Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
As little as a year ago, Microstrategy wasn't associated with the Crypto Currency sector. They were, and still are, a cloud based software company. However, investor focus changed in August of 2020 when they announced a major shift into Bitcoin investments. lets take a look at what they do:

“Founded in 1989 by Michael J. Saylor, Sanju Bansal, and Thomas Spahr, the firm develops software to analyze internal and external data in order to make business decisions and to develop mobile apps. It is a public company headquartered in Tysons Corner, Virginia, in the Washington metropolitan area. Its primary business analytics competitors include SAP AG Business Objects, IBM Cognos, and Oracle Corporation's BI Platform. Saylor is the CEO and chairman of the board.

In August 2020, MicroStrategy invested $250 million in Bitcoin as a treasury reserve asset, citing declining returns from cash, a weakening dollar and other global macroeconomic factors. The company made several additional large purchases of Bitcoin later in the year; in total the company spent over $1 billion purchasing Bitcoin in 2020 at an average purchase price of about $15,964 per Bitcoin. Michael J. Saylor is the main driver behind this strategy.”


Lets dig into the charts and see what they say!

Elliottwave View Monthly:

microstrategy

Microstrategy longer term chart since the low in 2002 shows the bigger picture at play. The stock appears to have recently peaked in a wave III and now correcting in IV. There is still more upside favoured before correcting the whole cycle from the low in 2002 low as long as the red II low @ 90.00 remains intact. It is important to know the whole structure of an instrument in longer cycles before judging the shorter cycle view. Lets zoom into the daily view since the March 2020 low.

Elliottwave View Daily:

microstrategy

Microstrategy medium term term view from the low in March 2020. There is enough evidence to support that the recent high at 1315 was a wave III peak. Prices are now favouring to be correcting the cycle from the March 2020 low. Normally, a 100% extreme area can be used to judge where a correction can end. In this case the price swings are too large to use that method. Taking elliottwave and momentum into consideration, prices appear to be close to forming a low. More minor downside can take place before resuming the rally higher.

In Conclusion, Red IV is still favoured to be underway. As long as prices remain above 90.00 level, further upside is favoured.

Source: https://elliottwave-forecast.com/stock-market/microstrategy-mstr-correction-nearly-complete/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
Nel ASA is a Norwegian heavy electrical equipment company. It provides solutions for production, storage and distribution of hydrogen from renewable energy sources. Founded in 1927 and headquartered in Oslo, Norway, it can be traded under the ticker $NEL at Oslo Stock Exchange. Nel is a part of OBX25 index.

Nel ASA Weekly Elliott Wave Analysis 05.21.2021​

The monthly chart below shows the Nel stock $NEL traded at Oslo Stock Exchange. From the all-time lows, the stock price has developed a cycle higher in blue wave (I) of a super cycle degree. Nel has printed the all-time highs in January 2021 at 35.15. Without any doubt, the advance is a textbook quality impulsive move up in 5 waves. Hereby, the red wave III shows a clear subdivision in five waves. Also, within the black wave ((3)), one can distinguish five waves. It is a well-known fact, that the market does not trade in a straight line. Indeed, after 5 waves higher, a pullback in at least 3 waves lower should take place. Only then, a new cycle higher can start.

From January 2021 highs, on can see a zigzag correction in the blue wave (II). Hereby, red waves a and b have already ended. Now, wave c of (II) is in progress and can reach lower towards 13.11-4.42 area. From there, a new cycle in wave (III) should start or a bounce in 3 waves at least should take place. Investors and traders can be looking to buy Nel from 13.11-4.42 area targeting the new all-time highs.

Nel ASA Elliott Wave Weekly

Source: https://elliottwave-forecast.com/stock-market/nel-asa-new-bullish-cycle/
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Hello fellow traders. As our members know Indexes have been giving us a lot of good trading opportunities recently. One of them is Eurostoxx ( SX5E) Index from Group 2. In this technical blog we’re going to take a quick look at the Elliott Wave charts of SX5E published in members area of the website. As our members know, Eurostoxx is showing bullish impulsive sequences. Consequently we were calling for more strength in the Index, suggesting members to avoid selling it and keep on buying the dips in 3,7,11 swings. In further text we’re going to explain Elliott Wave Forecast and how we traded the instrument.

Eurostoxx 4 Hour Elliott Wave Analysis 5.4.2021​

Eurostoxx is giving us pull back 4 red that has reached its equal legs area at 3928.4-3862.9. As our members know Blue Boxes are no enemy areas , giving us 85% chance to get a bounce. Strategy is buying the dips at blue box area. As Eurstoxx is bullish against the 3474.5 low , we expect to see 3 waves bounce at least from the blue box: 3928.4-3862.9 As soon as the price reach 50 Fibonacci Retracement against the ((x)) black peak, we should make long positions Risk Free. We will put SL at BE and book partial profits.

STX Eurostoxx 4 Hour Elliott Wave Analysis 5.12.2021​

Eurstoxx found buyers and gave us nice reaction from the blue box. Bounce broke above 50 fibs against the connector so we put SL at BE and booked partial profits. Long trades are risk free at this stage. After bounce we got sharp decline lower , looking as 5 waves structure. We believe pull back is still in progress as 7 swings structure. The price structure is calling for more another swing down toward 3914-3837.8 area. At that zone we would like to be buyers again. Latest bounce we count as ((X)) connector. Strategy remains the same. We don’t recommend selling the index in any proposed pull back and favor the long side from the new blue box.

Eurostoxx

Eurostoxx 4 Hour Elliott Wave Analysis 5.20.2021​

Eurstoxx found buyers again at the next set of equal legs: 3914-3837.8. We got nice rally that allowed us to make position risk free and to book some partial profits again. As far as the price stays above 3858.6 low, we believe 4 red pull back is completed there and next leg up can be in progress. Alternatively if the price breaks 3858.6 low , the index will open possibility for more short term weakness in near term.

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.

Eurostoxx

Elliott Wave Forecast
Source: https://elliottwave-forecast.com/trading/eurostoxx-sx5e-buying-dips-extremes/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
Hello fellow traders. Another instrument that we have been trading recently is Facebook from Group 3 . As our members know, Facebook is showing bullish impulsive sequences within the cycle from the January 244.5 low, calling for further rally. Consequently we expected the Stock to find buyers in 3 ,7,11 swings. Recently we got pull back that unfolded as Elliott Wave Zig Zag pattern. In the further text we are going to explain the Elliott Wave Pattern and the trading strategy.

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

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.



