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Crude And S&P500 Moving Into Resistance?

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Oct 30 2019
As you may already know, stocks, specifically S&P500 and Crude oil are in positive correlation, maybe not always the perfect one, but cycles are there very similar, only the price move or extensions are sometimes different like now in 2019 per example, as shown on the chart below. What is very important at the moment when looking at this price correlation, is that Crude oil is much weaker than S&P500 that can be also seen in the OIL/SPX ratio chart, which is clearly bearish now down for wave five of C.

Well, looking at the current S&P500 wave count, we are observing a big ending diagonal so resistance can be seen at all-time highs, with limited upside at the upper ending diagonal line for wave 3. If that woudl be the case then we can expect a drop on oil as well, if we cosndier that energy is already much weaker now. From an EW perspective a drop may follow down from a triangle.

Ideal scenario would be something like we have seen last year, when both, stocks and Crude oil sharply fell at the end of the 2018.

Trade well,

EWF Team




BTCUSD Turns Up From The Supports. Is Breakout Here?

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Oct 28 2019

BTC Moved from interesting support levels, so is trend changing?

Check the video analysis for an update

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Bullish Emerging Markets May Push EURUSD Higher

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Oct 23 2019

Today we will talk about emerging markets( EEM ) and EURUSD .

As you can see in the first chart, there's a positive correlation between emerging markets and EURUSD . Of course, there are no tick by tick correlations, but the current wave structure it's telling us that we may see a bigger recovery in the upcoming days/weeks.

Emerging markets can be trading in a three-wave (A)-(B)-(C) recovery up to 61,8% Fibonacci retracement and 46 area, especially after that break out of the corrective channel, so in our opinion EEM may easily stay in current bullish run.

At the same time we can see strong and impulsive reversal out of the wedge on EURUSD  which is telling us that the temporary bottom can be in play and a bigger three-wave (A)-(B)-(C) move underway up to 1.15 - 1.18 area.

Notice that these are daily charts and they may take some time to completely unfold, so don't get confused on the smaller time frame charts. We just want to give you an idea, where the markets can be headed long/mid-term.

Be humble and trade smart! 



What Happens With SP500 At ATH? (VIDEO)

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Oct 22 2019

Stocks are trading nicely higher, approaching the all time highs, but is this going to be a major breakout or will price once again turn down fromt he highs?




(VIDEO) 7K Can Be Very Interesting Level For The BTCUSD

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Oct 22 2019


BITCOIN made strong and impulsive five-wave rally in the first part of 2019, which is from Elliott wave and technical perspective clearly bullish. Since the end of June, we are tracking a corrective W-X-Y pullback, mainly because of a three-wave drop in wave the first leg W that can be a signal for a correction, ideally double zig-zag corrective pattern!

GH




USDMXN Trapped In A Triangle With Possible Drop To 19.00 - Elliott Wave

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Oct 10 2019

After that very sharp and extended move up on USDMXN from 2014 through 2015 and 2016 the pair is now sideways which looks like a triangle. A lot of non-EW oriented traders would see this as a continuation pattern, which is fine, but from an EW perspective I assume that contracting range is part of weakness that is taking pair away from 22.00 high. Why? Because I see first drop from 2017 high very sharp and strong; to me it looks like an impulse, labeled as a wave A) that belongs to an ongoing and deeper wave four correction. If not mistaken, then this fourth wave should be made by three A)-B)-C) waves. But why I think this pair can be interesting now is because B)-wave triangle ca be coming to an end.

USDMXN, weekly


I like that price action on a daily chart from 20.25 to 19.31 is impulsive so it suggests that a three wave rise from April 2019 low is completed. And what is the best part is that even if consolidation is not finished yet, I still think that the lower side of the range will be retested around 19.00 region which is my minimum downward objective.

Any sharp drop below the 18.75 area would suggest an aggressive drop lower into a wave C). However, any rise above the 20.25 region would invalidate our current view, and that is also the price where we would start considering more direct-bullish interpretations.

Trade well, and talk to you soon,

Grega

USDMXN, daily


Is SP500 Back In Bullish Mode? Elliott Wave Video

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Oct 08 2019

S&P500 made a three-wave drop from the 3024 area which we labelled as a temporary A-B-C move; it's a corrective move so more upside can be seen. In fact, the intraday chart show an impulsive personality on a smaller time frame so more upside will be expected after any minor set-back. To get a full perspective, please check out video below.

Enjoy,
GH
  

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