Elliottwave-Forecast

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Feb 17, 2017
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Energy Fuels is the largest US miner of the uranium. It produces the uranium both in form of triuranium octoxide and uranium hexafluoride. Besides the core business, the secondary products of Energy Fuels are rare earth elements and vanadium. Founded in 2006, the company has its headquarters in Lakewood, Colorado. One can trade it under the ticker $UUUU at the New York Stock Exchange. Investors in shares of the mining company are participating, therefore, in the company success story on the one hand and in the price development of the uranium commodity on the other.

Currently, we see the ongoing price appreciation within the energy commodities like oil, gas, coal and others. Consequently, uranium is expected to turn higher after 13 years of weak prices as well. Besides the market correlation in the energy group, the pattern of $UUUU on its own demonstrates an impulsive bullish behavior. Therefore, investors in the energy sector obtain a good diversification opportunity by investing in the largest uranium mining company of US.

Energy Fuels Weekly Elliott Wave Analysis 03.21.2021​

The weekly chart below shows the Energy Fuels shares $UUUU traded at NYSE. First, the stock price has developed a cycle higher in black wave ((I)) of grand super cycle degree. It has printed the all-time highs on October 2011 at 23.13. From the highs, a correction lower in black wave ((II)) has unfolded as an Elliott wave double three pattern. It has printed an important bottom on March 2020 at 0.78.

From March 2020 lows, a new cycle in wave ((III)) has already started and should extend towards 23.13 highs and beyond. Then, the target for wave ((III)) will be towards 23.96-38.28 area and even higher.

Energy Fuels Elliott Wave Weekly

Energy Fuels Daily Elliott Wave Analysis 03.21.2021​

The Daily chart below shows the $UUUU shares price action in more detail. The stock can be in the early stages of the blue wave (I) of the black wave ((III)). Right now, the cycle higher from March 2020 in red wave I of blue wave (I) is still in progress. From the lows at 0.78, the stock price has advanced in the black wave ((1)). Then, after pullback in wave ((2)), an extension higher in black wave ((3)) has ended at 6.45. It has reached more than 2.618 multiples of the length of the wave ((1)). Therefore, it classifies the wave I as an ongoing impulse. Now, while above 03.05.2021 lows, where wave ((4)) has found its bottom, a final move higher in wave ((5)) should end the cycle higher in red wave I.

Currently, it can be risky chasing the March 2020 cycle higher. However, investors and traders can be looking to buy a clear pullback in 3, 7, 11 swings in wave II against 0.78 lows for another rally in wave III.

Energy Fuels Elliott Wave Daily

Source: https://elliottwave-forecast.com/stock-market/uuuu-energy-fuels-turning-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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www.elliottwave-forecast.com
Cocoa (or cocoa bean) is one of soft commodities, along with sugar, coffee, orange juice and cotton. The bean is the fully dried and fermented seed, wherefrom cocoa solids and cocoa butter can be extracted. Cocoa beans are the basis of the chocolate. One can trade Cocoa futures at ICE owned New York Board of Trade in contracts of 10 metric tons each under the ticker CC #F. Also, there are similar contracts at CME owned NYMEX under the ticker CJ #F.

Currently, we see other soft commodities like coffee and sugar turning higher after a long period of depressed prices. Based on the correlation within group of softs, the cocoa seed is expected to turn higher as well. In particular, wave structure of CC #F supports that bullish view. Will the rally in the cocoa make the chocolate less affordable for the broad population?

Cocoa Monthly Elliott Wave Analysis 03.21.2021​

The monthly chart below shows the cocoa seed front contract CC #F at NYBOT. From the important low in November 2000, the prices have developed a cycle higher in blue wave (I) of a super cycle degree. Hereby, wave (I) has demonstrated a leading diagonal pattern and has ended in March 2011 at 3775. From the all-time highs, a correction lower in wave (II) has unfolded as an Elliott Wave zigzag pattern. In 6 years, CC #F has become cheaper by more than 50% reaching 1756 level. It is the preferred view that an important bottom on April 2017 has been set and the correction has ended. From the lows, a new rally in prices within blue wave (III) may have started.

For 2021-2030, the expectations are to break to the new all-time highs. The target for wave (III) will be 4842-6753 area. From current levels, the cocoa seed can, therefore, double in price.

From the April 2017 lows, the advance higher is showing red waves I and II. Then, a higher high within a new cycle in red wave III, so far in black wave ((1)), has not reached yet the equal legs extension area towards 3165-3898. Therefore, while the price remains above 1982, the bullish sequence will push the price higher.

In shorter cycles, waves ((1)) and ((2)) have ended. Currently, wave ((3)) of III may be already in progress.

Cocoa Elliott Wave Weekly

Cocoa Daily Elliott Wave Analysis 03.21.2021​

The daily chart below shows in more detail the advance from the July 2020 lows where wave ((2)) has ended. From the bottom at 2092, one can obeserve two nests higher building another bullish sequence. Now, while above 02.17.2021 lows at 2371, red wave 3 can reach towards 2955-3317 area and even beyond.