Facebook

Facebook Elliott Wave Analysis 05.11.2021​

$FB is doing wave ((4)) pull back that is having form of Elliott Wave Zig Zag pattern. First leg (A) blue unfolded as 5 waves down from the peak. Then we got 3 wave bounces in wave (b) and finally, we’re doing last leg down (c) black. Pull back has reached extreme zone at 306.79-294.67 ( buyers area) and can complete any moment. We don’t recommend selling it and 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 soon as the price reaches 50 Fibs against the (B) blue peak, we will make long positions risk free. In worst case if 1.618 fib ext level gets broken ( 294.67) we will be stopped out. 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.

Facebook

Facebook Elliott Wave Analysis 05.14.2021​

Buyers appeared at the blue box- buying zone and we are getting reaction. Bounce is still shallow at the moment but we believe the stock ended 3 waves down from the peak. We would like to see further separation from the current low. As soon as the price reaches 50 fibs against the B red we will make long positions from the blue box risk free.

Facebook

Facebook Elliott Wave Analysis 05.24.2021​

We got further separation from the lows as expected. Members who took long trades are now enjoying profits in a risk free positions. Cycle from the May 12th low looks like corrective 3 wave sequences. Break of 332.7 peak would suggests next leg up is already in progress, otherwise as far as the price stays below that level, 7 swings in the deeper pull back cannot be ruled out.

Keep in mind 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.

Facebook

Elliott Wave Forecast
Source: https://elliottwave-forecast.com/trading/facebook/
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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.

JNJ Old Daily Chart

JNJ Old Daily Chart

In the last chart we can clearly see that after the fall of March 2020, JNJ had a strong and rapid recovery in 3 swings. The 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)) and from here it should continue higher to complete wave ((5)) as a diagonal. (If you want to learn more about Elliott Wave Theory, please follow this link: Elliott Wave Theory).

JNJ Daily Chart

JNJ Daily Chart  As days passed, the share price continued to rise until reaching 167.12, which we call wave (1). From there, we have a clear correction in a zig zag structure as wave (2) that bounced from a trendline. If this trendline is good, then JNJ should continue higher to complete wave (3). Short term, the wave (3)’s structure is not clear, it must follow with the trend, but we can not rule out a pullback before. Either way, next step we should see 176.31 – 178.78 area.

Source: https://elliottwave-forecast.com/stock-market/jnj-pushing-higher-end-wave-3/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
The Metals sector has been slowly coming back since the lows in late 2015 and is ready for prime time attention after Gold made new all time highs in August 2020. Kore Mining Ltd. is a gold exploration company. As such, has a very volatile chart but overall, follows the Gold spot market fairly close. Lets take a look at the company profile:

"KORE Mining Ltd is 100% owner of two advanced gold exploration and development assets in California, USA – Imperial and Long Valley. It is supported by strategic investor Eric Sprott (26% ownership), who alongside KORE management and Board (38% owners), are aligned with shareholders in creating per share value. KORE is preparing its Imperial Gold project for mine permitting while also aggressively exploring the two district scale claim areas at the Imperial and Long Valley gold projects."

We are going to take a look at chart on OTC market since setting the low in March 2020. The OTC ticker is $KOREF and the the Canadian Symbol is $KORE which is listed on the CVE in Canada.

Kore Elliottwave View:​

Kore

Since the March 2020 lows, the count in Kore is showing a clear impulsive structure into the August 2020 peak. Red I is favoured to have set at 1.48 on August the 5th.. After that, Red II has taken shape as an expanded flat correction. This is a correction in which the B wave travels higher than the initial peak in Red I. After ((B) was set on Dec 22/2020, ((C)) of Red II took shape as an impulse lower. Red II is favoured to have set a low at 0.617. Currently prices are favoured to be pulling back in (2) blue before moving higher.

Source: https://elliottwave-forecast.com/stock-market/kore-mining-ltd-koref-kore-ready-upside/
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In this technical blog, we will look at the past performance of 1 hour Elliott Wave Charts of Bank of America ticker symbol: BAC, which we presented to members at the elliottwave-forecast. In which, the rally from 25 March 2021 low ended 5 waves impulse rally in a lesser degree cycle and made a pullback lower. And we knew that the structure is incomplete for 1 more high at least to complete the 5 waves sequence & it should see more strength. Therefore, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

BAC 1 Hour Elliott Wave Chart​

BAC Elliott Wave View: Forecasting The Wave 4 Pullback

Above is the 1hr Elliott wave chart of BAC from 5/13/2021 Post-Market update. In which the rally to $42.94 high ended the cycle from 3/25/2021 low in 5 waves structure within wave 3. Down from there, the stock made a pullback in wave 4. The internals of that pullback unfolded as Elliott wave zigzag structure where wave ((a)) ended at $41.37 low. Wave ((b)) bounced ended as a lesser degree flat structure at $42.56 high and wave ((c)) was expected to reach the $40.82- $39.75 blue box area. From where next leg higher was expected to take place looking for a new high ideally or for a 3 wave bounce at least.

BAC Latest 1 Hour Elliott Wave Chart​

BAC Elliott Wave View: Forecasting The Wave 4 Pullback

Here's the latest 1hr chart from 5/26/2021 Post-Market update. The BAC is showing a strong reaction higher taking place from the blue box area after ending the zigzag correction within wave 4 at $40.70 low. Allowed members to create a risk-free position shortly after taking the long positions at the blue box area.

Source: https://elliottwave-forecast.com/stock-market/bac-forecasting-wave-4-pullback/
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United States Oil Fund Elliott Wave & Long Term Cycles $USO

Firstly the USO instrument inception date was 4/10/2006. CL_F Crude Oil put in an all time high at 147.27 in July 2008. USO put in an all time high at 953.36 in July 2008 noted on the monthly chart. The decline from there into the February 2009 lows was in three swings. An a-b-c in red although it was a very steep pullback.

Further, the bounce from the 2009 lows is a complex double three combination with a triangle “y”. This is w-x-y in red to end the blue wave (x). In either a bullish or bearish market this particular structure always makes a high or low in the initial wave “w”. After a wave “x” correction, structures like this will be followed by a contracting or running triangle. In this case the structure ended in June 2014. The decline from those highs were very sharp again. As can be seen, this was in three swings again a-b-c in red to end the blue wave (y). This completed a three swing correction (w)-(x)-(y) in blue from the July 2008 highs.

The analysis continues below the USO Monthly chart.



Secondly CL_F Crude Oil and the USO instrument as previously mentioned made an all time high back in July 2008. Each of the cycles appears to have declined in three big swings into the February 2016 lows. In the case of USO the price was 61.36. The bounce into the October 2018 highs was three swings again. The analysis continues below the USO Weekly chart.



