Ewj: elliott wave

Quote from Mup:

On the inverse CAD H9 I'd like to see a move towards 0.70... that would mean a move higher on your chart blnbr, towards the 1.30 area...
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Thanks Mup.

From my conventional TA, it seems to me the USDCAD price is now forming a pennant chart pattern. If the price breaks the upper pennant line, it can move higher. Perhaps this is a more likely outcome.
 
Quote from Mup:

I have dollar strength on the Dollar index as part of a C wave move higher...

Gold has been pesky in moving higher, which kinda of goes against dollar strenth, but the move up in gold looks like (B) wave as part of a larger degree Flat pattern, before a move back down for the (C).

Anyway heres a weekly DX #F chart....
See what you think :)
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The dollar strenth these days is maily against the EURO, CAD and the GBP etc. But the dollar is weak against gold and JPY. That's because investors trust gold and JPY better than the US dollar these days. :)
 
The Spike Fractals had turned into "M" Fractals :) .
There may be a bigger "M" following the big "M" :D .
The big "M" confirmation may turn into a Bear TraP :eek: .

Quote from mu200411:02-01-09 01:02 PM

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Note the fractal spike and the big spike with 76.4% retracement......
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Quote from mu200411
The big "M" confirmation may turn into a Bear TraP :eek: .
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I was looking towards that as well Mu with this mess still being part of an e wave of a triangle or a Y of a larger w-x-y.. Would catch the 1,2 looking for a 3rd(of a )5th wave counters out....

Delta could go either way on the lower term I just need it to show its hand on the inverson...

However if we go below 803 (1:1 on the ES-24h) area the odds say we need a new low around 726 (ES)
 
Hi ed,
Looks like finised the 4th......:)

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Of couse with all this debate on 3 wave patterns we can not rule out our old friend the ED :D
If the delta dose not invert then this option becomes more tangible....

Daily SPX
 

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Quote from blnbr:

One of the possibilities?
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Perhaps you can try labelling the counts on the chart? :)

From there, you'll better understand what those circled areas correspond with. :)

Give it a try?
 
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