Investors and traders can be, therefore, looking to buy pullbacks in 3, 7 or 11 swings from the extremes. The targets are 2955-3317 in short term, 3165-3898 in medium term and 4842-6753 in a long run.

Cocoa Elliott Wave Daily

Source: https://elliottwave-forecast.com/commodities/bullish-sequence-push-cocoa-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Since the crash of March 2020, all stocks have tried to recover what they lost and JNJ was no exception. Johnson & Johnson did not only recover the lost, but It also reached historic highs. Now, we are going to try to build a wedge from the March 2020 lows with a target above $176.

In the chart we can clearly see that after the fall of March 2020, JNJ had a strong and rapid recovery. We call this movement wave ((1)). The for several months it was within a large range forming a double correction until it continued with the rally. This range was the wave ((2)). (If you want to learn more about Elliott Wave Theory, please follow this link: Elliott Wave Theory).

JNJ Daily Chart

JNJ Daily Chart

JNJ continued the rally breaking the peak of the wave ((1)) indicating that we are already on wave ((3)). This wave ((3)) had its highest point at 173.69 where JNJ was rejected by the market. This rejection did another double correction structure and overlaps the wave ((1)) zone to end the wave ((4)). This fact and the long time that wave ((2)) took to complete, gives us the guideline to determine that the structure that JNJ is building is a diagonal.

We are currently in the last swing to complete the diagonal. This swing should be an impulse as happened with waves ((1)) and ((3)). Wave (1) of this new impulse seems finished and we are correcting on wave (2). This wave (2) should bounce off from 155-157 zone to continue the bullish move. This would lead us to look for 3 more swings to complete the wave ((5)) and the diagonal that began in March 2020. This diagonal should end the structure within the area of 176 - 179 dollars per share.

Source: https://elliottwave-forecast.com/stock-market/jnj-heading-wedge-structure-short-term/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Are $TLT Long Term Cycles Ready To Turn Higher?

Firstly the ETF fund TLT inception date was on July 22, 2002. This instrument seeks to track the investment results of an index composed of or in U.S. Treasury bonds with maturities twenty years or more remaining. There is a lack of data before July 22, 2002. This article will focus on the larger uptrend cycle from there which is presumed finished a cycle higher from those lows in wave ((a)) in July 2016. The pullback from that high appeared to be an Elliott wave zig zag structure in three waves into the November 2018 wave ((b)) lows.

Secondly: The aforementioned pullback lower in the wave ((b)) was strong enough to suggest it was correcting the cycle up from the all time lows. Thus it appears ended that cycle. From those November 2018 lows the instrument has made another high above the July 2016 highs creating a bullish sequence. This sequence higher from the November 2018 lows appears to be incomplete. On the monthly chart shown below, Elliott wave corrective sequences are in either three, seven or eleven swings. Impulses are in either five, nine or thirteen swings. It is obvious the three swings lower from the July 2016 highs into the November 2018 lows were of three swings.

The analysis continues and concludes below the Monthly chart.



Thirdly and in conclusion the cycle up from the November 2018 lows ended at the March 2020 highs. Down from there a three swing cycle appears to remain in progress. While the current pullback continues to show it will remain above the November 2018 lows it can see a turn higher again.

Source: https://elliottwave-forecast.com/stock-market/are-tlt-long-term-cycles-ready-to-turn-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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EURCAD Found sellers in the blue box, and reacts lower.​

The 1 hour EURCAD chart below is from 3/23/2021 Asia update. In it, we see continuation of clear impulse wave in black wave ((iii)) down from the blue wave (ii) peak at 1.528360. Blue wave (ii) itself corrected blue wave (i) which preceeded it. As per Elliott wave theory, we natually expected a correction to follow after wave ((iii)). Black wave ((iv)) was indeed in progress, and its end was nigh as we see on the chart below. In black wave ((iv)), the instrument made six swings, pending the seventh swing to complete the pullback. The pullback was expected to terminate at or within the 1.495856 and 1.503567 blue box area. We also see in the chart that the right side is downside, we therefore favor short positions in 3, 7 or 11 swings.

Elliot Wave 1 Hour chart from 3/23/2021 Asia update EURCAD 1H

The 1 hour chart below is from 3/24/2021 Asia update. As was expected, the instrument traded into the blue box area. We then saw a reaction lower from the blue box in blue wave (i). The instrument is expected to pullback in blue wave (ii) before continuing lower in blue wave (iii). As usual,we expect (iv) and to (v) of ((v)) to finally follow. We need to see a break below black wave ((iii)) lows to confirm the next leg lower in black wave ((v)). This is because a double correction higher in black wave ((iv)) cannot be ruled out as long as black wave ((iii)) lows hold.