In conclusion: The USO mirrors CL_F Crude Oil. The bounce from the February 2016 lows into the October 2018 highs appeared to have been a zig zag. Further this is a second (x)(x). As can be seen the decline from the October 2018 highs to the December 2108 lows was five waves and labeled “a”. There was a bounce that failed in April 2019 labeled “b”. Wave “c” made new lows in April 2020. Lastly the bounce from there appears impulsive. While pullbacks remain above the April 2020 lows expect it turning higher again.

Source: https://elliottwave-forecast.com/st...s-oil-fund-elliott-wave-long-term-cycles-uso/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
In this blog, we take a look at IBEX short term view.

From the 1 hour chart below, IBEX completed a bullish cycle at around $9135 area for red wave 3. Up from black wave ((ii)) lows at $8426.01 , we see an advance in five swings as an impulse. The impulse completed black wave ((iii)), Naturally, a pullback lower in black wave ((iv)) followed. This pullback unfolded as an expanding flat correction denoted a-b-c in red. Pursuant to the correction in black wave ((iv)), we saw another five swings higher, labelled blue (i)-(v); in black wave ((v)) . This completed red wave 3.

Down from red wave 3 peak, we saw a decline lower into the blue box. The decline subdivided into black waves ((a))-((b))-((c)) zig zag. Thus, completing red wave 4 in the blue box area. Although not shown, black waves ((a)) and ((c)) would subdivide into lower degree (i)-(v), each as an impulse wave, as per Elliottwave theory. Black wave ((b)) would serve as a connector. The right side was upside against $8426.01 lows. We also had a bullish sequence. Therefore, we preferred the long side from the blue box area.

Elliottwave 1 Hour Chart From 5/13/2021 IBEX



The one hour chart from shows a sharp reaction higher from the blue box. Long positions from the blue box were already running risk free as at 5/17 during the London update. We proposed black wave ((i)) already completed. Inherently, we expected a pullback lower in black wave ((ii)), before more upside could resume. However, the anticipated pullback lower in black wave ((ii)) should find support above $8804.10 low, before turning higher in ((iii)).

Elliottwave 1 Hour Chart From 5/17/2021 IBEX

Indeed, the recent 1 hour chart from 5/25/2021 shows a pullback lower in ((ii)) as expected. Furthermore, the pullback found support above $8804.10 lows. We see the index advancing further higher, and we expect it to continue towards $9410.70 equal leg area at least, before pulling back for more short term upside. We do not prefer or propose selling any of the anticipated pullbacks, as the right side remains upside.

Elliottwave 1 Hour Chart From 5/25/2021 IBEX

Source: https://elliottwave-forecast.com/stock-market/buying-dips-blue-box-ibex/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
After Gold made new all time highs in August 2020 the precious metals sector got a much needed incomplete bullish sequence confirmation. Aftermath Silver Corporation is in a good spot to take advantage of possible USDX weakness, and precious metals strength in the future. It is a penny stock, and as such, has a very volatile chart. Aftermath Silver is a Jr precious metals exploration company that has a nice chart structure to it.

With that in mind, we are going to take a look at chart on OTC market since setting the low in May of 2019. The OTC ticker is $AAGFF and the the Canadian Symbol is $AAG which is listed on the Venture Exchange in Canada.

Aftermath Elliottwave View:​

Aftermath

The OTC chart has reliable data only going back to May 2019 low. From that low a wave ((1)) was set on Jan 3, 2020 at 0.42. After that, an all too common occurrence in many instruments. The correction into the March 2020 low where ((2)) is set. From there a very impulsive rally took hold. This brought the stock price from ((2)) low @ 0.06 to a peak of 1.37 in January 2021. After that, an ABC correction has taken place into the blue box equal leg extreme where a low is favoured. The blue box is an area where a reaction can take place in 3 waves at least. Moreover, these areas can provide a high probability trade reaction.

In conclusion, as long as the recent Red II low holds, further upside is favoured to take place out of the blue box.

Source: https://elliottwave-forecast.com/stock-market/aftermath-aagff-aag-ca-reaching-blue-box/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
I like this thread and it is very usefull to read with a lot of information.
Thank you. Glad you like it.
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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 NZDJPY pair , published in members area of the website. As our members know NZDJPY is showing bullish sequences in the cycle from the March 2020 low . We’ve been calling rally in this forex pair. We recommended members to avoid selling in any proposed pull back and keep buying the dips in 3,7,11 swings. Recently NZDJPY made a 3 waves pull back that have given us a good buying opportunity . In the further text we are going to explain the Elliott Wave Pattern Forecast and Trading Strategy.

NZDJPY Elliott Wave 1 Hour Chart 5.14.2021​

The pair ended short term cycle from the 75.59 low as 5 waves structure. We assume 2 red pull back is in progress , having scope to reach approximately 50-61.8 fibs against the mentioned low. The pair made 5 waves down from the peak., suggesting we got only first leg of the pull back for now. We would need to wait for ((b)) bounce to complete, before we could measure ((a))-((b)) equal legs area, which will be potential buying zone. Don't recommend selling the pair in any proposed leg down and favor the long side against the 75.59 low.

NZDJPY

NZDJPY Elliott Wave 1 Hour Chart 5.17.2021​

The pair ended correction- ((b)) wave and now we are able to measure extreme zone, which will be good area to enter long positions. We believe that ((c)) leg is in progress toward 78.13-77.37 area, where we would like to be buyers. We don’t recommend selling and 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. Trading strategy is waiting for Equal legs: 78.13-77.37 (Blue Box) to be reached before buying the pair. 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.

NZDJPY

NZDJPY Elliott Wave 1 Hour Chart 5.17.2021​

The pair made more downside toward the blue box as expected. Buyers appeared there and got nice rally. Pull back 2 red ended at 77.91 low. Eventually the price has broken previous peak 05/10 , confirming next leg up is in progress. Right side remains the long side. We don’t recommend selling the pair in any proposed pull back and favor the long side. The pair is expected to keep finding buyers in 3,7,11 swings against the 05/19 pivot in first degree.

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.

NZDJPY

Elliott Wave Forecast
Source: https://elliottwave-forecast.com/trading/nzdjpy-buying-dips-blue-box/
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Nio (NYSE: NIO) is a Chinese multinational automobile manufacturer with headquarter in Shanghai. It specializes in designing and developing electric vehicles. This year, the stock remains down over 40% from the January peak. Several factors contribute to the selloff. First of all, the shortage in the semiconductor limits the production in auto industry. The current chip shortage causes the company's deliveries to fall by -2% month over month. However, the company recently suggests the chip's situation may get better around June or July.

