Bosphorus_Capital

Bosphorus_Capital

All on the chart...

Bosphorus_Capital

Below 1131 before above 1307

Bosphorus_Capital

In the linked post we sold MCD between 95 to 98 and were looking for a decline to 83 at the weekly trendline. MCD fell to 87.6 and then recovered. Now I believe it presents another selling opportunity. The move between 97 to 87 looks impulsive and the move up looks like the first leg of a three wave correction. Between 93.5 to 97.4 presents a good selling range...

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The move up from 1130 to 1230 is clearly corrective. There are two options. a) This was Wave A of the correction : In this case we are looking for a flat wave B to end in the 1150/1140 range b)This was the entire correction: In this case we are looking for a new low between 1131 and 1089

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We are counting a 3/3/5 regular flat structure. The b wave has retraced more than 81% so it's quite regular. The c wave should to a minimum retrace 38% and most probably will at least retrace 61.8% to 100% of B. Depending on the wave structure of B there's also a very distinct chance that this is going to end up as a triangle. Since wave A and wave B are very...

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BTCUSD seems to be carving out a 3/3/5 flat correction. It seems we are in leg C of (B). The triangle in wave B gives away that this is only going to be a three wave affair downwards, which means the correction will most probably finish with a 5 up around 380/410 area and end up being a 3/3/5 flat. Of course it can also turn out to be a 3/3/3 correction too...

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Nice 5 waves down. Nice clean break of 3 year trendline. Nice pullback. Nice retest of pullback area. A close below 95.50 is also going to be a very bearish daily candle. MCD is a perfect sell setup for a measured move target of 83.

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I had high hopes on the BTCUSD bounce but unfortunately the upwards move from 278 looks corrective, while the move down from 417 looks impulsive. Obviously this wave up cannot go too far up. 333 should give way before 417 does according to EW theory. Bounces towards 417 should be sold to build positions. I have two scenarios here according to wave structure....

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Buy USDTRY at 2.2250 risking 2.2150, targeting 2.31

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It seems like the downtrend is back in NZDUSD. It should resume soon after the B/II correction is over.

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In my previous post linked below, I had indicated that the first major bounce would probably come from 278 which is exactly what happened. Now let's follow up. The June-October Decline ( intermediate A) seems like an impulsive one wave affair but I do not subscribe to the 'WXY flat correction since 2013 is complete' view because X is too shallow. X Should at...

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Having successfully called the top at 89, here's an EW update on the GPRO correction. The wave structure suggests a wave (4) pullback to 77.5, whereafter a final push should take the issue to 66 with wave (5).

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Silver shorts can be initiated here and scaled into towards 18.80 for a decline to 15.8/14.5 Shorts can be also hedged by gold longs until gold reverses from 1270/1320 area (see Sell Silver, Buy Gold Pair Trade) A pullback for Primary (4) can be expected thereafter to 17/18 area. The final target for Silver seems to be somewhere between 12.4 to 10.3

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The current upwards correction in gold (see linked view below) I think can be pair-traded by buying gold and selling silver to hedge. Gold/Silver ratio is moving very nicely and impulsively up towards A=C target of 79 which implies a silver price of 15.7 vs. current gold price of 1239. Silver seems at least 10% rich now. If gold does indeed go to 900 after...

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DXY primary III has stalled and started consolidating at the weekly trendline. Further pullback towards 84.5 area can be expected to finish off primary IV Then an upswing towards 87 area is expected after which a longer consolidation for Cycle 4 should come into play.

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5 waves in GPRO now seems complete. The issue closed the day negative on a 2.5% up NASDAQ day. There are 4 bearish candlestick formations (Evening Star, Hanging Man, Dragonfly, Shooting Star) The primary 3 high was a volume spike and made the new high on declining volume. Looks quite bearish. We can technically confirm when 79.13 is taken out which is the...

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It looks like the USD correction has started. H&S target for USDTRY is 2.2222

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The June to August decline in Dax seems impulsive while the september rally seems corrective. A conservative equal legs target for Dax is at 8762. If this ends up a 1/3 rather than an A/C, we would be seeing much deeper targets than 8762. The wave structure will tell us that in time...