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Elliott Wave Analysis by EWF
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[QUOTE="Elliottwave-Forecast, post: 201317, member: 40858"] Another good trading opportunity we have had lately is AMD stock. As our members know the stock is showing impulsive bullish sequences in the cycle from the September 99.46 low. Recently it made clear 3 waves pull back and found buyers at the blue box as we expected. In this technical blog we’re going to take a quick look at the charts of AMD Stock published in members area of the website and explain the Elliott Wave structure and trading strategy. [HEADING=3]AMD Elliott Wave 1 Hour Chart 10.29.2021[/HEADING] AMD is giving us wave 4 red correction. Pull back is showing lower low sequences and looks incomplete at the moment. Another marginal push down should be seen toward 119.29-114.93 area to complete the pull back. We recommended members to avoid short selling AMD against the main bullish trend . Strategy is buying the dips at the blue box area. As the main trend is bullish, we expect to get at least 3 waves bounce against the peak, if not rally toward new highs. Once bounce reaches 50 Fibs against the ((x)) black high, we will make long position risk free ( put SL at BE). Invalidation for the trade would be break below 1.618 fibs extension: 114.93. 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 Double Patterns at our [B]Free Elliott Wave Educational Web Page[/B].[/I] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/AMD-10.29.-blog.jpg'][IMG alt="AMD"]https://elliottwave-forecast.com/wp-content/uploads/2021/11/AMD-10.29.-blog.jpg[/IMG][/URL] [HEADING=3]AMD Elliott Wave 1 Hour Chart 11.01.2021[/HEADING] The Stock has given us leg down toward blue box as expected. Buyers appeared at the marked zone and we are getting nice reaction from there. The reaction from the blue box is solid. It reached and exceeded 50 fibs against the ((x)) black connector. As a result members who took long positions should make them risk free ( move stop loss at the entry point). As far as the price stays above current low : 118.17, we can consider (4) blue pull back done. Now, we would like to see break above (3) blue peak to confirm next leg up (5) is in progress. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/AMD-1H20211101124328.jpg'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/11/AMD-1H20211101124328.jpg[/IMG][/URL] [HEADING=3]AMD Elliott Wave 1 Hour Chart 11.03.2021[/HEADING] AMD has given us further rally and we finally got the break of previous (3) blue high. At this moment, the stock remains bullish against the 118.17 low in first degree. AMD should ideally keep finding buyers in short term dips as far as the mentioned pivot holds. 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]. [B][URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/AMD-11.03.jpg'][IMG alt="AMD"]https://elliottwave-forecast.com/wp-content/uploads/2021/11/AMD-11.03.jpg[/IMG][/URL] Elliott Wave Forecast[/B] Source: [URL]https://elliottwave-forecast.com/trading/amd-stock-buying-pull-back-blue-box/[/URL] [automerge]1636384861[/automerge] Gold and related miners formed a high on August 2020 and they have pulled back for more than 1 year. In our last article from 2 months ago, we provided a support area of $18.5 - $32.6. It looks like Gold Miners did not quite reach the 100% extension area and already ended the correction. This article is the latest update on Gold Miners Junior (GDXJ) ETF. [HEADING=3]GDXJ Monthly Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/GDXJ-Monthly20211108091930.jpg'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/11/GDXJ-Monthly20211108091930.jpg[/IMG][/URL] Since topping out on August 2020 peak, Gold Miners Junior (GDXJ) has retraced 61.8% of the rally from March 2020 low. The correction has likely likely completed. As the chart above shows, the rally from January 2016 low (15.23) low is proposed to be unfolding as a 5 waves impulse. Up from January 2016 low, wave I ended at $52.50 and pullback in wave II ended at $19.52. The ETF then extends higher again in wave III which subdivides into another 5 waves in lesser degree. Up from wave II, wave ((1)) ended at $65.95 and dips in wave ((2)) ended at $37.31. The ETF has turned higher and should rally in a powerful wave ((3)) of III. [HEADING=3] [/HEADING] [HEADING=3]GDXJ Daily Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/GDXJ-Daily20211108092017.jpg'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/11/GDXJ-Daily20211108092017.jpg[/IMG][/URL] The Daily chart above shows that GDXJ ended wave ((1)) at $65.95 on August 2020 peak. It then corrects the rally from wave II low on March 2020 for 13 months before ending wave ((2)) at $37.31. It has turned higher with structure of the rally looking impulsive. Up from