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Technical Analysis of Silver Wheaton Corp. (ticker: SLW) by Sid from ElliottWavePredictions.com

 Gold, Individual Stocks, Miners, Silver  Comments Off on Technical Analysis of Silver Wheaton Corp. (ticker: SLW) by Sid from ElliottWavePredictions.com
Dec 052014
 

Technical Analysis of Silver Wheaton Corp. (ticker: SLW) by Sid from ElliottWavePredictions.com.

Silver Wheaton (SLW) is showing clear signs that it’ll be producing a 5-wave, non-overlapping Elliott Wave impulse to the upside from its November  11 low.  The 60-minute chart really tells the tale, as an almost unmistakeable wave 4 (pink) triangle is forming.  The charts speak for themselves.

Also significant is the fact that Sentient Trader software, which produces a full Hurst cycle analysis of any chart in just seconds, is labeling the early November low as an 18-month cycle trough.  This doesn’t mean that all miners have bottomed yet, but of the ones that haven’t, they are very likely to do so as SLW puts in its blue wave 2 (shown on the 60-minute chart) after 5-waves up are complete for blue wave 1.

Please join me for my weekly “Counts” webinar, where I spend a full 2.5 hours going over all of my Elliott Wave Counts and associated Fibonacci price targets for many of the world’s major stock markets, commodities, currencies, and bonds.  Hurst Cycle analysis is always considered.  A recording is made available to all subscribers afterwards, whether in attendance “live” or not.

SLW weekly 12-5-14

SLW daily 12-5-14

SLW 240m 12-5-14

SLW 60m 12-5-14

Once again, please join me for my weekly “Counts” webinar, where I spend a full 2.5 hours going over all of my Elliott Wave Counts and associated Fibonacci price targets for many of the world’s major stock markets, commodities, currencies, and bonds. Hurst Cycle analysis is always considered. A recording is made available to all subscribers afterwards, whether in attendance “live” or not.  For those looking for a “quick glance” service, featuring multi-timeframe screenshots of my projections for the SPX, DAX, Gold, Oil, Bonds (TLT), US$ (DX), and Euro (EUR/USD), see my EWP ScreenShots service.  EWP Screenshots subscribers receive access to screenshots on Sundays and again on Wednesdays.

Additionally, my subscription service associated with ElevenQuarterStocks.com is keenly interested in mining stocks at this time. All subscribers to that service receive access to a large number of individual stock charts labeled with my combination of Elliott and Hurst, as well as access to a recording of my most recent monthly Eleven-Quarter Stocks webinar, where I go over a large number of beaten down stocks, including many miners.

NEW!  I can now accept payment for annual subscriptions from money managers who want to utilize their accumulated broker “Soft Dollars“.  If you are a professional money manager with “Soft Dollars” available from your broker, and would like to use them to gain regular access to my work, contact me.  Thanks . .

Sid
http://elliottwavepre.wpengine.com
http://ElevenQuarterStocks.com

Elliott Wave Analysis of the EUR/USD Currency Pair by Sid from ElliottWavePredictions.com

 EUR/USD  Comments Off on Elliott Wave Analysis of the EUR/USD Currency Pair by Sid from ElliottWavePredictions.com
Feb 122014
 

EURUSD weekly 2-12-14 new idea

Elliott Wave Analysis of the EUR/USD Currency Pair by Sid from ElliottWavePredictions.com.  Click on the chart twice to enlarge.

The “Teflon Euro” has stayed amazingly resilient for a full year now after the initial calls for the end of a multi-year triangle emerged in February 2013.  The above wave count shows that the Euro may have one more trick up its sleeve before finally succumbing to the likely downward thrust from that triangle.

Some  have given up on the triangle idea altogether, and others are looking for an eventual upward thrust from the over 5-year old triangle.  Of all of the interpretations, I still think that wave E of the triangle is either complete, (ending at the late December 1.3893 high), or, as this chart depicts, has yet to finish, with one more spectacular stop-hunt left in the tank as a diabolical parting gift for all the eager Euro bears.

The best reason for the existence of the wave count shown above is that wave D (black) of the triangle was “complex”.  It was a WXY double zigzag.  According to the blue book (Frost & Prechter), only one leg of a triangle can be “complex”, and if it is, its likely to be a double zigzag. Also, according to the book, the most likely leg of a triangle to be complex is the “D” wave.  The fact that the D wave (as labeled) is “complex” supports the expectation that when this 5+year-long triangle finally does conclude, the resulting large terminal thrust will be to the downside.

Also, since wave D (black) was complex, and only one leg of a triangle is allowed to be complex, wave E must be a standard (blue) ABC zigzag, subdividing 5-3-5.  This has been difficult for me to accept because the blue wave A (within black wave E) looks very much like a “three”, and the pink wave 4 within the blue wave C (underway now?) appears, upon first glance, to have potentially overlapped into the price territory of wave 1 (pink).  So admittedly, the forcing of the labels into the shown positions has been somewhat sickening, but there may be a development underway now that supports this count:  Wave 4 pink may be carving out a triangle.

This would be a very fitting ending scenario for the 5+year-old triangle, as the next fairly large move to occur would be a (pink 5) terminal thrust to the upside, taking out a metric butt-ton of stops. THEN, the much larger thrust to the downside would ensue. Traders would be ripped to shreds in both directions. Ultimately, this is what the “market” lives for: taking out stops . . and as many and as often as possible.

One last bit of supporting technical evidence for the above wave count is that it would allow Burgundy (Primary) wave “B” to retrace Burgundy wave “A” into the very most typical .5 to .618 Fibonacci retracement area (1.4173 – 14609).

I’m not saying this is my main count yet, but the price action in the British Pound, the Euro, the Swiss Franc, and the US$ Index in the past twenty-four hours is certainly suggesting it.  The next few days will be very important.  Any movement below 1.3205, and the pink 4 triangle idea is invalidated.  On the other hand, any movement above 1.3893, and obviously, the 5+year-old triangle isn’t over yet, and if the character of the upward movement is quite aggressive, the count shown here will become my main.

Sid

http://elliottwavepre.wpengine.com

Elliott Wave Analysis of Oil (QM futures contract) by Sid from ElliottWavePredictions.com

 Crude Oil  Comments Off on Elliott Wave Analysis of Oil (QM futures contract) by Sid from ElliottWavePredictions.com
Sep 182013
 

Oil QM daily 9-18-13

Elliott Wave Analysis of Oil (QM futures contract) by Sid from ElliottWavePredictions.com. Click on the Chart twice to enlarge.

Oil may have just finished a blue wave 4 triangle, and if it did, Oil will be shooting to the upside aggressively for probably the next couple of weeks at least. If an upward thrust from a triangle is underway, it has logically coincided with US$ weakness over the last couple of hours (leading into the FOMC announcement, due in about fifteen minutes), so if the size of the triangle is an indicator of the size of the thrust, and it usually is, the U.S. Dollar may continue to weaken until this last hoorah runs its course. The reason I say “last hoorah” is because thrusts from triangles are terminal, meaning they mark the final move of larger patterns.

Ultimately, a large spike in oil could easily deal a crushing blow to the already weak economy, so if the upward thrust moves as high as the target zone shown on the chart, it will likely act as the only trump card left that could defeat the fed’s printing press.

Sid
http://elliottwavepre.wpengine.com

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