Guys, ETH rallied in 5 waves into its January high. It struggled seriously to rally with BTC together lately, showing relative weakness. The pattern has the characteristics of a fading 3-waves correction from the February lows. This makes the entire structure probably an extending leading diagonal, which is similar to BTC. Elliott's rules for this pattern calls...
The Nifty arrived at a do or die junction. The 10,076 level must hold if our bullish ending diagonal scenario (depicted in black) plays out eventually. The alternative is depicted in red. A break of yesterday's low most likely implies an attack of the 10,076 level. Moreover, it is critical to recognize that the red count suggests a third wave to the downside. We...
Key Points Every cryptocurrency investor and trader must carefully consider the underlying facts to their investment. There are major red flags from a fundamental and technical point of view. Therefore crypto traders and investors should invest only as much as they are ready to loose in case of a total wipeout. Moreover everyone should critically question...
Nasdaq shows a 3 wave rebound off the Feb. 2018 lows. Subsequent wave action did a small 3-wave into a new top and corrected into a contracting diagonal. This looks like a flat 4th wave. Odds are high to see a fith wave into a new high.
An attractive Risk Reward trade setup in the Nifty 50 index. The drop from the January high still counts as 3-wave move as we publish this. The subsequent bounce is ambiguous. It can be counted as a 3-wave as well as a 5-wave move. We remain with our expanding ending diagonal scenario as the most probable forecast for the Nifty 50 at the moment. This is shown in...
The market has rebounded to a 61.8% Fibonacci of its last drop. We label this rebound as a minuette wave (b) since the preceding drop counts better as an impulse. Hence, we continue to expect another leg down. S/L: 2758 T: 2620
Guys, the EUR/CHF appears to show a nice trade setup. It results into a 2.5 / 1 risk-reward profile. We've seen the EURCHF getting rejected from a multi-year trend channel resistance (pale blue). The rejection followed a wedge pattern. Moreover, an impulse to the downside developed. An impulse, as well as time and space (the correction is not big enough...
Guys, the EUR/USD elliott wave structure now counts as terminal within multiple degrees. Moreover, the drop from the February 2018 top looks impulsive into our minuette wave (i) label. A subsequent 3-wave bounce leads subsequently to another downside impulse. The EUR/USD embarked probably on a third wave of minuette degree journey Southbound. Our short term...
Oil remains most likely in correction mode for the time being. We can count 5 waves off the January peak. The subsequent bounce counts as a double zig-zag, which reached the 50% fibonacci retracement. Oil has been notoriously complex during the past years. We should not be surprised by some complex followthrough for the current correction instead of a simple...
Pale blue trend channel needs to be broken to the downside for confirmation. Should happen in an impulsive manner, which also takes out alleged minuette wave (iv). Else trend remains up.
The Nikkei shows a non-terminal elliott wave structure. Weather it reached a significant top early year or not - more short term upside is likely. Risk / reward is enhanced by waiting for the next 3-wave dip. Alternatively the trade may be activated right now also for a more risk inclined approach. S/L 21620 Target: 23500
The EUR/USD elliott wave structure now counts as terminal within multiple degrees. Moreover, the drop off the top looks impulsive into our minuette wave (i) label. However, we still need to see further confirmation for our scenario here. Next step towards confirmation comes in form of a 3-wave 0.00% bounce. Taking out the interim high probably means a further...
The EUR/USD probably traces out a contracting ending diagonal of cycle degree long term. This is in line with the Dollar index. There is fundamental support to this case here. International trade is among the key focus points of the Trump administration. A weakening of the US Dollar seems to play a role for reaching the set goals of increasing exports. There has...
The EURUSD traced out a small impulse off its 9th of February lows. Moreover, the greenback’s wave structure relative to other major pairs shows as well incomplete elliott wave patterns with bearish USD implications. Either new highs are on the menu or at least a big retracement plays out in a non-confirmation move to other USD pairs. S/L 1.22 Target 1.25
Today’s high got confirmed by maximum momentum. Moreover, wave action since last Friday counts better as a 3-wave to the upside. Alternatively a case can be made for a 5-wave up with an extended first wave. We do not want to embark here on an irregular flat as a forth wave as the structure looks displaced in time and space. Hence, the S&P 500 is not done to the upside!
Wedge may trace out in USD/JPY. It may be either an ending diagonal or a beginning diagonal. Whatever it is, the subsequent retracement is usually deep. The wedge is dead below 107.15. S/L 107.15 Target 108.90
The SSEC seems to build the stage for a strong move to the upside. We expect slightly more correction as the drop from minuette wave (i) looks impulsive into today's market close in Shanghai. The current retracement may reach the previous wave of minute degree's high or even lower into the 61.8% fibonacci. An interesting setup! Targeting 3800-3900 S/L 3280
Right now it is overshooting the pale green trend channel. The pale green channel represents a medium term trend, which started in 2010. This is most likely a 3rd elliott wave of primary degree. An overshooting of their equivalent medium term trend channels can also be observed in the Dow Industrials as well as in the Nasdaq 100. This action is usually observable...