EllinacciHomma

EllinacciHomma

It is clear we are in a corrective wave, with half of a ZigZag pattern has been played out (AB - yet C). I will look for buy opportunities at around 19500 - 20000 where the B wave ends, with a target of 23000-24000 for C wave.

EllinacciHomma

Market structure is in clear uptrend since we constantly have higher highs and lower lows. EW counting suggests Zigzag (ZZ) pattern is about to be completed with one more leg up. Expect them to end around 0.885-0.89 where 1.0 fibo level lies, then we will look for short entry later.

EllinacciHomma Updated 

A 333 Zigzag wave (mint WXY) is played out. A zoom-in reveals 5-wave Impulse in orange has completed. Take advantage of this potential X pullback to load up your SHORT!!

EllinacciHomma

Long term is still very bullish, however, h4 timeframe suggests DXY is about to complete a 5-wave Impulse move. A corrective wave is likely to follow soon, which will in turn support a short relief rally of the market for risky assets.