Recent examples
This page contains recent examples using the new MTPredictor v6.0, from the developer, Steve Griffiths
Click on the charts to enlarge
High on the US Dow Jones, 60min chart 06 Nov 08
After the low on the Nasdaq, see entry below, the 60min Dow, only a few days later, is painting a very different picture
As you can see from the chart on the left (click on the chart to enlarge), the rally off the Wave C low reached the DP from the Wave B high. This is the first place where minor resistance should be anticipated.
As such it does look as if weakness is coming into the market here, so what does that mean for the Daily Analysis from the post below ? Well, it means that the rally is not strong, and as such we should be prepared for further declines from this level....
Low on the US Nasdaq , daily chart 04 Nov 08
With recent sharp falls in stock markets and the US election looming, everybody is asking whether we have made a low in the US stock market
Well, the answer could be on a Daily Chart of the Nasdaq.
If you click on the chart to the left (to enlarge) you can see how the Elliott Wave Module in MTPredictor v6.0 found a potential Wave 5 low on Oct 24. The question now is whether the rally can continue up from this low ?
Big decline in Gold, daily chart 18 Aug 08
Here is a reminder for Futures traders, that it is always a good idea to perform some additional "advanced" analysis on your charts, to find trade opportunities beyond just the automatic set-ups.
A great example is on Gold.
If you look at the chart, can you see how there was standard stochastic divergence going into the Jul 15 high? And the rally into this high was automatically found as a minor degree 5-wave rally (using the Elliott wave module in MTP v6.0), with the high reversing at the Typical Wave 5 WPT.
So this combination signalled that a top was unfolding and a new short trade should be considered. As you can see, this got you short as Gold started to decline sharply over the last few weeks.
Manual DP Sell on the mini-Dow (YM), 3min chart 24 June 08
In this example, I used the manual DP from the prior high to project in advance where possible resistance may unfold. As you can see from the chart (click on the thumbnail image to enlarge), the YM rallied into this DP resistance zone, where a red (sell) bar unfolded. This was the cue for a new short trade. All of this unfolded with STF indicator divergence.
The target for the trade was the opposing DP level taken form the inbetween swing low.
This nailed the exact high of the day and (more importantly) resulted in a very profitable trade of +4.2R.
Note: I used ASCII 3min data exported from eSignal® into the EOD version of MTPredictor v6.0
Strong rally in (Jul 08) Corn
In this example, I used the manual DP from a prior low to project in advance where possible support may unfold. As you can see from the chart (click on the thumbnail image to enlarge), Corn declined into this support zone on 29 May 08, but the most important point was how the decline unfolded.
This decline took the form of a 3-swing ABC (a corrective pattern). So, when support came in at both the minimum Wave C WPT and the DP projected earlier, this was a strong sign that a low was unfolding.
Combine this with the strong seasonal tendency for Grains to rally at this time of the year, and you have a good low risk buying opportunity...this nailed the May 19 low perfectly before Corn made a strong rally !
Wave 5 high on the US S&P500 Index, daily chart
In this example, I used the Elliott Wave module to identify the Wave 5 high on 19 May 08 in the index. However, it was not the Elliott 5-wave count that made this special...it was the way the high unfolded right at the minimum Wave 5 WPT, with a red (sell) bar nailing the actual day of the May 19 high !
In this way, it enabled you to nail the very high from which a significant decline has since unfolded.
Keep checking this page for new examples!
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Trade at your own risk. The information provided here is of the nature of a general comment only and neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. You should seek appropriate advice from your broker, or licensed investment advisor, before taking any action. Past performance does not guarantee future results. Simulated performance results contain inherent limitations. Unlike actual performance records the results may under or over compensate for such factors such as lack of liquidity. No representation is being made that any account will or is likely to achieve profits or losses to those shown. By purchasing the MTPredictor program, you acknowledge and accept that all trading decisions are your own sole responsibility, and MTPredictor Ltd, MTPredictor.com or anybody associated with MTPredictor Ltd including S. E. Griffiths and A. P. Beckwith cannot be held responsible for any losses that are incurred as a result.
All trades shown on this web site are hypothetical, they were not executed. There are just shown for illustration and training purposes only.
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