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Web thoughts-denzuko1.blogspot.com

My Charting Blog

It is interesting that I start off this Blog when the Singapore Stock Market is heading south. However, this makes it more interesting for me to write on as the market turned volatile. My interest is Technical Analysis, TA for short. I love to look at charts and predicting where they are heading. This blog is or me to record my thoughts on the market. The articles on this blog are based solely on my personal opinion on the charts that I read and readers should not take it as absolute.

1/13/2010

USD wave count (testing)

Okay, I am still a little shaky on wave count and certain part of it requires intuitive guess. Anyway, here goes.


Fig 1 USD Weekly Chart

Looking at what USD has done so far, I suspect it is performing a huge counter wave after its descent from higher than SGD2 per USD. I am expecting that this would be the "C" wave at the moment, this provided my wave count is right. So far my exopectation of an up move is also base on the 14 weeks RSI reversing up from the bottom after a divergence.

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