yes, this is long term.
from april 2008 to spring of 2009, move up, as count 1
from 2009 into spring of 2011 , move down ABC into count 2
from 2011, up into 2016, move up 12345 gives us count 3
from 2016 until jan 2021, ABC, gives us count 4,
will we get a move up to count 5?
this goes contrary to my expectations that the dollar would decline in the biden years.
any of you ewavers have different thoughts about this count?
if we just finished count 4, then the buck should head higher. the buck and gold normally go opposite.
Thanks much bear!
Personally, I don't find Elliot Waves useful or predictive but it is interesting and I don't know everything:
https://www.investopedia.com/articles/technical/111401.asp
Looks to me, after a search for information on ewaves, that almost every link about it is a site trying to sell you something.
This is NOT one of them:
https://en.wikipedia.org/wiki/Elliott_wave_principle
The Elliott wave principle is a form of technical analysis that finance traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective factors. Ralph Nelson Elliott (1871–1948), a professional accountant, discovered the underlying social principles and developed the analytical tools in the 1930s. He proposed that market prices unfold in specific patterns, which practitioners today call Elliott waves, or simply waves. Elliott published his theory of market behavior in the book The Wave Principle in 1938, summarized it in a series of articles in Financial World magazine in 1939, and covered it most comprehensively in his final major work, Nature's Laws: The Secret of the Universe in 1946. Elliott stated that "because man is subject to rhythmical procedure, calculations having to do with his activities can be projected far into the future with a justification and certainty heretofore unattainable."[1] The empirical validity of the Elliott wave principle remains the subject of debate.
I should add that bear has never tried to sell us anything and is not trying to now.
He just generously gives us some good personal thoughts/opinions about various markets that he follows, including this one.
While I agree that the USD can go up from here, I am also expecting Gold & Silver to go up with it. Cheers
I am not a chart person but I could see the dollar going up
Currently the long bond is going lower which means higher int rates.
The question then becomes, will the Fed intervene in the bond market
Will foreign money buy bonds?/
If not then the market is pricing higher int rates which should support the dollar
Now it is possible that the Fed will intervene butat a higher int rate and on the long bond
After all the 30 yr is a long time from now and short term would seem to attract more attention from the Fed
If the short term does not attract too much attention, when the Fed would likely attempt to rein in short term int rate increases then the longer dated increase in int rates could make sense for a higher dollar
Another supporting factor
One could also assume that post pandemic lock down GDP will increase, a lot, which should support the dollar
I know this may sound like grasping at straws but all things are possible
Not saying I believe all this, as a number of factors could cause the opposite, just trying to give some reason for a higher dollar
I don't know the answer to this but has Elliot wave been correct more often than not
Just a question and the reason for my question
There is the idea that going with the odds will pay but I have had some great gambling [Las Vegas type odds making systems]] or schemes which rely on the odds. When ever I put the system to the test, the odds fail me and I lose my money. Just my experience with sure fire odds that never seem to work