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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 887
Forum Topic:

CHF

Discuss CHF
 
SpeculatorPete
Rotterdam, Netherlands
Posts: 0
7 months ago
May 1, 2020 21:38
Swiss Franc (CHF) is gonna fall the next 3 months I think.
freeforex
Central, Egypt
Posts: 0
8 months ago
Mar 8, 2020 20:44

Wave Personality
The idea of wave personality is a substantial expansion of the Wave Principle. It has the advantage of bringing human behavior more personally into the equation.
free forex signals and The personality of each wave in the Elliott sequence is an integral part of the reflection of the mass psychology it embodies. The progression of mass emotions from pessimism to optimism and back again tends to follow a similar path each time around, producing similar circumstances at corresponding points in the wave structure. As the Wave Principle indicates, market history repeats but not exactly. Every wave has siblings (same-directional waves of the same degree within a larger wave) and cousins (samedegree and same-numbered waves within different larger waves) but no wave has a twin. Related waves — particularly cousins — have similar market and social characteristics. The personality of each wave type is manifest whether the wave is of Grand Supercycle degree or Subminuette. Waves’ properties not only forewarn what to expect in the next sequence but at times can help determine the market’s present location in the progression of waves, when for other reasons the count is unclear or open to differing interpretations. As waves are in the process of unfolding, there are times when several different wave counts are perfectly admissible under all known Elliott rules. It is at these junctures that a knowledge of wave personality can be invaluable. Recognizing the character of a single wave can often allow you to interpret correctly the complexities of the larger pattern. The following discussions relate to an underlying bull market picture, as illustrated in Figures 2-14 and 2-15. These observations apply in reverse when the actionary waves are downward and the reactionary waves are upward.
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1) First waves — As a rough estimate, about half of first waves are part of the "basing" process and thus tend to be heavily corrected by wave two. In contrast to the bear market rallies within the previous decline, however, this first wave rise is technically more constructive, often displaying a subtle increase in

