While I don't see a good entry point for Gold, I think that it still has a wonderful upside potential of $78. This is in-line with my analysis on Yen where I am saying that Yen will strengthen. If you are skillful enough, you can navigate this and capture the rest of the $78.
I do not usually recommend a short when a product has reached a support zone. However, from my analysis, I would say that the direction for USDJPY is still down (meaning strengthening Yen). Here I will give you the reasons: 1. From Elliott Wave studies, a weak wave 3 combined with an ending diagonal wave 5 is not a common occurrence. I am led to believe that this...
Hang Seng is probably going to go down for a wave 2 of 3. However, I don't see any good entry points for an outright trade. Thus, selling of a small number of call options (relative to your account size) is probably a better idea if you have to take a trade. The recommendation is to stay neutral and wait for better entry point though.
TW has been doing a strong run for some time now. However, recent high seems to be potential high for this index based on the equidistant guideline in Elliott Waves Theory. Using Fibonacci time counting, we can see that in 2 weeks' time, we may have an important turning point. Even though I may already have identify the potential high, I think that it is...
5 waves down and it seems like the risk-reward justify longing.
Firstly, the big picture: It is my belief that S&P has already finished it's major wave up and the recent up-wave is just a complex correction. If you had followed my previous idea on the same instrument, you will probably make money on the way up but had to cut loss when the wave extends into a complex correction. I don't know what is your net results, but...
I believe right now ES will move up in a 3-waves before coming down and reach the low near 2776. So this is really a LONG then Short call.
I am proposing to short HSI given that the risk is small right now and that price has stalled for the last 3 days at the price wave 1 end area. The risk to reward is good now.
In my previous post on S&P, I mentioned to prepare shorting S&P and gave 2 potential price reversal targets. Now I am calling for the actual short as price has reversed yesterday the 2nd price target. I will give you additional confidence with 2 candlestick formation on 2 different timeframe: 1. On the weekly time frame, we have a shooting star: 2. On the...
Here's the updated counts for S&P on a Supercycle level: The last top was a Supercycle wave 3 and the recent down-move is a wave 4. That is not surprising given that we have such an extended wave 3 and Supercycle wave 2 was really short and weak. This price target that I have given is based on Fibonacci extension on a Supercycle, and intermediate level and...
EURUSD Short: Wait for pull back to short
An overview of Copper's Primary counts: I am expecting Copper to continue moving in a corrective manner up to complete an ending diagonal before another crash. Something I found interesting: 1. Wave 5 (red) looks similar to Wave A (purple), and 2. Wave 4 (red) looks similar to Wave B (purple). Fruits for thoughts.
EURUSD has an interesting wave count: The latest move has an overlapping wave 4 (against wave 1). Usually, that will invalidate the count, except that Elliott wave does cater for one such exception: leading diagonal (5-3-5-3-5). What this means is that for my count, I will ignore the possibility that the last move down (identified as leading diagonal) as a "Y"...