Umex looks like it will at least correct up more considering the price action. It swung 7. It could be 50-60% of this small swing down, but possibly break the high.
Gcad showed some price action showing potential reversal for retracement. It did pull back in a small 3 wave rejecting the fib level. But since then has been making a 7 swing wxy that measures out to break trend line and reverse, which is very typical. TDI shows it be in a sell on the 1 and 4hr charts, but daily looks like more room up to me. Just understand you...
Folks, We got blindsided by a surprise bull run Friday 8/24 which seemed so unlikely I was horrified and amazed all at once. In retrospect, some sort of rally was to be expected off the Thursday low prices, and I hedged my bets in case, but this was quite bullish indeed. In spite of making a new high closing price on Sand P, US 30 did not confirm the high...
Chfyen looks like it has incomplete WXY upon WXY. Looking for a larger corrective structure for an "X" wave and then possibly another sell down. This smaller structure trend line should complete this small wxy, but that may break out so keep that in mind. It is coming off the 50% fibonacci fib and it seems like it is making a swing pattern to go down more, but if...
If Cad/Chf hits my box without breaking previous swing high (circled) I will look to buy there.....
Chf/Jpy has intersecting pitchforks lining up exactly with equal length and the .618 retrace. Now.... Daily TDI looks like it may have upside, my buy from bottom still running in case of the leading diagonal scenario (until I see a reversal pattern). But the 1.236 extension level would probably be a good place to catch a wick off of should price break up, and the...
Uchf looks like it made a contracted flat at this point. If it is gonna drop, watch for a possible small flag at the .9900 level/trend line... It seems like we are still gonna finish this correction. I prefer to see those corrections break the high before they drop, but it can be considered completed now. The real entry was at that smaller flag.
Refer to weekly chart I posted to see zoomed out fibs. It rejected the .618 retrace after breaking pitchfork (intersecting trend lines).
GJ measures out to make some sort of 3 wave and then create an ending diagonal. I consider the grey line to be a structural level for the larger pattern. If you see that scenario playing out, you will wind up getting nice buy and sell setups.
NZD/CAD Is at the spot for one more move up the way it is measuring and swinging. Did not exactly get the greatest reversal pattern, but this is the fib area for it to make another shoulder from, potentially creating some sort of flat pattern. I am seeing striking similarities in the NZD pairs as far as their swing structure. Just understand time frames and limit...
I am showing you this illustration to try and point out the bigger picture. A "B" wave is a 3 wave move. So far UJ has completed a 7 swing wxy for a "B" wave can be on the way up long term for a "C" wave (On both time frames). The only question is, will we get an "X" and a "Z" added to the swing pattern? That would mean we get a triple combo (which is rare) if UJ...
I am showing you this illustration to try and point out the bigger picture. A "B" wave is a 3 wave move. So far UJ has completed a 7 swing wxy for a "B" wave can be on the way up long term for a "C" wave (On both time frames). The only question is, will we get an "X" and a "Z" added to the swing pattern? That would mean we get a triple combo (which is rare) if UJ...
I am showing you this illustration to try and point out the bigger picture. A "B" wave is a 3 wave move. So far UJ has completed a 7 swing wxy for a "B" wave can be on the way up long term for a "C" wave (On both time frames). The only question is, will we get an "X" and a "Z" added to the swing pattern? That would mean we get a triple combo (which is rare) if UJ...
UJ's Monthly pattern shows striking similarities to the pattern it just made. I labeled "B" as "B" because it measures and counts out as a 7 swing WXY pattern, which would be a 3 wave pattern. You can see basically the same pattern when you zoom in and look at it now on the weekly....
For real traders.... You have some price levels to get some buys in profit. Hopefully, this weekend I will get some time to cascade some stock indexes next to commodities using time, trend, and retrace fibs.
In a WXY 3-3-3 corrective wave we expect 2 more waves in our chart to complete the formation. Today Dow touched the midline of channel shown in pitchfork, but 0.382 Fibo could be a bottom, but rarely is. In the cup-and-Handle formation we expect a decline to reach ~0.50 Fibo of cup, still a bit shy and looking for prices in the mid- 24800s. We might be in for...
Sand P has been more resilient than Dow and declines less, advances more. Still a short opportunity appearing now in final down leg of corrective wave. I wouldn't hold puts or shorts below 2800- look for a strong bullish reversal into a combo (5)(V)(v) wave to new All-Time High after this correction- starting real soon. See my Dow post too, same idea, but...