Please ignore the system date of this post since I will update this page regularly
I will attempt to update this page every Saturday
Following charts are updated as of Saturday Feb 6, 2010
OVERVIEW
The break of 1.5894 last week is the first indication that MTD 9 high has arrived at 1.6457. It also indicates that the higher time frame LTD and SLTD are probably both travelling down. Sure enough the subsequent break of 1.57 on Friday confirms that both LTD and SLTD are indeed travelling down.
From the MTD, LTD, and SLTD time frame point of view, the downward price pressure likely has not finished. From ITD time frame point of view, we are due for some relief correction.
ITD (MC1)
ITD 1 low most likely has either been due last Friday or Monday of next week. Once ITD 1 low is IN, we are travelling UP to ITD 2 high due on average Monday Feb 15. There is a possibility of ITD 1 inversion, but I am leaning towards no inversion since ITD 2 is due soon anyway. Looking forward, ITD 3 low is due on average Feb 24 and this is most likely where MTD 10 (and possibly also LTD 1) will also arrive.
MTD (MC2)
MTD 9 high has been confirmed to arrive at 1.6457 when we had a break of 1.5894 last week. We are currently travelling down to MTD 10 low. Looking at the past two MTD cycles, MTD 9 - MTD 10 move was in 34 and 30 calendar days. In the current cycle, the length of time from MTD 9 high (1.6457) to last Friday's low (1.5557) was only 18 calendar days, and therefore it's likely that MTD 10 low is not yet due.
MTD 10 low is probably going to be due together with ITD 3 low on average Feb 24.
LTD (MC3)
The break of 1.5894 last week proves that LTD (18) inversion has arrived at 1.687. We are currently travelling DOWN to LTD 1 low. Delta rule says that if LTD (MC3) inverts, it must double invert as well. To allow for an adequate time for both LTD 1 and LTD (1), it's probable that LTD 1 low will be due quite soon, perhaps together with MTD 10 low.
