{quote} That's true. Probably similar to the bearish engulfing before that got engulfed back by a bullish bar.
EURUSD Weekly - Soon to set off a solid trend: My prediction is that we are in the very late stage...
S&P Index (ES) -- Weekly & Daily chart analyses.
GOLD XAU/USD -- Weekly and monthly analyses There's been plenty of calls that gold has made a bottom and the trend has resumed to the upside. I find some missing pieces in the long term picture for this to be the case. While it remains to see over the next few weeks, I think we are heading sidewise and lower for the rest of the year. The gold bulls has been soaring again, too many, too fast. Technically, in my opinion, we do not have a good reversal pattern to call for a bottom. It allways takes time to turn a large ship 180 degrees. With a 12 year...
{quote} Update on EURUSD - potential ending diagonal. Refer to my first post for complete review: #post7386920 Short term I see 2 scenarios for the EurUsd this coming week, but with the same endresult. Option 1 is a wave b pullback. The other option is a decline to a brief new low as seen on the chart. Either ways, it should make no harm for the long term picture and wave structures. 4Hour {image} Weekly: {image}
{quote} UPDATE on GOLD XAU/USD -- Weekly and monthly analyses Refer to my first post for complete review: #post7386922 Gold is near unchanged from last week and I maintain my view that we are in either a 4th wave triangle or start of a new downleg to eventually fresh lows. Price has had 2 attempts to reach higher but has been capped by the weekly 200EMA. For this to be a sustainable upmove and trendchange, price needs to establish and clearly maintain above the 1400+ level....
{quote} Update on the S&P Index (ES) -- Weekly & Daily chart analyses. Refer to my first post for complete review: #post7386923 The S&P500 (ES) now stands right above solid daily and weekly support at around the 1800 level We are now close to two equal legs down in a possible simple, but sharp A-B-C. Friday's price action hints of a pullback as well as clear divergence on the 1hour and smaller timeframes. This is not exactly indicative of a 3rd wave selloff. If it is a...
EURUSD Weekly - Soon to set off a solid trend: My prediction is that we are in the very late stage of this long lasting flag pattern that started in July 2012. It's now been 88 weeks and lately price seem to go nowhere as it has become more and more choppy in a tighter and tigther trading range. I, (like many others) have been scratching heads about the recent months price action but I think there is a good reason for this choppiness as explained below and on the chart. We are now at the same price level as we were in October and Desember through...
{quote} New week, new possibillities. As presumed, the S&P (ES) advanced a pretty 60 pts of it's low last Monday. Now it remains to see how it will develop higher or if we'll get another C-wave downleg for a new low. The current structure do call for new heights in the horison. If the count on my weekly chart is correct this should be a 5th wave whereafter we should see a bigger correction lasting at least a few months. Divergence is building both on weekly and daily charts. Last weeks Daily chart: {image} Current chart: {image} WEEKLY: {image}
{quote} No big changes for the EURUSD. Looks very weak and undecisive atm. I maintain my view that price will pierce the 1.40 level and turn down hard in a potential ending diagonal. Daily chart with possible outcome for the next couple weeks: {image} Big picture Weekly chart: {image}
{quote} The current structure do call for new heights in the horison. If the count on my weekly chart is correct this should be a 5th wave whereafter we should see a bigger correction lasting at least a few months. {image}
