Examples of some of our BIG CALLS!
Last nights wave count called for a decline in wave ‘c’
With the initial target set at 21436.
The DOW tumbled 200 points today and reached a low of 21465.
On the 6th of June I published a piece called USDJPY on the verge of another big move.
At that time, the Elliott wave count was calling for another big rally in wave [iii] grey.
After this post was published, the DOW has rocketed higher, Showing that the Elliott wave perspective will reveal opportunity in the markets.
Also the wave count in GOLD revealed a turning point under way which would develop into a huge rally!
The technical situation has brightened somewhat over the last few days.
The 4hr RSI is on the verge of a buy signal, in the form of a centreline cross to the upside.
All the little signs are falling into place right now.
The Elliott wave count was clear, a large rally was about to occur in USDJPY, and the world was oblivious to it.
This is also the level projected for wave ‘c’ brown by the 161.8% extension of wave ‘a’ brown
So lets see if we get a complete five waves up off that low.
It could prove to be the low we have been waiting for.
The 1.0950 level looks like an interesting reversal point for wave ‘ii’ pink.
For now, I am watching the development of the action off the high.
Further declines will add weight to the bearish setup.
If we get a tag of the upper trend line and an impulsive looking decline in five waves,
That will put the last nail in the coffin of this rally.
On the 19th of April I wrote that USDJPY was nearing a very significant low
The price stood at 1.0880, and I was firmly bullish on the Dollar.
Tonight the price stands 400 points higher and nearing the end of the first phase of this new bull run.
There is another alternate high for wave (i) blue which would allow for a break of that low.
But it is wait and see time right now.
Tomorrows action might clear things up slightly.