EWStructures

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About me I have been applying the Elliott wave principle since 2005 to analyse and trade currencies (Forex), commodities and stocks.
Joined
Markets Allocation
65 % forex 5 % stocks 30 % other
Top Mentioned Symbols
NZDUSD 20% | 4 DXY 10% | 2 XAGUSD 10% | 2 AUDNZD 10% | 2
EWStructures EWStructures NZDUSD, 240, Short ,
NZDUSD: Nine month long ending diagonal could break soon
153 0 1
NZDUSD, 240 Short
Nine month long ending diagonal could break soon

Since January Kiwi appears to be in an ending diagonal which is not uncommon for a C wave. This pattern looks like a wedge and consists of 5 waves and it looks like the fifth wave could be complete at 0.7485. From 0.7485 a 5-wave decline followed to 0.7234 after which 3 waves up were seen which suggests minor wave 1 is complete and wave 2 could be complete. But ...

EWStructures EWStructures NZDUSD, 240, Short ,
NZDUSD: NZD/USD - Nine month long ending diagonal could break soon
16 0 0
NZDUSD, 240 Short
NZD/USD - Nine month long ending diagonal could break soon

Since January Kiwi appears to be in an ending diagonal which is not uncommon for a C wave. This pattern looks like a wedge and consists of 5 waves and it looks like the fifth wave could be complete at 0.7485. From 0.7485 a 5-wave decline followed to 0.7234 after which 3 waves up were seen which suggests minor wave 1 is complete and wave 2 could be complete. But ...

EWStructures EWStructures XAGUSD, 60, Long ,
XAGUSD: Silver - One push down before a rally
140 0 7
XAGUSD, 60 Long
Silver - One push down before a rally

Silver appears to be in a triangle wave 4. This would suggest one move lower to complete wave C, larger wave Y and the whole correction from 21.

EWStructures EWStructures GBPUSD, 240, Long ,
GBPUSD: GBP/USD - If it doesn't go lower it will go higher
177 0 10
GBPUSD, 240 Long
GBP/USD - If it doesn't go lower it will go higher

This is a tricky one, but aren't they all tricky ? Cable is nicely contained in a month-long corrective channel and is now at the bottom. At the end of this C-wave (of wave B) there is a small ending diagonal and a break north would send Cable likely higher. A break south from here would probably result in a massive downmove because it's rare that a corrective ...

EWStructures EWStructures NZDUSD, 60, Short ,
NZDUSD: NZD/USD - To move lower while below 0.7256
70 0 2
NZDUSD, 60 Short
NZD/USD - To move lower while below 0.7256

I expect this one to fall big time and for this count to stay valid 0.7256 should hold. Currently we're in wave C of minor wave 2. I believe 73.24 was the start of larger degree wave C so I'm gunning for the lows around 0.61/0.62. I would say from a r/r point of view it's worth a try (at least for me it is).

EWStructures EWStructures SPX500, 240, Long ,
SPX500: SPX500 - Might be time for a correction
189 2 5
SPX500, 240 Long
SPX500 - Might be time for a correction

As long as SPX stays above 1990 I'm bullish but a correction seems likely from here now . Wave 5 of minor wave 1 barely stuck it's head out above the extreme of minor wave 3 but I count 5 waves up so I reckon wave 1 (of wave 3) is complete. If this plays out a great opportunity will present itself to catch wave 3 of wave 3 which should be fast and furious and ...

EWStructures EWStructures DXY, D, Long ,
DXY: DXY - Dollar index, still bullish, expanded flat in progress
59 0 3
DXY, D Long
DXY - Dollar index, still bullish, expanded flat in progress

While above 93 I'm bullish on the buck . I reckon wave 5 started at 91.92 and we're now in wave 2 of wave 3 (of that wave 5). Importantly, we got 3 waves up from minor wave "1" which gives us a hint that an expanded flat is in the making so look for a turn slightly below 95.30 (the extreme of wave A) for a potential turn and need to see 5 waves down on the ...

EWStructures EWStructures EURCAD, D, Long ,
EURCAD: EUR/CAD - C wave coming up
46 1 5
EURCAD, D Long
EUR/CAD - C wave coming up

EUR/CAD has to break out of this big flag to complete wave 2, the broken trendline at 1.52 seems a nice target but it should at a minimum reach 1.4810 (end of wave A). Long term I'm bearish on this pair.

