Look beyond ordinary analysis
On Friday the 30th I published this chart showing the DOW poised to decline in a possible wave three of three, and I said this.
“If I am correct in my thinking, this will be wave ‘iii’, of (iii) of 3.
So the downside potential is large given the setup. the key level for me is 1.0504,”
This wave count foresaw a significant decline straight ahead. The market traded down straight out of the gate on Tuesday morning and fell 160 points to the lows of the day.
EURUSD sits at a very dangerous point right now, with the larger wave count calling for significant declines in the near future. we will track every step of the way.
On Tuesday I started the new week and the new year with this chart, which is following the short term setup in Cable, the wave count wave calling for a corrective rally in wave ‘c’ of wave [iv], and the target was in the area of 1.2380.
At that point the market stood at 1.2240.
By Thursday evening the market had topped the target and reached 1.2420 – a nice 180 point rally. On Thursday evening I wrote “Cable kept to the script today with a rally to meet the upper trend line on that trend channel.
I think wave [iv] is complete here at todays highs.”
The wave count had then called for a decline off the upper trend line, and by Friday’s close the market stood at 1.2270
The larger trend is now back in force in GBPUSD which spells pain for future in this market.
On Wednesday Evening the market stood at a precipice, and I wrote “I have labelled the price action today as a a bearish setup in a ‘i,ii’ 1,2 sequence to the downside. The wave ‘ii’ high at 118.18 is the first level to watch”
This wave count called for a steep decline dead ahead.
All throughout the day on Thursday, the market dropped like a stone, and by the end of the day the price had declined 230 points in one day.
It was a solid move and reveals a lot about the larger trend in USDJPY, which may be at an important turning point in the larger trend.
I have been speaking of a looming disaster in the stock market for a while now, and as the days go by the wave counts in the DOW keep pointing to one larger theme.
That is; we are witnessing the completion of the greatest bull market in living history, right now!
This fact is lost on most people, but it should not be lost on you!
I released this revised wave count on Friday night which is the best interpretation of the ongoing short term action. This chart speaks of a rally that is completing at six degrees of trend.
And the future that is fore told here is not a pretty picture with plain sailing and bright blue skies, it is one of struggle and financial disaster at a scale not seen since the great depression.
In the short term the market will likely skirt past 20,000 and all will seem well. But the message that is hidden in the price action, is one that should be heeded, it is time to start protecting you wealth.
Speaking of protecting your wealth!
The current wave count in Gold is pointing to a serious rally underway.
On the 20th of December I posted this chart and said this
“The decline off that high could be a completed five wave form, if so, it would be a failed fifth wave.
Where wave 5 of the structure does not break the extreme of wave 3. The daily RSI and MACD have now bottomed and are turning up. The signs are in, the rally is coming.”
By Friday’s close the Gold price stood at 1172. and the bullish signs keep piling up.
If the current Elliott wave counts are correct, it spells disaster ahead for the stock market, and a return to a bull market for Gold.
One thing is for sure, things are going to get interesting from here!
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390 total views, 10 views today