Aussie is starting 3rd Wave down.
Invalidation Point - 8960
Invalidation Point - 8960
Elliott Wave Trading by Ayax 2,102 replies
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elliott wave trading channel 22 replies
Group Trading based on Elliott wave and Harmonics 0 replies
Elliotters..Elliott Wave Trading 9 replies
http://www.thetradingsolutions.com/w...110silver1.bmp
The main image is of the weekly chart of Silver to present our current broader perspective of the market. With a completed wave (1) or (a) at the March 3, 2008 high (21.31), we seem to be in a long correction of this wave (1) or (a) since then. With a possible 5 wave decline to the October 31, ’08 low (8.45), completing wave A of (2) or (b); followed by a three wave rally to the December 4, ’09 high (19.46) completing wave B of (2) or (b), we are now expecting another five wave sell off to complete wave C and, thereby, the ABC of wave (2) or (b). The likely target for this wave C is somewhere below the 8.45 low of October 31, ’08.http://www.thetradingsolutions.com/w...010silver2.bmp
The second image highlights the recent moves in Silver as seen in the Daily chart. We have marked the December 2, ’09 high (19.42) as the completion of wave B, from where we are expecting a five wave move down for wave C of (2) or (b), as shown in the broader perspective given in the weekly chart. With good support at the 15.90 area, we expect a pull back to start in the coming days to complete sub-wave iv, which would likely be followed by another sell off close to the 15.10 level.DislikedIf my count is correct, this should be the stopping point for wave 1 down. I can count 5 waves in the final push down on a 15 minute chart. I'm looking for a 5 wave count up on the 5 and 15 minute charts to help confirm the reversal. Once I see that, I'll wait for wave 2 down and I'll go long with a stop-loss just under wave 1.Ignored
Dislikedhi bottle, where did you get the us dollar index on your Mt4? which broker you use?Ignored
Dislikedhi bottle, where did you get the us dollar index on your Mt4? which broker you use?Ignored