Interesting Chart Patterns To Monitor In Coming Days...

[PRH]

Coffee daily chart

March coffee daily chart - see previous post for comments.
PRH

[hiyall]

PCLN --- wave 4 or leg 1 of a wave A ?

I have added my own opinions as black wave labels. It may be that PCLN is undergoing consolidation and in my wave labelling it appears that 3 consecutive waves have met their price/time targets. If this is true, then watching for a significant move out of the current consolidation could prove interesting.

PS: Is there a way to relabel AG Elliot wave forecast with my own opinion?

It seems I am unable to attach my PCLN Daily chart

Here is my opinion regarding wave count from current price backwards

AG Hiyall
4/C A/1
3 (End of 5th wave down from previous AG wave 5 and C of ABC wave)

I wish I could have attached my chart as this message would have been clearer.

[MR]

NOVL

If you scroll back in this thread far enough you will find an hourly HOVL buy setup chart. Here is an updated daily NOVL....

[MR]

I use to post for the Advanced GET site called "Trader's Outlook" before coming over to eSignalCentral. Here below is a 'captured image' of a previous April '03 Dow Jones Industrial Average Weekly PDF work posted at the Advanced GET User Group, under File Share.

I will post a current Weekly $INDU update after this one.

The purpose of these two posts is to show we are now testing a key resistance area that I identified over a year ago.

People keep calling and asking for INDU updates. I hope this helps. -marc
- - - - - - - - - - -

[MR]

Here is a current Weekly $INDU update.

The purpose of this and the previous post is to show we are now testing a key resistance area
that I identified over a year ago when I also showed charts several times suggesting we should be
watching for buy setups.

People have been calling lately asking for an INDU update. I hope this helps them.

[MR]

Just curious....

[PRH]

March coffee

OK Folks,

It looks like wave 4 in march coffee is now complete after drawing a perfect ABC correction to 50% of the previous large swing.

Since Esignal goofs up on the hourly bars, and omits the last one, I added it in manually with the What If mode.

We are now prepared for another run at the highs, but the enthusiasm for sustained rally is somewhat tempered by a PTI < 35.

The daily chart posted a key reversal up today.

Philippe

[PRH]

March Coffee

March Coffee retraced a second time to the MOB support and bounced off pretty hard. Again the last hourly bar (11-11:30 am CST) is missing.

But the setup is quite clear: We had a nice wave 3, we were stopped out on a break of the trendchannel, Wave 4 then developed in an orderly ABC fashion. Prices tested the MOB twice, ellipses indicated support coinciding in price with a 50% retracement.

Now we expect more upside action, most likely again in some zigzag fashion. Enthusiasm is tempered by PTI of 27...

With judicious use of Adv Get, it was easy to follow the scenario that unfolded. It does not get much better than this folks.

On the daily chart (next post) the XTL Continuation Buy setup is shown (buy stop over todays high), my alltime favorite setup.

We need coffee to start behaving like lumber!

Philippe

[PRH]

XTL Continuation Buy setup potential on the daily chart...

[PRH]

XTL Continuation trade under way.

Caution:

We need to roll out of March Coffee to May Coffee.
First notice day coming up!

PTI = 27 warns for potential for failed wave 5 or double top...

Update in 2 days.

PRH

[PRH]

May Coffee

We are now in May coffee (we were already in and had closed out the March contracts last week).

Nothing special to report: the uptrend is intact. XTL Continuation trade in effect. Stops in place. Sitting and waiting...

Will be gone for a week, so no update until 8 days from now.

Philippe

[PRH]

Coffee - stopped out - went sideways. It became a relatively unattractive setup. Note how the setup went from continuation XTL to type 1 buy - to sideways. It is still possible that we are dealing with a wave 2 after a wave 1 top recently, and that wave 2 is currently in progress...

Nevertheless, one cannot fail to notice that a triangle is in formation and that a breakout to the upside is definitely possible quite soon. Resistance is at red line and support at blue line in the chart.

At this time, in face of unfavorable reward/risk ratio's and lack of clear setups, we are on the sidelines... and focusing on opportunities in other markets, yet ready to pounce.

Trade like a cheetah (animal).

PRH

[MR]

Here is a quick update on the DJ Industrial, Weekly chart. Scroll down several charts to see the previous $INDU Weekly posted over a month ago where I pointed out we were at a key resistance. Looks like price is finally capitulating at the key strong resistance (see comments below). Anticipating more weakness to come....

[fabrizio]

To MY friend and Teacher Marc

Here is a quick update on the DJ Industrial, Weekly chart. Scroll down several charts to see the previous $INDU Weekly posted over a month ago where I pointed out we were at a key resistance. Looks like price is finally capitulating at the key strong resistance (see comments below). Anticipating more weakness to come....

Marc, master: you perfectly pinpointed it. As usually you do since the firts day I knew you. ( remember : I still owe you the huge profit made last year on NG ). I miss your science.

I do not post anymore but for this occasion , Following yours and others type of approaches, I hope you do not mind if I take the liberty of adding mine which was and is totally conform to yours.








Note: Charted the 31st of October 2003


Ciao

Yours Fabrizio

[MR]

Fabrizio!

Your charts sure show a lot of work and thought! Thanks for sharing them. Hope things are well with you.

Best wishes, Marc