Monthly Archives: April 2015

Palladium

The bearish view in short term :

Palladium has still kept to develop the overlapping waves, likely in a running triangle as the minute degree wave b. Then rise in the following wave c of the same degree is probably ahead, in anticipation of an A -Triangle B – C in progress.

The immediate target for extreme point of the wave (e) of triangle is 765.35, where wave (e) equals 0.618 times the length of wave (c) – as a common relationship between the same direction subwaves in a triangle.

Note : The extreme point of wave (c) at 755 , could be considered as a “Red line” on this pattern. Because, wave E of a triangle pattern never moves beyond the end of wave C.

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.”

Palladium - Intraday 240Palladium - Intraday 600

Advertisements

DX

The bearish outlook :

US Dollar Index is correcting in the wave (iv) of an extending minute degree third wave.

The immediate outlook is sideways in anticipation of the corrective fourth-wave in progress. However, the broader outlook still remains bearish in anticipation of the continuing to fall in the wave C.

Note : The leading diagonals, as a directional concept, could infer to extend the following waves in direction of the leading diagonal.

DX - Intraday 360DX - Intraday 600

EURUSD

According to the bullish view :

EURUSD has extended to higher levels, in wave (iii) of an extending minute degree third wave of the wave C.

The immediate outlook is sideways in anticipation of the corrective fourth-wave ahead. However, the broader outlook remains bullish in anticipation of the continuing to rise in ongoing wave C.

EURUSD - Intraday 240EURUSD - Intraday 600

Platinum

The bearish outlook :

Platinum has sharply fallen, likely in an initial movement of the anticipated third wave, after retracing to the Fibonacci 0.618 level at 1164.

The outlook is persistently bearish against the 1164 – as the top of wave ii. The immediate target is 1117.6, where is the start point of ending diagonal as the micro degree wave c of expanded flat wave ii.

Note : Based on these conceptual chart, suggests that the price will more likely continue to fall to new lows in the coming days…

Platinum - Intraday 240Platinum - Intraday 360

Gold

The Bearish outlook :

Gold fell down! in an impulsive wave, and likely as an initial movement of the anticipated third wave.

The outlook is persistently bearish against the 1215 – as the top of wave (ii). An expected target for extreme of the ongoing wave (iii) is 1133.4, where wave (iii) equals 1.618 times the length of wave (i).

Gold - Intraday 240-1

Silver

The Bearish outlook :

Silver fell down! in an impulsive wave, and likely as an initial movement of the anticipated third wave.

The outlook is persistently bearish against the 16.73 – as the top of wave (ii). The immediate target is 15.76, where wave i equals the length of preceding wave i of (i).

Silver - Intraday 360-1

Silver

The Bearish outlook :

After retracing to near the Fibonacci 0.618 level at 16.78, Silver has poised to fall in impulsive anticipated third wave…

The outlook is bearish against the 16.73 – as the top of wave (ii). The immediate target is 15.76, where wave i equals the preceding wave i of (i).

Silver - Intraday 360