Figure 2-14
volume and breadth. Plenty of short selling is in evidence as the majority has finally become convinced that the overall trend is down. Investors have finally gotten "one more rally to sell on," and they take advantage of it. The other fifty percent of first waves rise from either large bases formed by the previous correction, as in 1949, from downside failures, as in 1962, or from extreme compression, as in both 1962 and 1974. From such beginnings, first waves are dynamic and only moderately retraced.
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2) Second waves — Second waves often retrace so much of wave one that most of the profits gained up to that time are eroded away by the time it ends. This is especially true of call option purchases, as premiums sink drastically in the environment of 79 fear during second waves. At this point, investors are thoroughly convinced that the bear market is back to stay. Second waves often end on very low volume and volatility, indicating a drying up of selling pressure.
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3) Third waves — Third waves are wonders to behold. They are strong and broad, and the trend at this point is unmistakable. Increasingly favorable fundamentals enter the picture as confidence returns. Third waves usually generate the greatest volume and price movement and are most often the extended wave in a series. It follows, of course, that the third wave of a third wave, and so on, will be the most volatile point of strength in any wave sequence. Such points invariably produce breakouts, "continuation" gaps, volume expansions, exceptional breadth, major Dow Theory trend confirmations and runaway price movement, creating large hourly, daily, weekly, monthly or yearly gains in the market, depending on the degree of the wave. Virtually all stocks participate in third waves. Besides the personality of B waves, that of third waves produces the most valuable clues to the wave count as it unfolds.
4) Fourth waves — Fourth waves are predictable in both depth (see page 66) and form, because by alternation they should differ from the previous second wave of the same degree. More often than not they trend sideways, building the base for the final fifth wave move. Lagging stocks build their tops and begin declining during this wave, since only the strength of a third wave was able to generate any motion in them in the first place. This initial deterioration in the market sets the stage for non-confirmations and subtle signs of weakness during the fifth wave.
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5) Fifth waves — Fifth waves in stocks are always less dynamic than third waves in terms of breadth. They usually display a slower maximum speed of price change as well, although if a fifth wave is an extension, speed of price change in the third of the fifth can exceed that of the third wave. Similarly, while it is common for volume to increase through successive impulse waves at Cycle degree or larger, it usually happens in a fifth wave below Primary degree only if the fifth wave extends. Otherwise, look for lesser volume as a rule in a fifth wave as opposed to the third. Market dabblers sometimes call for "blowoffs" at the end of long trends, but the stock market has no history of reaching maximum acceleration at a peak. Even if a fifth wave extends, the fifth of the fifth will lack the dynamism that preceded it. During advancing fifth waves, optimism runs extremely high despite a narrowing of breadth. Nevertheless, market action does improve relative to prior corrective wave rallies. For example, the year-end rally in 1976 was unexciting in the Dow, but it was nevertheless a motive wave as opposed to the preceding corrective wave advances in April, July and September, which, by contrast, had even less influence on the secondary indexes and the cumulative advance-decline line. As a monument to the optimism that fifth waves can produce, the advisory services polled two weeks after the conclusion of that rally turned in the lowest percentage of "bears," 4.5%, in the history of the recorded figures despite that fifth wave’s failure to make a new high!
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6) A waves — During the A wave of a bear market, the investment world is generally convinced that this reaction is just a pullback pursuant to the next leg of advance. The public surges to the buy side despite the first really technically damaging cracks in individual stock patterns. The A wave sets the tone for the B wave to follow. A five-wave A indicates a zigzag for wave B, while a three-wave A indicates a flat or triangle.
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7) B waves — B waves are phonies. They are sucker plays, bull traps, speculators’ paradise, orgies of odd-lotter mentality or expressions of dumb institutional complacency (or both). They often involve a focus on a narrow list of stocks, are often "unconfirmed" (see Dow Theory discussion in Chapter 7) by other averages, are rarely technically strong, and are virtually always doomed to complete retracement by wave C. If the analyst can easily say to himself, "There is something wrong with this market," chances are it’s a B wave. X waves and D waves in expanding triangles, both of which are corrective wave advances, have the same characteristics. Several examples will suffice to illustrate the point.
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Ashraf Laidi
London, UK
Posts: 0
8 months ago
Mar 6, 2020 1:24
In reply to crs's post
Still very solid, especially vs USD but unsure whether the next slide will appear now or weeks later so careful abt the cost of holding CHF longs.

Ashraf
Ashraf Laidi
London, UK
Posts: 0
8 months ago
Mar 6, 2020 1:24
In reply to crs's post
Still very solid, especially vs USD but unsure whether the next slide will appear now or weeks later so careful abt the cost of holding CHF longs.

Ashraf
crs
Chiang Rai, Thailand
Posts: 0
9 months ago
Feb 29, 2020 9:37
Thoughts on CHF going now and forward?
Mohamed2017
Abu Dhabi , United Arab Emirates
Posts: 0
3 years ago
Jan 7, 2018 20:04
Dear Ashraf,

what's ur viewpoint on CHFJPY, is't sell or buy?
It's too important to me pls.

Thanks in advance..

jontrader
Texus, United States
Posts: 0
4 years ago
Feb 26, 2017 15:09
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djellal
LAUSANNE, Switzerland
Posts: 531
4 years ago
Dec 15, 2016 9:44
usdchf @ 1,1000 end Q1 2017
Rob
New York, United States
Posts: 305
5 years ago
Jan 2, 2016 17:06
In reply to oldgreywhistletest's post
Thanks oldgreywhistletest - appreciate the analysis, and good timing with the recent drop in CHF bets a few days ago.
oldgreywhistletest
mulhouse, France
Posts: 0
5 years ago
Dec 27, 2015 20:13
In reply to Rob's post
hi rob
multi weeks and day support reach on usd/chf at psychological level

good buying opportunity at around actual level

mind that swiss was overhaeting during time of us QE with capital inflow reaching its paroxism agianst its main trading partners the EU and that why the SNB decided in january to devalue its currency against euro by 20 cents .
right now swiss eco is doing pretty well especally the industrial side ; order book are full.

so keep on going long this usd/chf and mind the differential rate between the us gvt bonds and the snb rate decision.