Thursday, February 24, 2011
Thursday, February 17, 2011
Here's a daily chart of AUD/USD. I believe it's finishing a 4th wave triangle and I will be buying for longer-term on short-term weakness. I have buy orders in at 1.00100 and .99950 which are the 50 and 61.8% retraces of the last move up on a 15m chart. Good luck!
Posted by James Genosky at 6:04 AM
Sunday, February 13, 2011
I was working on my R2K count this morning and came up with an upside target around 845. I will fully unload short positions at that area if the waves are telling me to do so. Looks like we should see some weakness for wave iv of 5 before the final thrust higher in v of 5 of i of 3. I don't expect the pullback to be overwhelmingly strong since we are in a wave 3 up so I'll watch the waves to exit this position. Here's the chart I was working on.
Posted by James Genosky at 7:56 AM
Saturday, February 12, 2011
I have us in the final up move of i of 3 up. Looking at the hourly chart I only see 2 options with limited upside in the near term. I think the market will probably top on Thursday, February 17th then make a final low in June before the DJIA and SP-500 go up to challenge the all-time highs. Here is the hourly chart:
Posted by James Genosky at 7:36 AM