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Elliott wave analysis: Crude oil can find a support near $60.00


Mar 15 2021
Crude oil is turning down despite after OPEC+ countries agreed to extend the majority of production cuts through April. We saw price spiked highe after that news and it is coming down now. However, we think this can be only a temporary retracement as we think that demand may increase as global lockdown restrictions can be removed slowly in upcoming weeks which may support oil prices.

Based on Elliott Wave principle we see ongoing impulsive recovery on crude oil which is now having only a temporary pause, seen in wave four that may retest the 60.00 support; a key technical level for a nex bounce if we consider the area of a former wave four and the very important 38.2% Fib.

Elliott Wave: Weakness Resumes On Natural Gas


Mar 15 2021

We noticed a downward movement starting on November 2nd which eventually developed in the shape of a diagonal. Now, for those who are not familiar with Elliott Wave, a diagonal is a motive wave structure which is composed of five sub-waves. It can occur in wave one of an impulse or A of a correction. What is the most important about diagonals is that subwaves 2 and 4 will overlap and that the pattern occurs at the start of a trend so after a three leg retracement that new trend is expected to resume just like in our case on natural gas, where leading diagonal suggested more weakness after a bounce back to 3.00 resistance.

On February 5th our analyst said: “

… despite the current recovery , watch out for limited rise and be aware of a downtrend resumption…”


February 5th chart:

Today we are seeing an initial move down which has broken the parallel channel formed by the corrective waves that followed the leading diagonal. As such, we expect further downside to come in the following days, but we need to keep in mind that since the diagonal could have been a wave A and not only wave one, then the price can be looking for limited weakness within leg C, but even this one is incomplete for now, so be aware of more downside.

Elliott Wave analysis: BATUSD Can Be Now Finishing A Five-Wave Cycle


Mar 15 2021

Hello traders!

Today we will talk about BATUSD (Basic Attention Token) which we have been tracking for a while and it is moving nicely as expected based on Elliott Wave theory.

At the end of February we have spotted a completed A-B-C correction, from where we expected a new rally back to highs.
Later, at the beginning of March we saw nice bounce and recovery, which was a bullish confirmation that a new five-wave cycle is in progress and it can push the price even up 161,8% Fibonacci extension and 0.90 area.

Today on March 15 we can see BATUSD with a completed five-wave cycle right at the projected target area. We know that after every five waves, a three-wave correction follows, so it means that we must be aware now of a new corrective slowdown, which can send the price back to the starting point of a recent five-wave cycle, especially because of bearish RSI divergence.

If you are interested in more of our Elliott Wave chart and want updates on a daily basis check our 7-DAY TRIAL for members service, covering FX and Digital currencies.

Updated Chart

USDJPY; The Bullish Wave Caused By A Wedge


Mar 12 2021

USDJPY has been in a downtrend since March 2020, which resulted as a correction of the impulse occurred during the Covid-19 crisis as during risk-off environment the yen becomes a safe heaven causing USDJPY to lose approximately 900 pips.

Despite the move down being quite choppy, our analyst identified an ending diagonal which in Elliott Wave terms is an indication of an imminent and strong reversal. Based on candlestick formation, the price structure and personality of the move, our analyst noted on January 12 the following :

»If we consider current break above strong weekly trendline plus other evidence, then we can easily confirm a potential bottom and bullish reversal." .” «

USD/JPY Jan 12 2021

USDJPY With Several Evidences For A Potential Bottom Formation by ew-forecast on

The reversal didn’t take much to come. As you can see from today’s chart it was also strong as expected. Once again the Elliott Wave Theory managed to provide us an edge to trade the live markets managing risk wisely. Diagonal are very good EW structures to trade, as they are very easy to identify and the outcome is always the same. The wave count suggests that we are in an impulsive bullish sequence, meaning that the move up from the January lows should be in five waves. So far the aggressiveness of the move confirms the bias, as we were in a third of a third which is very well known for being an explosive move.

Trade wisely and stay tuned for the next update!

Updated chart:

Jan 12 2021 Article; published on tradingview 

Dogecoin Ready For A Deeper Pullback


Mar 09 2021

Hello Traders!
Today we I will look at dogecoin which has been very interesting, especially on social media after Elon showed some interests regarding this coin in some of his tweets. However, I am afraid that the most of the social media traders and followers will get burn on these trades. Just copy someone, trade and make money isn't working. It may for some, but only for those who understand the risk, money management, timing and volatility. Besides that I also think that much safer game plan on cryptos is to buy low and sell high, and that's where the Elliott wave theory can be very helpful. It's the theory that tracks the market sentiment and makes repeatable cycles based on investors psychology, and unfortunately in a lot of cases market will do the opposite of "mass expectations". So for me it's not a surprise that price is actually moving south for the last few weeks, and it may see even lower prices as contra-trend moves are made by three waves and it appears that per EW model wave C is missing which may give a new opportunity for longs, after a completion of a retracement which can be at around 0.02-0.03 area. So for me, it's too soon to buy.

Trade well, and be aware of a downside risk, not only of a big upside potential on cryptos.  GH

Surfing the Waves (Mar 09 2021 Video Update)


Mar 09 2021

Hello traders,

Below is new video analysis, covering aussie, gold, copper, crude, usdcad, and usdjpy


EUR/AUD: Corrections Are Opportunities


Mar 08 2021

Hello Traders!
Today we are talking about a forex minor: EURAUD, which has been in downtrend for a while as commodity currencies will usually do much better in risk-on environment, and Aus-tralian dollar was no exception. Currency has been on the rise against the EUR since March of last yet. Pair lost more than 3000 pips after that spike high in March 2020 when we start-ed tracking bearish cycle and looked at each bounce as a correction on the way down.

One of those correction happened back in February that was also shared with our members. We sent an update on February 3rd when we were expecting a continuation to the downside because of an incomplete five-wave cycle (see schematic below).

Our analyst noted the following:

»...we can see an unfinished five-wave cycle, so it can push the price even lower within wave (5) that can stop anywhere in the 1.55 - 1.50 target area...«

EUR/AUD Feb 03 2021

As you can see from today’s chart below, the price stopped at 1.525 which would be predict-ed, as we did, by projecting the length of wave 1 to the end of wave 4 in order to look for equality of waves 1 and 5. As the Elliott Wave Theory teaches, equality of wave 1 and 5 is a common target and it was correct once again. The question is: what’s going to happen next? Well, we know that after a five-wave impulse, always comes a counter trend move in three waves which we, Elliott Wave Analysts, like to call ABC correction. As you can see from the chart, it looks like wave red (A) is already completed, meaning that wave (B) should be in progress and perhaps finished after a final moved down or might get quite tricky and per-haps shape in the form of a triangle. We are then expecting wave (C) which always unfold in five sub-waves and it’s usually quite clear to identify. We are then expecting some resistance around the 1.595 level where we may seem a reversal taking place and a further continua-tion to the downside, which will result as a great trading opportunity for the next weeks and months to come. Be humble and trade wisely!

Updated chart:

Basic Chart:

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