Gold “ad portas” to revert…

Weekly chart shows a 5 waves move which is @ important Fib resistance Zone. Additionally, price is diverging with Awesome Oscillator.

Below, the 5th wave detail.

EURCHF Follow Up

Here the very Big picture of this pair. Red lines are the same length. Interesting to see the measured move of price action of the bearish swings. What we se here is a Complex Corrective Pattern.

Below, detailed view of the last part of the pattern.

USDCOP: Elliott Wave Counting

Desde Mayo de 2010, el par se ha venido moviendo en 4 ondas claramente identificables. El movimiento lateral que el par experimenta desde Agosto 15 de este año referenciado como la Onda No. 4, era previsible dado el nivel de congestión que se dio entre Julio y Agosto de 2008; dicho movimiento es un triangulo descendente (corrección), y debe ser seguido por una onda de tipo impulsivo No. 5 Es importante notar que el par se esta transando por debajo de 1.819, mínimo de Octubre 12 de 1009 (resaltado con la línea horizontal verde), lo cual refuerza la validez del conteo.

En un plano mas amplio, podemos observar en líneas horizontales azules los posibles los posibles niveles de terminación de ambas Ondas No. 5 (la del movimiento desde Mayo de este año y la del movimiento total desde Marzo de 2009).

EURCHF: Possible Multi-Month bottom

My Elliott Wave counting gives me 3 levels of 5th wave yet completed in W1, D1, and H4 respectively. Is important to note that Bullish divergence is present between W3 and W5 extremes in each of the mentioned Time Frames. This could be a multi-month bottom which could lead prices up to 1.4366 level in about 10-20 months.

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EURUSD Bearish scenario

Today`s Bullish movement put H&S scenario in troubles. If price stays below corrective WA`s  w4 level (1.2920) H&S scenario is still valid.  I think bearish scenario (with or without H&S) is still alive. The whole move from 1.3333 high to 1.2586 low, could be considered as an impulsive wave within bigger bearish corrective scenario. Having said that, move from 1.2586 low to today`s high, could be considered part, if not all WB of the bigger bearish corrective scenario already mentioned. Fibonacci Price and Time retracements applied to the bullish impulsive move from 1.1876 low on Jun 07 to 1.3333 high on  Ago. 06, give us a projection for WC @ 1.2405 level.

A more detailed view of actual price action is showed below. Fibonacci Price and Time Retracements, as well as Fibonacci Expansion, gives us as possible WB level @ 1.2870 – 1.2938 area, if not is yet finished.