Good luck!
Feb 16, 2010
STOXX 50- Elliott wave update
STOXX50 index has formed very clear and reliable 5 wave impulsive pattern like DAX. But the corrective waves structure little differs. According to the wave count. is expected (2) or (B) wave progression to at least 2.767=38.2% Fibonacci, or nearly 2.872= 61.8% Fibonacci level retracement. The situation gives us great opportunity to take short position, chasing wave (3) or (c) ,and has reliability over 90%.
Feb 14, 2010
DAX-Elliott wave update
Happy Valentine's Day !!!
Almost nothing changed since my last post about DAX. I still expect (2) or (B) wave progression to at least 5.655=38.2% Fibo, or 5.821=61.8% Fibo. I missed 50.0% Fibo, because that level matches resistance peak at 5.738. If the price action break that resistance, possibly the price will run after at least 61.8%Fibonacci.
Most probable reversal levels-5.666 and 5.796.
Almost nothing changed since my last post about DAX. I still expect (2) or (B) wave progression to at least 5.655=38.2% Fibo, or 5.821=61.8% Fibo. I missed 50.0% Fibo, because that level matches resistance peak at 5.738. If the price action break that resistance, possibly the price will run after at least 61.8%Fibonacci.
Most probable reversal levels-5.666 and 5.796.
Feb 13, 2010
Feb 11, 2010
DAX-Elliott wave update
Since my last post about DAX I've changed the wave count a little, but the pattern hasn't changed, just a bit extended. As you see my expectations are for corrective (2) or (B) wave, which is on the half way according to this count.
Usually I can't afford to suggest and trade corrections, but in this case (bigger time frame) I did it anyway. And ready to cover in emergency around 38.2% Fibo. My trade and picture about STOXX50 is similar. I don't suggest to get in now, because it's little bit late for long trades now, I mean more risky. Better wait for the bearish train. It promises better short target.
Pu/call ratio is up as well, confirming my short term idea.
Usually I can't afford to suggest and trade corrections, but in this case (bigger time frame) I did it anyway. And ready to cover in emergency around 38.2% Fibo. My trade and picture about STOXX50 is similar. I don't suggest to get in now, because it's little bit late for long trades now, I mean more risky. Better wait for the bearish train. It promises better short target.
In daily time frame the tape hasn't change a lot. That is what i do expect. I will make a daily update when the price is closer to the red battle field.
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