Crude Oil forecast as of 09/29/2009

QMX9 – Although market moved down, it did not breach our magical 65.00 level and Elliott is still showing that market is in the process of “Zig-Zag” (ZZ) 3rd wave in the range of 73.29 – 102.46 between August 10th and October 6th.

If the market breaks 65.00 and continues down below 60.00, then we know that new wave down has started.

QMContinues_090929_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Gold forecast as of 09/29/2009

Gold –  Market moved below 1000 and Elliott shows that “Zig-Zag”(ZZ) up is finished and move down has started. Based on current chart, market is in the process of “Flat” (FL) 2nd wave in the  range of  882.55 – 939.15 between  October 27th and December 18th.

Market move above recent highs will not necessarily invalidate this combination.

GOLD5_090929_Blog

Flat is a three wave pattern, where 1st and 2nd wave are corrective in nature and 3rd, the last wave, impulsive in nature.

British Pound forecast as of 09/29/2009

GBPUSD – No change -  Like last week, Elliott shows that market is in the process of  “Zig-Zag” (ZZ) 2nd wave in the range of 1.5059 – 1.6298 between September 11th and December 30th .

Looking for recent market action, many things can be read out from the chart – That market is already in the likely price and time area; at the same time Elliott shows that the middle wave for the wave down is not even completed its own middle wave, in which case market will move up before moving down to complete the wave down. So in conclusion, market can move up, down, sideways and our current combination would still remain valid.

GBPUSD5_090929_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Euro forecast as of 09/29/2009

EURUSD – Although market turned around and moved considerably down, the move has not been deep enough for Elliott to recognize the end of the wave, hence Elliott is still showing  “Double Zig-Zag” (DZ) 3rd wave in the range of 1.5496 – 1.5909 between September 2nd and October 26th .

Market has quite a bit more to go to reach DZ likely price range but is very much in the “Zig-Zag” 3rd wave likely time and price area. Market move below 1.4000 will mean the up move is over for a while and new longer-term wave down has started.

EURUSD5_090929_Blog

Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.

CL Intraday trading results as of 09/18/09

CLEquityCurve090918

Current profit current DD Max Profit Max DD Pain to Gain
Since 5/31/07 $ 212,580.00 $ 3,320.00 $ 215,900.00 $ 47,550.00 22%
Last week $ 3,540.00 Year to date $ 28,210.00

GBP Intraday trading results as of 09/18/09

GBPEquityCurve090918

Current profit Current DD Max Profit Max DD Pain to Gain
Since 01/03/2006 $ 104,037.50 $ 4,543.75 $ 108,581.25 $ 7,081.25 7%
Last week $ (993.75) Year to date $ 12,712.50

Crude Oil forecast as of 09/22/2009

QMX9 – Market is still in the range and has not broken out but looking closely to the ZZ 3rd wave, it seems that market either needs to start actively moving up or the likely time frame is over soon. Elliott shows that market is in the process of “Zig-Zag” (ZZ) 3rd wave in the range of 73.29 – 102.46 between August 10th and October 6th.

Market move below 65.00 makes it likely that move up has ended.

QMContinues_090922_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Gold forecast as of 09/22/2009

Gold – As market continued moving up Elliott now shows that the “Zig-Zag” 3rd wave is not complete. Market is in its price and time area but has room to move up and time to do so.  ZZ 3rd wave is supposed to complete in the  975.75 – 1040.29 price range between  September 11th and October 28th.

Market move below 1000 makes it likely that ZZ is done and new wave down started.

GOLD5_090922_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

British Pound forecast as of 09/22/2009

GBPUSD – No change -  Like last week, Elliott shows that market is in the process of  “Zig-Zag” (ZZ) 2nd wave in the range of 1.5059 – 1.6298 between September 11th and December 30th .

Looks like the ZZ 2nd wave is “Flat” that is in the process of 2nd wave up which might even move market above recent highs without invalidating the current pattern.

GBPUSD5_090922_Blog

Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.

Euro forecast as of 09/22/2009

EURUSD – With the market continued move up, Elliott is showing  “Double Zig-Zag” (DZ) 3rd wave in the range of 1.5496 – 1.5909 between September 2nd and October 26th .

Market has quite a bit more to go to reach DZ likely price range but is very much in the “Zig-Zag” 3rd wave likely time and price area. Market move below 1.4000 will mean the up move is over for a while and new longer-term wave down has started.

EURUSD5_090922_Blog

Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.

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