The elliott wave principle applied in real time and to all markets.
Friday, December 6, 2013
Elliott wave analysis of USD/ZAR - Is a top nearby?
As I said a break above 10,4588 would change my Count. I'm still looking for a wave D high, but under the new Count we should see a move closer to the 10,5900 - 10,6000 zone before the high is in place.
As can be seen on the weekly chart we have a massive bearish divergence Building and that does indicate, that the upside potential is limited. However to confirm that the top is in place we need a break below 10,29998 and more importantly a break below 10,2573.
I'm a keen Elliott wave follower. I do use, what you might call, standard technical analysis too, but my main focus is on the Elliott Wave Principel.
I use it professionaly as well as in my private affairs. To give you an example I sold my house in late 2005 and are currently renting a flat, not expecting to reenter the property market before 2012-2013.
I'm very much into long term seasonal cycles and demography too.
Waiver: I will not accept any responsability for any loss of funds because of any investmenst done on the basis of my analysis. The analysis herein are done with the utmost due dilligence, but can from time to time be wrong and point you in the wrong direction.
You are always wellcome to pop me a qustion or comment on my work and I will try to answer your question, but might not allways have the time to do everything.
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