ES hourly
ES daily
EUR/US$
Been getting a good case of whiplash in my EUR trading since the beginning of the month, but when I back out and look at the Elliott count it appears fairly simple. Don't know what happened to my crystal ball, may need to invest in a de-fogger.
EUR hourly
EUR hourly - zoomed in - note the almost perfect .618 retrace of Minute W1 (green)
EUR daily
If these counts are correct, the EUR/US$ should accelerate down tomorrow.
Al,
ReplyDeleteThe Euro whiplash has gotten many of us. After two short attempts I went neutral today. The lack of downward momentum was one reason.
Thanks again for your postings. I made a favorite icon on my iPhone and named it Al.
ES to 1265 next week? A nice change in pace for the equity. lol What probability do you assign to that outcome?
ReplyDeleteIf you're looking at the red dashed line on the hourly chart, that's not a price projection - just an indication of future direction. I would say the odds of hitting 1265 next week are extremely low.
ReplyDeleteReversed positions to short EUR yesterday, finally appear to have a winner. Might add to short EUR's today.
ReplyDeleteYeah I'm short again too. Good luck next week!
ReplyDelete