Hi guys,
I will post here my analyses and forecasts for some of the most traded currencies (Euro, US Dollar, British Pound, Swiss Frank, Japanese Yen, Australian Dollar, as well as some of the most traded financial instruments, such as Stock Indexes, Metals, and Commodities
I use technical analysis and Elliott wave Principle, as well as some sentiment indicators.
Hope to be useful.
Good luck.
There are rare opportunities that markets give us with almost 10% of risk. Well, it is of course a question of risk management that every trader has. But for me, things start with analysis and forecast. That is my way of trading and I think we’re about to see one of the most intensive and volatile drops in stock market indexes, since the March 2008 bottom. It is a single chart that I want to show here. S&P 500.
As you can see, I’ve already taken my short trade, near the 1,220 top, and don’t intend to close that trade soon. But what is more important is that the wave structure shows that wave iii of iii is just around the corner. As you know, those price actions are the strongest and the most volatile. They literally identify the trend in different time frames. An other thing to notice is the various possibilities for critical levels, which determine the risk management. I do not want to tell which is the most appropriate. It depends on the temperament of every trader. As a good entry point I will surely point the confirmational breakthrough. That is a conservative approach to the Elliott wave trading, but I have to tell you - being conservative is almost equal to being richer on the markets.
Corrective and sideways market patterns give possibilities of good trades too. They are more dangerous and sometimes too risky, it’s right, but there are moments when having a few confirmations is enough to be on the market. I think we’re come to one of those moments in COCOA. The wave pattern here is Expanded Flat (Irregular Correction).
Although this pattern is very dangerous for an Elliott wave newbie trader, there is a part of it which is developing as a five waves decline. If there are five waves in a certain direction, that’s the place for an elliottician to go on the market. In this case I’m talking about wave C. It is suppose to be a five waves decline in the opposite direction of the trend.
As we can see on the daily chart of COCOA, waves A and B look complete, and the top of wave B is a little bit higher that the top of wave III. That is what makes me suggest that we’re about to see a five waves on the downside for wave C.
Waves (i) and (ii) seem to be done, and we’re ringing the bell of the wave (iii) coming ahead. A sharp, intensive and volatile market move is what I expect to see during the next few weeks. There are a lot of possible entry points according to the Elliott wave style of trading, as well as critical levels. Everyone has different temperament and will to take risk.
No criticism intended, but its fairly uncommon to see people among these forums trading commodities. Almost everything here is spot fx.
LOL, advertising on your images? You’ll have to do better than that. 