I respect AEX Index a lot, because it's Dutch. Maybe, some of you don't know the fact, that the word "BOURSE" comes from HOLLAND in 17th century, but this is other theme. Some day I'll tell you the whole story.
So AEX, like it's European fellows DAX and STOXX50 has painted something, which was worth to involve me in trades - "C" wave of the "zig -zag". Usually I don't trade corrections, except when I am in a good trading condition.The pattern I have labeled as (1) wave looks like an "expanded leading diagonal".
The price already met my first target and 38.2% Fibonacci, painting complex correction. I still don't know if the price going further to 61.8% Fibo or not. It is possible channel line back test as well, which will be close 61.8% retrace. I think better get out, and prepare my mind for bear dance.
MARKET FORECASTING, USING GANN'S ASTROLOGY METHODS, ELLIOTT'S WAVE PATTERNS AND FIBONACCI LEVELS
Feb 18, 2010
Feb 16, 2010
100 free charts & analysis -fresh from EWI
I have always searched for answers about the nature of things, something that satisfied both my intellect and my sense of wonder. Here I found a history of the world, that coincided with my belief that mankind is progressing, however slowly and grudgingly. EWI have advanced my thinking and given me cautionary advice about the road ahead. I admire Robert Prechter’s courage - to rediscover, and show the world, how simple and real the EWP can be. So I trust these guys.
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.
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