EURUSD – Market moved somewhat up again, so 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.
Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.
|
Current profit |
current DD |
Max Profit |
Max DD |
Pain to Gain |
| Since 5/31/07 |
$ 219,720.00 |
$ 400.00 |
$ 220,120.00 |
$ 47,550.00 |
22% |
|
|
|
|
|
|
| Last week |
$ 7,140.00 |
Year to date |
$ 35,350.00 |
|
|
|
Current profit |
Current DD |
Max Profit |
Max DD |
Pain to Gain |
| Since 01/03/2006 |
$ 105,825.00 |
$ 2,756.25 |
$ 108,581.25 |
$ 7,081.25 |
7% |
|
|
|
|
|
|
| Last week |
$ 1,787.50 |
Year to date |
$ 14,500.00 |
|
|
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.
Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.
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.
Flat is a three wave pattern, where 1st and 2nd wave are corrective in nature and 3rd, the last wave, impulsive in nature.
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.
Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.
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.
Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.
|
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 |
|
|
|
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 |
|
|
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.
Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.
October 6, 2009 10:08 pm | 
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