7pasos

7pasos

Useing the candles to check up on the AUDUSD we can observe a clear divergence (remember de use of the context is vital to understand the balance between bulls and bears) which shows that we are at a point where the bears are exhausted. Afther the reduce in the down side pace, we observe the price in a price box (small congestion of prices in a horizontal zone)...

7pasos

The bearish engulfing should be a small body sorrounded by a big decision candle's body. As you can see here is not exactly the case because the small body isn't quite small but as always the prevalent thing when using candles is the criteria aported by the context. And due it think this is a good chance for a reversal and therefore a good chance to sell the...

7pasos

Following the alert that gave about the possible early end of the ending diagonal discussed previously now we can count as far as now a clear five as first response to that zigzag. By now I still prefering to see the price break above the 0.9304 high but if a clear zigzag to the downside is done and this go below the 61.8% retracement, the break of the b of that...

7pasos

Following with the USDMXN elliott wave analysis, the last time were talking about a upside movement than we then expected to be longer and after that a decline, well the decline has probed as far as now that the possible 3rd upside wave still not in way because the penetration of the 12.5870 support, but yet cant discard an upside impulse in it's first...

7pasos

Watch out the AUDUSD reversal could be all ready in place if the 93 level is broken due the zigzag that we can see in 1 hour chart as the last part of the ending diagonal!

7pasos

This have been an intersting history to see how the wave have been taking form, by now we expect this notable decline ends really soon and as is ending in what seems to be a ending diagonal will present a very nice chance to buy a fast rally after it ends. After the truncated ending diagonal for wave c of what now we can conclude is the 3rd wave of a even greater...

7pasos

Under the dow theory we need to see a confirmation of the DJ Industrial by a higher close in the DJ Transportation to keep the bullish view, now more important after the longest retrace in the year. Even when the chances to appear this confirmation are pretty high, the devil is in the details and wait for this confirmation by observing new closing highs in the...

7pasos

Continuing with the analysis published some days before with the decline prediction based in the end of an expanded flat, we review today the decline, as you can see we can find multiple evidence of a impulsive start to the down side. At this point we should embrace the idea of a pullback, and if deeper will be better ( deep retracements occur more often in...

7pasos

Here a simpla way to understand the actual behavior of the crude Under this elliott wave theory of mine, base in 4 clear and simple impulses to figure out the oil rally: The first 2 are upside impulses conected by a clear expanded flat which form together a zigzag Then other 2 impulses pointing to the down side here the history is a bit different because i do...

7pasos

After the big rally the USDJPY started a correction to the down side followed by which we think is an expanded flat. Several guides lead us to this conclusion: 1) The 61.8% fibo expansion of a from it's end is really near the end of this wave 2) the 76.4% of retracement of a) (or 1) also could be) almost at the same zone 3) the clear pattern where can see clearly...

7pasos

After a long decline in the NZDUSD we can find a clear triple bottom confirmed with a nice loss of momentum (see how the AO had shown high low this time), even more inside the bottom we find a small support into the bottom which improves the chances because gives us a better risk reward ratio, but the problem is the down trend line that still have to be broken,...

7pasos

Here are the way i found to turn arrownd to the lack of alternance and the shortest wave 3 dilema As you can see Im considering in the 3)) wave the 1st as extended, and then the rest of the wave, if this is right we must see the dollar rebound from the 84 to a 85.10 or even more. Note that here we do not have a two extensions into the same wave, just nested...

7pasos

Here is in red my first theory of how the dollar was rising in a impulsive way, this was my count till yesterday, let me first explain why i decided to extend the 5th of the wave 3) (remember in red). The main reason was because the same kind of acute retrace observed in 2) and the next one retrace, as they do not show alternance, then I assumed the most probable...

7pasos

The EURCAD shows a combination of fibonacci projections thats makes more probable to expect the price fall to a 1.3538 because: Since the start of the rally we have seen the most wide correction downside (retracing in the first down movement a bit below the 1.36, thats tell you the upside is more probable have ended and there for we can expect some amount o f...

7pasos

The 5 wave decline was followed but just a shallow retrece (less than 38.2%) this is uncommond Therefore this could be because we are in a expanded flat retrace, and wave b the today's lows, this lows are consistent with the normal expansion of wave b (copared with wave a) in this kind of structures (127-138%). If the price holds with the lows of today arrownd...

7pasos

At the general contex thik the price is under a B)) correction in a ZIGZAG structure The first part of the recovery after the big sub-prime crunch as impulsive A), then a expanded flat to make a some what shallow correction and then an ending diagonal that could lead till the 1954 (there are always the chance to make a 5th truncated, but as this is the least of...

7pasos

After the historic high's for the wheat, its price has declined in a 5 wave fashion and then afther it we can observe what can be identifiable as a 3 legs upside correction. Then the price start to fall again few months ago. Actually the price is near a stage where will need to prove the strength of the decline by breaking the elliott channel. I'm kind of skeptic...

7pasos

The perfec trend line's break must include 4 steps: 1) break of the trend line (much better with a decisive candle) 2) reach of the last support/resistance zone showed prior to the line break 3) retrace to the broken trend line 4) Re-start of the new trend. We buy or sell at the begining of the 4th step Here we have a nice setup for this concept, where we can...