Projection shows 2 possible Bullish Harmonics for USOIL, a Bullish Bat and a Bullish Gartley.. Yet too soon to call the case but I will be watching for now a stop around 48.10's for leg B from there a bounce to create a C leg for the scenario to play out.. I will update soon..
Might be looking at a Bearish Bat forming at this stage.. Just speculation..
The above chart has been created via combining Elliott Waves & Harmonics.. Odds looking good for an extension towards the 120's before cycle since July 2016 ends..
Good odds for a pull back if not new lows from around 1.30's.. So far supported by the the Elliott Wave count and possible Harmonic formation..
$EURUSD Retested and got rejected below the multi year supporting Trend line.. From here Bias is looking down..
What I will be looking for today 05/05/16 post the US #NFP Event.. 5 Wave sequence from the 1.0550's should see at least a 0.50% pull back to fill the Gap before deciding direction..
The $DXY $USDX Index structure still pointing higher, ideally towards the 112's area as indicated by the descending channel's or flag's upper boundary as well as by the time cycles 1 & 2 cloned offset to cycles 3 & 4 - Fractals.. Yet while that might be the case worth to point the index has started to overshoot the 4th cycle which indicating a distortion of the...
No many to say here, while looking for $Nikkei higher $FTMIB aligns with possible 5th wave extension towards the +20k..
The price of the Dow Jones $DJI has reached long term extreme levels with the 14day RSI marking max levels inline.. Note Elliott Wave theory requires RSI divergence in wave 5 while wave 5 is not the extended one (wave 3 already extended).. Setting this rule on the side and assuming that indeed price is rolling the last 5th wave, I would like to see a possible...
While the leg from the 2.303's down to 2.266's has a 5 wave structure and still at least we are missing one leg lower to at least correct from the 2.303's cycle, odds we are doing an irregular flat, currently extending higher in wave B as an irregular flat to roll again lower to complete wave C around the 2.250's - 2.210's area.. Invalidation area above the 2.315's..
Good Odds top inside in DAX while a Bearish Bat at the H4 TF
Visual representation where $NVDA holds against same sector stocks $INTC, $AMD, $QCOM & against $AAPL, $MSFT
No need for more comments for this chart.. If the EU financial Sector rolls down with wave 5 then DAX will follow..
This is Coldman Sachs Weekly Chart back from 2000.. & it is the main driver behind $DJIA Rally & in general the main driver behind major US Indices.. Has or almost about to hit the channel's upper resistance level.. If that is the case we should see AT LEAST a pull back in line with all American, European & other Indices..
Few odds with this formation yet worth to note that X to D should have been around 0.786 instead of 0.723.. Price has started overshooting the cycle as well..