The second factor is the mounting competition in China's electric vehicle market. China-based manufacturers now account for over 50% of global EV deliveries. Nio tries to distinguish itself by innovating in two key areas which are battery technology and self-driving software. The company offers modular batteries for an easy swap in minutes. It also offers Battery-as-a-Service (BaaS) which allows customers to subscribe for car batteries rather than paying for them upfront.

Another factor is simply profit taking and healthy pullback after a massive rally. Rising inflation causes investors to rotate out of the high valuation growth stocks. In the charts below, we will take a look at the Elliott Wave outlook for the stock.

NIO Weekly Elliott Wave Analysis - 05.31.2021​

Weekly Chart above suggests that NIO has ended cycle from all-time low. The stock is now correcting cycle from all-time low within wave ((II)) in larger degree 3, 7, or 11 swing. The first leg of the correction wave (A) ended at $31.91, and now is in wave (B) as expanded flat before possibly turning lower again in wave (C). As far as the pullback stays above 1.37, expect the stock to extend higher.

NIO Daily Elliott Wave Analysis - 05.31.2021​



Daily chart above suggests that the stock could see further rally in near term within wave (B) to correct cycle from January 11, 2021 peak. However, as far as the rally stays below January 11 peak (67), we can't rule out another leg lower in wave (C) of ((II)).

Source: https://elliottwave-forecast.com/stock-market/nio-correcting-cycle-from-all-time-low/
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Since the crash of March 2020, all stocks have tried to recover what they lost, and Berkshire Hathaway was no exception. BRK.B did not only recover the lost, but It also reached historic highs. Now, it is building an impulse from March 2020 lows with a target to $318 - $342 area. Target measured from wave ((1)) and wave ((2)). We think this target is conservative and as the weeks go by, we will update a better target area.

Berkshire Hathaway Old Daily Chart

Berkshire Hathaway Old Daily Chart  As we see in the daily chart, the wave ((1)) has ended, the structure could be rare for you because it is not quite common, and it is called an expanding leading diagonal. (If you want to learn more about Elliott Wave Theory, please follow this link: Elliott Wave Theory). I think it is better to manage the structure of Berkshire Hathaway in that way instead of a nest, and this is because comparing some cycles in the market has more sense with the current structures of the market. Then we have a clear (A), (B), (C) correction as wave ((2)) and we are developing wave ((3)) in this moment,.

Berkshire Hathaway Daily Chart

Berkshire Hathaway Daily Chart

In Berkshire Hathaway, we have added another nest as waves ((i)) and ((ii)). That means we are expecting 4 peaks more to complete the cycle. In the old chart, we were expecting 3 peaks more only. It does not mean that the old chart is wrong, to add a new nest gives the current structure more Harmoniousness. We go taking decisions as the market advances.

Short Term wave ((iv)) possibly ended, but we cannot rule out one more swing lower before continue to the upside. We will confirm wave ((iv) when we break the wave ((iii)) high to look for complete wave 3 in red. In the next months we should continue higher in the stock as a ranging mode following the uptrend as we could see in the chart.

Source: https://elliottwave-forecast.com/stock-market/berkshire-hathaway-followed-path-ranging/
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Trinseo (formerly Styron) is a global materials company based in Berwyn, Pennsylvania, USA. The stock being a component of the Russel2000 index can be traded under ticker $TSE at NYSE. Trinseo offers a broad line of plastics, latex and synthetic rubber. The primary markets are automotive, appliances, electronics, packaging, tire industries, among others. Currently, we can see commodities like oil, rubber, cotton turning higher against weakining US dollar. Hereby, Trinseo being an important player in the manufacturing of synthetic materials should be a great opportunity for investors to diversify their portfolio by indirect investement in the rising commodity prices.

Trinseo Weekly Elliott Wave Analysis 05.29.2021​

The Weekly chart below shows the Trinseo shares $TSE traded at NYSE. First, the stock price has developed an impulse higher in red wave I of a cycle degree. It has printed the all-time highs on the 29th of January 2018 at 85.35. From the highs, a correction lower in red wave II has unfolded as an Elliott wave zigzag pattern with a truncated ((C)) wave. Frequently, lack of space to the downside makes many stocks truncate in the last swing without reaching the usual extension of 100%. Trinseo has printed an important bottom on the March 12th 2020 at 14.16. As a matter of fact, the stock price has lost 83% of its value within 25 months.

From 2020 lows, a new cycle in wave III has already started and should extend towards 185.35 highs and beyond. Then, the target for wave III will be towards 99.26-151.82 area and even higher.

In shorter cycles, from March 2020 lows a cycle higher in black wave ((1)) has ended on 18th of March 2021 at 76.49. From the highs, a correction lower in black wave ((2)) is still in progress and should correct the March 2020 cycle before Trinseo will resume the rally. Investors and traders can be looking to buy pullbacks in 3, 7, or 11 swings against 14.16 lows. Currently, while prices stay below 70.25, the stock price can reach towards the 54.20-44.25 blue box buying area. There, a rally in black wave ((3)) to new highs or a bounce in 3 waves should take place.

Trinseo Elliott Wave Weekly

Source: https://elliottwave-forecast.com/stock-market/tse-trinseo/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
$FXE Elliott Wave & Long Term Cycles

Firstly as seen on the monthly chart shown below the instrument made a high in April 2008. There is data back to December 2005 in the ETF fund. Data correlated in the EURUSD foreign exchange pair suggests the high in April 2008 was the end of a cycle up from the all time lows. EURUSD data shows the pair had a five wave up move from the early 1970’s era. This data is derived from the German Mark currency against the US Dollar that preceded the inception of the Euro currency.

As you can see the FXE instrument reflects the price swings of the single currency well. As previously mentioned the instrument made a high in April 2008. This where the analysis begins on the monthly chart shown below. The correction from those highs appears to be a an Elliott Wave zig zag structure correction. The analysis continues below the monthly chart.



Secondly as mentioned the decline from the April 2008 highs appears to be an Elliott Wave zig zag structure. This structure is also called a 5-3-5 in Elliott Wave terms. When a cycle ends against a trend it will show up in momentum indicators usually before price makes it obvious. Further these cycle lows and highs are in the blue color as shown on the chart above (a)-(b)-(c). This finished ((b)) in January 2017.

Lastly and in conclusion. The instrument ended a cycle lower from the January 2018 highs in March of 2020. It can further bounce higher toward the 130.00 to 135.00 area while above the March 31st, 2021 lows. It should reach that area before it corrects the cycle up from the January 2017 lows.

