ES is tracking with the projection from the weekend post. If correct, Minute W3 is done at today's high, a W4 down and W5 up yet to go.
EUR
The EUR/US$ has been a bit of a whipsaw lately on the hourly Trend/Osc. Buy signal on Wed, Dec1, sell signal on Tues, Dec 7 and back to a buy today. The buy on Dec 1 was only good for a small profit (relative to what the trend/osc has been generating in the EUR) and the sell from Dec 7 was a loss.
The thing I'm noting here is that the daily Trend/Osc for the EUR is very close to a buy signal - a close above the downtrend line from the Nov 4 high will move this indicator to buy mode.
From an Elliott Wave standpoint I have the pattern down from the Nov 4 high labeled as an impulse wave with waves 1,2, and 3 complete and wave 4 in progress. However, the move up from the Nov 30 low is pushing the envelope in terms of time and distance if it is to be considered the 4th wave as proposed. The drop dead point on that idea is the low of W1 at 1.3569. All in all we are at a crossroads in the EUR.
Been out of pocket the last three weeks on my European vacation. Yes, still following the Vindicator live feed as it works well with my trading style. Require a long term plan, though, as it's inevitable the Vindicator won't always be available. I better get working on it.
ReplyDeleteI dropped the 5 minute and Trend/Osc charts, were you watching those as well?
ReplyDeleteDec 20
ReplyDeleteAlpha- looks like you are, in fact, the only one following the Vindicator. I am discontinuing webcast as of today, contact me if you are interested in acquiring the code - no charge, but I do need a confidentiality agreement.
Yes, I am, thanks, Al.
ReplyDeleteConfidentiality agreement will be no problem either as I'm a lone wolf here with regards to trading.
mrgtw at yahoo