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Saturday, December 5, 2009

Big Picture

This is the bigger picture, with-out the counts clouding up the chart that was inspired from some reading I did last night in EWP about topping patterns and volume. Specifically about throw overs of the trendlines that are accompanied by a spike of heavy buy volume.
With the indicators still trending negatively, and diverging we know a top is approaching, but now we have one more piece of a topping action, a spike in volume. The only thing we are now missing is that throwover of the trend, and the way Friday played out with all the craziness it would not surprise me to have that throwover very soon.
The Dollar is very close to confirming that at least a short term bottom was put in, and the markets are very disconnected with themselves, all signs that things are possible at a major turning point.
Sunday morning I am planning a massive chart dump!!


  1. you don't think the friday am action constitutes a throwover? it did violate some trendlines

  2. Hi Col

    Hope you don't mind but wanted to comment on your dollar count. I posted the same thought on Binve's blog earlier and wanted to give you my thoughts and see what you think.

    First I don't know if you know about skewed triangles for forex or not yet. I first learned about them a week ago and they were added to the forex triangle family back in 2006. I will post a link to the Skewed Triangle PDF from EWI later.

    If you look at my count you will see that I were you have your sub iii...I have my Intermediate 3...This gives wave 3 a 161.8% extention of wave 1 and wave v of 3 is 61.8% of i - iii of 3.

    If you look at your wave iv it is 169 pips long and your wave 4 is 172 pips long. Your black 3 ( Not sure of your labeling so will use colors : )) is 260 pips down and you blue 5 is 263 pips down. The equality of these waves make it hard to believe they are not all part of the same wave. If you read the PDF you will see that this is the perfect skewed triangle in a wave 4 position.

    Take a look and see what you think...

    Here is a link to my blog with my0 Dollar count:

    Can't copy and paste here so I posted the link to the Skewed Triangles PDF on my blog.

    Have a great day...


  3. Also a broadening top in the 10 min chart in the last 15 days.