05/02 - 2014 UPDATE
This is an update for my previous usdcad idea
but this is not a long usdcad idea, but more of a short (FX) commodities idea
(look below for more charts).
I wrote in my previous usdcad idea "Alt. view would be that this 5 waves advance is wave A
in a 3 legged C wave." and it looks like this is turning out to be the case.
We reached the min...
Our original analysis stated in part:
"Taken by itself, the technical pattern on the chart is a classic bottom with a follow through support at the first real pullback. Many unexpected huge moves have resulted from this pattern over the years. A factor in NOK's favor on the long side is the price action at the LT Swing Long entry range. It has been very...
HEY WE'RE GOING TO 1.40 LIKE IT OR NOT.
April 14
Sorry about my cluttered charts.
Here is a simple chart for more simple traders.
Really I am a simple trader. Why make it complicated?
I knew what that line was for.
I just use Higher Highs Lower Lows
& trend lines that reveal support and resistance zone.
May 15 breaks low through support trend lines
My last idea suggested that a reversal maybe on the cards
But the decline from the 1.3960 high was very corrective in nature
and now it looks like we should see another move towards
the 1.40-1.44 area before a reversal.
At the time being I will look to buy dips in this pair
as we stay above 1.3660:s.
Look below for more charts.
Follow all my demo trades at...
28/04 IMPORTANT UPDATE
This is an update for my previous idea
We are now correting the 5 wave adavance from the 90.60 low.
The correction could have ended at 92.30 (todays low),
but it could go lower towards 91.70 before more upside.
It also looks like an inverted head and shoulders is in the work.
As 90.60 low holds look for a rally above the 100 figure in...
UPDATE:
I shared this count last night via twitter
but was to tired to post an idea here.
twitter.com
The market has completed 3 waves to the downside,
where the first wave was a complex triple correction,
the second a zigzag as well as the third.
As 10.35, and more importantly 10.20, holds,
I will expect new highs well above 11.40.
You can follow all my...
The CD leg of the shark pattern has reached the 1.61 retracement of the BC leg. I'm waiting for confirmation of reversal before entering short somewhere between here (~1.389) and 1.40.
If the reversal happens sooner rather than later, there is also the possibility of a Gartley pattern presenting an opportunity for a long position somewhere around the 1.3527 support level.
The Dollar Index (DXY), having made a false break to the to topside at the end of last week, has reversed aggressively and is now back below the 200 WMA (79.73) and appears set to test the recent low at 79.26. There is decent support there and again at 79.00-10. However a break of this would head quickly to 78.85 and then to the double bottom at 78.60, below which...
For me all of the signs are pointing to a bounce after the battering the USD has taken this week having tested the late November support line.
A mixture of the University of Michigan confidence print at 13:55 (gmt) and people closing their short positions before the end of the day could prove to kick off the bounce.
Friends,
At this point, markets seem to have leveled off. In fact, USD started to rally, as it gains strength against most other currencies, except against the EURUSD, whose high of 1.38981 has remained unchallenged even after US markets closed.
A look at a reverse correlated USDCHF, my predictive analysis and forecasting system remains neutral for the time...
The market has moved lower after putting in an bearish engulfing
on the daily as my previous idea suggested.
I still like the idea that gold has completed a flat at 1391
and is now moving towards new lows below 1180.
I have two views that I would like to share.
1. BLUE - We are in the 2th leg of wave 3
which is taking the shape of an complex zigzag...
