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Technical Analysis
Elliott Wave Analysis by EWF
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[QUOTE="Elliottwave-Forecast, post: 195940, member: 40858"] Thank you. Glad you like it. [automerge]1622468980[/automerge] 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. [HEADING=3]NZDJPY Elliott Wave 1 Hour Chart 5.14.2021[/HEADING] 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. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/05/NZDJPY-5.14..jpg'][IMG alt="NZDJPY"]https://elliottwave-forecast.com/wp-content/uploads/2021/05/NZDJPY-5.14..jpg[/IMG][/URL] [HEADING=3]NZDJPY Elliott Wave 1 Hour Chart 5.17.2021[/HEADING] 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. [I]You can learn more about Elliott Wave Zig Zag Patterns at our [B]Free Elliott Wave Educational Web Page[/B].[/I] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/05/NZDJPY-5.17..jpg'][IMG alt="NZDJPY"]https://elliottwave-forecast.com/wp-content/uploads/2021/05/NZDJPY-5.17..jpg[/IMG][/URL] [HEADING=3]NZDJPY Elliott Wave 1 Hour Chart 5.17.2021[/HEADING] 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 [B]Live Trading Room[/B]. You can check most recent charts in the membership area of the site. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/05/NZDJPY-5.27..jpg'][IMG alt="NZDJPY"]https://elliottwave-forecast.com/wp-content/uploads/2021/05/NZDJPY-5.27..jpg[/IMG][/URL] [B]Elliott Wave Forecast[/B] Source: [URL]https://elliottwave-forecast.com/trading/nzdjpy-buying-dips-blue-box/[/URL] [automerge]1622469045[/automerge] 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. [HEADING=3]NIO Weekly Elliott Wave Analysis - 05.31.2021[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/05/NIO-Weekly20210531113443.jpg'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/05/NIO-Weekly20210531113443.jpg[/IMG][/URL]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. [HEADING=3]NIO Daily Elliott Wave Analysis - 05.31.2021[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/05/NIO-Daily20210531094351.jpg'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/05/NIO-Daily20210531094351.jpg[/IMG][/URL] 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: [URL]https://elliottwave-forecast.com/stock-market/nio-correcting-cycle-from-all-time-low/[/URL] [automerge]1622469084[/automerge] 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. [HEADING=2][B]Berkshire Hathaway Old Daily Chart [/B][/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/05/BRK20210411162407.png'][IMG alt="Berkshire Hathaway Old Daily Chart "]https://elliottwave-forecast.com/wp-content/uploads/2021/05/BRK20210411162407.png[/IMG][/URL]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,. [HEADING=2][B]Berkshire Hathaway Daily Chart[/B][/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/05/BRK20210529101727.png'][IMG alt="Berkshire Hathaway Daily Chart"]https://elliottwave-forecast.com/wp-content/uploads/2021/05/BRK20210529101727.png[/IMG][/URL] 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: [URL]https://elliottwave-forecast.com/stock-market/berkshire-hathaway-followed-path-ranging/[/URL] [automerge]1622469123[/automerge] 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. [HEADING=3]Trinseo Weekly Elliott Wave Analysis 05.29.2021[/HEADING] 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. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/05/TSE-Weekly.jpg'][IMG alt="Trinseo Elliott Wave Weekly"]https://elliottwave-forecast.com/wp-content/uploads/2021/05/TSE-Weekly-300x147.jpg[/IMG][/URL] Source: [URL]https://elliottwave-forecast.com/stock-market/tse-trinseo/[/URL] [/QUOTE]
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