Elliott Wave Training

Are you looking to learn the Elliott Wave principle? Or maybe you already have some experience and want to find the ways to improve your skills better.

Click on this post for details:

http://wavepatterntraders.blogspot.com/2012/04/elliott-wave-training.html



Saturday, September 28, 2013

Elliott Wave Analysis of QQQ

The recent price action we have seen over the past few days suggests it could be a triangle

Observant traders will have noticed the NDX and R2K have been the strongest, whilst the DOW and the SPX have been the weakness markets.

I suspect we still need a "thrust for this idea, (basically the same as the NQ/NDX) for wave [v], that would complex a 5 wave advance from the lows made in Aug 2013.

Once a 5 wave move is in place we should see it setup for a reversal, as Elliott Wave suggests once a 5 wave move is complete a correction at least will be seen.

Ideally we see a RSI divergence as well if we see a new price high.


Elliott Wave Analysis of XJO/ASX "The Case for a Major Peak"

Weekly


The decline from 2007 into the 2009 lows appears to be complex decline so I am labeling it as a large [W] wave; I am not comfortable labeling it as a 5 wave decline. Currently it’s in wave [X], so we ideally see a simple ABC bounce.  As we take a closer look it also looks like its ending wave C of that bounce as both waves A and C have a “5 wave look”.

We currently have a large divergence which is what we would expect to see on a 5th wave, and it’s still under the equality target where wave C = A. So whilst we could label it as waves 1 and 2 of a bull market (where we have labels waves A & B) the fact that we are seeing momentum loss and we can also count 5 waves for wave C of [X], suggests this is part of a large ABC from the March 2009 lows.

Regardless of the time frame, a 3 wave bounce (suspected at this stage) is still a 3 wave move. So by definition it’s a counter trend bounce against the decline from 2007-2009.

We have sentiment that is bullish, I am reasonably sure not many traders or investors think this market can reverse, but many traders thought that at the last peak. Incidentally the same sort of sentiment was seen back then at the May 2013 high, before it crashed 600 points. I was bearish at the May 2013 highs as well just before it topped. As shown in this chart just before the May 2013 top. 

I would say it has followed the script nicely.

 
I am expecting a far stronger reversal than 600 points.

This is just a sample of the report

To view the rest please click on the link, its a free PDF

http://www.wavepatterntraders.com/ElliottNewsletter/The%20Case%20for%20a%20Major%20Peak.pdf

Sunday, September 15, 2013

Gold Stocks Report: GG, ABX, NEM, BVN, KGC, GFI, GOLD, HUI

Do you want to know where Gold stocks are likely going to go next?

Sick and tired of getting burnt?

Are your frustrated with not knowing where the market is going?

Are you a long term investor that needs some guidance?

Then the Gold Stocks report is just for you.

Its a simple PDF report that will be mailed to your email box once i receive confirmation of your purchase.

It clearly explains where i think the mentioned Gold stocks are likely to be going over the coming months/years.

This is your road map for the future.

I will be also be updating the report in 3-6 months, so you will get the next report at a reduced rate, simply email me the receipt of your purchase.

With Gold stocks suffering for 2 years, understanding the next likely direction, could  save you $1000s on your portfolio as well as make you $1000s.

Knowing when to buy and when to sell is the key to success.

Stocks included are: Gold Corp (GG), Barrick Gold (ABX), Newmont Mining (NEM),

Compania De Minas Buenaventu (BVN), Kinross Corp (KGC), Gold Fields (GFI), Randgold (GOLD) and analysis of the $HUI.

I have also added additional analysis of $SSRI $XAU, GDX and  Harmony Gold (HMY)

I usually charge $25 for a detailed report for any stock or market but i have combined a number of regularly followed Gold stocks to offer Gold stock investors a report that i think all investors should be reading.

To order, click the "buy it now" Gold stock report link to the right, once i receive payment, i will send your report within 24hrs.

It may just be the best $20 you ever spend.

Considering the "experts" have been horribly wrong on Gold stocks, why not try someone who "nailed the HUI high back in Sept 2011.

To prove I nailed the high here is the chart i posted to members on 09 Sept 2011

Before:


After:



NB: Labels withheld, they are included in the report.

I recommend to members get long DUST.

Is the high in?? or do we need one more high, the trade is use options or buy DUST like i am planing on doing, going to be a great move, if that long term chart i showed a few days back works out.

A few members sold all their Gold stocks on my recommendation (after much persuasion), as well as getting long Dust, they came away with smiling faces. The best $20 they ever spent (that's the price of membership per month for US stocks Gold stocks are included in that package).

The rest is history.

Members if you are reading this, you can send me an e-mail i will forward the report at no charge, the report is free to members of Wavepatterntraders.com
 
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Here is a bonus chart that is included in the report, the rest of the report is similar.


Gold Fields (GFI)

Monthly Chart



This appears to be in wave C of a larger [B] wave, currently it also appears to be in wave 5 of wave [3].

So a new low should finish wave [3], then set up a move higher in wave [4] towards $7.00 before a new low for wave [5] of the larger wave C and end a 3 wave decline for an even larger wave [B], then set the stage for a multi-year rally over the coming years.



Monday, September 9, 2013

Elliott Wave Analysis of DAX

I posted an idea a few weeks back on Stock Twits, see here: http://stocktwits.com/message/15396043

We we did see a bit higher, but the resultant dump thereafter suggests that the triangle "thrust" is over and its was a much shorter move than i expected.

I initially thought we would see above 8600, as i had remained bullish for sometime looking for that new yearly high.

Alas it appears that its a truncation.

So off the highs we have seen a strong impulsive dump, i can count a 5 wave decline from 8450, currently we appear to be chopping higher in a very corrective advance.

So unless something amazing happens and it can rally above 8450 I strongly suspect we will see much much lower prices.

So the trade setup is to sell a move above 8300 and build shorts, stops at 8450.

Nothing hard, it either works or it don't, if the US markets, aka the SPX/ES fails around the 1670SPX area and we see an aggressive move lower, we should see the DAX follow.


If it fails to get above 8300, then traders can look to follow it lower and get short under 8175, although bear in mind it might still morph and  a "sneak attack" back to 8300 can be seen.

The only safe stop at the moment is at 8450.

Although that maybe too large for some, but the next expected downside target is well under 7500.

This is NOT a day trade, its geared for swing traders. i personally don't day trade, the setups i find are for members/traders that have limited time and only want to leave a trade running for a few days/weeks.

Most people are not suited for day trading IMO.

Edit - I actually traded this idea, and sadly (well for my account) got run over, the strength was impressive , but things do go wrong and that's why we have stops.