Monday, May 17, 2010
SPX Fibonacci Confluence Zone at 1155
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The SPX looks to have put in a complete 5 waves down from the high at 1176 and is pulling back sharply in standard wave 2 fashion. There is a very important confluence of Fibonacci levels at the 1155/1158 zone which is the 61.8% retracement of the entire drop from the 1220 top, and the 61.8% of last weeks high. If price retraces this far I think this will be an excellent area to get short. Keep your stops at 1177.
Click Here to access Roy's Latest Video
For a free copy of Robert Balan's Elliott Wave Principle Applied to the Foreign Exchange Markets - Click Here.
Purple denotes a change made after my initial analysis
N.B. Several people have questioned me about my terrible performance in February. Those losses were due to lack of money management skills, not bad analysis. See my early March postings for a more details about those problems, and what I have been doing to fix them.
Market Predictions based on Elliott Wave Theory and Traditional Technical Analysis
For a free copy of Robert Balan's Elliott Wave Principle Applied to the Foreign Exchange Markets - Click Here.
This Month's Positions
| Aug | Unit | L/S | Entry | Stop | Target | Pips | ||
| 24 | SPX | S | 1055 | 1064 | 670 | -9 | ||
| 24 | NZ/US | S | 0.715 | 0.74 | 0.68 | Active | ||
| 1 | SPX | S | 1125 | 1064 | 670 | +61 | ||
- Jared
- Brisbane, Queensland, Australia
- I have been using Elliott Wave Theory for several years now and use it in combination with traditional technical analysis methods to assist me with my trading. My main focus is on currency analysis (FX) however I also analyze commodities and equity markets for their correlational importance. You can reach me on email at ewforex(at)gmail(dot)com.
Blog Archive
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2010
(165)
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May
(22)
- EUR/USD Possibilities
- SPX Video Analysis
- AUD/USD Could Be Topping
- Clear Impulse Down on the USD/CHF
- EUR/USD Hourly Chart
- May 22nd Elliott Wave Analysis Video
- EUR/USD Inverse Head and Shoulders Reversal
- SPX and DAX Video Analysis
- USD/JPY 30 Minute Chart
- SPX Fibonacci Confluence Zone at 1155
- SPX Elliott Wave Video Analysis
- SPX Wave 2 Looks to have Topped
- SPX Update
- USD/JPY Ending Diagonal 30 Minute Chart
- Covering My Short Positions
- SPX 30 Minute Chart Update
- EUR/USD 15 Minute Chart
- SPX500 Hourly
- AUD/USD Daily
- AUD/JPY Hourly
- CAD/JPY Daily Update
- SPX Head and Shoulders Neckline Breach
-
▼
May
(22)
Trade Results For 2010
| Aug | Unit | L/S | Entry | Stop | Target | Pips | ||
| 28 | GB/US | S | 1.595 | 1.62 | 1.40 | +70 | ||
| 27 | SPX | S | 1120 | 1114 | TBD | +6 | ||
| 22 | SPX | S | 1082 | 1078 | TBD | +4 | ||
| 16 | SPX | S | 1072 | 1063.3 | TBD | +8.7 | ||
| 8 | AU/JP | L | 76.9 | 77.1 | TBD | +0.2 | ||
| 6 | NZ/US | S | 0.70 | 0.716 | TBD | -160 | ||
| 1/7 | SPX | S | 1035 | 1033 | TBD | +2 |
| Jun | Unit | L/S | Entry | Stop | Target | Pips | ||
| 22 | EU/US | S | 1.2345 | 1.2292 | TBD | +53 | ||
| 9 | SPX | L | 1056 | 1063.3 | 1068 | +12 | ||
| 7 | SPX | S | 1071 | 1106 | 1050 | +21 | ||
| 1 | EU/US | L | 1.224 | 1.215 | 1.265 | -90 |
| May | Unit | L/S | Entry | Stop | Target | Pips | ||
| 26 | US/CH | S | 1.158 | 1.165 | TBD | -70 | ||
| 25 | EU/US | L | 1.2275 | 1.226 | 1.28 | -15 | ||
| 21 | EU/US | L | 1.232 | 1.246 | 1.273 | +235 | ||
| 13 | US/JP | S | 93.50 | 90.96 | 82.00 | +254 | ||
| 12 | AU/JP | S | 83.5 | 84 | TBD | +60 | ||
| 11 | EU/US | S | 1.299 | 1.31 | 1.20 | +230 | ||
| 6 | SPX | S | 1160 | 1205 | 1150 | +10 |
| Apr | Unit | L/S | Entry | Stop | Target | Pips | ||
