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Bonus! 4 weeks of The Elliott Waves Newsletter twice a week, on Wednesday and Sunday.
HOW: There will be very little blah-blah and you will be asked to practise on paper charts and your laptop straight away. Check the content HERE
We will identify set ups and triggers on a wide range of FX & Commodity Charts and we will setup your trading platform to be ready to trade straight away.
My teachings are structured in progressive stages: every bit of information will be followed but practical application on real charts.
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SPI200: SETUP & TRIGGER
Note that, to make things more clear, I no longer show displaced moving averages on charts.
SETUP
The SPI200 future closed at 4359 and it seems ready for the very last rally that would form a major top followed by a major bearish reversal.
If the wave count is correct, we're heading to the area around 4686. If the rally stops running early - in the area 4565-4583 - it will stage a double top.
TIMING:
Some Fibonacci calculations reveal the chance of the top around Dec 10-11 or Jan 7-8
TRIGGER
The trigger occurred already. It's made of 4 elements identifiable in the 15 min chart (last chart below):
- 5 waves down - of the smallest grade (in red)
- Candlestick Reversal
- A set of waves made of wave 1 and 2 (in blue)
- A double bottom
SITUATION
The whole pattern, a huge retracement wave 2 down (see "e2", bottom right), started in April 2010 and it's shaping a "1-2-3-4-5" pointing down, as in the monthly chart below. We are currently completing leg 4 up.
Leg 4 up is part of correction wave "2" made out of the above mentioned 5 legs and ending in the area named "e2", the lower cluster of horizontal lines.
Click the chart to enlarge. To revert to small view press esc.
Leg 4 up is part of correction wave "2" made out of the above mentioned 5 legs and ending in the area named "e2", the lower cluster of horizontal lines.
Click the chart to enlarge. To revert to small view press esc.
The blue channel - weekly chart below - shows that the major wave 4 (in red, top right, font 12, near the apex of the triangle) is, in turn, made of 5 waves itself. The 5th one is not there yet and it's supposed to reach the upper channel line or cross it a bit.
Click the chart to enlarge. To revert to small view press esc.
In the daily chart below, wave 1 turned out to be an over-extended wave and wave 3 a regular one. The new wave 5 should be similar to wave 3.
Click the chart to enlarge. To revert to small view press esc.
Click the chart to enlarge. To revert to small view press esc.
Note the reversal candlestick in the 4-hour chart below. The first expected resistance should be around 4421, given the confluence of few Fib-nodes.
Click the chart to enlarge. To revert to small view press esc.
The 1-hour chart below shows another possible resistance around 4400.
Click the chart to enlarge. To revert to small view press esc.
Click the chart to enlarge. To revert to small view press esc.
Finally, the 15min chart below shows a nearly perfect TRIGGER.
This trigger occurred already. It's made of 4 elements identifiable in the 15 min chart (last chart below) as:
- 5 Waves Down - of the smallest grade (in red) - prior the reversal.
- Candlestick Reversal.
- A set of waves made of wave 1 and 2 (in blue).
- A double bottom.
