Following my last short call on S&P500 because of the ending diagonal, I am now calling for a 2nd short, this time also with a strong magnitude. Below is the daily chart: One thing to note here: the recent retracement 1) ended near to the previous down wave 4, and 2) the retracement is near 68.2% Fibonacci Retracement Level. The first target that I set is for...
Let me put up the supercycle wave counts for Crude Oil. From here, you can see that Crude Oil has already completed it's 3rd wave and is nearing the end of an expanded correction. What this means is that the time to go long Crude Oil is nearing. Note that Crude Oil doesn't have to stop exactly at $58.09 (end of wave 4 of 3) but it definitely have to end above...
Below I will show you the updated view of Gold on a Supercycle level. As you will see, what we have is a down move from Sep 2011 to Dec 2015 that is labeled as 1-2-3-4-5. Then we have a corrective triangle (a-b-c-d-e). The move recent down move is labeled as 1-2-3-4-5 before the recent up move classified as W-X-Y. Some of you may be wondering about the...
Short. There are some fibonacci studies here but I removed them because it will be too messy. Big picture.
Following my previous analysis on how AAPL price will move, I am now providing an important update. Given that AAPL has just announced very good earnings and pre-market prices are above $198, I see that it is a good opportunity to short this counter. Maybe not direct shorting of the stocks, but definitely buying some Put options to hedge your position will be an...
The Big Picture The Wave Structure The Wave Structure that I am presenting here starts on 2001-07-06, exactly 17 years ago, at the high price of $121.02. It was a 5 waves down followed by a 3 waves corrective structure. After which, we have a 5 waves down followed by a W-X-Y. I want to talk about the last wave structure which I labelled W-X-Y. It is not an...
The Big Picture The Wave Structure As you can see, from the left, we have the super cycle impulse 1-2-3-4-5. Then we have a double combination for the corrective wave W-X-Y (in black) consisting of 1. Zig-Zag (pink) 2. X 3. Ending Diagonal (red) The entire picture is itself a descending triangle. In traditional technical analysis, it is actually a bearish...
Expecting one more wave up before a strong down move.
This was my recent projection for SGDJPY: I had thought that it could go to 83. However, I would like to change my idea now and I'll tell you why. Firstly, the new Big Picture (4 hourly): I think I may need to explain why I count my waves this way. So let's start from the first corrective up wave W-X-Y in green. Previously I had labelled it as 1-2-3-4-5,...
As always, the big picture first. Also, I have to admit that my previous call for a short was pre-mature. I had expected only a 3 waves up but USDSGD did a 5 waves but that is over. We can see that there is a clear 5 waves and a reversal. Now, can we expect USDSGD to reverse up from this recent strong move down? It doesn't seem so and I will give you 2...
Firstly, the big picture. Now, as you can see, I believe that EURUSD is having a strong compounded wave 3. Thus, it will be good to go long. You may want to use a smaller size to withstand potential volatility. But, the potential is great here. Good luck!
Firstly, the big picture. Now, I believe that VALE has become a long again. But maybe there is a need to split the entry. I can't be sure if there will be a healthy correction for a good entry and thus my suggestion is to enter 1/2 the intended size and if VALE falls, enter the 2nd half; if it burst up strongly, enter on breakout. Good luck!
I believe that Copper has completed it's corrective Flat formation and am now calling long for this base metal. If you don't trade futures, you can use CPER. They look the same on the chart.
I was looking at HG1! (Copper Futures) and that since I called the high of Copper, it has moved sideways into a clear 3-3 correction wave. The current move down could then be taken as a clear impulse which I will term the "5" in a Flat formation. I did not expect that price will move below the support but I do expect that price will move up from here. Take it...