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



Sunday, March 30, 2014

Elliott Wave Analysis of Oil (CL/QM)

CL


The decline from the March highs appears to be in 5 waves, currently the bounce appears to be in 3 waves and has met its price projection to $101.50.

I am looking for a strong sign of a reversal, I think offers traders a great setup to sell, we know its wrong above the March 2014 highs.

So the risk is limited.

SCO




Another way to play a potential decline in oil is to buy the ETF SCO, if your account is small then ETFs are a great way to take advantage of the moves on the underlining market.

You can look to buy at the market on Monday, stops need to go at the March 2014 lows.

Remember this ETF moves higher as Oil (CL/QM) moves lower.

Good luck


Saturday, March 22, 2014

Elliott Wave Analysis of DX (aka US$) & EURUSD

Its been a while since i updated the blog, although you can still check out my thoughts on Twitter and Stock Twits.

Or just look right and you can read those twits, i am still active, although i have not really had the desire to write an article, especially about the US markets as there are not doing much these days.

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DX (USD$)

I posted this DX chart on the 13th march 2014 http://stocktwits.com/message/20965942

It appears to have finally broke out to the upside as i wanted to see, the break out was impressive, which came off the back of the FOMC, but whilst the move was strong its still lacking an inertial 5 wave advance, so more upside is needed from the bulls.

Staying above 79.80 supports more upside, so upside from USDCHF should be seen (basically USDCHF and the DX are the same pattern) and downside for EURUSD as that pair is inverted to DX and USDCHF.




So as the DX moves higher we should see EURUSD move lower.

EURUSD

I initially posted the setup we have been following on 2nd March 2014 http://stocktwits.com/message/20545671

Well we got the spike and potential reversal i wanted to see, but like the DX and USDCHF markets, we are working the idea of a possible small 5 wave decline.

Its important for us to see that initial 5 wave move, as until we see that, we cant be sure of a potential trend change.

Staying below 138.50 should see more downside, both the DX and EURUSD are lacking a few gyrations to make an initial 5 wave move.

If we do see the 5 wave pattern as we expect, that will be a great clue to suggest a trend reversal, then we can look to sell corrective rallies on EURUSD, and buy dips on the DX and USDCHF.

The potential for the US$ to rally is HUGE, and IMO is worth following, sentiment is against a US$ rally and that's usually the time the US$ puts in a low when the world is looking for it to crash.




Trade safe