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Better Trader
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We have two ending diagonal patterns in this rally. Ending diagonals are terminal patterns. The rally since the May low is wave v (circle), this is the first ending diagonal in five waves [(i),(ii),(iii),(iv),(v)]. The second ending diagonal is wave (v) in five waves [i,ii,iii,iv,v]. After an ending diagonal a... Continue reading
Posted 9 hours ago at Better Trader
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The decline looks like a crash because the previous advance is massive, what goes up fast goes down fast. You can see on the weekly chart the decline is a simple correction in the bull market. Either the top wave wave 3 or wave 5, I am not sure. If... Continue reading
Posted May 19, 2021 at Better Trader
Last week I talked about the mania and the oncoming correction. Well, it is not easy to time the start of the correction, stock markets could go higher before they turn down because we are in a mania. In a mania rallies take longer than expected to complete. But we... Continue reading
Posted May 6, 2021 at Better Trader
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In the last few weeks we have seen many indicators flashing the same warning, a trend reversal or sharp sell off is imminent. Of course this does not mean the sell off will happen now or tomorrow, sometimes and in particular during a mania, the expected sell off can take... Continue reading
Posted Apr 28, 2021 at Better Trader
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The FTSE 100 reached my target at 7000, the UK index moved above that level, the high so far is 7040. However the structure of the wave is not complete, I now expect the rally to end higher near 7100. This is confirmed by other markets like the DAX. The... Continue reading
Posted Apr 23, 2021 at Better Trader
It is early days but so far the results are impressive: Since December 2020: Number of points gained: +1173 Win ratio: 90% Number of trades: 10 1 loss 9 profits Breakdown per market FTSE 100: +280 S&P 500: +65 10Y T-Note: -13 Gold: +23.5 Carbon Emissions: +525 Silver: 1.5 US... Continue reading
Posted Mar 17, 2021 at Better Trader
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The DAX remains in the same position, at the top of wave iii (circle). The pattern is an ending diagonal [i,ii,iii,iv,v (circle)] and wave iii (circle) is in three waves [(a),(b),(c)]. The chart tells us the DAX will decline to 14050 for wave iv (circle), followed by a rally to... Continue reading
Posted Mar 17, 2021 at Better Trader
The Position trading strategy that I launched in November is not new to me, I have been using it for 15 years. Initially I did not want to offer it to retail traders because the trades don't have a stop loss. Yet it is one of the best strategies. I... Continue reading
Posted Feb 26, 2021 at Better Trader
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The stock market will collapse, there is no doubt, like in 2000 the signs are everywhere. The Fed has created an gigantic bubble in stocks, the question is, when will it pop? We are near the start of the next collapse. You know this will happen when you see a... Continue reading
Posted Feb 19, 2021 at Better Trader
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Silver completed a leading diagonal [1,2,3,4,5] which often occurs in the first wave of a major rally. It is probably the first wave because silver made a new high above 29.8. We are now in the corrective wave in [A,B,C] which is the second wave. Silver decline could end near... Continue reading
Posted Feb 2, 2021 at Better Trader
Elliott wave analysis on Ripple https://youtu.be/YtCA-YiG6HU Continue reading
Posted Jan 30, 2021 at Better Trader
Elliott wave analysis on Bitcoin https://youtu.be/dT_EF8jQAdg Continue reading
Posted Jan 30, 2021 at Better Trader
We are reaching the limit of QE, if you think the bull market will never end because of QE / stimulus, you are mistaken. All is explained in my video. I have created a video in which I explain my view on the stock market, gold, bond yields, dollar and... Continue reading
Posted Jan 27, 2021 at Better Trader
The 34-day BTI became overbought in December but the news has been friendly so the rally extended. The news can distort the pattern but in the end Elliott wave wins and this is confirmed by the fundamentals see https://uk.investing.com/analysis/ftse-100-is-approaching-resistance-200452002 Continue reading
Posted Jan 13, 2021 at Better Trader
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Today I would like to update you on the position of the 34-day BTI. I discussed this indicator last week, it is near an overbought area. Here is the updated chart: The FTSE 100 is at resistance when the 34-day BTI is above 400. Right now the indicator is still... Continue reading
Posted Dec 3, 2020 at Better Trader
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After a sharp move up markets often go sideways before moving higher. Here the sideways move on Bitcoin would be wave (iv) taking the shape of a triangle [a,b,c,d,e]. Bitcoin will rebound for wave b, then it will go sideways until there are five waves inside wave (iv). The next... Continue reading
Posted Nov 27, 2020 at Better Trader
The stop loss is often the problem, too many traders do not know where to place the stop loss. They take too many unnecessary losses and they never recover. When you trade you need to take into account volatility. Is volatility high or low? The best trading results occur when... Continue reading
Posted Nov 20, 2020 at Better Trader
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This is another scenario on the dollar wave count because if wave iv (circle) was the bounce in September the dollar would be going down in an impulsive manner and it would have made a new low by now. The thing that makes me think wave iv (circle) is probably... Continue reading
Posted Nov 20, 2020 at Better Trader
The number of Americans filing for unemployment benefits declined to 709 thousand in the week ended November 7th, from the previous week's revised level of 757 thousand and below market expectations of 735 thousand. Initial claims were at their lowest level since late March, but remained well above pre-pandemic levels.... Continue reading
Posted Nov 12, 2020 at Better Trader
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In my previous articles I discussed the importance of the size of the stop loss. This can make the difference between profit and loss. I also discussed what you need to do in order to succeed. But the most important thing in my view is the size of the stop... Continue reading
Posted Nov 6, 2020 at Better Trader
You like the idea of trading because it is a way to make money without having to work hard. That is why many people are attracted to trading. The reality is different. Fact #1: It is likely you won't get rich quick if you trade. But you can make regular... Continue reading
Posted Oct 30, 2020 at Better Trader
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We remain long S&P 500, we bought near the low when wave (v) was nearing an end. The pattern from the top is a falling wedge or leading diagonal [(i),(ii),(iii),(iv),(v)]. This pattern is complete after the index rallied above the upper line. The next move is a rally in three... Continue reading
Posted Oct 23, 2020 at Better Trader
Two weeks ago I wrote about intraday trading which is an active strategy. Active strategies do not always produce the best results because an active strategy capitalises on small moves with a tight stop loss. The tighter the stop loss the greater the chance it will be hit. Remember it... Continue reading
Posted Oct 16, 2020 at Better Trader
Many people like day trading or intraday trading as I call it because they think the more you trade actively the more money you can make. In theory it sounds good but in reality those who trade intraday are more likely to lose. Intraday trading requires tight stop losses and... Continue reading
Posted Oct 6, 2020 at Better Trader