Attachments: Elliot Wave Analysis

Elliot Wave Analysis

#621
Oct 27, 2018 10:17am Oct 27, 2018 10:17am

stringfx
Joined Nov 2006 | Status: Sting | 1,049 Posts

Hello folks,

Been away for some time. Good to be back again ...

Loads have been happening in the markets.

a) stocks are going down ...
b) USD index is going up....
c) Money is being poured into Gold, yen and bonds (Risk off)

and it looks like this will continue for some time and if it continues for some more months, we will be facing the start of a very bad recession in the future.

Getting back to our favorite pairs...

Eur/Usd.. (1st scenario)

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STING

#622
Oct 27, 2018 10:32am Oct 27, 2018 10:32am

stringfx
Joined Nov 2006 | Status: Sting | 1,049 Posts

There is still a possibility that the correction for wave 2 is not complete on daily TF. It could also be like this chart:

with the ongoing chaos in the stock market, this scenario is unlikely. but still possible. ( the correction for wave 2 was too small just 38%) which is why i am thinking about this scenario. If dollar index breaks the high convincingly then rule out this scenario.

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STING

#623
Oct 27, 2018 11:35am Oct 27, 2018 11:35am

stringfx
Joined Nov 2006 | Status: Sting | 1,049 Posts

with stocks going down, investors are pouring money into gold which is why gold is on the rise. Also festival season in India (big consumer of gold).

Here is a chart.

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STING

#624
Oct 27, 2018 11:41am Oct 27, 2018 11:41am

stringfx
Joined Nov 2006 | Status: Sting | 1,049 Posts

gold 4 hr.

Attached Image (click to enlarge)

STING

#625
Oct 27, 2018 11:53am Oct 27, 2018 11:53am

stringfx
Joined Nov 2006 | Status: Sting | 1,049 Posts

My 2 cents on GBP/JPY

with the stock markets down, xxx/jpy pairs are on the decline and here is a chart of GJ with my humble opinion.

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Name: gj 4hr.png
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STING

#626
Oct 28, 2018 4:30am Oct 28, 2018 4:30am

Sixer
Joined Nov 2008 | Status: Trader | 1,757 Posts

S&P 500:

The Delta count indicates an important low which is confirmed by the Elliott count of wave "c" (blue).

The price pattern is the correction (Running Flat) which started end of jan. 2018.

Sixer

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Name: EW-S&P(60)-26.10.18.png
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Attached Images

#627
Oct 28, 2018 6:41am Oct 28, 2018 6:41am

aariapoor
Joined Jun 2016 | Status: Forexian | 316 Posts

Please share your ideas on WTI Crude Oil too, Thanks

We can't control the sea, but we can learn how to surf the waves.

#628
Oct 28, 2018 9:39am Oct 28, 2018 9:39am

stringfx
Joined Nov 2006 | Status: Sting | 1,049 Posts

Quoting aariapoor

Disliked

Please share your ideas on WTI Crude Oil too, Thanks

Ignored

According to me oil is on a big bear trend.

Here is a 4hr chart... i think wave 1 will be over my Monday morning and a retracement for wave 2 will start. will update as time goes.

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#629
Oct 28, 2018 9:46am Oct 28, 2018 9:46am

stringfx
Joined Nov 2006 | Status: Sting | 1,049 Posts

Here is a chart of oil weekly.

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Name: oil weekly.png
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STING

#630
Oct 28, 2018 11:40am Oct 28, 2018 11:40am

Sixer
Joined Nov 2008 | Status: Trader | 1,757 Posts

This is my Weekly Oil count:

After a 10 years Bull market which started 1998, we are in a 20 years Bear market since 2008 based on the Long Term Commodity cycle.

Sixer

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#631
Oct 28, 2018 11:46am Oct 28, 2018 11:46am

stringfx
Joined Nov 2006 | Status: Sting | 1,049 Posts

Quoting Sixer

Disliked

S&P 500: The Delta count indicates an important low which is confirmed by the Elliott count of wave "c" (blue). The price pattern is the correction (Running Flat) which started end of jan. 2018. Sixer {image} {image} {image} {image}

Ignored

Sixer,
we will wait and see if the delta count will impact the market this time. IF it does, usd will come down and i will load up on gold with all i have in the account coz COT report is heavy on gold buys.

STING

#632
Oct 28, 2018 11:52am Oct 28, 2018 11:52am

stringfx
Joined Nov 2006 | Status: Sting | 1,049 Posts

Quoting Sixer

Disliked

This is my Weekly Oil count: After a 10 years Bull market which started 1998, we are in a 20 years Bear market since 2008 based on the Long Term Commodity cycle. Sixer {image}

Ignored

Sixer,

Great chart .... not too sure if it will go to 13 dollars though

STING

#633
Oct 28, 2018 6:13pm Oct 28, 2018 6:13pm

aariapoor
Joined Jun 2016 | Status: Forexian | 316 Posts

Quoting stringfx

Disliked

{quote} According to me oil is on a big bear trend. Here is a 4hr chart... i think wave 1 will be over my Monday morning and a retracement for wave 2 will start. will update as time goes. {image}

Ignored

I hope so, I have a big sell @ 66.0 and was waiting for breaking the low in this consolidation to close it.
Should consider that on 4th of November is Iran sanction and that can be the trigger for retracement (2)
Thanks

We can't control the sea, but we can learn how to surf the waves.

#634
Oct 30, 2018 5:10am Oct 30, 2018 5:10am

stringfx
Joined Nov 2006 | Status: Sting | 1,049 Posts

Eur/usd short term:

here is a chart for EU short term ..

expecting a target of 1.1230/40 as a 5th wave target for this move.

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Name: eu daily.png
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Name: eu 4hr.png
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Name: eu short term.png
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STING

#635
Oct 30, 2018 5:15am Oct 30, 2018 5:15am

Velol
| Membership Revoked | Joined Oct 2018 | 123 Posts

Quoting aariapoor

Disliked

Please share your ideas on WTI Crude Oil too, Thanks

Ignored

Yes pls for Bitcoin also
Can we make EA for this system? Its hard ?

velolthomas@gmail

#636
Oct 30, 2018 6:47am Oct 30, 2018 6:47am

stringfx
Joined Nov 2006 | Status: Sting | 1,049 Posts

Quoting Velol

Disliked

{quote} Yes pls for Bitcoin also Can we make EA for this system? Its hard ?

Ignored

Never heard of an EA for EW and also i am sorry that i am not into btc or any other coins . just forex and commodities.

STING

#637
Oct 31, 2018 12:29am Oct 31, 2018 12:29am

stringfx
Joined Nov 2006 | Status: Sting | 1,049 Posts

The stock market seems a bit wobbly .Seems like a make or break time. According to me, seems like it's going to break down pretty hard. If SNP and dow crashes, then XXX/JPY pairs are in for a dive as well. The fastest will be GBP/JPY. look out for the stock market to fall this week and i will be selling a big load of eur/jpy,gbp/jpy and also usd/jpy.

Here is a chart for dow:

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