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Wednesday, December 3, 2014

Elliott Wave Analysis of GDX (update)

This is an update to this idea http://wavepatterntraders.blogspot.com/2014/11/elliott-wave-analysis-of-gdx.html

Currently I think we will likely see a bit lower to complete a small correction from the 18.09 lows, ideally we see buyers step up around 18.75, but a bit lower should complete a corrective decline.

I am looking for the bulls to step up above 18.09, so readers that wish to take long positions can do so buy using 18.09 stops. This is a very aggressive idea, but if its correct we could be on the verge of a strong break out higher in what we call a "3rd of 3rd". That will be a great move for the bulls.

Below 18.09 will negate the current short term idea, but its still valid on a larger time frame as long as it remains above the November 2014 which is at 16.44.

Do you need more updates like this? Come join us, GDX is part of the commodities section, for $15 a month will get you access to road maps just like this.

Sunday, November 30, 2014

Elliott Wave Analysis of EEM (update)

Back on September 14th I wrote a post suggesting there was strong grounds for a decline
you can read that here:


So far its declined nicely as I expected it to, the bounce off the Oct 15th lows is very corrective looking, so I still strongly believe we should see more downside from here. once wave 2 is completed, wave 3 should take it back under the Oct 15th lows and target much much lower, initial targets are around the 32.50 area.

A simple way to play this idea is to look to buy the ETF EEV, as EEM moves lower EEV will move higher.

Elliott Wave Analysis of USDCAD (Short term)

Short term patterns suggest USDCAD can see a bit more upside and make new yearly highs.

From 1.1181 Its working a 5 wave impulse wave, furthermore I suspect its ended (or close to ending) wave [iii], so a pullback that holds above 1.1317 should setup for a move higher and target new highs.

Trade idea: Readers can look to buy a pullback around 1.1360-380. stops needs to be placed at 1.1317

Take profits at 1.1470 or above.

Saturday, November 29, 2014

Elliott Wave Analysis of USDJPY

Update to this chart i posted on StockTwits: http://stocktwits.com/message/29564320

Wave [iv] took on a slightly different pattern, but it held nicely above 117.00, I am still looking for a new high towards 119+ to complete what I believe is a 5 wave advance from the Oct 15th lows.

The RSI is showing some heavy divergence, which fits in with the idea of a 5th wave.

The trend from Oct 15th is getting stretched and i suspect its close to a significant reversal, initial targets are back to the 115 area.

Tuesday, November 25, 2014

Elliott Wave Analysis of Visa (V) & MasterCard (MA)


 The advance from the 2009 lows appears to be in a 5th wave, so is suspect its a terminal wave. It met its objective where wave [5] = [1], just a general look suggests it counts well for a 5 wave move, so that's generally a clear sign of an impulse wave.

A closer look at wave [5] also suggests a 5 wave advance, although wave 5 of [5] could do with a bit more upside to complete its move, a strong break back under 250 would offer evidence that wave [5] is complete.

1st targets are 195 - 180


This stock virtually has the same look to Visa, so i strongly suspect when Visa reverses, so will MasterCard, it may see a bit more upside 1st, but a strong break back under 80.00 would be the 1st signs that wave [5] could be completed.

Target is 65 - 60