Elliot Wave 1 Hour chart from 3/24/2021 Asia update EURCAD 1H

Source: https://elliottwave-forecast.com/forex/eurcad-reacts-lower/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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AUDJPY reacts at the bue box area​

The 1 hour AUDJPY chart below is from 3/26/2021. The pair reached the blue box down from the blue wave (3) peak. In blue wave (4), the pair subdivided into red A-B-C zig zag . As one would expect, red waves A and C were impulse waves. In red wave B, we have another ((a))-((b))-((c)) zig zag, albeit smaller in size to the one described earlier. At the blue box, the pair reacted at 82.297 blue wave (4) low. While above there, we expect the pair to trade higher. Long positions from the blue box were already runnig risk free as at 3/26/2021.

Elliott Wave 1 hour chart from 3/26/2021 Asia Update AUDJPY

In the chart below, which is from 3/27/2021 weekend update, we see further separation higher from the blue box. We propose that black wave ((i)) completed at around 83.033 area. Wave ((ii)) is also proposed completed around 83.369 area. While the pair remains above black wave ((ii)) low, we expect it to continue rallying to the upside.

The recent price structure on the chart below, shows the pair in black wave ((iii))). Usually, third waves are extented relative to first waves. The extension of a third wave is confirmed once the relationship between the first and the third wave exceeds 161.8%. This measurement is achieved by use of a Fibonacci extension tool. We expect black wave ((iv)) and ((v)) to follow thereafter, and complete red wave 1. A break above blue wave (3) peak shall confirm the next leg higher in (5). However a break below 82.297 will suggest a double correction lower in (4). The right side, though; is upside.

Elliott Wave 1 hour chart from 3/27/2021 Weekend Update AUDJPY

Source: https://elliottwave-forecast.com/forex/audjpy-buy-dips-blue-box-areas/
 

Elliottwave-Forecast

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Feb 17, 2017
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One of the most misunderstood rules in Elliott Wave Theory is the overlap rule between wave 1 and 4. I have lost count how many times both members and non-members alike make a comment about our charts having an overlap between wave 1 and 4 and therefore it's wrong. This article attempt to explain the overlap theory so that hopefully more traders understand what this rule is all about. Before we explain further though, the short answer to the question is "YES". Overlap between wave 1 and 4 is allowed in a diagonal and it's actually pretty common as this structure happens everywhere. Let's take a look at the explanation below:

First of all, we need to understand what fractal means in Elliott Wave Theory. Fractal basically means that every wave is always part of a larger degree wave. Similarly, every wave can subdivide into smaller waves. Thus when you see an overlap between wave 1 and 4, the first question you need to ask is this: What's the larger degree wave of this overlapping 5 waves? This overlapping 5 waves must be part of another larger degree wave due to the fractal theory. So before you quickly jump into conclusion the count is wrong, you need to answer this question first. If the larger degree wave is either wave A, or wave C, or wave 1, or wave 5, then according to Elliott Wave Theory, you can have an overlapping 5 waves, and this overlapping wave is called a diagonal.

Secondly, within a 5 waves motive wave, understand there are two types: Impulse and diagonal. Impulse is what most beginner wavers understand to be 5 waves. Typically wave 3 in an impulse is the strongest and longest wave. The guideline suggests wave 3 is at least 161.8% Fibonacci extension of wave 1. Then wave 4 is a shallow pullback, typically between 23.6 - 38.2% retracement of wave 3. That's why wave 4 most of the time does not overlap with wave 1 in an impulse. A diagonal however looks like a wedge. In a diagonal (whether leading / ending diagonal), wave 1 can overlap with wave 4. In fact, overlap is the characteristic of a diagonal.

Thirdly, there are two types of diagonal: leading vs ending diagonal. The difference is only in the subdivision. In a leading diagonal, it's an overlapping 5 waves in which the internal is 5-3-5-3-5. Ending diagonal on the other hand is an overlapping 5 waves in which the internal is 3-3-3-3-3. In EWF, we don't make the distinction between leading or ending diagonal that much. Both of them however allow the overlap between wave 1 and 4. This diagonal (overlapping 5 waves) can happen in 4 different instances below:

Overlap Diagonal within Wave 1​



In the graph above, technically wave ((i)) and ((iv)) can overlap as it's the internal of wave 1 in larger degree. The graph above shows 5-3-5-3-5 subdivision in the diagonal, but it can also be 3-3-3-3-3.

Overlap Diagonal within Wave A​



In the graph above, wave ((i)) and ((iv)) also can have an overlap as it's the internal of wave A zigzag in larger degree. The graph above shows 5-3-5-3-5 subdivision in the diagonal, but it can also be 3-3-3-3-3

Overlap Diagonal within Wave 5​



In the graph above, wave ((i)) and ((iv)) can have an overlap as it's part of wave 5 in larger degree. This is what some people refer to as an ending diagonal. Again, we don't make that distinction in EWF. The graph above shows 3-3-3-3-3 subdivision in the diagonal, but we also accept in EWF if the subdivision is 5-3-5-3-5.

Overlap Diagonal within Wave C​



In the graph above, wave ((i)) can overlap with wave ((iv)) as it's the subdivision of wave C. It's showing a 3-3-3-3-3 subdivision in the diagonal, but it can also be 5-3-5-3-5.

