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Technical Analysis
Elliott Wave Analysis by EWF
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[QUOTE="Elliottwave-Forecast, post: 196706, member: 40858"] In this technical blog, we will look at the past performance of 4 hour Elliott Wave Charts of Microsoft stock ticker symbol: $MSFT, which we presented to members at the elliottwave-forecast. In which, the rally from 06 January 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 stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below: [HEADING=3]Microsoft 4 Hour Elliott Wave Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/06/MSFT-11-May-4H.png'][IMG alt="Microsoft Bouncing Strongly From The Blue Box Area"]https://elliottwave-forecast.com/wp-content/uploads/2021/06/MSFT-11-May-4H-1024x525.png[/IMG][/URL] 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 $247.70 high. Wave 2 pullback ended at $222.46 low and wave 3 ended at $263.19 high. Down from there, the stock entered into a wave 4 pullback to correct the cycle from a $222.46 low. The internals of that pullback unfolded as Elliott wave double three structure where wave ((w)) ended at $249 low. Wave ((x)) bounce ended at $254.75 high and wave ((y)) was expected to reach $240.54- $231.77 blue box area. From where buyers were expected to appear looking for more upside or for a 3 wave bounce at least. [HEADING=3]Microsoft 4 Hour Elliott Wave Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/06/MSFT-17-June-4H.png'][IMG alt="Microsoft Bouncing Strongly From The Blue Box Area"]https://elliottwave-forecast.com/wp-content/uploads/2021/06/MSFT-17-June-4H-1024x525.png[/IMG][/URL] Here’s the 4hr Elliott wave Chart of Microsoft from the 6/17/2021 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. Source: [URL]https://elliottwave-forecast.com/stock-market/microsoft-bouncing-strongly/[/URL] [automerge]1624462324[/automerge] Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of INDU published in members area of the Elliottwave-Forecast . As our members know, INDU is another index that has given us good trading opportunity recently. The index is showing incomplete sequences in the cycle from the March 2020 low, targeting 37090+ area. We recommended members to avoid selling and keep on buying the dips in 3,7,11 swings. Recently we got 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. [HEADING=3]INDU 4 Hour Asia Elliott Wave Analysis 6.17.2021[/HEADING] Current view suggests INDU is doing (4) blue pull back. Correction looks incomplete at the moment, we believe INDU still could give us another leg down as proposed on the chart. Although calling for more short term weakness, we recommended members to avoid selling against the main bullish trend. Strategy is waiting for extremes from 34987 peak to be reached before entering long trades again. Extreme zone comes at 33026-32082 ( buyers zone) [I]Reminder: You can learn about Elliott Wave Patterns at our [B]Free Elliott Wave Educational Web Page[/B].[/I] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/06/INDU-6.17..jpg'][IMG alt="INDU"]https://elliottwave-forecast.com/wp-content/uploads/2021/06/INDU-6.17..jpg[/IMG][/URL] [HEADING=3]INDU 4 Hour Asia Elliott Wave Analysis 6.18.2021[/HEADING] INDU made the decline as we expected. However, price still has not reached extremes at 33026-32082. We see potentially more downside toward Blue Box Area. At that zone we would like to be buyers , looking for further rally toward new highs ideally. 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 (32082). As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a bounce. Once the price reaches 50 Fibs against the (B) blue peak, we will make long positions risk free ( put SL at BE). [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/06/INDU-6.18..jpg'][IMG alt="INDU"]https://elliottwave-forecast.com/wp-content/uploads/2021/06/INDU-6.18..jpg[/IMG][/URL] [HEADING=3]INDU 4 Hour Asia Elliott Wave Analysis 6.22.2021[/HEADING] INDU found buyers and gave us nice reaction from the blue box. Bounce reached 50 fibs against the connector (B) blue, so we put SL at BE and booked partial profits. Long trades are risk free at this stage. More aggressive view suggests pull back is completed at 33029 low. As far as the price stays above 32900 low, next leg up could be in progress. Alternatively if it breaks it , we will be out the trade without loss or with minimal loss . 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 [B]Live Trading Room[/B]. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/06/INDU-6.22..jpg'][IMG alt="INDU"]https://elliottwave-forecast.com/wp-content/uploads/2021/06/INDU-6.22..jpg[/IMG][/URL] [B]Elliott Wave Forecast[/B] Source: [URL]https://elliottwave-forecast.com/trading/indu-elliott-wave-buying-blue-box/[/URL] [/QUOTE]
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