surfingmarket

surfingmarket

USOIL is breaking higher. My near term strategy is: 1, Sell rally with divergence 2, DO NOT chase break up of $50.50 3, Buy deeper dip either from current level or after a false break up

surfingmarket

EURUSD has surely just finished an initial wave A decline with a wedge. A wave B bounce is imminent from here

surfingmarket

In the long term, the pair could be in the latter part of a big wave IV correction OR the beginning phase of a large wave III decline. In the near term though, to buy dip below the near term low and target a bounce is a safe play IMO.

surfingmarket

I still hold the expectation of EURUSD dropping. The exact path is yet to see. Nonetheless, another new high is unlikely.

surfingmarket

Near term divergence is very clear and pitchfork support is good for a rally from here. A bear case would be a 3 wave 4th wave followed by a final stretch 5th wave.

surfingmarket

The most recent high is, at a very bullish case, a wave iii inside of a wave v. I am expecting a washout/fake out high at the most.

surfingmarket

Earlier, I publish a series ideas featuring short dollar positions. They all have worked out. However, the tide might have turned. For the case of AUDUSD, the wave count is extremely complex. 1) a green count indicates that the pair is in the C wave of a larger 4th wave correction. Ultimately the pair is going to break a new high. 2) a red count indicates that...

surfingmarket

Nasdaq had just confirmed its bullish trend. However, in the very near term, I expect a shallow pull back from the current level to give us a long opportunity.

surfingmarket

JPY pairs are making the final push across the board. EURJPY being the most active. The huge megaphone pattern is unfolding. Will the equity top with it?

surfingmarket

NZDUSD just form a huge head-and-shoulder bear trap. A lot of traders must have been trapped. The pair is bouncing inside of a wave 2 or wave b. Longer term, the high has been set and a wave 2 is unfolding.

surfingmarket

Not like EURUSD, AUDUSD is not yet in the most impulsive phase at this time. Therefore, it has the most room to run to target a wave 5 rally. Near term though, it is a bit tricky. The rally failed late Friday. It could mean either an expanding wave 3 or a complex a wave 2 triangle.

surfingmarket

Here is the count of GBP. The pair is in longer term wave 4. It is bouncing inside of a wave B or wave X. The ultimate wave 4 target is the 50% retracement of the entire wave 3 rally, which has a long of confluence.

surfingmarket

Watching this amazing rally unfolding is just stunning. The impulsive wave kept extended. Going into a critical long term resistance, we could finally start to count the resolution of the entire move. The minor wave iii has not completed. I expected it to finish at around the long term resistance level, and the wave v to present a fake out and then fail from there.

surfingmarket

The whole market has been choppy the entire week likely due to the JacksonHole. I expect volatility to kick back in next week. Act before see the price action, play range cautiously for the time being as long as the blue flag is held.

surfingmarket

Weirdly, USDSEK always has the cleanest technical picture/ wave count, which gives us an idea of general dollar strength. USD is in a bigger picture 4th wave. In the near term, a minor wave 5 is unfolding. If we hit the 50% retracement in this wave 5, the ultimate wave 4 terminal is going to come at where ever the pitch fork becomes support.

surfingmarket

The scope of nikkei is the weakest among the global equity. It is expected as the nikkei is in a X wave rather than 5th wave like other major indexes. However, the sharp decline today flash warning sign of another washout low. The pitchfork should hold. If by any chance it breaks, the whole wave count should be expanded. That is very unlikely though.

surfingmarket

Small down day for global equity as expected. The 2 wave could have finished or very soon. Strong buy for the DAX to play a bullish 5th wave.

surfingmarket

Gold finished an ascending triangle, which is likely to the minor wave 1 inside a higher degree wave 3. The upcoming dip could be the minor wave 2 for a buy setup. Play short side for now.