DanV

DanV

For those who are familiar with Dow Theory will most likely be aware of the Dow Transport having broken above its previous high. For those who are not familiar can grasp the basic from the above chart. For example the trend to the upside or downside needs to be confirmed by each other by breaking above or below its respective immediate pivot high and pivot lows,...

DanV

Have you missed out on the YEN pairs rally? Have no fear, you can have similar opportunity in EURAUD. At the moment AUDUSD ir looking weak. In contrast EURUSD is looking strong. So I expect that during the coming weak or 2 will mark this pair's current coiling pattern that resemble Cup & Handle is likely to break to the up side and once the near term overhead...

DanV

As the Equities continue its march higher to important resistance or surpassing its previous high, VIX the fear gauge continue to plunge to lower level noted back in 2007. It is quite Volatile but the general trend is to the down side as it will likely continue to form lower lows and lower highs. Higher Equities normally accompanies weaker Dollar, where most...

DanV

have held a longer term bullish view on EUR since August after major July low. Now as you can see from the chart there is distinct look of potential Head & Should pattern being developed (as well similar patter in other EUR Pairs), MACD is in positive territory and about to hook up. In the shorter term we could expect some weakness from 1.35-136 area before going...

DanV

In my last chart I made a case for Bullish action with at least the 1.31 -1.3150 area and possible retest of the 1.33. Well as you will see we didn't quite get to 1.3150 but did make 1.31, which I said would have to be achieved quickly, as later in Jan and Feb the seasonal is bearish for EUR . Since then the price action has been puzzling. I have reviewed this...

DanV

In my earlier chart of EURUSD suggesting bullish action with 2 possibilities. First is for it to retrace the recent fall in the form of abc zigzag to 1.3150 -1.32 area before continuing down. Second, with possibility of new minor 5 waves that could lead it to retest the recent high a 1.33 area and or make new marginal low for signification top completing 5 waves...

DanV

From my previous intra-day chart on EUR, I was bullish and whilst I did not get the full retest of the high, we got very close, though I think it was difficult to trade unless you entered long the the lower area of the congestion. However, now we have what I believe is abc retracement to the downside, we could have interim bottom and could bounce at least to 1.32...

DanV

Following on from my last chart expressing bullish bias, still appear to be the case though the side way congestion is now looking like potential contracting triangle which suggest still further upside and should be able to reach the expected target in the region of 1.3350 or little higher before more significant retracement likely to take place.

DanV

It looks to me that EURUSD is in progress of wave c down which could be in the form of falling Wedge or ending diagonal that might complete around 1.3140 -1.3130. If 1.3130 being the top of wave 1 earlier hold, then wave 5 will develop which would have EURUSD retesting the last high at 1.33 area or make new high up to 1.3350 . Seasonally (which could fail this...

DanV

Apple Ic - has lost nearly 28% of it value and whilst we accept that its best days are over, based on Elliottewave the recent high appears to be major WAVE 3 (incidentally Elliottwave International might explain that the major change over from Steve Jobs the key individual behind the success story of Apple to present CEO could coincide with Major top wave 3),...

DanV

I don't trade these exotic, though might consider small position on major sell signal when it mature. However, in the intermediate term, I am bullish. The current formation looks like a rising wedge called Leading Diagonal, which if correct should find prices head back the the upper end of the pattern around 9.20 area. Dollar could make partial retracement to the...

DanV

For some time I have been sharing this or similar chart of GOLD with many individuals and pointing out that the recent sharp move up in Gold is not a new Uptrend but rather continuation of correction or congestion following the All Time High. See my earlier chart from Mid November 2012 www.screencast.com Main Reasons for this is (1) we have a triangle at the...

DanV

Having moved of the low @ 1.5820 are in what appears to be 5 minor wave up (completing wave (i) of larger degree), it is in process of abc correction. Only that instead of a zizgzga with lower low, it appears to be forming expanded flat, in which wave "b" goes beyond the origin of wave "a". Many might have interpreted this as possible breakout but it now appear to...

DanV

If you have been following me for last few days I highlighted this short trade. The retracement wend little too deep compared with the one I suggested earlier. However, here it the thing.We have 88.6% Fib retracement to the upside, wave c is x 261.8 fib of wave a and we have hit the median pitchfork line at supply zone after high printed on new event and potential...

DanV

Following on from last week's short trade, it appears that either we have the low at the end of 5 wave decline or will be retested to complete. Base on the RSI appear to suggest that the 5 wave decline is complete by a break in downtrend line corresponding to similar breach in downtrend line in price. Once this low is in place we should expect retracement in the...

DanV

Following on from my earlier chart on short term bearish view, we have topped in rising wedge and have broken down from that. Now it seems we have dropped in falling wedge or possibly leading diagonal, which is being retraced in (a, b, c, zizgzag) at present. On completion we could have low risk shorting opportunity around 1.3080 -1.31 area. Slightly further out...

DanV

In the current cycle of the low from 1.2660, we are in very bullish formation and at inflection point of previous resistance. On the break of that to the upside supported by breakout on the RSI after coiling suggest EURUSD could soon challenge 1.33 -1.34 area. It appears to be in extended 3rd wave of the current cycle

DanV

Counter Trend Trade - Normally carry higher risk. So Keep that in Mind. In my previous short term short idea on EUR did not trigger if minor up trendline was used, otherwise closed at small loss. Having reviewed the price action, it appear that i is now likely to go to 1.31 -1.3150 are where shorting opportunity might develop. Main pond is that there is Fib...