Updates

Here are the two updates on the Euro and Gold, to follow up on the charts i posted recently.. The Euro hit 1.3232, and started a strong decline, which i reckon will end around 1.3043, before we see one possible final rally higher. As for gold, 1739 was in fact exactly the high, which had a $25 decline today morning, followed by a good recovery. I reckon we are close to a massive decline on gold, maybe later in the week. Possibility here still for one more higher high around 1749, so be careful with your shorts...

Are you ready?

Swing Play- with confidence this time

in my last 2 posts, i was looking to short Euro and Gold, but both rallied higher than my target and my stops were hit. When i started this blog, i wanted to show that markets were not random.. I still think that way. When i see losses or when my stops are hit, the reason is simply that my analysis was not correct. Its ok to make mistakes, but important to realize you're wrong early and Exit with minimal damage.  Thats the main element of succeeding. Cutting losses short.  This morning we're being presented with a very good shorting opportunity on the Euro, gold, Gbp and the Aussie... I'll post as few charts, and this time im more confident of the wave count, nevertheless, stops are a must.  Euro:

GBP:

------------------------------------Updating this post quickly.,,,raising my target for the Euro by 10 pips... pretty sure about this.....

GBP - short play

Swing short in motion

                                                                              Euro:

 (update) -----As im writing this, the Euro is at 1.2955.. just 30 pips over my target, but enough for me to know im wrong. Ive adjusted my account, and will wait for 1.2990 should we see it..

   

Gold:

----------------Gold, still waiting for a clear break below 1640..

S&P:

------------SnP stronger than i thought, but i believe will correct tommorow along with other risk classes..