When Overlapping is not Allowed​

With so many exceptions allowing an overlap between wave 1 and 4, so when exactly will overlap not allowed? There's only 1 instance where overlap between wave 1 and 4 is not possible. It's when the larger degree wave is a wave 3. When the larger degree wave is a wave 3, we can't have an overlap between wave ((i)) and ((iv)) in the smaller degree. But as you can see, out of 5 possible scenarios above, 4 allow an overlap, and only 1 doesn't allow overlap. Thus, overlap is not that big of a deal in Elliott Wave Theory since a diagonal can happen in 4 out of 5 possible places.

Source: https://elliottwave-forecast.com/elliottwave/can-wave-4-overlap-wave-1/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Orange Juice is a liquid extract of the orange tree fruit which is produced by squeezing or reaming oranges. It became a standard consumption good in the world but the juice is not everywhere the same. Indeed, there are important differences in the way how the companies produce it.

Besides the most natural freshly squeezed unpasteurized juice, one distinguishes two major processed forms of the latter. The first is the"not from concentrate" (NFC) juice which is being pasteurized and then sold to consumers. The second is the frozen concentrated orange juice (FCOJ) which is also pasteurized, but then evaporated and frozen. Reconstitution of the jucie occurs by adding water to the freshly thawed FCOJ. As a matter of fact, FCOJ was developed 1948 at the University of Florida. Since then it has emerged as a soft commodity and future contracts have traded in New York since 1966.

Even though the market share of the NFC juice has surpassed that of the FCOJ in 1980s, the easy-to-ship FCOJ remains the industry's benchmark. Today, one can trade Orange Juice futures at New York Board of Trade in contracts of 15'000 pounds of juice solids under the ticker OJ.

Currently, we see other soft commodities like coffee, cocoa and sugar turning higher after a long period of depressed prices. Based on the correlation within group of softs, one should expect the orange juice to turn higher as well. In particular, wave structure of OJ #F supports that bullish view. Will orange juice become another expensive basic food?

Orange Juice Monthly Elliott Wave Analysis 03.28.2021​

The monthly chart below shows the FCOJ front contract OJ #F at NYBOT (e-Signal ticker: JO). From the important low in May 2004, the prices have developed a cycle higher in blue wave (I) of a super cycle degree. Hereby, wave (I) has demonstrated a leading diagonal pattern and has ended in October 2016 at 227.50. From the all-time highs, a correction lower in wave (II) has unfolded as an Elliott Wave double three pattern. In 2.5 years, OJ #F has become cheaper by 60% reaching 90.60 level. It is the preferred view that an important bottom in May 2019 has been set and the correction has ended. From the lows, a new rally in prices within blue wave (III) may have already started.

For 2021-2030, the expectations are to break to the new all-time highs. The target for wave (III) will be 264.00-371.20 area. From current levels, the orange juice can, therefore, double to tripple in price.

Orange Juice Elliott Wave Monthly

Orange Juice Weekly Elliott Wave Analysis 03.28.2021​

The weekly chart below shows in more detail the decline lower in wave (II) and the first stages of the wave (III). From the 90.60 lows, we see the advance higher as a leading diagonal in wave ((1)) ended at 132.00 highs. From there, a correction lower in wave ((2)) may be still in progress. While below 129.50 highs, it can see 102.70-90.60 area, before turning higher again.

Investors and traders can be, therefore, looking to buy FCOJ in a pullback from 102.70-90.60 area. While short-term target will be above 132.00, in a long-term, investors can be looking towards 264.00-371.20 area.

Orange Juice Elliott Wave Weekly

Source: https://elliottwave-forecast.com/commodities/orange-juice-prices-climb-higher/
 

Elliottwave-Forecast

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Feb 17, 2017
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Since the crash of March 2020, all stocks have tried to recover what they lost and P&G was no exception. P&G did not only recover the lost, but It also reached historic highs. Now, we are going to try to build an impulse from wave II with a first target to $154.00 next $167.50 and $174.00.

P&G Daily Chart​

P&G Daily Chart

As we see in the daily chart, P&G built an impulse ((1)), ((2)), ((3)), ((4)), and ((5)) that we call I in red and it ended at 146.92. Since November, the stock has dropped only. We see 3 waves down ((W)), ((X)) and we were looking for a little more lower to complete wave ((Y)) and II, as a double correction, to 120.68 – 114.52 area. (If you want to learn more about Elliott Wave Theory, please follow this link: Elliott Wave Theory).

P&G Daily Chart The market made a new low, but it was not enough to reach the area and bounced from 121.54 dollars. The rally has been interesting and it should continue higher to complete wave ((1)). Our first target now is 154.00 dollars.

P&G 30 minutes Chart​

P&G 30 minutes Chart

In the beginning of March, we were expecting 2 lows more to complete wave (C), ((Y)) and II, but P&G just made one and rebounded nicely.

