As we can see on the graph above, GBP/USD has been sliding without any major correction. Also looking at the RSI, we can see very clear that this big move has been in one way street. However, buy looking first at the RSI, I added a trend line at 2010 low and 2013 low put a extension to see where it will end and we are touching that line right now (red line). Now...
Since the beginning of the year FED has gradually lowered its purchases of asset backed securities - QE3. Until it ended the stimulus program on 29th of Oct. It is interesting, however, to note that the corrections following the FED announcements has been more and more limited. It should be of no surprise as FED sends several upbeat signals to markets that it is...
Hi again, We're near the end of the week and setups keep forming! This one is also a bullish symmetrical triangle. First by looking at the higher time-frames we did expect a rally in gold to correct the Intermediate Bearish wave that completed. The rally was fast and strong and it is currently resting at a symmetrical triangle for its b wave in order to make...
The pair has started to exhibit a fresh bullish momentum. I think it's likely to get to the light blue median line, possibly retesting the prior swing high level at 1.3842 as well. Or is it just a correction in a correction? Market seems to be in the process of fighting the red bear trend line and if the trend line holds, the correction will continue. The USD is...
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...
Elliott Wave: Despite the rally, we are in corrective mode since 2000. A similar Correction took place in 1965/1982. 17 years. Here it could take 19y in total. The sequence 1995/2000 was a speed excess over the 100Y channel. We are now exactly on this speed line. A natural correction of 4 years could ensue. This correction could be longer than 2000 and 2007...
DAX has corrected 18% down and it is challenging to see it going lower but I still think this is what is going to happen: 1) Normal correction on the DAX are 10/14% within the lower degree correction. 2) Therefore it is not abnormal to see a 25% correction in total when SP500 has to correct 18%. 3) I am awaiting a correction similar to the one we had in...
Note: - Tops a, A and C are aligned in Logarithmic scale - The current top matches the left top of 2000 - Leg C = 161.8% x Leg A (in percentage, 2 times in price) THIS IS MAJOR TOP Ideally: short 4100 Tuesday the 28th of November 2014
QQQ is still in high levels - longer term uptrend is not yet broken. As volatility has picked up recently, this correction might go deeper. This wouldn't surprise me, even if I don't like to short QQQ here.
A fast and huge drop like this was a sign of higher volatility in the past (see 2011). Will this happen again?
IWM is still in correction mode. Is this a pause of the downtrend or the buttom already?
probably rebound for 2-3 weeks and then correction to 1840-1850.
Two scenarios. Back to the downward channel, or a continuation of the correction.
Two scenarios: start correction from end of the ABCD pattern or, if lower trend line downward channel hold, the descent to the level of 1.25 (fibo level) and from there upward correction.
This market has been in a very strong up trend, but has also recently failed to make a new high. Now it's correcting, breaking the bull trend line, likely retracing by 38.2%, 50%, 61.8% or more. We never know for sure how deep the correction is going to be, so it is advisable to wait for the correction to die out, before going long again. The USD is still the...
Hello again, Here I'm taking a look at Apple stocks once again. Nothing unpredicted, As you can see from my previous idea I highlighted a zone using fibonacci relations for the price reversal. Now I has bounced off of that area. We're currently sitting in the A leg of an ABC correction move. If you're a short term trader you can look for shorting...
Price has started to trend outside the fork, which means the trend's become relatively strong. The GBP is weakest currency of all the majors, whereas the AUD is still very strong. The pound's momentum is in a recovery (rising) phase - thus the correction. The AUD's momentum is already at the oversold levels. The correction, if continues higher, is likely to reach...