Sep 032012

Ramki’s Elliott Wave Analysis of USD/CHF(Swiss Franc) appears on Marketwatch today.He explains
-How Elliott Wave analysis uses Fibonacci ratios
-How far did the third wave go in USD/CHF?
-How corrective waves alternate in complexity
-How to anticipate potential end points for the fifth wave
-What to expect now for USD/CHF

Go ahead and check out how you can use Elliott Wave Analysis to become a better trader!

Aug 032011

I would like you to go back to my USDCHF update of 19 July 2011, where readers were urged to follow the progression of the fifth wave very carefully, because once that was completed, we will get a correction that will last all summer.

I believe that today’s low at 0.7622 marks the end of an important cycle for the USDCHF. The Swiss National Bank has made it clear that it will not tolerate any further strength in the Swiss Franc, and we got a rapid 2% recovery in USDCHF.

Be aware that the sentiment is still very bearish, and I expect some profit taking to emerge above 0.7900. But I will look to trade the USDCHF from the long side, by buying on dips for the next few weeks.
IMportant point. We just finished an extended fifth wave, So even if we get a full retest of the lows, (including a NEW lOW below 0.7622), just use that dip to go long USDCHF. We should be seeing 0.7920 in just a few days, I am hoping. But be sure to use stops, and trade affordable position sizes.

Jul 192011

The last time I wrote my Elliott Wave Analysis of Swiss Franc or USD/CHF was back in 2008. Guess that was a long-enough break!
If you are trading the USD/CHF, or if you are a corporation exposed to the Swiss Franc’s exchange rate movements, then this post could prove useful to you. As always, there is more information on the charts than in this commentary box. So go ahead, and enjoy! Share it with your friends.

Nov 232008

A reader has asked about a possible fifth wave extension in USD/CHF. (refer comment by Dolphin). We are currently trading at 1.2217. I see some solid supports at 1.2000 levels and tehn some more at 1.1850 levels just now. These supports could only move higher as we stay better bid on the dollar. I strongly recommend that we should look at the bigger picture first in order to get a sense of how high a rally could go, (or how deep a decline) and then figure out how to count the waves. Of course, the end result of all our counting should be to initiate profitable low risk trading ideas, which we should execute, at least with a small position. Otherwise, we will end up as mere arm-chair analysts! Anyway, here is the monthly chart of the USD/CHF and I am already making the sin of looking only at the last 5-wave decline !! Still, that gives us an idea of how high the correction could go. Enjoy!  Ramki