Source: https://elliottwave-forecast.com/stock-market/fxe-elliott-wave-long-term-cycles/
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In this technical blog, we will look at the past performance of 1 hour Elliott Wave Charts of XLV, which we presented to members at the elliottwave-forecast. In which, the rally from 25 March 2021 low ended 5 waves impulse rally and made a pullback. And we knew that the structure is incomplete for 1 more high at least to complete the 5 waves sequence & it should see more strength. Therefore, we advised members not to sell the ETF & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

XLV 1 Hour Elliott Wave Chart​

XLV Made New Highs From The Elliott wave Blue Box Area

Above is the 1hr Elliott wave chart of XLV from 5/13/2021 Post-Market update. In which the rally to $125.19 high ended the cycle from 3/25/2021 low in 5 waves structure within wave 3. Down from there, the stock made a pullback in wave 4. The internals of that pullback unfolded as Elliott wave zigzag structure where wave ((a)) ended at $123.03 low. Wave ((b)) bounced ended at $124.10 high. Then wave ((c)) managed to reach the $121.94- $120.61 blue box area. From where next leg higher was expected to take place looking for a new high ideally or for a 3 wave bounce at least.

XLV 1 Hour Elliott Wave Chart​

XLV Made New Highs From The Elliott wave Blue Box Area

Here’s the latest 1hr chart from the 5/30/2021 Weekend update. The XLV is showing a strong reaction higher taking place from the blue box area after ending the zigzag correction within wave 4 at $121.38 low. Allowed members to create a risk-free position shortly after taking the long positions at the blue box area.

Source: https://elliottwave-forecast.com/stock-market/xlv-made-new-highs-blue-box-area/
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In the heat of the 2020 correction in March 2020, I released a blog titled "Chevron, A Bottom Is Close". The article featured a blue box area in Chevron where a bounce could take place. Lets take a look at the original chart back in March 2020:

Chevron Elliottwave View March 2020:

Chrevron

At the time, another swing lower was favoured to take place. However, any time an instrument enters into the blue box, it can bounce at any time. Algo's are programmed to enter at the 100% equal leg blue box, it is an area when buyers and sellers begin to fight for direction. Elliottwave is a great tool, but combined with other forms of analysis (like we do here at EWF), a more reliable system is realized.

Fast forward to today. Lets take a look at what happened to Chevron once it entered into the blue box:

Chevron Elliottwave View May 2021:

Chevron

As mentioned, at the time in March 2020, the Elliottwave count was favouring more lows to take place. But the Algos stepped up in the blue box and produced a sharp reaction from the low. This marked the correction cycle low, and now a new cycle higher has begun.

Since the March 2020 lows, the count in Chevron is showing that a new impulsive structure has started. ((1)) is favoured to have set at 103.59 on June 8/2020. After that, ((2)) is favoured set @ 65.16 on October 29/2020. From there a rather text book advance has taken place with a well defined wave sequence into the wave ((3)) peak @ 113.11. Currently a wave ((4)) correction is underway. Once ((4)) is complete, the next leg higher can take place before correcting the whole cycle from March 2020 low.

Source: https://elliottwave-forecast.com/stock-market/chevron-corp-cvx-forecasting-bounce-blue-box/
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Fastly Inc is in the cloud computing business, and has had a major rally from the March 2020 low before peaking for a large degree correction in September 2020. Lets take a look at what the company does and see what the charts say about the future of this company.

“Fastly, Inc. is an American cloud computing services provider. Fastly’s edge cloud platform provides a content delivery network, Internet security services, load balancing, and video & streaming services. Fastly’s headquarters are in San Francisco, California, with additional offices in Denver, New York, Portland, London, and Tokyo.

Fastly describes their network as an edge cloud platform, which is designed to help developers extend their core cloud infrastructure to the edge of the network, closer to users. The Fastly edge cloud platform includes their content delivery network, image optimization, video & streaming, cloud security, and load balancing services.

Fastly’s cloud security services include distributed denial of service (DDoS) attack protection, bot mitigation, and a web application firewall. Fastly web application firewall uses the OWASP ModSecurity Core Rule Set (CRS) alongside its own ruleset.”


Lets dig into the charts!

Fastly

Long term term view from 3/16/2020 lows of 10.54. This stock is favoured to be correcting the whole cycle since the March 2020 low (all time low). Wave ((1)) is set at 46.35 on 5/22/2020 and wave ((2)) at 36.03 on 4/27/2020. After that, an extended Black ((3)) took place, which peaked on 10/13/2020 at 117.79. From there, Black ((4)) at found a low on 9/04/2020 @ 71.39. After that, one final rally took place into Black ((5)) of Red I is favoured peaked 10/13/2020 at 136.50.

After the Red I peak, a sharp pullback took place for ((A)) which saw the stock price take a 50% haircut in under a month. ((B)) bounce peaked in January 2021, and now the stock is working on the final ((C)) decline. There is a blue box extreme area that the stock can bounce from. This is an area where Algo's are programmed to react to the equal leg measurement for ((A)) and ((C)). Even though prices are in the box, the sequence still has more room for further declines. A couple more lows are favoured to take place before a longer term low can materialize.

In conclusion, more downside can take place, but selling short the instrument down here in the hole is not a favourable trade. Moreover, shorting at a blue box where buyers may enter for a bounce, can be extremely risky. The all time low of this stock is 10.38, prices are not able to invalidate this low in order for this count to remain intact.

Source: https://elliottwave-forecast.com/stock-market/fastly-fsly-entering-blue-box/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
Since May 2020 to May 2021 EURJPY has been trending higher for the whole 12 months. On May 26 2021 we advised traders, in our members area, that EURJPY was in a position where the pair will make another move higher. We at EWF always encourage our members to trade with the trend and not against it.

EURJPY 1 Hour Chart New York Midday Update 5.26.2021

EURCAD, forex, trading, elliottwave, market patterns, @AidanFX, AidanFX



The bullish patterns in the chart below also adds more confidence to the bullish Elliott Wave count. Price entered the support/resistance zone (purple) while completing a bullish pattern (blue) signalling traders that this zone could produce a bounce higher. More added reason the pair could push higher was a bullish divergence pattern (pink) formed in the same confluence area support/resistance zone and indicator also entered the oversold levels signalling of a possible reversal higher. Entered the BUY trade at 132.95 with a tight Stop Loss at 132.75 and Targets at the 1:2 RR minimum.

