Perfect Wave - 2010-11

[snowrider]

I am starting a new thread for November 2010, by consolidating Euro, gold, and SP in one single thread. My wave counts last month can be found from:
EUR:
http://www.trade2win.com/boards/forex-news-analysis/104382-perfect-wave-euro-2010-10-a.html
Gold:
http://www.trade2win.com/boards/metals/104388-perfect-wave-gold-2010-10-a.html
SP:
http://www.trade2win.com/boards/us-indices/104386-perfect-wave-sp-2010-10-a.html

For the past long term view, please see:
EUR:
http://www.trade2win.com/boards/forex-news-analysis/99186-euro-wave-count.html
Gold:
http://www.trade2win.com/boards/metals/98626-gold-wave-count.html
SP:
http://www.trade2win.com/boards/us-indices/99196-sp-wave-count.html

Elliott Wave reference can be found from:
http://en.wikipedia.org/wiki/Elliott_wave_principle

My labeling for wave degrees in different time frames:
Monthly – [[]], [[[II]]], [[[III]]], [[[IV]]], [[[V]]], [[[A]]], [[]], [[[C]]]
Monthly – [], [[II]], [[III]], [[IV]], [[V]], [[A]], [], [[C]]
Weekly – , [II], [III], [IV], [V], [A], , [C]
Weekly – I, II, III, IV, V, A, B, C
Daily – 1, 2, 3, 4, 5, a, b, c
Daily – _1, _2, _3, _4, _5, _a, _b, _c
Hourly – __1, __2, __3, __4, __5, __a, __b, __c

 

[snowrider]

Long Term Wave Counts

Gold Monthly

 

[snowrider]

Long Term Wave Counts

EUR Weekly

 

[snowrider]

Long Term Wave Counts

SP Monthly

 

[snowrider]

Daily

Gold

 

[snowrider]

Daily

Sp

 

[snowrider]

Daily

Eur

 

[snowrider]

11/03/2010 (Gold Update)

Gold was at crossroad the past two days hesitating where to go next (see the daily chart for the preferred and alternative counts). It turned to south today, so the alternative count became the preferred one.

 

[snowrider]

11/04/2010 (Gold Update)

The low of 11/03/2010 was actually a wave-_e of the symmetrical triangle wave-d. The breaking out of a triangle should be explosive, and today gold market was like that. Now I assume that gold is in the progress of wave-e and is moving toward $1,440 final destination (see monthly wave count).

 

[snowrider]

11/06/2010

Comments are welcome!

 

[snowrider]

11/09/2010 (Gold Update)

The high of 11/09/2010 formed the wave-_c of wave-e. Gold has been moving up in zig-zag format from 10/22's low with each fractal in abc pattern. It is possible that the bull will end after wave-C.e._e complete at around $1,440.

 

[dealer911]

Fundementals still pretty strong on Gold but with it beng such an over-crowded trade it is vulnerable to some sharp pull backs like we saw today - It'll be interesting to see how it behaves if it hits the 1365 support level!

 

[Trader_Matt]

Hi, I have a different count on the S&P than you do, here is the link http://www.abusinesswithtrading.com/emini-futures-trading-analysis-friday-111210/


Thanks

 

[snowrider]

Fundementals still pretty strong on Gold but with it beng such an over-crowded trade it is vulnerable to some sharp pull backs like we saw today - It'll be interesting to see how it behaves if it hits the 1365 support level!

dealer911 - Thanks for sharing. GCZ10 fell sharply and broke $1366 support in the intraday trading. I am not sure if gold's bull run has ended on Thursday. However, I am betting that another surge will occur next week.

 

[snowrider]

Hi, I have a different count on the S&P than you do, here is the link http://www.abusinesswithtrading.com/emini-futures-trading-analysis-friday-111210/


Thanks

Trader_Matt - Thanks for sharing. Your wave count is a valid one. In that scenario, SP bull would still have a long way to go to complete the wave-iii.

 

[snowrider]

11/12/2010 (Gold Update)

Has the wave-_e ended? Maybe and maybe not. If the wave-_e has completed on Thursday (11/11/2010), gold is into a long term bear market. However, it's more likely that gold has just completed the wave-_d (in abc mode). If so, wave-_e will bring gold a surge back to another all time high. In this scenario, $1,440 is the final target.

 

[snowrider]

11/13/2010

Comments are welcome!

 

[Trader_Matt]

Hey, snowrider. Here is my updated count for the S&P futures http://www.abusinesswithtrading.com/emini-futures-trading-analysis-monday-111510/

 

[snowrider]

Hey, snowrider. Here is my updated count for the S&P futures http://www.abusinesswithtrading.com/emini-futures-trading-analysis-monday-111510/

Matt - Thanks for sharing. With your count, wave-C.3 has completed, and now SP is in wave-C.4, which is in the similar corrective mode as my alternate count. With that scenario, your wave-4 (or my wave-d) could move in parallel with previous corrective wave and go as deep to 1130 neckline to get support.

 

[snowrider]

11/20/2010

Comments are welcome!