At the daily chart level the Euro is tracing out an impulsive w.C of w.(a) of the larger weekly W-X-Y (Double Three) or contracting triangle pattern. Preliminary targets for w.5 of w.C of w.(A) completion are 1.3272- 1.3429.
Note: w.C = w.A @ 1.3439 (not shown on chart). Breaks above 1.4047 invalidate this count.
Put it all together by watching this weekends edition of Heard on the Street.
Best of Trading
Hi Mike,
ReplyDeleteWe havent exchanged for long time. There is much intervention of markets that makes markets 's movements become more complicated and gold market is such market. When gold surpass 1912 peak, Switzeland Government intervened CHF, after that rising margin of Shanghai Trading Floor, European Central Banks, push gold down. However, "invisible powers" make gold act theoretically - wave 4 is often complicated, Here is running triangle of wave 4. I am so funny to see confusion of FA analysts, they dont know reason why gold declined while we(TA Analysts) realised it seemed that most peole(BBs) want gold to correct. That ' it!
This is my analysis of Gold:
http://mswing.net/news/mswing-phan-tich/Gold-Market-Movement-3460/
ndh - I show gold has topped but current price action is yet to confirm therefore, gold could make a run at your target.
ReplyDeleteAgree that intervention is making evaluating markets more dificult.
According to you, current wave could not be wave 4, could it? Could you show your analysis of Gold here?
ReplyDeleteThanks!
ndh - the full analysis is located in my global gains post video at http://bit.ly/oT0VF2 Unfortunately, you'll have to scan trhough the video as I can't section it my topics. Gold should be near the ending portions of the video.
ReplyDeleteShould you have any further comments regarding a specific market, please post them there or to an appropriate topic so that not confuse anyone.
Thanks