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Elliott Wave Analysis: NIKKEI Remains Bullish

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Jun 18 2021

Hello traders and investors!

Today we will talk about Japanese Index NIKKEI 225 in which we see very clear bullish pattern .

As you can see, NIKKEI made an A-B-C corrective decline from the highs and the main reason why we think it's a correction within uptrend is because of a triangle within wave B in the middle. We know that triangles cannot occur in wave 2, so it must be wave B as part of an A-B-C correction.

The Next very important evidence that A-B-C correction is completed is recent five waves up from the lows and we know that a five-wave reversal indicates a change in trend, so NIKKEI will probably stay in the uptrend.

However, in EW theory, after every five waves, a three-wave pullback follows, so before we will see a continuation higher, be aware of a corrective slow down with ideal support in the 28800 - 28300 zone. Of course, pullbacks could be even deeper, so count remains valid as long as the price is trading above 27400 May lows.

NIKKEI225, 1H

 

Elliott Wave Video Update; EUR, NASDAQ 100, DAX, CRYPTO

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June 11 2021

Hey traders!
 
It appears that we will have to wait a little bit longer on higher yields from ECB, which causes some limited upside for the EURUSD pair. Also G7 meeting can be an important market driver for the start of a next week due to historic deal on minimum global 15% tax. They may also touch the cryptocurrencies which may see some limited upside once all the details from the meeting are released.

For more details about our technical view on EUR, GOLD, DAX, NASDAQ100 and even FACEBOOK please check our video below.

Have a nice weekend.

GH





Surfing the Waves June 08 2021 -Video Update

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June 08 021

Hey traders!

Below is new video analysis for GBPUSD, AUDUSD, EURAUD, GOLD, SILVER and DAX sponsored by Orbex.com
 


Consolidations On Aussie and Silver

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Jun 02 2021

Hey traders,

No change from the RBA, Melbourne is in a new extended lockdown and stocks at potential resistance. This may suggests that AUDUSD will stay sideways and may not break resistance just yet, but ideally that will be the case after a completed wave four. At the same time we may see higher metals, possibly during summer.

You can hear more about AUDUSD and Silver in our latest video below.

GH


Bitcoin: Bulls Are Not Ready Yet (Elliott Wave)

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May 28 2021

Bitcoin has seen a big sell-off in the last few weeks but it appears that resistances may not be broken so easily as recent intraday recovery looks corrective. In fact, on some important markets we see impulsive sell-off, meaning corrections can be deeper after bear market rally.

Grega

Bitcoin: Bulls Are Not Ready Yet (Elliott Wave) by ew-forecast on TradingView.com



Surfing the Waves May 25 2021 -Video Update

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May 25 2021

Hey traders!

Below is new video analysis for EURUSD, GBPJPY, NZDUSD, GOLD and EURAUD sponsored by Orbex.com
 


SP500 Stops For A Correction

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May 24 2021

Hello Traders and Investors,
Today we want to present you the chart of the SPX500, possibly the most known financial index in the world. Many believe that the only reason why such markets move is driven by the performance of the individual stock within the indices and their earning reports and dividends.
We, as Elliott Wave Analyst, like to stick to our technical analysis as we can identify patterns which repeat in time. In this particular scenario we were waiting for a wave 3 of Primary degree to be completed anytime soon, possibly not before a smaller pullback to complete minor 4 and 5 of higher degree wave 5(red 5 in the chart).

SPX chart from April 25 (twitter):


Back then we assumed that a larger correction was imminent and that as long as it would have been in three waves we were willing to turn bullish again. Eventually we obtained the completion of wave 5) and the higher degree Primary 3 and the sharp initial move down in wave 4 of Primary degree did not take long to manifest. We know that support is shown within the 3950-4000$ level so we cannot out rule the possibility of another move down(possibly a wave C) of higher degree wave 4) after the sharp recovery from Friday’s 14th session. It is also very common for wave fours to complete near the wave four of one lesser degree, in this case it would be Intermediate wave 4) (red 4) which is at around 3720$.

We would also like to remind you that in the event the SPX keeps on falling Elliott Wave invalidation level is at 3590$ which is where the wave 1 of the same degree is.

SPX Update from May 24th :


Of course not all of the patterns will unfold based on our expectations, but that's why it's very important to see the difference between good and bad patterns. Normally, the easiest patterns are the once that can be recognized immediately, the one that occurs within a higher degree trend. So on the chart above what we see is a pause on the way up, therefore we will expect trend to resume into wave five sometime in weeks or months ahead, which may last until Fed comes out with new policy actions.
 

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