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Monday, September 7, 2009

The Battle Ground

A long weekend has allowed troupes to gain positions for the ensuring battle. Will this advance scare the shorts into covering, or will the Bulls feel fortunate to recapture recent losses?

The above count would indicate a possible bullish open before the Bears take control. As of this post there are fourteen hours before the bell. This week should be very interesting.

The Bears must first secure 990 then begin the march on toward 970, and on to (950,-940) and finally 869!

If this battle is lost to the Bulls, and 1053 is breached, 1070 is likely to be the next front.

Divergence in Stochastics, MACD and Volume indicate a trend change.

Bullish percent is still ridiculously high, but coming down.

Good luck,

Analysis presented on this Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling currency contracts.


  1. Hello
    Could You show the count of $usd please?
    Is it close to bottom according to Your opinion?
    Everybody's talking today about dollar collapse, so probably bottom is very close.
    Thank You for Your answer.


  2. Sorry, I only play the EUR/USD in a paper account, and trade very successfully using only Ichimoku, Stochastics and the Williams A/D. I use the Elliott wave only as a very near term count. I've tried to keep the large EW count for the EUR/USD, but I always get lost as it seems the currencies are almost always in a correction.

    I have found that all you really need to day trade the EUR/USD is the Ichimoku and Stochactics. Wait till 1,5,15 and 30 minute Stochactics are over bought/sold and the Ichimoku gives at least a Tenkan-sen/Kijun-sen cross in the 5 minute chart. Actually if the price crosses the five minute Tenkan-sen and you are feeling lucky it often works out.

    I don't go for the long haul. I only snipe a few points unless I see a target.

    I also place my stops very wide, and my take profit close. If it were real money I'd never sleep but being fearless makes me a winner in my paper account.

    I watch the EUR/USD in reference to the SPX, but only to get a notion of where the SPX will go. I often see Elliot Wave patterns in one before I see it in the other.


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