EWStructures EWStructures AUDNZD, 60, Long ,
AUDNZD: AUD/NZD - Wave 2 near completion
23 0 1
AUDNZD, 60 Long
AUD/NZD - Wave 2 near completion

I believe wave 1 of larger degree wave 3 is finished at 1.07 so I take this move down as a smaller degree wave 2 which ideally ends lower around 1.0550 but it doesn't always play out that way and might lift off straight away. I'm already in this one but I reckon a nice opportunity to add on to it will emerge soon. And if 1.0310 is indeed the end of larger degree ...

EWStructures EWStructures EURUSD, 240, Long ,
EURUSD: EUR/USD -  Triangle likely complete
87 0 3
EURUSD, 240 Long
EUR/USD - Triangle likely complete

As long as we're below 1.1097 I believe the triangle is complete and a wave 1 has started. A break below 1.1025 would confirm this and I'm targetting initially 1.06 (the bottom of the larger triangle we're potentially in, see weekly chart). And later on we should see new lows (below 1.04) because we are in a larger wave 4. Above 1.1097 would delay this.

EWStructures EWStructures EURNZD, 240, Long ,
EURNZD: EUR/NZD - Kiwi weakness around the corner
76 4 1
EURNZD, 240 Long
EUR/NZD - Kiwi weakness around the corner

EUR/NZD is near the end of a C-wave of a larger B-wave so I expect one stab lower before this C-wave is complete. Also note NZD/USD and AUD/NZD are at or near potential turning points.

EWStructures EWStructures DXY, 240, Long ,
DXY: DXY - Seems to be in a Flat
21 0 1
DXY, 240 Long
DXY - Seems to be in a Flat

DXY is in a minor wave 2 (of larger degree wave 3) and appears to be in the process of making a Flat so we could see 5 waves down towards 95 before more gains are likely. I'm bullish while above 93. Cycle degree wave 4 ended at 91.90.

EWStructures EWStructures XAGUSD, D, Long ,
XAGUSD: Silver - Still some way to go
186 0 2
XAGUSD, D Long
Silver - Still some way to go

The move from 49 to 13 was a wave 2 or B and unfolded as a zigzag and the rally from 13 is impulsive. Wave 1 completed at 18 followed by wave 2 which ended at 15.82. The ideal target for this smaller degree wave 3 that we're currently in is 22.87 (1.618 * wave 1). Below 18.25 would invalidate this count.

EWStructures EWStructures USDCAD, D, Long ,
USDCAD: USD/CAD - A rally will follow, now or later ?
105 20 5
USDCAD, D Long
USD/CAD - A rally will follow, now or later ?

A break of "i' would confirm wave 3 of wave C has started. However, it is possibe that we will see a move down to end wave C of (B) within a larger correction,.Therefore, a break above "i" is probably the safest way to grab wave 3. Below 1.2460 would invalidate both scenario's.

EWStructures EWStructures NZDUSD, D, Short ,
NZDUSD: NZD/USD - Wave 2 complete
53 2 2
NZDUSD, D Short
NZD/USD - Wave 2 complete

The larger correction from august 2015 has likely ended at 0.7295. Smaller degree wave 2 seems to be complete at 0. 7240 which suggests a big decline will follow from here. A surge above 0.7295 would invalidate this scenario.

EWStructures EWStructures TESO, W, Long ,
TESO: TESO - Tesco poised for a rally
18 0 2
TESO, W Long
TESO - Tesco poised for a rally

The plunge from 36.70 to 5.10 has unfolded in 3 waves. However, wave (c) didn't exceed the extreme of wave (a) so after a correction there is still the possibility that wave (c) will extend. This stock is close to zero so there is not much room to extend. Either way, a rally from here to 12 is likely.

EWStructures EWStructures AUDNZD, D, Long ,
AUDNZD: AUD/NZD - Wave 2 is complete
57 0 1
AUDNZD, D Long
AUD/NZD - Wave 2 is complete

Wave 2 has probably ended at the 100 percent level of wave A at 1,0375. Note the smaller degree triangle which confirms wave 4 of C. Wave 5 could extend but since 1.0375 is the ideal level for wave C to complete I expect wave 2 has ended and this pair will go up in a multi-month wave 3.

EWStructures EWStructures USDSEK, D, Long ,
USDSEK: USD/SEK - About to pop
14 0 0
USDSEK, D Long
USD/SEK - About to pop

Similar to the dollar index (DXY) it appears we are in a wave 4 and about to break out. I believe we are currently in a minor wave 2 of a larger wave 3 and a drop below 8.0940 would invalidate this scenario.

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