P&G 30 minutes Chart

From the bottom, P&G developed impulse after impulse making a nest. That means we need to continue with the uptrend until we find out some separation to determinate where the first wave (iii) is going to end. In this week we should see this move to the upside on Monday and then continue going up with divergences until wave ((1)) completes.

Source: https://elliottwave-forecast.com/stock-market/pg-bounced-nicely-missing-ideal-entry/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of DAX index published in members area of the Elliottwave-Forecast . As our members know, DAX has been giving us a lot of good trading opportunities recently. The index is showing bullish sequences in the cycle from the March 2020 low. So DAX remains bullish against the 13314.6 pivot. Recently we got short term pull back that has given us opportunity to enter long trades again. In further text we’re going to explain the forecast and trading strategy.

DAX 1 Hour Elliott Wave Analysis 3.24.2021​

DAX completed5 waves in the short term cycle from the 13669.4 low, and now correcting it. Wave 4 red pull back looks incomplete at the moment. Current view suggests pull back can be still unfolding as Elliott Wave Zig Zag pattern. As far as the price stays below last short term high - ((b)) black, we can get more downside in ((c)) leg toward 14443.09-14279.5 area. At that zone we would like to be buyers , looking for further rally toward new highs ideally. We don’t recommend selling the index in proposed leg down. As the main trend is bullish, we should get 3 wave bounce at least from the Blue Box buyers zone. Invalidation level for the trade would be break below 1.6148 fib extension (14279.5)

As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a bounce.

You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

DAX

DAX 1 Hour Elliott Wave Analysis 3.29.2021​

DAX made extension down and found buyers at 14443.09-14279.5 area , as we expected. We got nice rally from the buying zone, when the price break above previous peak. Break above 3 red peak suggests next leg up is in progress. The index is now bullish against the 14426.14 low in first degree.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.

DAX

Elliott Wave Forecast
Source: https://elliottwave-forecast.com/trading/dax-elliott-wave-buying-opportunity/
 

Elliottwave-Forecast

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Feb 17, 2017
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The Clean Energy sector has been just as hot as the EV sector in 2020. Both sectors appear to move together in some degrees. Polar Power is one of those companies that has exploded off the March 2020 low, moving from 95 cents to a high of 30.82 in early 2021. This represents a 3300% advance. As far as this company has rallied, the chart is favouring another leg higher. Lets take a look at their company profile:

“Polar P0wer designs and manufacture power and cooling systems for targeted market applications. In particular, they offer DC power systems, DC hybrid power systems, and DC solar hybrid power systems for telecommunications, military, renewable energy, marine, automotive and oil field applications. Polar Power solutions provide reliable and low-cost energy for applications that do not have access to the utility grid or will continue to power applications in the event of utility grid failure.”

Lets dig into the charts!

Polar Power Elliottwave View:​

Polar Power

Medium term term view from the all time low in March 2020. This stock rallied in a leading diagonal structure for ((1)) before pulling back in ((2)). After that, a powerful impulse wave took place. From the ((2)) low at 3.71 it was non stop advance into the peak at at 30.82 on January 25/2021. This is labeled as Red I on the chart above. After this peak, a large pullback has taken place to correct the entire cycle from March 2020 low. This pullback was structured as 3 waves pullback which reached the extreme area (blue box) at 9.05. After prices breached the blue box, buyers entered into the market for a bounce.

At this present time, the structure off the 7.97 Red II low set on March 5 is looking like a double nest. This is labeled above as Blue (1) (2), Red 1 2. It should be noted however, that until prices exceed the January high, this advance may simply be a large corrective bounce before moving back lower again. But at this time, further extension higher is favoured.

In Conclusion, as long as the Red II low remains intact, prices can advance in a Red III higher. Consequently, Red III can reach the equal leg area of 37.88 to 56.37 before pulling back in the longer term.

Source: https://elliottwave-forecast.com/stock-market/polar-power-pola-ready-move-higher/
 

Elliottwave-Forecast

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Feb 17, 2017
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45 Minutes Elliott Wave chart below suggests AUDJPY ended wave (4) pullback at 82.26 in the blue box area. This area is the 100% - 161.8% Fibonacci extension area from wave (3) peak at 85.449. Pair has since turned higher in wave (5). The internal subdivision of wave (5) is unfolding as a 5 waves impulse Elliott Wave structure. Up from wave (4), wave ((i)) ended at 83.04, and pullback in wave ((ii)) ended at 82.34. Pair has resumed higher in wave ((iii)) towards 84.28, and dips in wave ((iv)) ended at 83.667. Final leg higher wave ((v)) of 1 ended at 84.488.

Pair then pullback and ended wave 2 at 83.4. It has turned higher in wave 3 and it is close to breaking above the previous wave 1 peak at 84.488. Break above that level should confirm the next leg higher in wave 3 has already started. Near term, expect wave ((i)) to end soon, then pair should pullback in wave ((ii)) before the rally resumes. As far as pivot at 83.4 low stays intact, expect wave ((ii)) dips to find support in 3, 7, or 11 swing for more upside.