EURJPY 30 Minute Chart 5.26.2021

EURCAD, forex, trading, elliottwave, market patterns, @AidanFX, AidanFX



EURJPY eventually moves higher strongly and on May 27 2021 price hits the 1:5 RR target at 133.95 from 132.95 for +100 pips. A trader should always have multiple strategies all lined up before entering a trade. Never trade off 1 simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup.

EURJPY 30 Minute Chart May 27 2021



Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade.

Source: https://elliottwave-forecast.com/aidans-corner/eurjpy-trading-upside-move/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of XME ETF published in members area of the Elliottwave-Forecast . As our members know, XME is showing impulsive bullish sequences in the cycle from the 13.82 low. Consequently we recommended members to avoid selling it , while keep favoring the long side. Recently we got short term pull back that has unfolded as Elliott Wave ZIGZAG pattern that has given us opportunity to enter long trades. In further text we’re going to explain the forecast and Elliott Wave Pattern and trading strategy.

XME 1 Hour Elliott Wave Analysis 5.13.2021​

Right side remains in the favor of the ETF. XME remains buy in a dips. Current view suggests 2 red pull back is unfolding as Elliott Wave Zig Zag pattern. Inner labeling of correction is : ((a))((b))((c)) black. The price has already reached extremes at 43.41 and showing enough number of swings. Pull back can complete any moment. We don’t recommend selling it and favor the long side from the marked blue box area: 43.41-43.38 . 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.

XME

XME 1 Hour Elliott Wave Analysis 5.14.2021​

XME found buyers at the blue box area. It made nice bounce from the buyers zone that has reached 50 fibs against the connector. All long positions from the blue box area should be risk free at this stage. Pull back completed at 43.00 low. As far as the price stays above that level, next leg up can be in progress. However, if 43.0 low gets broken, pull back will be still in progress as 7 swings structure, and we will measure new entry area.

XME

XME 1 Hour Elliott Wave Analysis 5.17.2021​

43.0 low held well and we got further separation higher. We would like to see break above 3 red peak to confirm next leg up is in progress. Once we get that break, ETF will become bullish against the 43.00 low and it might be offering new buying opportunities for intraday traders. We don't like selling it in any proposed pull back and favor staying long from the blue box area.

XME

XME 1 Hour Elliott Wave Analysis 6.02.2021​

Eventually XME broke toward new highs. With new price action, we adjusted count a little bit. Wave 4 red is now counted completed at the 44.07 low. ETF should ideally keep finding buyers against the 44.07 low.
Keep in mind that market is dynamic and presented view could change 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.

XME

Source: https://elliottwave-forecast.com/trading/xme-rally-buying-dips-blue-box/
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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, depending how the structure is developing.

P&G Old Daily Chart

P&G Old 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. Then, the stock dropped in 7 swings down ((W)), ((X)) and ((Y)) forming a double correction and wave II. This wave II bounced from 121.54 dollars missing our ideal level for a few cents at 120.68. (If you want to learn more about Elliott Wave Theory, please follow this link: Elliott Wave Theory).

P&G Daily Chart

P&G Daily Chart

P&G rallied, and it completed wave ((1)) at 138.63 dollars. Also, we have seen a pullback that bounced at 130.19 dollars, Fibonacci 50% retracement, ending for us the wave ((2)). As we stay above this level, we should continue higher to build a new impulse as wave ((3)) as you could see in the chart above. If 130.19 level gives up, it will entry in a double correction as wave ((2)), but keeping above 121.54 level to continue higher again.

Source: https://elliottwave-forecast.com/stock-market/pg-still-track-wave-3-pullback-deep/
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NexGen Energy (NXE) is a Canada-based company with a focus on acquisition, exploration, and development of Canadian uranium projects. The company owns a portfolio of prospective uranium exploration assets in Athabasca Basin, which are some of the largest in the world. The stock has dropped 80% from its 2017 high to $0.50 / share at the March 2020 low. However, since then it has rallied 10x higher. It is speculative as it's not yet producing uranium, but its potential and also the bullish uranium market prove to be supportive of the stock.

Nuclear Energy Production​



The chart above shows 50 years of nuclear energy production which is a good proxy for uranium demand. After the Fukushima disaster in 2011, many nuclear power plants came offline. However, we have seen a pickup in the demand again. Most of the growth in nuclear power plants came from emerging markets as the chart below shows:



Supply on the other hand continues to decline starting from 2016 due to the low Uranium price. It has created a demand-supply imbalance. The Covid-19 further exacerbates the deficit and between demand and supply.



$NXE Weekly Elliott Wave Chart​



Weekly chart above shows the rally from all-time low unfolding as a 5 waves impulse Elliott Wave structure. Wave (I) ended at $3.04, and dips in wave (II) ended at $0.50. Wave (III) is currently in progress and unfolding as another impulse in lesser degree. Up from wave (II), wave I ended at $1.59 and pullback in wave II ended at $1.22. Expect the stock to remain supported and dips to find support in 3, 7, 11 swing for further upside.

$NXE Daily Elliott Wave Chart​

NXE Elliott Wave chart

Source: https://elliottwave-forecast.com/stock-market/nexgen-energy-nxe-rallies-impulsively/
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Greetings and salutations fellow traders. In this blog, we examine the recent buying opportunity presented by Coffee.

Looking at the Elliott Wave 1 hour chart from 6/3/2021, we see a rally from $143.85 red wave 2 lows. We anticipated the rally to complete five wave impulse in the blue degree. As shown in the chart from 6/3/2021, we had 3 swings up, labelled blue waves (i) to (iii). The commodity completed blue wave (iii) at around the $167.00 area. We anticipated a pullback lower in blue wave (iv) to end soon, somewhere within the blue box area. Naturally, we expect blue wave (v) to follow once blue wave (iv) completes.

And up from the red wave 2 lows, each of the blue waves (i) and (iii) subdivided into 5 waves of a smaller degree. We labelled these internal subdividions as red waves i to v. Blue wave (ii) corrected blue wave (i) in seven swings, or an Elliot Wave double three. We labelled blue wave (ii) internals w-x-y in red. Within each of the waves red i, iii and v, we have an even lower degree subdivision. The subdivisions in red i and v would form either an impulse or a diagonal, while wave iii should be an impulse. This is the fractal nature of the market, where smaller cycles build up to form larger cycles, which in turn build up even larger cycles or degrees.

Nedless to say, wave (iii) in blue would be followed by a correction lower in blue wave (iv), as per Elliott Wave theory. The fourth wave pullbacks are typically shallow, and usually only retrace less than half of the length of the preceeding third wave. Indeed, down from the blue wave (iii) peak, coffee declined in impulse red wave a. This was followed by a bounce in red wave b. Just like red wave a, wave c unfolded as an impulse too, into the blue box.

