Charts of USD Dollar Index shows a Basic 5 wave elliot corrective structure ending with strong Positive momentum
Divergence which is clearly visible in MACD as the index is making lower values MACD trend to move higher.
Possibly the shorter term trend could change followed by lower crude,gold and stock asset prices.
Related Readings and Observations
GANN Speculation for Nifty Continues
Nifty Hourly chart shows GANN Supports around 4570-4580. Failure to bounce back from this level will target the next GANN Support 4000-4050 in shorter term. Source:
www.marketcalls.in
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hello mr .rajendran,i have been visiting your site regularly , u have done a fabulous job , please keep up the good work. i want to know if i could get personal advisory services and if u do wat would be your charges. i am ready even for a profit sharing arrangement, my cell . no is 09845011001 and email id is naveenkumar1977@gmail.com
dear rajandran,thnx a lot fr ur inputs on aban,today it ws vry clear tht 1200 is a resistance zone fr the stock.plz cud u give ur views about satyam n whether is can b bought at these levels, warm regards,rashmi
Hi Naveen,Thanks for your interest in tracking my blog.Iam writing this blog just to share my learnings.Iam not interested in providing any sort of advisory services. My Objective is clear!
Rashmi, Iam not tracking satyam as of now
Hi Rajandran,Look at the dollar index over all it seems to me that we topped lately (double top oct-nov/feb-mar reversal pattern emerged) and at the same time if you see its making a decending traingle(Mar-Aug) moves and broke decade old 80 on index again which suggest to me that there is more selling pressure rather than bottoming process and I see dollar index going back to 67-70 area before any reversal.Whats your thoughts and I think Elliot 5 wave suggest that there should be much deeper correction when compared to wave 3.RegardsSuresh
Hi Suresh ,Suresh Iam not expert with Elliot waves.Just tracking simple and ideal patterns like 5-3,5-3-5 wave patterns. Iam just concerned with the shorter term trend reversal. Iam not interested in predicting a long term. Because most of the time the word "long term" behave almost equal to the word "Useless"
RajandranI feel still the 5th wave is on run, but its moving sideways. Though I am not an expert of elliot waves. Anyway, thanx for the GANN details and specially the book. I am seeing u became a GANN fanatic now. This inspired me to study on GANN.Regards,Indrajithttp://www.stockmaniacs.blogspot.com