Just a quick note . . my Leading Contracting Diagonal count for the EUR/USD, which had remained in-tact since early January, was invalidated today by a quick 70+ pip spike that occured at 5:20 PM Chicago time, a very odd time of day indeed for this type of price action. So, its back to the drawing board for a preferred and alternate count for the Euro, which I'll post sometime after my webinar this weekend . . Sid
@SidsCharts I'm following your website now, and I'm not an investor but I bought some products a few months ago in dollars and I still have some stock remaining. Due to my lack of technical knowledge, I can't understand the whole situation. Do you expect the dollar to increase or to decrease? Thanks in advance
@SidsCharts hehe, obviously. Maybe I can't ask for it properly cause I'm Spanish. What I'm trying to ask is if you think the dollar will decrease even more, in the USD/EUR scale (or the € will increise in the EUR/USD scale)
Love your videos and I'm so glad I found your site. One thing I want to point out is that you're using the Trade Weighted Dollar Index as a long-term historical chart, which is not the same as the Dollar Index that is traded on the commodity exchanges.
The TWDX was created to better reflect purchasing power. Euro weighting is 57% in the DX and 13% in the TWDX, so they are very different. And all it takes for gold and the DX to rise simultaneously is for gold to be stronger in Euros than $s.
Nevermind, I just realized I made an error. The St. Louis Fed evidently has an odd naming convention and refers to the Dollar Index as the Trade Weighted Major Currency Index, and the Trade Weighted Dollar Index as the Trade Weighted Broad Currency Index...
This video could be very important. One of the most significant in a long time.
If you are correct Sid, this analysis would be a great advertisement for technical analysis. The entire financial community of fundamental analysts believe with all their hearts that the dollar will continue to fall relentlessly. Your analysis (and mine BTW) conclude that a period of dollar strength is imminent. Time will tell.
@nevadaxtube - My line in the sand is 1.46901 in the Euro. If price moves above that, my bearish leading contracting diagonal count is dead, and I'll have to consider that upward movement in the EUR/USD pair since June 2010 is likely impulsive, with waves 1 and 2 complete and wave 3 underway of a Cycle wave C, which will eventually complete a Supercyle Wave Y, with price eventually moving above the all time high of 1.60369. In other words, we should know if I'm right or wrong here real quick!
I don't see how you can use a chart to predict value when you are not counting in the supply issue. Irregularities will be action taken by the central banks to add to the monetary supply.
how do you calculate Gold $1760 Fibonacci? There are many layers and the one I like is the range of 255 and 416 which has upside moves to 515.5, 676.5,, 937.01, 1358.51, 2040.51.
Also the Inv H&S pattern was from 700 to 1000 roughly or a difference of 42.9% and thus a matched move to 1429 which was resistance with a correction through time showing breakout signs. 42.9% on 1429 is $2041 and this might be the next huge long term level with psychological factors with 2,000 even.
@endlessmountain - To see how I figured the fibonacci target of 1760 on Gold, please go back 2 videos before this one. Essentially, 1760 is where Primary wave 5 would equal 1.618 times the distance traveled by Primary wave 3 in the XK contract . .
Hi, Sid. could you tell what programs you use to show your charts. Thanks.
davinci440 10 months ago
Genesis Trade Navigator and FXCM Trading Station II
SidsCharts 10 months ago
Just a quick note . . my Leading Contracting Diagonal count for the EUR/USD, which had remained in-tact since early January, was invalidated today by a quick 70+ pip spike that occured at 5:20 PM Chicago time, a very odd time of day indeed for this type of price action. So, its back to the drawing board for a preferred and alternate count for the Euro, which I'll post sometime after my webinar this weekend . . Sid
SidsCharts 10 months ago
@SidsCharts I'm following your website now, and I'm not an investor but I bought some products a few months ago in dollars and I still have some stock remaining. Due to my lack of technical knowledge, I can't understand the whole situation. Do you expect the dollar to increase or to decrease? Thanks in advance
syaolanli 10 months ago
Please check my website for my latest counts for the Euro, which basically moves inversely to the US Dollar.
SidsCharts 10 months ago
@SidsCharts so inversely means that the dollar will increase compared to the euro?
syaolanli 10 months ago
It just means that when the EUR/USD goes up, generally speaking, the US Dollar Index goes down, and vice versa.
SidsCharts 10 months ago
@SidsCharts hehe, obviously. Maybe I can't ask for it properly cause I'm Spanish. What I'm trying to ask is if you think the dollar will decrease even more, in the USD/EUR scale (or the € will increise in the EUR/USD scale)
syaolanli 10 months ago
Love your videos and I'm so glad I found your site. One thing I want to point out is that you're using the Trade Weighted Dollar Index as a long-term historical chart, which is not the same as the Dollar Index that is traded on the commodity exchanges.
The TWDX was created to better reflect purchasing power. Euro weighting is 57% in the DX and 13% in the TWDX, so they are very different. And all it takes for gold and the DX to rise simultaneously is for gold to be stronger in Euros than $s.
indianolajones 10 months ago
Nevermind, I just realized I made an error. The St. Louis Fed evidently has an odd naming convention and refers to the Dollar Index as the Trade Weighted Major Currency Index, and the Trade Weighted Dollar Index as the Trade Weighted Broad Currency Index...
indianolajones 10 months ago
Tip - set your browser to full screen. View - Full Screen
frank299 10 months ago
@frank299 - . . and change the resolution to 720p . .
SidsCharts 10 months ago
I explained that in the video . .
SidsCharts 10 months ago
in us dollar index there r many mistakes in ew count one of them w4 over lab with w2
me7md 10 months ago
This video could be very important. One of the most significant in a long time.
If you are correct Sid, this analysis would be a great advertisement for technical analysis. The entire financial community of fundamental analysts believe with all their hearts that the dollar will continue to fall relentlessly. Your analysis (and mine BTW) conclude that a period of dollar strength is imminent. Time will tell.
Keep up the interesting work.
nevadaxtube 10 months ago
@nevadaxtube - My line in the sand is 1.46901 in the Euro. If price moves above that, my bearish leading contracting diagonal count is dead, and I'll have to consider that upward movement in the EUR/USD pair since June 2010 is likely impulsive, with waves 1 and 2 complete and wave 3 underway of a Cycle wave C, which will eventually complete a Supercyle Wave Y, with price eventually moving above the all time high of 1.60369. In other words, we should know if I'm right or wrong here real quick!
SidsCharts 10 months ago
I love your videos, really good stuff, thanks.
nja888 10 months ago
Follow the Bob Chapman Wave....
timplot43 10 months ago
I don't see how you can use a chart to predict value when you are not counting in the supply issue. Irregularities will be action taken by the central banks to add to the monetary supply.
Mr7laws 10 months ago
@Mr7laws - it's called technical analysis.
SidsCharts 10 months ago
how do you calculate Gold $1760 Fibonacci? There are many layers and the one I like is the range of 255 and 416 which has upside moves to 515.5, 676.5,, 937.01, 1358.51, 2040.51.
Also the Inv H&S pattern was from 700 to 1000 roughly or a difference of 42.9% and thus a matched move to 1429 which was resistance with a correction through time showing breakout signs. 42.9% on 1429 is $2041 and this might be the next huge long term level with psychological factors with 2,000 even.
endlessmountain 10 months ago
@endlessmountain - To see how I figured the fibonacci target of 1760 on Gold, please go back 2 videos before this one. Essentially, 1760 is where Primary wave 5 would equal 1.618 times the distance traveled by Primary wave 3 in the XK contract . .
SidsCharts 10 months ago