Elliott Wave 1 hour chart from 6/3/2021 Coffee (KC)

We see a reaction higher from the blue box in the 1 hour chart from 6/4/2021, New York midday update shown below. Furthermore, long positions from the blue box area were already running risk free. Therefore, we expect the commodity to continue trading higher in blue wave (v). However, we need to see a break above blue wave (iii) peak in order to confirm the next leg higher. As a matter of fact, we expect coffee to extend much higher beyond completion of blue wave (v), as we propose it in red wave 3. Thus,we prefer to buy dips in 3,7 or 11 swings at extreme areas as the right side is upside.

Elliott Wave 1 hour chart from 6/4/2021 Coffee (KC)

Source: https://elliottwave-forecast.com/commodities/coffee-buying-opportunity-blue-box/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
$SMH Semiconductors Elliott Wave & Longer term Cycles

Firstly as seen on the monthly chart shown below. There is data back to May 2000 in the ETF fund. Data suggests the fund made a low in November 2008. This low has not been taken out in price. The cycles in this instrument tends to reflect the Nasdaq index fairly well. However it has a larger degree difference in that the Nasdaq made a low to correct the cycle from the all time lows in October 2002 compared to the low made in November 2008 in the SMH semiconductors.

Secondly every way I count this data it suggests several things. Several counts are always possible however the wave (III) in red & blue are still in progress as per the best reading of the cycles.

The analysis continues below the monthly chart.



Thirdly it appears a wave ((3)) an have ended at 258.59. If it can remain below there the instrument can relatively soon see an Elliott Wave ((4)) pullback to correct the cycle from the March 2020 lows. The wave ((4)) should see only around a .236 to .382 retracement of the wave ((3)) before turning higher again in wave ((5)) of III.

In conclusion. It appears the pullback in wave ((2)) to the March 2020 lows corrected the cycle up from the red wave II lows from December 2018. I always like to give the trend benefit of the doubt. In this case it should be obvious the trend is higher. The longer term lows highlighted on the chart suggest the SMH should trade higher while pullbacks show they will remain above the March 2020 lows. Furthermore importantly while above the December 2018 lows according to the price data currently available.

Source: https://elliottwave-forecast.com/stock-market/smh-semiconductors-elliott-wave-longer-term-cycles/
 

FXPIP

Trader
Apr 18, 2020
7
0
17
39
always wonder - does Elliot works at Forex Pairs ?
i use it sometimes at XAUUSD (Metal)
interesting thread ... follow you!
Do you trade real with your strategy ? why no orders at chart ?
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
In this technical blog, we will look at the past performance of 4 hour Elliott Wave Charts of Google stock ticker symbol: $GOOGL, which we presented to members at the elliottwave-forecast. In which, the rally from 23rd February 2021 low unfolded as an impulse structure. And showed a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the GOOGL & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

GOOGL 4 Hour Elliott Wave Chart​

GOOGL Showing Perfect Reaction Higher From Blue Box Area

Above is the 4 Hour Elliott wave chart from the 5/11/2021 update. In which, the stock is showing an impulse rally higher where wave 1 ended at $2145.14 high. Wave 2 pullback ended at $1989.61 low and wave 3 ended at $2431.38 high. Down from there, the stock entered in wave 4 pullback to correct the cycle from $1989.61 low. The internals of that pullback unfolded as Elliott wave double three structure where wave ((w)) ended at $2256.68 low. Wave ((x)) bounce ended at $2373.89 high and wave ((y)) was expected to reach $2198.87- $2090.71 blue box area. From where buyers were expected to appear looking for more upside or for a 3 wave bounce at least.

GOOGL Latest 4 Hour Elliott Wave Chart​

GOOGL Showing Perfect Reaction Higher From Blue Box Area

Here’s the latest 4hr Elliott wave Chart of GOOGL from the 6/08/2021 update. In which the stock is showing a strong reaction higher taking place from the blue box area. Right after ending the double three corrections within the blue box area. Allowed members to create a risk-free position shortly after taking the long positions at the blue box area. However, a break above $2431.38 high still needed to confirm the next extension higher & avoid double correction lower.

Source: https://elliottwave-forecast.com/stock-market/googl-showing-perfect-reaction-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
The stock of KGHM Polska Miedź S.A. is attracting a high attention of investors and traders. It has demonstrated an impressive rally since our initial article from August 2020. As a matter of fact, advance of indices on the one hand and powerful acceleration in commodities like copper and silver on the other have provided a double effect on the price behavior of the KGHM. Here, we present an updated view and the outlook for the stock which one can trade under tickers $KGH at WSE and $KGHPF in US in form of ADRs.

KGHM Monthly Elliott Wave Analysis 06.10.2021​

The monthly chart below shows the KGHM shares $KGH traded at Warsaw Stock Exchange. First, from the all-time lows, the stock price has developed a cycle higher in wave (I). Hereby, KGHM has printed a top in October 2007 at 145. Since the red wave III of blue wave ((I)) shows a price separation higher, the cycle up is obviously an impulse. From the highs, a correction lower in wave (II) has unfolded as a zigzag correction being a 5-3-5 structure. It has found an important bottom in October 2008 at 20.10.

From the 2008 lows, another motive cycle has started. KGHM has broken the 2007 highs at 145 in a 5 waves move in the red wave I. Hereby, the share price has printed a high in April 2011 at 200.30. From there, a multi-year correction in wave II has started. Hereby, one can recognize a double three pattern. It has ended in March 2020 with a capitulation move down to 48.

From the March 2020 lows at 48, KGHM has started a new cycle higher in wave III of (III). It has been confirmed by breaking to the new all-time highs. The target area for the wave III to end is towards 229.05-340.55 and possibly higher. As of right now, first leg up has reached already the minimum expectations. It is the the preferred view that the leg up is the wave ((1)) of III being still in progress. Once finished, a pullback in wave ((2)) should find support in 3, 7, 11 swings above March 2020 lows at 48 for a rally to new highs.

KGHM Elliott Wave Monthly

KGHM Daily Elliott Wave Analysis 06.10.2021​

The Daily chart below shows in more detail the advance higher from the March lows at 48. The cycle up within wave ((1)) remains still intact and might be currently in the wave (5) of ((1)). Together with major indices and copper, expect the march 2020 cycle to continue. However, the major advance within wave ((1)) might be over. Now, a wave (5) can drift sideways to higher in form of an ending diagonal. Investors and traders should be looking to buy wave ((2)) in 3, 7 or 11 swings against the March 2020 lows for another extension higher in wave ((3)).

