peterdcharlebois

peterdcharlebois Updated 

The most common pattern after a large advance or decline is a triangle. In Elliott this shows up in wave 4. There are also a number of triangles showing up withing the very large potential forming triangle (in mauve lines). These are called FRACTAL pattern. If it's the blue path, it will likely be choppy for a while. (5 to 10 days) Then followed by a thrust...

peterdcharlebois

I'm often asked how I keep track of all the rules and guidelines when trying to count with Elliott. Frankly it is a bit of a tedious process. But for me, it help create good stop loss price-points. If I'm wrong... then I know exactly where I am wrong and my stop goes at that line. Having said that... outside of Elliott for a moment, the most important thing to...

peterdcharlebois

It took a while for the EUR/USD pair to complete it's corrective pattern but in the end it played out as expected.

peterdcharlebois Updated 

The EURUSD is firmly pushing against the top trend-line of the triangle. It is unclear if a three wave retracement is still to come before a breakout. And of course a full reversal is not out of the question either. Very important line in the sand here.

peterdcharlebois Updated 

The EURUSD has be consolidating for a very long time... When it breaks it will likely be quite dramatic. Up or down is the question. I see it this way for now... but as always the only true confirmation is the breakout itself. The fact that the bottom line of the triangle continues to be respected keeps my bias to the upside. Oh ya... and it looks like the USD...

peterdcharlebois Updated 

Here is a the potential classic wave 4 formation. This should thrust down out of the triangle and then bottom and reverse if the assessment is correct. In a classic triangle, each subsequent wave should not exceed the path of the previous wave. and the triangle itself should not at anytime exceed the previous wave 5 termination. There are numerous other...

peterdcharlebois

The price action on the EUR/USD this week suggests a possible wave 2 "Triangle". Although more common in the wave 4 position they can form in wave 2 as well. It usually means the price is coiled up quite a bit and thrusts out quite strongly. The break of 1.1050 will be telling. If this does hold true then the chances are wave 4 will be a ZigZag ABC. Time will tell.

peterdcharlebois Updated 

There is a clear H+S pattern forming on the Russell. You can see where I drew one in, from 2011. Notice the carry through following the break of the neck-line. Technical targets for H+S vary. There is a good potential for this top to be significant. Let's see what happens if it breaks the neck-line.

peterdcharlebois Updated 

A potential technical entry point.