AUDJPY 45 Minutes Elliott Wave Chart​

Source: https://elliottwave-forecast.com/news/elliott-wave-view-audjpy-resumes-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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In this technical blog, we are going to take a look at the past performance of 4 hour Elliott Wave Charts of XLV, which we presented to members. In which, the rally from 23 March 2020 lows, showed the higher high sequence in an impulse structure favored more strength to take place. Also, the right side tag pointed higher & favored more strength. Therefore, we advised our members to buy the dips in XLV in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

XLV 4 Hour Elliott Wave Chart​

XLV Reacted Higher From The Elliott Wave Blue Box Area

Above is the XLY 4 hour Elliott Wave Chart from the 2/22/2021 update. In which, the rally from 23 March 2020 low unfolded as 5 waves impulse structure, whereas wave ((2)) ended at $100.30 low. Up from there, wave ((3)) unfolded as another 5 wave structure when wave (1) ended at $103.73 high. Wave (2) ended at $102.41 low, wave (3) ended at $114.50 high. Wave (4) ended at $107.84 low and wave (5) ended at $119.18 high and completed wave ((3)).

Down from there, the ETF made a wave ((4)) pullback to correct the cycle from the 10/30/2020 low before the upside resume. The internals of that pullback unfolded as an Elliott wave zigzag structure where wave (A) ended at $113.63 low. Wave (B) bounce ended at $117.63 high and wave (Y) was expected to reach $112.04- $108.57 100%-161.8% Fibonacci extension area of (A)-(B). Before providing a buying opportunity looking for more upside or for 3 wave reaction higher at least.

XLV 4 Hour Elliott Wave Chart​

XLV Reacted Higher From The Elliott Wave Blue Box Area

Here’s the latest 4 hour Elliott Wave Chart from 04/03/2021 Weekend update, in which the ETF managed to reach the blue box area at $112.04- $108.57 & showing reaction higher taking place from the blue box area. Allowed members to create a risk-free position shortly after taking the longs at the blue box area. However, a break above $119.18 high still needed to confirm the next extension higher & avoid double correction lower.

Source: https://elliottwave-forecast.com/stock-market/xlv-reacted-higher-elliott-wave-blue-box/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Since the crash of March 2020, all stocks have tried to recover what they lost, and Disney was no exception. Disney did not only recover the lost, but It also reached historic highs. Now, we are going to try to build an impulse from the March 2020 lows with a target around $230. Target measured from 0 to 2019’s high projected from March’s low, equal legs. Since we begin with this analysis on February 13th, we bought the share in 160.97 - 165.89 area.

Disney Daily Chart

Disney Daily Chart As we see in the daily chart, the waves ((1)), ((2)) and ((3)) of the impulse are done. We hit our first target at 190.88. The target gave us a return of +18.58% from 160.97. Weeks ago, we change our mind about the current structure of Disney. We believed the stock had to fail the irregular flat structure as wave ((4)) and we changed to an ending diagonal to complete ((3)) and then wait for the correction.

Last week, Disney dropped showing us that original idea of the irregular flat took place and even more the wave ((4)) could be ended at 180.14. Therefore, we should continue with the rally as we suggest for the next 2 months. Keep an eye that It is especially important to stay above around 180.00 dollars because a clear breaking of this zone could send Disney to retest 160.00 before reach 230.00. (If you want to learn more about Elliott Wave Theory, please follow this link: Elliott Wave Theory).

Source: https://elliottwave-forecast.com/stock-market/disney-failed-diagonal-flat-played-out/
 

Elliottwave-Forecast

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Feb 17, 2017
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In this blog, we take a look at BABA's almost perfect reaction lower from the recent blue box. Let us take a look at the 1 hour chart from 3/29/2021. BABA ended a cycle correction at 241.60 peak for red wave B. Down from there, the stock made a five wave impulse decline in black wave ((i)) at 217.61. Internally, we had blue waves (i) to (v) in ((i)). And each of the waves (i) to (v) also subdivided into impulse waves. Blue wave (iii) was in excess of 261.8% extension of blue wave (i) related to wave (ii). Therefore, wave (iii) was extended.

We naturally expect black wave ((ii)) to correct the impulse in ((i)). Up from the 217.61 black wave ((i)) lows, we see 3 swings in ((ii)). We expected black wave ((ii)) to reach the blue box and turn lower.

Elliott Wave 1 hour chart 3/29/2021 Midday Update

The 1 hour chart below is from 4/1/2021. On it, we see a reaction from the blue box. Short positions from the blue box were already running risk free. We expect BABA to continue lower. We expect the stock to break below 217.61 black wave ((i)) levels in order to confirm the next leg lower in black ((iii)). Our initial target is at least the length for ((iii)) to reach the 100% equal legs of wave ((i)). Since we are anticipating wave ((iii)), we would typically expect an extension to occur. However, wave ((i)) appears to have extended. Therefore, we may not see an extention in wave ((iii)).

