DAX Index: Bullish Elliott Wave Sequence

DAX 1 Hour Elliott Wave Analysis 2.20.2017 Scenario 2

DAX Index has recovered most of the losses that it saw between 1/26/2017 and 2/7/2017. Index continued the rally today and made a new high above 2/15 (11846) which makes it 5 swings up from 2/7/2017 (11460) low and opens another extension higher. We have labelled the rally from 11460 - 11846 as red wave W and the dip to 11688 as red wave X. New high above red wave W suggests red wave Y is in progress looking for 11927 - 11984 area followed by 12076 - 12168 area to complete a double three (WXY) … [Read more...]

AUDUSD 5 wave cycle completed: Now turning lower

AUDUSD 5 wave cycle completed

AUDUSD 5 wave cycle from 12/23 low is proposed to be over at 0.7608 and pair is now turning lower. Yesterday, we mentioned that a break below 0.7511 would negate another high to complete wave (A) and suggest that 5 wave cycle from 12/23 low ended already at 0.7608. Today, pair failed to make a new high above 0.7608 and even though 0.7511 low is not yet broken, pair is trading heavy at the moment and also the pivot at 0.7511 low in our distribution system has been broken which adds conviction to … [Read more...]

AUDUSD: 5 Wave move nearing completion

11AUDUSD 6020170126005933

AUDUSD 5 wave move up from 12/13 low can already be counted completed at 0.7609. However, while above 0.7511 low, another high to 0.7631 - 0.7699 area can't be ruled out within this 5 wave move up from 12/23 low. As per the updated wave count, wave 3 is at 0.7609 and dip to 0.7511 was a FLAT wave 4. Wave ((v)) of 3 was an Ending Diagonal and wave 5 itself can also take the form of an Ending Diagonal. Once wave (A) is complete, expect the pair to pull back in 3, 7 or 11 swings in wave (B). … [Read more...]

DAX Intra-day Analysis: Wave 3 in progress

DAX Elliott Wave Analysis 1.25.2017

DAX extend the rally today and broke to a new high above blue (3). Index has reached 2.618 - 3.236 extension area where black wave ((iii)) can complete and we can see a pull back in black wave ((iv)) followed by more upside towards 11866 - 11951 area to complete red wave 3. We can see that DAX has broken above the parallel channel  on the chart which is a confirmation that DAX rally is unfolding as an impulse and we are still in wave 3. As per the wave theory, once red wave 3 is complete, we can … [Read more...]

EURAUD: More downside after a bounce

EURAUD Elliott Wave Analysis 1.23.2017

EURAUD has been in a steady downtrend since forming a peak on 8/24/2015 (1.6585). Although, pair is very close to 100% Fibonacci extension down from 8/24/2015 peak, Elliott wave sequence to the downside is incomplete and is calling for rallies to prove corrective and result in more downside in the pair. Last week, pair broke below 11/10/2016 low and dropped to the lowest level since May 2015 before it started bouncing. With the break of 11/10/2016 (1.4070) low, pair is showing 5 swings down from … [Read more...]

Risk Management Technique Seminar

Risk Management

Trading is not about being right or wrong, but it's about seeing the market in probabilities. Trading is the act of putting one's hard earned money in the market (at risk of losing it, without fear) under circumstances where one has an edge, a higher change or probability of price action going in one's favour, while following strict risk & money management rules. Trading is not a quick get-rich scheme. Rather, it is about mastering the technique to preserve one's capital. When one learns how … [Read more...]