Monk

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Markets Allocation
67 % forex 16 % indices 8 % commodities 9 % other
Top Mentioned Symbols
GBPUSD 24% | 18 USDJPY 18% | 14 DXY 12% | 9 EURUSD 9% | 7
Monk Monk AORD, M, Short ,
AORD: AORD ASX
36 0 2
AORD, M Short
AORD ASX

Not sure if the current C wave (if this is actually a larger B wave of a zig zag) has finished and we already have an impulsive structure down...

Monk Monk ABX, M, Long ,
ABX: ABX, GDX, Gold long
118 0 4
ABX, M Long
ABX, GDX, Gold long

Regardless of EW count, the new leg up looks impulsive thus far so looking to go long... just need to work out when this (assumed) correction (b wave?) has finished.

Monk Monk DXY, W,
DXY: DXY consolidation
56 0 6
DXY, W
DXY consolidation

This fits with the idea that gold and gold stocks, as well as USD$ currency crosses have another up/retracement before a new leg down.

Monk Monk FXB, M, Long ,
FXB: GBPUSD long
39 0 0
FXB, M Long
GBPUSD long

Look at volume on the GBP... would there have been a large spike if this was the start of a new trend down? Interesting...

Monk Monk GBPUSD, M, Long ,
GBPUSD: GBPUSD Long
269 1 2
GBPUSD, M Long
GBPUSD Long

GBPUSD long. 1.6 would be a good long area. I would like to say low risk with a tight stop, but there could be a spike down to knock you out before it goes up again. The lines drawn relate to clones so the move from jan 09 to jun 09 is cloned again now with two equal legs again (the 2nd leg forming v shortly back up to 1.84 ish. Unusual for a deep wave 4, but the ...

Monk Monk USDJPY, W, Long ,
USDJPY: USDJPY possible triangle pattern
152 1 3
USDJPY, W Long
USDJPY possible triangle pattern

As per request in comment to my last chart.

Monk Monk USDJPY, D,
USDJPY: USDJPY Triangle?
173 1 3
USDJPY, D
USDJPY Triangle?

EW theory - one more touch of the bottom trendline and then higher possibly. I'll try a long if price gets there.

Monk Monk USDJPY, W, Long ,
USDJPY: USDJPY
63 0 1
USDJPY, W Long
USDJPY

On the weekly, 'stochastics k' is holding and looks to be bouncing upwards. See orange highlighted circle.

Monk Monk USDJPY, D, Long ,
USDJPY: USDJPY
83 0 1
USDJPY, D Long
USDJPY

What I've noticed in the past is that at each top in a potential triangle stochastics is OB... now stochastics has given a buy signal on the daily at the trendline for the potential triangle... nothing certain but odds here are bullish imho.

Monk Monk USDJPY, 240, Long ,
USDJPY: USDJPY
327 5 1
USDJPY, 240 Long
USDJPY

Thoughts on the pic...

Monk Monk DXY, W, Long ,
DXY: DXY USD
192 1 0
DXY, W Long
DXY USD

OK so here's my take. Short term long Medium term short Long term long (pink arrow) - coincides with a deflation threat. Longer term short - coincides with painful inflation, which to be honest is already happening, especially with food prices here in NZ! Target wise, don't know for any of these move but the direction is what i'm thinking.

Monk Monk GBPUSD, M, Long ,
GBPUSD: GBPUSD
242 4 1
GBPUSD, M Long
GBPUSD

Longer term we somehow get to one or both of these arrows :/ solely based on simple fib analysis. In the shorter term... dunno!

Monk Monk USDJPY, D, Long ,
USDJPY: USDJPY
236 0 0
USDJPY, D Long
USDJPY

This count is pretty critical to my thinking we are still in w4 of w5... the 3rd wave is still a fib extension of the 1st wave at 3.618.

Monk Monk GC1!, M,
GC1!: GOLD GC! GLD
342 1 3
GC1!, M
GOLD GC! GLD

A new view on gold... problem is where this last 'c' will end... so... abc (A) then abc (B), now ab...c

Monk Monk USDJPY, 240, Long ,
USDJPY: USDJPY 4h
137 2 0
USDJPY, 240 Long
USDJPY 4h

50% fib seems to be holding on 4h... for now. Lots of interpretations for on how this could go - price action is confusing but on lower time frames than this, seems to be impulsing up. The longer term charts are clearer to me which is where my analysis is based on... I am most likely incorrect with timing this long as w4s are so soooooooo soooooooooooo tricky, but ...

Monk Monk USDJPY, D, Long ,
USDJPY: USDJPY daily
165 0 1
USDJPY, D Long
USDJPY daily

Following on from the weekly analysis, you can see my thinking here... my question is will the next move be w5 or will we still be stuck in a w4 of w5 triangle consolidation, ie. we are now in the D wave.

Monk Monk USDJPY, W, Long ,
USDJPY: USDJPY
99 0 0
USDJPY, W Long
USDJPY

I'm not sure what larger degree we are in - some say the rise is over, but I disagree. I still think there is more upside as the larger degree is either still 3 or 5. I'm going on we are in a wave 4 of larger 5 so there is one more up to come. Price action in the orange circle shows what im thinking is a quick abc w2 retracement, so we are now in a larger complex ...

Monk Monk DXY, M,
DXY: DXY
25 0 0
DXY, M
DXY

What happens after the end of the triangle?! DXY should have lower to go and then stage a strong rally to the top triangle resistance line, after which it will fall - but will it continue to fall or bounce back after that...? Food for thought...

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