Elliott Wave 1 hour chart 4/1/2021 Midday Update BABA 1H

Source: https://elliottwave-forecast.com/stock-market/baba-sellers-blue-box-reacts-lower/
 

Elliottwave-Forecast

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Feb 17, 2017
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$FXA Longer Term Cycles and Elliott Wave Analysis

The FXA ETF fund is the Australian dollar tracking fund that has an inception Date of 06/21/2006. With that said the fund mainly reflects the currency spot price of the AUDUSD forex pair. The data available from the Reserve Bank of Australia at their website suggests the spot price was 1.4875 back in 1973 to 1974 translates into an FXA price of around 148.75. The cycle analysis suggests a larger pullback cycle ended in March 2020.

Back before the FXA fund inception date, the AUDUSD spot currency price reached what is still the currency low in April 2001 at .4778. From there the currency pair went up in three swings until July 2011 at a high of 1.1080. That translates into the FXA ETF fund price high of 110.99 in July 2011. This is where the monthly Elliott wave analysis begins on the chart below.

The analysis continues below the monthly chart.





Secondly the decline from the aforementioned July 2011 highs does not seem legitimately able to count the whole cycle from there down to the January 2016 lows as a regular impulse by itself as a whole. The cycle lower in the red wave w has been subdivided as an ((A))-((B))-((C)) in black. The instrument has since then bounced in three swings. Further, this appeared to be a zig zag Elliott wave x in red that ended in January 2018.

Thirdly and in conclusion, since the wave x highs from January 2018 the instrument has declined in another Elliott Wave double three structure into the March 2020 lows. There it appears ended a larger pullback cycle. Lastly, from there it now appears the pair can correct the cycle up from the March 2020 lows. While a pullback remains above there it should trend higher again.

Source: https://elliottwave-forecast.com/stock-market/fxa-longer-term-cycles-and-elliott-wave-analysis/
 

Elliottwave-Forecast

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Feb 17, 2017
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Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of Soybeans Futures ( $ZS_F ) , published in members area of the website. As our members know, the commodity is showing impulsive bullish sequences in the cycle from the 808'5 low. We’ve been calling rally in the commodity , recommending members to avoid selling in any proposed pull back and keep buying the dips in 3,7,11 swings. Recently $ZS_F made pull back that has unfolded as Elliott Wave Zig Zag pattern . In the further text we are going to explain the Elliott Wave Pattern and Forecast

Before we take a look at the real market example, let’s explain Elliott Wave Zigzag.

Elliott Wave Zigzag is the most popular corrective pattern in Elliott Wave theory . It’s made of 3 swings which have 5-3-5 inner structure. Inner swings are labeled as A,B,C where A =5 waves, B=3 waves and C=5 waves. That means A and C can be either impulsive waves or diagonals. (Leading Diagonal in case of wave A or Ending in case of wave C) . Waves A and C must meet all conditions of being 5 wave structure, such as: having RSI divergency between wave subdivisions, ideal Fibonacci extensions and ideal retracements.

Hang Seng

Soybeans Futures ( $ZS_F ) Elliott Wave 4 Hour Chart 3.29.2021​

Soybeans Futures remains bullish and buy in a dips . Current (4) blue pull back is unfolding as Elliott Wave Zig Zag pattern with inner labeling: ABC red. We can see that wave A red shows impulsive 5 waves structures . Consequently we expect C red leg also to have 5 waves which is characteristic of Zig Zag Patterns. Pull back looks incomplete at the moment. We expect more downside toward 1366'6-1324'5 equal legs zone ( Blue Box). We favor the long side from the mentioned zone. As the main trend is bullish we expect buyers to appear for 3 waves bounce at least. As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a bounce.

You can learn more about Elliott Wave Zig Zag Patterns at our Free Elliott Wave Educational Web Page.

Soybens

Soybeans Futures ( $ZS_F ) Elliott Wave 4 Hour Chart 4.4.2021​

Eventually the commodity made extension down toward blue box area 1366'6-1324'5 and found buyers as we expected. Pull back ended slightly below the 100% extension at 1364'4 low . We got nice reaction from the blue box, which exceeded above B red peak, so member who opened long positions are risk free . We would like to see further extension higher and break above (3) blue peak (03/08) to confirm next leg up is in progress. Alternatively if 1364'4 pivot gives up double in (4) will be seen.

Keep in mind that market is dynamic and presented view could have changed in the mean time. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room. You can check most recent charts in the membership area of the site.



Soybeans

Elliott Wave Forecast
Source: https://elliottwave-forecast.com/elliottwave/soybeans-elliott-wave-zigzag/
 

Elliottwave-Forecast

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Feb 17, 2017
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2020 has brought about a lot of changes in the world. Pet care has exploded as people have been locked down in their homes looking for company. Playing off that trend is Zomedica Corp. As a result, this stock has rallied from a low of 6 cents in November 2020, to a peak of $3.00 on February 11. What does Zomedica Do? Lets take a look at their company profile:

"Zomedica is an animal health company focused on meeting the needs of clinical veterinarians in ways that promote both patient and practice health. Our mission is to advance the effectiveness and financial well-being of veterinary practitioners by delivering professionally beneficial diagnostic products and services.