| 29 | NZ/US | S | 0.73 | 0.715 | TBD | +400 | ||
| 23 | AU/US | L | 0.922 | 0.929 | TBD | +70 | ||
| 21 | EU/GB | L | 0.871 | 0.86 | TBD | -110 | ||
| 16 | AU/JP | S | 0.854 | 0.86 | 0.84 | +140 | ||
| 15 | US/CA | L | 0.997 | 1.006 | 1.035 | +90 | ||
| 13 | AU/US | S | 0.930 | 0.9285 | 0.901 | +15 | ||
| 12 | EU/US | S | 1.366 | 1.365 | TBD | +50 | ||
| 10 | EU/US | S | 1.345 | 1.35 | TBD | -50 | ||
| 10 | US/JP | L | 93.20 | 93.315 | 95.50 | +11 | ||
| 9 | US/CA | L | 1.003 | 1.004 | 1.03 | +30 | ||
| 2 | US/JP | S | 94.40 | 95.50 | 92.70 | +100 |
| Mar | Unit | L/S | Entry | Stop | Target | Pips | ||
| 31 | GB/JP | S | 143.50 | 145.50 | 110 | +50 | ||
| 26 | AU/JP | S | 85.45 | 86.25 | TBD | -80 | ||
| 24 | EU/JP | S | 122.65 | 123.20 | 119.80 | -50 | ||
| 18 | CA/JP | S | 89.70 | 88.90 | 83.2 | +80 | ||
| 17 | CA/JP | S | 89.50 | 90.60 | TBD | +30 | ||
| 17 | EU/GB | S | 0.905 | 0.9075 | 0.8980 | +70 | ||
| 11 | GB/US | S | 1.5105 | 1.52 | TBD | -40 | ||
| 8 | US/JP | L | 89.80 | 89.25 | 90.40 | +60 | ||
| 3 | EU/US | S | 1.365 | 1.372 | TBD | -70 | ||
| 2 | EU/US | S | 1.357 | 1.36 | 1.339 | -30 | ||
| 2 | EU/US | L | 1.349 | 1.344 | 1.356 | +70 | ||
| 1 | EU/GB | L | 1.3595 | 1.3575 | TBD | -20 | ||
| 1 | GB/EU | L | 1.4965 | 1.49 | TBD | -65 | ||
| 1 | EU/US | S | 1.3650 | 1.3685 | 1.3595 | +55 |
| Feb | Unit | L/S | Entry | Stop | Target | Pips | ||
| 27 | EU/US | S | 1.366 | 1.372 | 1.3595 | +65 | ||
| 27 | EU/US | L | 1.357 | 1.355 | 1.366 | +90 | ||
| 26 | EU/GB | S | 0.89 | 0.915 | TBD | -250 | ||
| 25 | US/CA | L | 1.055 | 1.052 | 1.065 | +100 | ||
| 23 | AU/US | S | 0.902 | 0.907 | 0.888 | +140 | ||
| 23 | AU/US | L | 0.901 | 0.904 | 0.9125 | +30 | ||
| 21 | EU/GB | S | 0.881 | 0.886 | 0.858 | -50 | ||
| 15 | Gold | S | 1100 | 1125 | TBD | -25 | ||
| 12 | US/JP | S | 90.30 | 91.30 | 87.50 | -100 | ||
| 10 | AU/JP | S | 77.95 | 81.5 | TBD | -355 | ||
| 9 | US/CA | L | 1.071 | 1.025 | TBD | -460 | ||
| 9 | Gold | L | 1066 | 1062 | 1075 | +9 | ||
| 8 | US/CA | S | 1.071 | 1.077 | 1.055 | -60 | ||
| 8 | GB/JP | S | 139.5 | 143 | TBD | -350 | ||
| 8 | EU/GB | S | 0.8775 | 0.8855 | 0.868 | +95 | ||
| 8 | Gold | S | 1075 | 1125 | 1060 | +15 | ||
| 8 | EU/US | L | 1.364 | 1.3685 | 1.3755 | +91 | ||
| 5 | US/JP | S | 90.30 | 90.10 | 88.3 | +20 | ||
| Jan | Unit | L/S | Entry | Stop | Target | Pips | ||
| 29 | EU/GB | L | 0.865 | 0.869 | 0.873 | +80 | ||
| 29 | US/JP | L | 89.7 | 89.20 | 90.45 | +75 | ||
| 25 | US/JP | L | 90 | 89.20 | 90.45 | +45 | ||
| 22 | US/JP | L | 90.15 | 90.15 | TBD | S/O | ||
| 22 | AU/US | S | 0.9135 | 0.918 | 0.903 | +105 | ||
| 21 | US/JP | S | 91.80 | 92.50 | 90.2 | +160 | ||
| 21 | US/JP | L | 91 | 90.3 | 91.8 | +80 | ||
| 19 | AU/US | S | 0.925 | 0.933 | 0.91 | +150 | ||
| 19 | Gold | S | 1138 | 1147 | 1104 | +34 | ||
| 16 | EU/GB | S | 0.887 | 0.903 | TBD | Exp | ||
| 14 | EU/US | S | 1.454 | 1.4447 | TBD | +93 | ||
| 07 | US/JP | S | 93.65 | 93.35 | 92.95 | +30 | ||
| 05 | US/JP | S | 92.5 | 92.5 | 90 | S/O | ||
| 04 | EU/US | S | 1.445 | 1.4485 | 1.41 | -35 | ||
| 04 | AU/US | S | 0.91 | 0.92 | 0.85 | -100 |
N.B. Several people have questioned me about my terrible performance in February. Those losses were due to lack of money management skills, not bad analysis. See my early March postings for a more details about those problems, and what I have been doing to fix them.
Jared,
ReplyDeleteFrom my graph (only counting standard after market, no overnight) I see a slighly different count on the extended 5th wave between B to C; and with ii as a sideways flat between 2 (green) and 1 (black), but for the purpose of analysis it doesnt change much. I agree also on the maximum potential on the 1160 zone for the Minor degree W2.
@federicolois