Hello Traders NIFTY50 closed the week @ 12352.35 and moved above last weeks high, which was a „hammer-candle“ and it is bullish. Any price action below the hammer´s candle low @ 11929.60 open the door to much higher price still, `cause a hammer candle reflects 3-5 weeks (at this case) of advancing price. This weeks high touched the upper rising trendline, blue,...
Hello Traders, not really much new to add. Hang Seng failed this week to decline significantly lower and the move from 29149.50 look like a sideways consolidation. If so to come, HS will make a modestly lower low below the 28619 from January 15 to complete an a-b-c pattern. At the longer-term chart there is to observe, that HS is clearly in an uptrend and closed...
Hello Traders, Hang Seng complete a wave (5) @ 29149.50 on Jan 14. This move could be all of the advances started @ 25995 on December 04 or it is wave (iii) of „iii“. I have drawn a „base-channel“ at the chart (blue) to show how wave „1“ and „2“ has progressed during it developing. The breakout of the channel with a gap-up on December 12 implies, that a wave „3“...
Hello Traders, price behavior supports my latter analysis that a new impulse to the upside in BYND has begun! The stock rallied to 135.23 yesterday, (Jan 14) on an intraday basis, before it reversed and finished maybe a wave „3“ at the intraday high. If so to come, the next move will be a „three-down“ or a variation thereof to complete a wave „4“. A target area...
Hello Traders, one more chart, here the EUR/USD! A Forex pair I seldom follow, but this week something interesting occurs at chart! Note the lower graph in the chart above. This is the FXE, the ETF that illustrated this pair. A „bullish-Engulfing“ developed at this week's trading ended. This is a bullish sign for the pair and is valid as long the low of the candle...
Hello Traders, some new facts occur this week for BYND! The stock missed my long term forecast target of $69.- share by making a low @$71.30 and bounced to the upside this week. Let`s check the stock`s behavior during this move. Weekly: Clear to observe is the fact, that a „bullish-Engulfing“ was developing this week. This is a bullish buy-signal and indicates...
Hello Traders, today I`d like to show you the NIFTY50 Future contract (Current in Front) to give you a quick overview of what could be next. At the 120 min chart there is to observe, that a „five-down“ was done @ 11917 was done, and a countertrend move started. My „problem“ with that move is the „deep retracement (<88%) that the future did maid, what makes the...
Hello Traders, HangSeng gaped to a high @ 28561 this morning. Today`s gap can be classified as a „common“ or „acceleration“-gap. As I wrote at yesterday's analysis, the low @ 28087.9 (closing price) was a wave „4“ of lower degree and the next move is up to new highs to my view. A possible target range or a new high is around the 29000 points area. Only a close...
Hello Traders, NIFTY50 is declining since it has made a high @ 12293.30 on December 20. This correction is a „three-down“ and could be labeled as an a-b-c-flat pattern that is done or close to do so. Note, that today`s low @ 11929.60 hit a 0.786 Fibonacci of the advance from 11832-12293.30! This is the maximum retracement that I like to accept for a correction...
Hello Traders, HangSeng topped on January 3 @ 28883.3 and create from a „candle-stick“ view a „dark-cloud-cover-formation, which is bearish. The following days HS shows some gap`s to the downside and achieved at today`s session a 0.382 Fibonacci of the advance from the possible wave „2“ low @ 26364.4-28883.3, a possible wave „3“ high. So this is a common target...
Hello Traders, NIFTY50 is trading below the high on December 20 @ 12293.90! May be an interesting pattern is underway, that opens the door for a different interpretation. As long as N50 is trading below this level, a short term correction could be in progress, that could find support at the (blue) trendline I have drawn at chart and crosses ~ 12200 area at...
Hello Traders, I wish all readers and their families a happy and healthy new year and best wishes! As per my last analyze, I have updated the chart and replaced the numbers and letters. Daily view: As per my count the low @ 24899.9 (intraday low) on August 15 marks the end of a wave „5“ of „(c) of ((ii))“! The advance since is to my view a series of „ones and...
Hello Traders, indeed, as of my last analyze NIFTY50 has caught one more high to 12293.90 and has started a decline thereafter. I have drawn a parallel trend channel to show how prices have moved since. At today`s session, they broke the lower boundary of the channel and intensified the strength of the decline to a low @ 12120.10. This is a possible wave „3“ low...
Hello traders, ACB (Aurora Cannabis) declined to 2.19 a share, which is a very steep correction for a possible wave „2“. But still valid in terms of Elliott. But, with a clear view of the chart, we have to accept the fact, that the odds do increase for this count idea. So, a decline below the 2.14 area, just by one tic, makes this count invalid! At 2.03 the wave...
Hello Traders, NIFTY50 has fulfilled my forecast and made new highs @ 12267 on an intraday basis! This could be all of the advances that has started on December 11, a wave „4“ low. I have updated the count and as you will notice, wave „3“ has just extended a 1.382 Fibonacci of the advance from 11939 – 12134, which is just 5 points below the Fibo-level. Thus,...
Hello Traders, Hang Seng has made a high @ 27967.90 on December 18. This was a little above the cited target range of 27900 points and it marks, to my view, the end of a wave „iii“! The „down-up-down“ sequence since that high is to short in terms of time and price to correct the total advance that started on December 11 at the possible wave „ii“ low. So I guess,...
Hello Traders, Hang Seng gapped higher as of the past two sessions. It runs above the upper boundary of the trend channel and above the level of 27227, what I mean is important. The structure of the advance with the gap`s in, make the odds high, that an impulsive move is underway with the next target range at 27894-27900 and if this will be achieved the upper...
Hello Traders, NIFTY50 gaped higher too, as Hang Seg did in the wake of „tariff-stress“ between the US and China. The decline that starts on November 28 @ 12158 could be label as a „three-down“, but the structure is to me not clear. Overall the decline ended at a wave „4“ area of one lesser degree, which is often a target range. So if this was all of the...