Ewj: elliott wave

[mu200411]

AUD/USD reached 1.099 as Wave3]3)3.3
and retreated as Wave3]3)3.4 ).
Next moves may be Wave3]3)3.5 UP to 1.124, and
Wave3]3)4 which should be bigger than Wave3]3)2 and 4 .

Quote from mu200411:04-28-11 10:22 AM


....Retracement from AUD/USD 1.092 may be Wave 3]3)3.3:3iv where there may be a measured move UP to 1.099,
or Wave 3]3)3.3:3iii.ii where there may be another one-two fractal .
After the one-two fractal series ends we will see the three-four fractal series with bigger and bigger wave four .

 

[mu200411]

Silver Supercycle Wave III) might have ended near $50 :eek: .
Silver Supercycle Wave IV) may end near Fibonacci 38.2% retracement at $32 or
Wave IV of a lesser degree and 50% retracement at $26 .

 

[mu200411]

After Gold ends near $1600 ,
the DOWN move may end near
Fibonacci 23.6% retracement / Wave 4) around $1300 or
Fibonacci 38.2% retracement / Wave 4] around $1100 or
Fibonacci 61.8% retracement / Wave II or IV around $750 :eek: .

 

[mu200411]

We got our bigger correction as Wave 3]3)3.4 .
But wave five is treacherous, sometimes it extends, sometimes it fails ,
sometimes it does not appear at all :eek: .

 

[mu200411]

Looks like "Sell in May and go away" has begun :eek: .

 

[blnbr]

Yep, gold and silver are trading at dizzy hights, should watch them closely.

 

[mu200411]

Wave 3]3)3.4 should end and AUD/USD should rebound from above the red line at 1.0758 ,
which is the top of Wave 3]3)3.1 ,
and go UP to 1.111 , or else,
we have to recount it as Wave 3]3)4 ,
which can fall to 1.058 :eek: .

 

[mu200411]

"Sell in May and go away" is 3 days old ,
and reaches the first support, there may be a rebound ,
Wave 3]3)3.3 or Wave Bc]5)5 .
The former is usually accompanied by strong economic news ,
the latter is usually accompanied by euphoria and bipolar news :eek: .

Quote from mu200411:05-03-11 12:32 PM


Looks like "Sell in May and go away" has begun :eek: .

 

[mu200411]

We recounted, and AUD/USD falls to 1.061 near 1.058 target .
If there is no rebound here, we may have to recount again as Wave 3]4) ,
which can fall to 1.025 :eek: .

Quote from mu200411:05-04-11 12:19 PM


Wave 3]3)3.4 should end and AUD/USD should rebound from above the red line at 1.0758 ,
which is the top of Wave 3]3)3.1 ,
and go UP to 1.111 , or else,
we have to recount it as Wave 3]3)4 ,
which can fall to 1.058 :eek: .

 

[blnbr]

Tomorrow is nonfarm report day, volatilities can be expected in Stock and forex markets. If SPX continues to fall till Monday, maybe it’s time to go long again.