Other Hammer examples that provided support:
To confirm a bottom and reversal, gold needs to close this week at or above 1695.
What was ounce a straight forward EW count in gold, has turned into a mess, no comment for now.
Gold-JPY (yen) is also hinting at a break-out higher:
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Silver - Completed it's 5th wave down as expected, presenting a 'text-book' 5-3-5 corrective zig-zag pattern:
Silver must now stay above the lower channel line on a daily closing basis or risk collapse:
Silver also produced a bullish daily hammer setting a potential bottom at 29.23
The Weekly close in Silver presents possible bottoming action, but needs confirmation with a close this week above 32.31:
Other examples of doji tops and bottoms:
I made an intra-day call at www.Kitcomm.com early morning on 1-4-13 that played out very nicely:
More upside is likely in the ST:
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EUR/USD - Back test came as expected. If successful, price should rally back up above 1.3300 fairly soon, possibly this week. However, breaking keys support (orange trendline, currently below at 1.2961) could cause a collapse:
The recent top and back-test was fairly easy to identify:
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Grains - Soybeans could have some serious downside, if price remains below 1433 much longer. The QG3 ribbon is still fully open to the downside, best to keep short at this time.
Corn hit support target range this week, but must rally back up above 684 or risk further downside.
Wheat still bearish while below 787.
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I'll be 'filming' my video next week. All my extensive back-testing of the QG3 (3/10/20 ribbon) is complete and looks very promising.
When my signal service and video are ready I will email those who have shown interest ASAP.
Happy hunting!