Our team is comprised of clinical veterinarians, animal health professionals, innovative scientists, and business experts committed to helping practicing veterinarians remember why they chose to care for animals and recapture the joy in their career.

We recognize the emotional rewards that come from working in the animal care industry, the sacrifices made in fulfilling the noble veterinary oath, and the challenges impacting veterinarians’ success."


Their flagship Truforma Platform has recently had its first commercial sale in March 2021. Lets take a look and see what the chart says about this company.

Zomedica Corp Elliotwave View:

Zomedica

Medium term term view from the all time low in November 2020. Zomedica is favoured to have 5 swings into the peak into Red I on Feb 11, 2021 @ a high of 3.00. After that, a very technical correction has taken place. It is favoured that this stock is in the final swings of forming a low at the blue box extreme area. What is the blue box? It is an area where algo's are programmed to react for a bounce (if bullish) or profit taking (if bearish). Consequently, Zomedica has reached the blue box extreme while correcting a bullish impulse off the November 2020 low. In addition, prices at the 100% blue box top at 1.18, is matching the 61.8 retrace of the whole advance. As a result, these types of fib confluences can give higher odds to a low to take form.

In Conclusion, there is room for one more low, but the stock doesn't have to. It has already entered into the blue box and found a bounce. It is favoured this stock will get at least a 3 swing bounce from this area. If not start the next leg higher.

Source: https://elliottwave-forecast.com/stock-market/zomedica-corp-zom-reaching-blue-box-extreme/
 

Elliottwave-Forecast

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Feb 17, 2017
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Clean and renewable energy goes hand in hand with the EV sector in 2020. VivoPower has its hand in both sectors and has had an explosive move off the March 2020 low. This stock moved from 59 cents to a peak of 24.33 which is about a 4100% move. It would make sense that the stock needs a prolonged cool down period of profit taking before the next leg higher can materialize. Before we get into the technicals, lets take a look at what they do as a company:

“Through our subsidiary companies, VivoPower provides a comprehensive suite of sustainable energy solutions, encompassing electric vehicles, solar systems and battery technology, including microgrids, along with critical power services. Tembo's Electric Light Vehicle (ELV) are the premier 100% electric solution for ruggedized mining, industrial and commercial applications. Vivo Solar builds battery storage systems and microgrids. Kenshaw is a leader in critical electrical power and mechanical services. And J.A. Martin is specialized in industrial electric engineering and power services.”

Lets dig into the charts!

VivoPower Elliottwave View:​

VivoPower

Medium term term view from the all time low in March 2020. This stock took its time for the momentum to kick in. After ((2)) set in June, things really started to heat up. Wave ((3)) peaked at 14.84, rallying from ((2)) low at 1.27. After ((3)) peaked, a sharp ((4)) took place which didn't last long before the surge in ((5)) took place. In the end, ((5)) of Red I peaked at 24.33 on October 9th 2020 and the stock has been correcting every since that time.

It is currently favoured that the structure needs another low to complete the sequence from the peak. The equal leg extreme, or blue box as we like to call it, goes too low to be a reliable target. It is hard to predict at what price VivoPower may find a low at this juncture. However, it does appear that at least one more low below ((A)) of Red II is needed to complete the corrective sequence from the Red I peak.

In Conclusion, as long as ((B)) high remains intact, prices can grind lower before resuming the upside.

Source: https://elliottwave-forecast.com/stock-market/vivopower-international-vvpr-close-longer-term-low/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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$FXC Canadian Dollar Trust Elliott Wave & Long Term Cycles

Firstly the FXC instrument inception date was 6/26/2006. The instrument tracks changes of the value of the Canadian dollar relative to the U.S. dollar. It increases in value when the ‘loonie’ strengthens and declines when the dollar appreciates. In January 2002 the USDCAD forex pair made an all time high at 1.6184. Then it saw a decline into the November 2007 lows at .9059 where it is thought to have ended correcting the cycle up from the all time lows. That translates to the 113.02 price high from November 2007 in FXC. This is where the analysis begins on the FXC monthly chart shown below. The analysis continues below the FXC Monthly chart.



Secondly as previously suggested the FXC instrument mirrors USDCAD price highs and lows inversely. The decline from the November 2007 highs in FXC appears to be a complete Elliott Wave five wave impulse although it does have some price overlap as would a diagonal. The wave III ended in January 2016 then saw a zig zag wave structure in wave IV that ended in September 2017 correct the cycle from the July 2011 wave II highs.

In conclusion: As the chart suggests, the instrument appears ended a larger cycle lower in wave V of (C) to complete a flat wave ((B)) in March 2020. The bounce from there can be corrected at any time however as of this point in time it appears incomplete and can see some further strength toward the 83 to 84 area before it corrects the cycle up from the March 2020 lows. While above the March 2020 lows it should resume higher again.

Source: https://elliottwave-forecast.com/st...n-dollar-trust-elliott-wave-long-term-cycles/