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Ewj: elliott wave
- Thread starter mu200411
- Start date
Gold's Bull Trap after false break.
Gold could not pass resistance trend-line to reach MA(50) then fell to new low and confirmed the very "Big M" pattern.
This is a nightmare came true.
First target = MA(200) at $1433. Next = "Big M" target = $1300.
Silver same pattern, but already broke the MA(200).
Support = $25, $23, $20 and $17.5.
MACDs and RSIs are weak.
Crude Oil rebounded to just above the left shoulder then fell back through neckline as expected.
Note two "Big M" patterns in Crude Oil chart.
$XEU could not pass bearish MA(50)@131.12 and previous highs, which might have turn into a very big reverse Head and Shoulder patterns in weekly chart.
$USD support at previous low and bullish MA(50).
Gold could not pass resistance trend-line to reach MA(50) then fell to new low and confirmed the very "Big M" pattern.
This is a nightmare came true.
First target = MA(200) at $1433. Next = "Big M" target = $1300.
Silver same pattern, but already broke the MA(200).
Support = $25, $23, $20 and $17.5.
MACDs and RSIs are weak.
Crude Oil rebounded to just above the left shoulder then fell back through neckline as expected.
Note two "Big M" patterns in Crude Oil chart.
$XEU could not pass bearish MA(50)@131.12 and previous highs, which might have turn into a very big reverse Head and Shoulder patterns in weekly chart.
$USD support at previous low and bullish MA(50).
Quote from mu200411:04-07-13 06:04 PM
Crude Oil fell further according to RSI SELL Signal. MACD SELL Signal appeared as expected.
There may be rebounded from new Head and Shoulders neckline to the new left shoulder level then fall again.
Crude Oil is in triangles, break out on either side should be strong.
Gold made a false break then rebound from channel support and a hammer.
RSI BUY Signal and Hammer in weekly chart might send Gold UP to MA(50) or MA(200).
A new low in Gold will be a nightmare because of the multiyear "Big M".
Silver rebounded from previous lows and MA(200) near $26.5 with RSI BUY Signal. $29 will be a major resistance.
$XEU Bullish Engulfing, might rebound to 132 before falling again.
$USD Bearish Engulfing, might fall to 81.5 before going up again.
Attachments
Weekly TRAN MACD started turning DOWN, might cut trigger line DOWN soon.
Stock could be overbought forever, but after third SELL Signal in RSI like SPX's and NASDAQ's weekly RSI, trend might change.
INDU's Daily chart RSI to show third SELL Signal soon.
Weekly INDU's RSI overbought, if fell below 70% trend may change.
Stock could be overbought forever, but after third SELL Signal in RSI like SPX's and NASDAQ's weekly RSI, trend might change.
INDU's Daily chart RSI to show third SELL Signal soon.
Weekly INDU's RSI overbought, if fell below 70% trend may change.
Quote from mu200411:04-07-13 11:32 PM
TRAN completed Head and Shoulders pattern rebounded to MA(50).
Weekly TRAN's RSI showed SELL Signal. MACD might follow soon.
INDU still strong, but showed divergences. INDU's weekly RSI at overbought level might give SELL Signal soon, same as MACD.
NASDAQ confirmed "Big M" pattern and rebounded from channel support.
NASDAQ's weekly RSI showed SELL Signal after multiple divergences.
MACD might give SELL Signal soon.
SPX's weekly RSI showed SELL Signal. MACD SELL Signal to follow.
"Big M" pattern might be confirmed soon.
Attachments
Silver beat $23 target which is more than 50% correction form 2011's top. This may be a Cycle Wave IV) correction.
Gold almost reached $1300 target.
Cycle Wave IV) correction might get to $750-950 in 5 years time.
Crude Oil's "Big M" pattern confirmed, target might be $85.5.
$XEU's Head and Shoulders target might be 122.
$USD's reverse Head and Shoulders target might be 91.
Gold almost reached $1300 target.
Cycle Wave IV) correction might get to $750-950 in 5 years time.
Crude Oil's "Big M" pattern confirmed, target might be $85.5.
$XEU's Head and Shoulders target might be 122.
$USD's reverse Head and Shoulders target might be 91.
Quote from mu200411:04-14-13 03:05 PM]
Gold's Bull Trap after false break.
Gold could not pass resistance trend-line to reach MA(50) then fell to new low and confirmed the very "Big M" pattern.
This is a nightmare came true.
First target = MA(200) at $1433. Next = "Big M" target = $1300.
Silver same pattern, but already broke the MA(200).
Support = $25, $23, $20 and $17.5.
MACDs and RSIs are weak.
Crude Oil rebounded to just above the left shoulder then fell back through neckline as expected.
Note two "Big M" patterns in Crude Oil chart.
$XEU could not pass bearish MA(50)@131.12 and previous highs, which might have turn into a very big reverse Head and Shoulder patterns in weekly chart.
$USD support at previous low and bullish MA(50).
Attachments
Weekly TRAN's MACD cut trigger line DOWN as expected.
Daily UTIL's RSI first SELL Signal. MACD might cut trigger line DOWN soon.
Daily INDU's, SPX's and NASDAQ's RSIs, MACDs and divergences showed SELL Signals.
Weekly INDU's, SPX's and NASDAQ's RSIs showed first SELL Signal.
MACDs might show SELL Signals soon.
Daily UTIL's RSI first SELL Signal. MACD might cut trigger line DOWN soon.
Daily INDU's, SPX's and NASDAQ's RSIs, MACDs and divergences showed SELL Signals.
Weekly INDU's, SPX's and NASDAQ's RSIs showed first SELL Signal.
MACDs might show SELL Signals soon.
Quote from mu200411:04-14-13 11:00 PM
Weekly TRAN MACD started turning DOWN, might cut trigger line DOWN soon.
Stock could be overbought forever, but after third SELL Signal in RSI like SPX's and NASDAQ's weekly RSI, trend might change.
INDU's Daily chart RSI to show third SELL Signal soon.
Weekly INDU's RSI overbought, if fell below 70% trend may change.
Attachments
There is no system that is 100% proof to give you profit on every trade. Elliot Wave is a roadmap (subjective) that helps a trader to identify a market turn or a reversal (could be a high or a low). I took a loss this morning on my short position and will try hard to get it back on the next trade.
Freddy!!!!!
Freddy!!!!!
I am not talking about 100% always win, I am talking about if the whole theory actually makes sense at all. No one can prove if this theory logic is a novel or a real useful thing.
Quote from freddy61:
There is no system that is 100% proof to give you profit on every trade. Elliot Wave is a roadmap (subjective) that helps a trader to identify a market turn or a reversal (could be a high or a low). I took a loss this morning on my short position and will try hard to get it back on the next trade.
Freddy!!!!!