chessnut

chessnut

BTCCNY has completed most of a flat correction after a violent dip to the 1400 area. The flat, a 3-3-5 has begun with a simple 3, a characteristically deep retrace 3, an now it is evident that the wave C, necessarily a 5 wave impulse is an expanding diagonal. Expanding diagonals are built of 5 waves of three abc's, which must overlap in an expanding wedge, and...

chessnut

Gold has formed a flat correction off lows, 3-3-5 abc. I published a chart showing why I thought we could go up after a bearish triangle, but now that the triangle is resolved and was followed by a flat bullish correction, wave 2, the trend is down. if the triangle was not a B wave, it was a iv wave. Surprisingly, this could be a 1-2 before an epic steep wave iii...

chessnut

Oil is in wave iv of a very large and rapid decent. After picking the bottom ending diagonal I published a chart describing an abc that needed to take us higher to set wave iv in place. This is an adjusted count catering for what seems to be a triangle pattern unfolding in 3s forming in wave B position. This still implies upside to the $60 area although upside is...

chessnut

The EURUSD has been free falling for weeks and months now, and with sentiment at an all time bearishness, we are approaching a bottom. Following a degree of wave iii, the EURUSD has demonstrated a non impulsive reaction composed of zigzags. The recent failure of wave c impulsive implies that we are in a typical wave iv triangle consolidation. This cannot last...

chessnut

A flat correction in EW analysis is a 3-3-5 pattern. Wave B of a flat may surpass the extreme of wave A. Wave c must be an impulse. Here the requisites of a flat corrective count are met where wave V is an exciting ending diagonal - exciting because, like triangles, ending diagonals reverse sharply, and travel at least to the beginning of the move quickly. I...

chessnut

The triangle across BTC exchanges has just broken up, unexpected on my part. This means a quick readjustment of the count to be more like DanV's and this breakout gives us some precious info about the next reversal and a short-medium term long scalp. The price should be able to reach at least 250 over the next 48 hours. When we have completed the impulse to the...

chessnut

US Oil has been trending down for a number of months and is prepared for a fair correction of the down trend. I picked the bottom when I spotted a tell tale EW pattern the Ending Diagonal, see below. After USOIL rallied impulsively to around $53 it corrected the rally non impulsively. This can therefore be considered either a primary wave, or a wave A of a larger...

chessnut

My previous publication was about the bullish triangle that the NAS100 has just broken out of. A triangle thrust is impulsive, and this is a fine primary wave example of an impulse. This primary wave will be followed by a retrace 2 as we see now, then by a great big wave 3, which could take us quite far to the upside, perhaps 5000. Triangles are terminal moves,...

chessnut

The NAS100 seems to be following a bullish triangle that has broken out to the upside similarly in the USDJPY. It makes sense that the two should follow each other as the JPY pairs are closely tied to the stock market. This makes a high confidence buy oppotunity because on a smaller fractal, a clear impulse has presented its self clearly marking a tradable primary...

chessnut

I published a triangle count for the BTCCNY pairs recently that has not yet broken out sharply to the downside. It seems like they were waiting for bitstamp as today bitstamp is showing off a beautiful EW triangle in great form. Wave e is complete, meaning that unless we have an extra wave f and g (probably not) the triangle could erupt violently to the downside...

chessnut

This is an EW triangle pattern that has completed in the BTCCNY pair. Triangles break out violently in the direction of the trend but are also terminal moves meaning that in the aftermath of the thrust a buy opportunity will likely present its self for a medium term reversal. This should have legs to reach around 1150.

chessnut

Gold has been bullish from long term lows. After reaching the 1300 target impulsively, it has now corrected correctively. This count outlines and flat abc that has unfolded, a 3-3-5. In the middle, a precious clue that gives us a strong buy signal in this area that rarely fails. The EW triangle is a pattern that occurs in wave B or wave IV position only, in other...

chessnut

As forecasted weeks ago, the USDJPY has been sideways in an EW triangle - This could be a major wave iv. Considering the instability of the global market right now, and that triangles are always terminal moves preceding major reversals in trend, the characteristically violent upthrust that will probably result next week from the release of the NFP last night...

chessnut

A vivid bearish triangle violently (characteristically) broke down in the BTCCNY pair last night producing a low of around 1320. Triangles are always terminal moves to one higher degree of fractal. knowing this, we can piece together the medium term picture to see that a flat ABC correction is probably under way. Wave C could be a nice impulsive wave towards 1580,...

chessnut

The reaction from lows in the EURGBP was non-impulsive from the start. This is why I have been tracking this flat correction, wherein wave A of an abc may be non impulsive. Wave C is an impulsive ending diagonal. USOIL recently demonstrated an example of an ending diagonal - When an ending diagonal completes it quickly reverses and retreats to at least the level...

chessnut

It's very simple, BTCCNY has revealed early through non impulsive behaviour that it is very likely forming a triangle. If wave e completes as illustrated then this is a powerful scalp long - if you can catch it! triangles are always terminal moves, so carefully shorting the top is an option given a good signal and good wave form.

chessnut

An impulsive count from lows in the BTCCNY pair turned out to be corrective in nature. After producing a zig zag, now a unorderly retest of lows, and a terminal EW triangle, the count is strong in favour of a larger flat correction. We are looking for a five wave rally from this point, likely to 1500+ yuan. There is one alternative, that the flat evolves into a...

chessnut

USOIL has been giving signs in terms of EW that it is approaching at least a short term bottom soon, besides sentiment and bullish short term FA, because the current downside behaviour is not indicative to the down side. The best count to fit this zig zagging behaviour into is an ending diagonal. This is a good example of one. Characteristic of an ending...