Monday, 31 October 2011
Well we got our sell signal
we met the requirements in Saturday's post http://chartramblings.blogspot.com/2011/10/pinnochio.html
and this may be playing out http://chartramblings.blogspot.com/2011/10/blog-post_27.html
and we got evening star reversals in european indices and the euro
and this may be playing out http://chartramblings.blogspot.com/2011/10/blog-post_27.html
and we got evening star reversals in european indices and the euro
here is a chart from Mike Breaux's website http://spwavetrade.blogspot.com/
The 21,34 emas have crossed bullish so the mechanical trade is to look for a pullback to buy.However the speculation is that we may have a similar situation to 2007 (Mikes red box) .Worth keeping an eye on price action wrt these ema's over the next few days.
The 21,34 emas have crossed bullish so the mechanical trade is to look for a pullback to buy.However the speculation is that we may have a similar situation to 2007 (Mikes red box) .Worth keeping an eye on price action wrt these ema's over the next few days.
here is my chart with a possible channel and 5 dema added.We need to break the 5 dema as initial sign at least that a turn may be starting.Friday's candle was a doji,which often marks a top.Elliott wave people are mostly calling for one more push to around 1306
Sunday, 30 October 2011
Saturday, 29 October 2011
cycles and the Aussie dollar
from the Nov high we ran up to another high 6 months later,then another in 3 months so the 12 month cycle seems a likely candidate for a top in which case the "risk-off" trade would most likely be triggered so a 6 month cycle top might be seen in equities.All conjecture until pattern gives us a trigger ie a reversal.The same cycles should be monitored in the euro and other currencies
Friday, 28 October 2011
Dax
I dont see how people can start getting excited about a new bull market (as some were yesterday) when the European charts still look so poor.I am pleased I posted on the bullish potential of the base on the Dax a few weeks ago but I must admit I didnt expect to see us reach 6400. 6400 is square of 80 and 3600 was the bottom,8100 (ish) was the top,both squares
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