peterdcharlebois

peterdcharlebois

The current shape suggests a little more downside

peterdcharlebois

These 2 interpretations of EW counts on BTC are both quite legitimate and show the Crypto is at a crossroads. If the equities markets continue their correction and go Bearish, it's anybodies guess as to where this will go with that influence.

peterdcharlebois Updated 

The Index does not look like it's recovering. A drop below 2583 and things could accelerate downward like crazy.

peterdcharlebois Updated 

So we've been bouncing around between the old sharp channel. I think the top was an overthrow that will now give way to a larger decline. Buckle up.

peterdcharlebois Updated 

The most common relationship in Elliott Wave Theory is that the "impulsive move" correction of a wave usually returns to the start of wave 4 of a lesser degree. With this in mind if we break below what appears to be the wave 4 and continue lower, it usually signals that the final wave 5 is complete and we have turned the corner to reverse the direction. This is...

peterdcharlebois

Almost all "Bubbles" return to where they started. The trick is to try and determine where that is on a chart. The parabolic nature is one clue as are the most defined lines of support/resistance. The levels to watch are 4980, 2980, and 1830. There will surely be a bounce on all these levels. Which one will be a return to a bullish advance? Elliott Wave can give...

peterdcharlebois

I'm watching two important levels. 96.00 and 93.50

peterdcharlebois Updated 

Well... at least the downside risk is obvious. The price action around the trendline will be interesting

peterdcharlebois

I saw this squeeze going on and thought... This might be where the turn happens... BAM! One of the nicest trades I've ever made. Trading is 1 part analysis, 1 part money management and 1 part luck. I like it when I pay attention and get lucky. The real luck here is that I went to bed was not tempted to close it early had I stayed up watching it. (I'm sure you all...

peterdcharlebois

The Bears seemed to win this one... for now. It demonstrates how much pent-up energy there is in this pair. When it finally breaks to the upside, it will be a run. Again.. watch OIL for a temporary top. If it breaks back above 1.2660 it could rocket.

peterdcharlebois

Two well-defined inflection points for next move

peterdcharlebois

That's quite the engulfing candle following the Crude Inventories News. A turn back down here would be a total surprise. Look up for a while on this pair... I think,

peterdcharlebois Updated 

It will be interesting to see if a new low here causes a turn

peterdcharlebois

Crude inventories news release causesOIL to turn hard from its 6 month high. This could be the tempory top for now and should cause the USDCAD to at leats correct for a few days or weeks.

peterdcharlebois

If Gold is in a triangle formation it should go down from here

peterdcharlebois

Just for fun I measured the longest uninterrupted move on the CAD from 2008. We are about 3/4 of the way there. I am watching closely for a bounce but I bet it still won't be much. As long as OIL is strong... so will go the CAD. Will history say that 1.46 was a long term top?

peterdcharlebois

The bounce from the bottom is a bit weak and does not look impulsive at this point. However, a bounce is due. So a thrust down should be seen as a buying opportunity.

peterdcharlebois

The daily candle chart is showing a potential key reversal. A break above 114.00 would cement the case. I would expect some resistance in the zone from 111 to 115.