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Technical Analysis
Elliott Wave Analysis by EWF
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[QUOTE="Elliottwave-Forecast, post: 196666, member: 40858"] Kospi Longer Term Swing Count & Bullish Sequence The KOSPI Index in the long term has been trending higher with other world indices since inception in 1983. The index began with a base value set at 100 and trended higher until it ended that cycle in 1994. The index then corrected that cycle with the dip into 1998 lows during the Asian Financial Crisis. From the 1998 lows the index did three bullish swings higher into the November 2007 highs. The pullback from there until October 2008 was strong enough to suggest it was correcting the whole cycle up from the June 1998 lows. Secondly I would like to mention this is a swing count. It is not an Elliott Wave count. However I have put my thoughts on the chart as to the highs and lows regarding larger degree impulse sequence highs and lows. As per the rules an impulse travels in the direction of the trend in 5-9 or 13 swings. When the bullish trend renewed to the April 2011 highs it reached the .618-.764 Fibonacci extension of the June 1998 to November 2007 cycle. This is a usual area for a 5th swing of a cycle. The 6th swing dip to the March 2020 lows corrected that cycle up from the June 1998 lows. The analysis continues below the chart. Kospi Monthly Chart [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/06/Kospi-M-6-22-21.png'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/06/Kospi-M-6-22-21-1024x491.png[/IMG][/URL] Thirdly, how these extension areas are measured. Take the Fibonacci extension tool on a charting platform. On this chart, point 1 will be at the beginning of the cycle at the 1998 lows. From there on up to the 2011 highs will be point 2. The point 3 will be down at the 2020 lows. The extension areas shown are the same as long as price remains above the 2020 lows. Lastly in conclusion the bounce from the 1998 lows ended a cycle in April 2011. It actually made another high afterward however the dip to the March 2020 lows was strong enough to suggest the 2018 high was part of a larger correction as the strong pullback to the March 2020 lows corrected the cycle from the 1998 low. In the near term pullbacks should remain well above the 2020 lows and progress higher should continue. Source: [URL]https://elliottwave-forecast.com/stock-market/kospi-longer-term-swing-count-bullish-sequence/[/URL] [automerge]1624375158[/automerge] The $CAC40 Longer Term Bullish Cycles & Swings Firstly the CAC 40 index has been trending higher with other world indices where in September 2000 it put in an all time high. From there it followed the rest of the world indices lower into the March 2003 lows which was a larger degree pullback. From there the index rallied with other world indices again until June 2007. It then corrected that rally again as did most other world stock indices. It ended this larger degree correction in March 2009. From those 2009 lows, the index shows an incomplete swing sequence that favors further upside. Secondly, in February 2020 the uptrend cycle from the March 2009 lows ended with the pullback into the March 2020 lows. While above there the next longer term target area is highlighted on the chart. The analysis continues below the chart. $CAC40 Index Monthly Chart [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/06/Cac40-M-6-22-21.png'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/06/Cac40-M-6-22-21-1024x491.png[/IMG][/URL] The target extension areas are measured as per the following. Use a Fibonacci extension tool on a charting platform. On this chart, point 1 will be at the beginning of the cycle at the March 2009 lows. From there on up to the February 2020 highs will be point 2. The point 3 will be down at the March 2020 lows. The extension areas shown are the same as long as price remains above those March 2020 lows. As of now, the index appears to have an Elliott Wave impulse higher in progress that appears to be in a wave three. If so ideally pullbacks should remain well above the October 2020 lows while continuing the trend higher. Lastly in conclusion, the extension areas higher shown on the chart is the next areas of interest the index should be able to reach during this period of multiple world indices bullish trends higher. Source: [URL]https://elliottwave-forecast.com/stock-market/cac40-longer-term-bullish-cycles-swings/[/URL] [automerge]1624375197[/automerge] $BEL20 Index Longer Term Swings & Bullish Cycles Firstly the BEL20 Index has trended higher with other world indices since the benchmark was established. The index remained in a long term bullish trend cycle into the May 2007 highs. From there it made a sharp correction lower that lasted until March 2009 similar to other world indices. That is where the index corrected the whole long term bullish cycle from the all time lows. At this point is where this bullish trend, cycle and swing analysis begins. The analysis continues below the monthly chart. BEL20 Monthly Chart [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/06/Bel20-M-6-22-21.png'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/06/Bel20-M-6-22-21-1024x522.png[/IMG][/URL] Secondly, the 2009 lows corrected the whole longer term cycle higher from inception in the benchmark index. The bounce from the March 2009 lows into the January 2018 highs was a clear five swing impulse. The pullback lower from that high is strong enough to suggest it is correcting the whole cycle up from the March 2009 lows. This is determined by reading the RSI and other momentum indicators. Thirdly, previously mentioned earlier, the pullback from the January 2018 high to the December 2018 lows was strong enough to suggest it is correcting the cycle up from the March 2009 lows. At this point the index could have possibly completed a corrective sequence against the uptrend however some related instruments suggested an otherwise deeper pullback. After another high was seen in February 2020 it did the next swing lower into the March 2020 lows which appeared to have completed an expanded flat from the January 2018 highs. In conclusion, this expanded flat is a typical and common Elliott Wave corrective structure. Previously mentioned earlier, this is corrected the cycle from the 2009 low. At this point in time from the March 2020 lows it appears the index is in a third wave. Ideally while pullbacks remain relatively shallow the index can resume the longer term bullish trend higher back above the May 2007 highs. Source: [URL]https://elliottwave-forecast.com/stock-market/bel20-index-longer-term-swings-bullish-cycles/[/URL] [/QUOTE]
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