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



Showing posts with label USDCHF. Show all posts
Showing posts with label USDCHF. Show all posts

Sunday, October 14, 2012

Elliott Wave Analysis of USDCHF

Currently based on the gyrations in the DX and EURUSD markets, i suspect we are still involved inside a 4th wave.

There is 2 ways you can count the move, but its a moot point as to which idea is correct as both ideas suggest more downside, the advance appears to be a 3 wave move and ended with a small truncation as the EURUSD made a new low at the same point

So if a bounce is seen early next week and fails to capture 0.9417 then traders should look to sell this pair, i also suspect that the US$ will be heading lower (the DX and USDCHF are essentially trading together)

As well as seeing EURUSD and GBPUSD head higher as shown in the charts, they are all interlinked with each other


DX and  USDCHF are opposite GBPUSD and EURUSD

Saturday, June 16, 2012

Intermarket Analysis







Just before the turn, i mentioned to members that with a 5 wave move seen in virtually all the DX crosses (USDCAD, GBPUSD,EURUSD and USDCHF) a strong reversal was setting up

You could see a 5 wave move from the May 1st period, there was way too much bearishness around at the time on EURUSD and GBPUSD, and that needed to be eradicated


Well fast forward we are getting those bounces as predicated from the Elliott Wave pattern


The Bearishness has worn off, the Bears are coming out of hiding on the US$ (surprise surprise)


Yes those that were tracking the 5 wave pattern on the DX knew BEFORE that there was a big reversal looming for the US$ and to get out of shorts on GBPUSD and EURUSD, and longs on USDCHF and USDCAD


As a 3 wave correction was due, the result speaks for itself

Here is what i wrote on 30th May


"With a 5 wave move suspected on EURUSD coming to an end from May 1st, we also have what appears as a 5 wave move on GBPUSD, you can see how these have mirror each other, and opposite the DX and USDCHF markets"


Using the forex markets foretold of the bounce in US equity markets such as the DOW and SPX as "risk on" was back and the trend from the May 1st highs was over and needed a correction