Monthly Archives: February 2015

Gold

According to the expectations :

Under the bearish view, Gold primarily completed the leading expanding diagonal wave (i), as a bearish concept at terminus point of 1252 , then a corrective wave (ii), and then extended wave (iii).

Currently, it appears that a “Running Triangle” formation, as the corrective wave (iv), could has been completed or is being completed…

Running Triangle :

“About the 60 percent of the time, wave B of a contracting triangle dose not end beyond the start of wave A. When it does, the triangle is called a running triangle.”

Gold - Intraday 360-1

Gold - Intraday 180-1

EURUSD

According to the bearish expectations :

After completing a Nine-waves Triangle formation, as the fourth wave, EURUSD has fell down in an impulsive wave, that should be a wave (i) of an ongoing fifth wave. And now its correction up in the wave (ii), is likely in progress. A close target for the wave (ii), could be on the fibo-retracment level at 1.1284 .

The expected fibo-expansion target for extreme of the fifth wave could be around the 1.0790 , where would establish an equality ratio between the waves v and i of the circled degree.

EURUSD - Intraday 600

EURUSD - Intraday 180

Silver

According to the bearish expectations :

Under the bearish alternate view, Silver completed the leading expanding diagonal as a bearish concept at terminus point of 16.54 . Also, correction of the pattern was completed in a (a)- triangle(b)-(c) formation at 17.43 .

Currently, the correction of an impulsive wave (i), in the expanded flat wave (ii), could be completed. So that, an impulsive wave (iii) has probably started its way down.

Silver - Intraday 180

Gold

According to the expectations :

Under the same bearish alternate view, Gold primarily completed the leading expanding diagonal wave (i) as a bearish concept at terminus point of 1252 , then a corrective wave (ii), and then extended wave (iii).  Currently, it appears that a “Running Triangle” formation as the wave (iv) is in progress…

Running Triangle :

“About the 60 percent of the time, wave B of a contracting triangle dose not end beyond the start of wave A. When it does, the triangle is called a running triangle.”

Gold - Intraday 360

Gold - Intraday 180

 

EURUSD

According to the bearish expectations :

As expected, the nine-waves triangle formation, as the fourth wave, has worked out. The current fall, from extreme point of the triangle wave (e) at 1.1382 , should be an initial impulsive wave down of the fifth wave. The expected fibo-expansion target for extreme of the fifth wave could be around the 1.0790 , where would establish an equality ratio between the waves v and i of the circled degree.

Triangle:

“A triangle appears to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. The triangle pattern contains five overlapping waves that subdivide 3-3-3-3-3 and are labeled A-B-C-D-E.”

EURUSD - Intraday 600

EURUSD - Intraday 180-1

DX

An explanation on this frame of daily chart :

On the impulsive five-wave sequence up, as the ongoing wave (3), it appears its fifth wave could have extended. An expected Fibo-expansion target for the extreme of extended fifth wave could be around the 97.22 where the wave 5’s length is related by the Fibonacci ratio of 1.618 to the length of wave 1 through wave 3 .

DX - Daily

DX

According to the bullish expectations :

As expected, the bullish contracting triangle, as a fine formation on the fourth wave, has worked out. The current rise from the 94.08 , should be an impulsive fifth wave. The expected fibonacci target for the fifth wave could be around the 97.19 , where we have a cluster of fibo-expansion targets on various degrees of this wave.

Contracting Triangle:

“A triangle appears to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. The triangle pattern contains five overlapping waves that subdivide 3-3-3-3-3 and are labeled A-B-C-D-E.”

As a rule about “Contracting Triangle” in  Elliott Wave Principle :

” Wave C never moves beyond the end of wave A, wave D never moves beyond the end of wave  B, and wave E never moves beyond the end of wave C. The result is that going forward in time, a line connecting the ends of waves B and D converges with a line connecting the end of waves A and C.”

DX - Intraday 600

DX - Intraday 240

Copper

An explanation on this fine frame of Copper’s intra-day chart :

After an impulsive five-waves sequence down as wave iii , and in a leading diagonal first wave – an impulsive third wave – an ending diagonal fifth wave, the ongoing wave iv, in a Zigzag [ A – Triangle B – C ]  may be completed. So that decline of wave v is likely ahead.

Copper - Intraday 360

Copper

An explanation on this fine frame of Copper’s intra-day chart :

After an impulsive five-waves sequence down as wave iii , and in a leading diagonal first wave – an impulsive third wave – an ending diagonal fifth wave, on the ongoing wave iv, a Zigzag [ A – Triangle B – C ]  is probably completing.

Copper - Intraday 360