wave oscillator applied to the 1-hour chart, click to enlarge

Monday, 5 August 2013

EURGBP, minor wave 4

Hi Traders,

after minor wave 4, a retracement to the area 0.8646-0.8570 (1-hour chart), the EURGBP (now at 0.8648 ) should be able to start a new rally.

If this analysis is correct, this rally should cause a breakout of the upper line of the channel (in the weekly chart).

ELLIOTT WAVES

The monthly and weekly chart displays the completion of a 1-2-3-4-5 (in magenta) and the start of wave 1 and 2.

The daily and 4-hour chart display wave 3 which is followed by the now forming wave 4 (not marked).

At the end of minor wave 4 a new rally will start with wave 5 and will probably cause the breakout of the upper line of the channel.

TARGETS

likely: area 0.8646-0.8570
then,
possibly a rally to 0.8834 and 0.90300


monthly chart - click to enlarge


weekly chart - click to enlarge


daily chart - click to enlarge


daily chart with Wave Osc.- click to enlarge


4-hour chart - click to enlarge


4-hour chart with Wave Osc.- click to enlarge




Sunday, 4 August 2013

AUDUSD, almost ready

Hi Traders,

As you see in the monthly the AUDUSD chart is right on target (area 0.8877-0.8770) but hold your horses as it's a dangerous situation.

Normally, 5 red candles down (daily chart) mean imminent reversal but I'not entirely sure that the downtrend is completely over.

After the new low, the 1-hour chart may display a short rally and then again a new short wave down to 0.8860.

ELLIOTT WAVES

The 1-hour chart shows 8 waves out of 9. Anyone who knows my method of counting waves is aware that whenever the wave count is too cryptical I use the "count to nine" which is equivalent to counting 5 waves".

In this case "wave 9" isn't finished yet and it might take the AUDUSD to 0.8860.

The new low will mark the end of wave 3 (1-hour chart) followed by a  retracement upwards which constitutes wave 4 and, finally, by the last wave down (wave 5).

NOTE: if it doesn't get much below 0.8765 it might be the end of the line and a major rebound would start very soon with a possible target to 0.9580.

W.O.

The wave oscillator in the second 4-hour chart (there are two) displays an exit signal (of your short) but the W.O. in the second daily chart (there are two) doesn't.

Depending to the one you're you are using for your trading, you exit (1-hour) or stay (daily) in your short position.

With the Wave Oscillator, the exit signal is given by a "cross back" and a subsequent significant divergence (in terms of distance) between the tips of the red lines.

ie: the entry point is given when the red lines cross, the exit point is given when the red lines both cross back and then diverge significantly. 

See below the wave oscillator's charts (applied daily and 4-hour charts).


monthly chart: click to enlarge


weekly chart: click to enlarge


daily chart: click to enlarge


 wave oscillator applied to the daily chart: click to enlarge



4-hour chart: click to enlarge



wave oscillator applied to the 4-hour chart: click to enlarge



1-hour chart: click to enlarge