外汇社区博客

按标签筛选:  Bear Market
Avatar

Gold Inflection Point


Before you start reading my current analysis on Gold I would recommend you to read my previous updates on gold with all the subsequent updates here: Gold Price Action Reminiscence of 2013
Base on my previous analysis the market has still not reach my target as I projected a target of $900 by measuring the current wedge pattern that stated with Jun 2013 bottom, and I've projected that range to the downside giving me that number.
Usually Gold performs quite well during the beginning of the year a…
阅读全文
翻译为 英语 显示原始
留言
Avatar

EURCHF Resurrected from the dead

EURCHF have been driven by 2 important facts 1) 1.2000 SNB floor which in the last 20 months has acted like a magnet and strong support for the pair2) Although the market looks like it has established a major Low swing point the price action and the history of EURCHF suggest otherwise and which is that we remain in the long term bearish trend as the Elliot Wave suggest we still have to make another low below the major low at 1.0066 for the 5 wave cycle to be complete.(see fig.1).1.0066 low is ju…
阅读全文
翻译为 英语 显示原始
Daytrader21 avatar

Eurchf has not followed with exactitude the Elliot wave count but it hasn't had much influence on the price although we made another higher high, taken out the previous swing high out (labeled wave C and wave IV of the bigger cycle) price indeed drop lower near my forecast price. Making another higher high wave has just changed the price structure not invalidating the whole wave count.

Price suggest that we are in a much more complex price structure and I suspect wee are going to form a "triple tree" triangle which will extent the time period price will stay in this sideways market.

Daytrader21 avatar

One more thing I just want to add is that this "triple tree" triangle described by Elliot wave can take different shape which is a combination of patterns composed of simple types of corrections, including zigzags, flats and triangles, and their occurrence is very limited which is why this kind of price action appear only in special occasions like the case of SNB 1.2 PEG and which as I said earlier tends to extend the sideways market action.

留言