The linear chart has interesting crossing channel.
Now that SP500 has officially marked a wave 5 since oct11, it could be due for a big wave IV since Mar09.
This big wave IV could start before year end or be delayed into early 2015 from around 2100 if the santa claus rally happens (which i don t believe in right now against odds).
The big wave IV should correct...
I see us close to finishing a B wave (which looks like it was a double zig zag) from a larger ABC zig zag up to reach the top of a even larger Wedge.
Here are my ideas of where I see us on a larger timeframe:
If A=C, we could have a possible high of around 460/470, but I would rather wait to see how the waves (within this C) reveal themselves to get a more...
An update to the Elliot Wave count I have posted previously. As long as the previous low for wave ii-(1)-3 at around 390 holds then this count looks good.
Detailed price commentary including indicators to follow this weekend on my website, hopefully.
Tesla, aka the "stock of 2014" looks like its wild drive might be coming to a temporary end.
As much as I love this company, I see us at a temporary top, and I am looking for a shorting opportunity in the 265-275 zone.
Wave properties since March suggest we are in a corrective ABC flat, and are close to the B "top". Other indicators such as RSI and declining...
Price has been trading steadily within a long term bullish Uptrend Channel, since Jan 2011 up till today (24 July 2014)
Price has recently trace from High of around $81.00 (26 Nov 2013) and found support along the Uptrend Channel Line.
We also note a minor double bottom (31 Jan 204 - 16 May 2014) within the Channel. This indicates a reversal of the bearish...
Trading is like riding waves. It's like the market is an organism. Every action will create a reaction which is by itself a action for the next reaction.
What does this mean to this chart?
First wave: Someone bought the bitcoin price up (action). Someone follow that trend to earn some profit and also buy (reaction). It's starts to scalable. And more reactions...
Waiting for wave 4 to develop and after that I will open long position for wave 5.
Buy at 1.0880-1.0890 area
Stop Loss 1.0850 (wave 4 trade invalidation)
Target 1.1000
On Daily basis, we have "Head and Shoulders" pattern, Remembered line at 1.8000. So we can establish short position on a break out of this area and get on wave 4 (from the related idea).
Sell at 1.8000
Stop Loss at 1.8400 (above previous high)
Take Profit at 1.7500
Well, I don't know if we are in a wave 5 period. But there are some element and we shouldn't disregard the possibility. If that is the case, the target would be 1.4018 before ECB make an intervention eventually....
Look at this picture, euro is in the stage of wave 5. in the present situation, wave 5 is more likely to be ending triangle.It has formed dot 1 and dot 2. Dot 3 is forming now. In consideration of daily transaction intensive area 1.4050-1.4100, I deem dot 3 probably in this area. Link dot 1 and dot 3, we will find dot 5.
I think CPI of EU has fall to the...
Japanese government has carried out QE for nearly two years. QE should have brought trade surplus. But that would still leave a trade deficit. It is known that Japanese is export-dependent economy. BOJ do not carry out more QE recently.
In my analysis, JPY is in the stage of wave 4, specifically wave b of wave 4. 102.50-102.70 is a daily resistance level....