wave ((2)), wave (1) ended at $45.75 and dips in wave (2) ended at $42.12. Near term, while above $42.12, and more importantly above $18.99, expect the ETF to extend higher. Source: [URL]https://elliottwave-forecast.com/stock-market/junior-gold-miners-gdxj-ended-correction/[/URL] [automerge]1636384896[/automerge] Lockheed Martin is one of the the largest defense, arms and aerospace companies based in the United States and the world. It employs approximately 110'000 people worldwide. The company operates mainly on four business segments, i.e., Aeronautics, Missiles & Fire control, Rotary & Mission system and Space systems. It’s the world’s largest defense contractor based on revenues in the fiscal year of 2014. Headquartered in Bethesda, Maryland, USA, Lockheed Martin is a part of S&P100 and S&P500 indices. One can trade it under the ticker $LMT at NYSE. In the article back in March 2019, we have presented the impulsive structure of $LMT. Our anticipation was an extension towards 391-437 area. Then a pullback in wave ((IV)) before higher again. We were right. Here, we present an updated view. [HEADING=3]Lockheed Martin Monthly Elliott Wave Analysis 11.07.2021[/HEADING] The monthly chart below shows the Lockheed Martin stock $LMT traded at NYSE. From the all-time lows, the stock price has developed cycles higher in black waves ((I))-((II)-((III)) of grand super cycle degree towards the all-time highs on February 2020 at 442.53. Hereby, the wave ((III)) shows an extension beyond 2.618 as related to the wave ((I)). Moreover, wave ((III)) shows an extended subwave (III) on its own. From the February 2020 highs, a correction lower in black wave ((IV)) has found its bottom in March 2020 at 266.11 low. From there, a new cycle within wave ((V)) is in progress. The target for wave ((V)) will be 484.18-551.58 area. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/LMT-Monthly.jpg'][IMG alt="Lockheed Martin Elliott Wave Monthly"]https://elliottwave-forecast.com/wp-content/uploads/2021/11/LMT-Monthly-300x147.jpg[/IMG][/URL] [HEADING=3]Lockheed Martin Daily Elliott Wave Analysis 11.07.2021[/HEADING] The daily chart below shows in more detail the first stages of the advance higher in black wave ((V)). First, the cycle in blue wave (I) has ended in June 2020 at 417.62 highs. From there, a pullback in wave (II) is taking place and should find support in 7 or 11 swings above 266.11 lows. While prices hold below 396.99 highs from May 2021, $LMT can reach lower towards 298.93-275.80 area. Then, acceleration higher within wave (III) of ((V)) should take place. Investors and traders can be looking to buy Lockheed Martin in pullback from 298.93-266.11 area for more upside. The target will be 484.18-551.58 area. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/LMT-Daily.jpg'][IMG alt="Lockheed Martin Elliott Wave Daily"]https://elliottwave-forecast.com/wp-content/uploads/2021/11/LMT-Daily-300x147.jpg[/IMG][/URL] Source: [URL]https://elliottwave-forecast.com/stock-market/lockheed-martin-opportunity-pullback/[/URL] [automerge]1636384934[/automerge] In the original article from March 2021, we have discussed the price action and the outlook for the Frozen Concentrated Orange Juice. Today, we present un updated view. As it has been expected, the soft commodities have advanced. In particular, we saw commodities like coffee, cocoa, cotton and sugar extending higher. Hereby, orange juice futures OJ #F have rallied as well. Now, a pullback is happening. This short-term consolidation provides an opportunity both for investors and traders. Soon, an acceleration higher should take place. [HEADING=3]Orange Juice Monthly Elliott Wave Analysis 11.07.2021[/HEADING] 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. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/JO-F-Monthly1.jpg'][IMG alt="Orange Juice Elliott Wave Monthly"]https://elliottwave-forecast.com/wp-content/uploads/2021/11/JO-F-Monthly1-300x147.jpg[/IMG][/URL] [HEADING=3]Orange Juice Weekly Elliott Wave Analysis 11.07.2021[/HEADING] 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 in July 2021 at 143.80 highs. From there, a correction lower in wave ((2)) is unfolding as an expanded flat. While below 148.95 highs, it can see minor downside before turning higher again. Investors and traders can be, therefore, looking to buy FCOJ in a pullback against 90.60 low. While short-term target will be above 143.80 highs, in a long-term, investors can be looking towards 264.00-371.20 area. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/JO-F-Weekly1.jpg'][IMG alt="Orange Juice Elliott Wave Weekly"]https://elliottwave-forecast.com/wp-content/uploads/2021/11/JO-F-Weekly1-300x147.jpg[/IMG][/URL] Source: [URL]https://elliottwave-forecast.com/commodities/orange-juice-opportunity/[/URL] [/QUOTE]
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