KGHM Elliott Wave Daily

Source: https://elliottwave-forecast.com/stock-market/kgh-metals-producer-kghm-continue-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,470
6
64
www.elliottwave-forecast.com
Hello fellow traders. USDSGD is another pair that has given us nice trading opportunity lately . The pair has been showing lower low sequences in the cycle from the 1.3531 peak. Recently it made clear 3 waves bounce and found sellers as we were expecting . As our members know when market is trending , blue boxes are very reliable and giving us good trading opportunities. In this technical blog we’re going to take a quick look at the charts of USDSGD published in members area of the website and explain the Elliott Wave structure and trading strategy.

USDSGD Elliott Wave 1 Hour Chart 6.3.2021​

Cycle from the 1.33607 peak shows 5 waves and the pair is now correcting it. Recovery looks incomplete at the moment, suggesting more upside toward Blue Box area: 1.3274-1.3312. At the Blue Box area sellers should ideally appear for further decline or pull back at least. Once the price reaches 50 fibs against the (x) blue low, we should make short positions risk free. As our members know Blue Boxes are no enemy areas , giving us 85% chance to get a reaction.

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

USDSGD

USDSGD Elliott Wave 1 Hour Chart 6.4.2021​

USDSGD found sellers right at the blue box : 1.3274-1.3312 area. The pair gave us nice decline from there. The price has already reached 50 fibs against the B red low. Members who sold the pair at the blue box area now enjoying profits in a risk free trades. We took partial profits and put Stop Loss at Break Even. Now, we expect to see further separation down from the 8.64407 peak . We would need to see break of 06/01 low to confirm next leg down is in progress. Otherwise if 1.329 pivot gives up, we can still be in the larger recovery.



USDSGD

USDSGD Elliott Wave 1 Hour Chart 6.13.2021​

At this stage we see 03.31 cycle completed in Dollar index. Consequently USDSGD can also have equivalent cycle completed. The pair can be also doing larger correction toward 1.33029-1.33267 area. At that zone we expect sellers to appear again for a 3 waves pull back at least.
Keep in mind 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.



Elliott Wave Forecast
Source: https://elliottwave-forecast.com/trading/usdsgd-selling-rallies-blue-box-zone/
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John Deere is an American corporation that manufactures acricultural, construction and forestry machinery, diesel engines and drivertrains. Founded in 1837 and based in Moline, Illinois, USA, the stock being a component of the S&P500 index can be traded under ticker $DE at NYSE. Currently, we can see agriculture commodities like wheat and corn on the one side and lumber prices on the another side strongly rallying. Hereby, John Deere being an important player in the manufacturing of machinery for those markets should be a great opportunity for investors to diversify their portfolio by indirect participation in the rising commodity prices.

Deere Monthly Elliott Wave Analysis 06.13.2021​

The Monthly chart below shows the John Deere shares $DE traded at NYSE. From the all-time lows, the stock price has developed a series of nests. First, the cycle in blue (I) ended on April 2008 and the pullback made a bottom on March 2009. Then, from the 24.51 lows, a cycle higher within red I of blue (III) reached towards 99.80 highs. That cycle saw later a retracement in wave II towards 70.16 lows in January 2016. Finally, another nest has been formed by waves ((1))-((2)). From the March 2020 lows at 106.14, a powerful acceleration within black wave ((3)) of red wave III of blue (III) has taken place. Deere saw the all-time highs in May 2021 at 400.34.

Now, investors and traders should be expecting John Deere drifting higher in series of waves 4 and 5. Upcoming 5th waves should resolve the previously seen nests. Therefore, one can be looking to buy the pullbacks in 3, 7, or 11 swings against 106.14 lows for a rally towards the new all-time highs.

Deere Elliott Wave Monthly

Deere Daily Elliott Wave Analysis 06.13.2021​

The daily chart below shows the advance higher in black wave ((3)). It is a clear impulsive move with extension. Now, the pullback in wave ((4)) is unfolding as a double correction. Waves (W)-(X) have finished, wave (Y) can reach lower towards 318.89-287.66 area. Therefore, investors and traders can be looking to buy the wave ((4)) pullback from that area if reached. Then, expect a rally in wave ((5)) to the new all-time highs. Alternatively, a bounce in 3 waves as minimum should take place.

Deere Elliott Wave Daily

Source: https://elliottwave-forecast.com/stock-market/john-deere-continue-show-strength/
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Silver Miner ETF (SIL) has been consolidating for 10 months. In the next few months, the ETF may start the next major breakout to the upside The key areas remain to be around $52. A break and close above this level could start the next major bullish rally. The ETF still remains to be one of the best Silver plays if one believes in the bullish thesis. The share price of these publicly traded mining companies usually climb faster than the underlying metals. We analyzed the Elliott Wave Chart of SIL below in Monthly and Daily time frames.

$SIL Monthly Elliott Wave Chart​



Monthly chart of SIL above shows a clear key area around $52. The structure from 2016 low shows a potential of long term basing pattern. We are calling the rally to August 2020 peak at 52.87 as wave ((1)). The 7 months correction is proposed complete at 38.38 as wave ((2)). In the next few months, the ETF has a chance to attack and break above the key $52 areas to start the next major leg higher.

$SIL Daily Elliott Wave Chart​

Silver Miner (SIL) Elliott Wave Chart

The rally from wave II low on March 1 unfolded as an impulse Elliott Wave structure. The rally ended wave ((1)) at $52.87 and Wave ((2)) pullback ended at 38.38. The ETF has started to turn higher within wave ((3)), but it still needs to break above wave ((1)) at $52.87 to rule out a double correction. Near term, as far as dips stay above 38.38 low, expect the ETF to extend higher.

Source: https://elliottwave-forecast.com/stock-market/silver-miners-sil-looking-for-a-breakout/
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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 Old 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. Disney dropped showing us that an irregular flat took place in a double correction and end the wave ((4) at 167.15. (If you want to learn more about Elliott Wave Theory, please follow this link: Elliott Wave Theory).

Disney Current Daily Chart

Disney Daily Chart

After a month of the Disney's Q2 earnings results, the stock has rebound, but not enough to be a wave 1 in red. We are looking to reach wave X area in at least 5 swings to consider wave 1 done. Then a pullback is expected before continuing higher. As we stay above 167.15 we are going to push the structure to the upside, technically, Disney should resume the uptrend looking for $230.00 target.

Source: https://elliottwave-forecast.com/stock-market/disney-seems-ended-wave-4/