AUDUSD – Possible 5 waves move in making

11AUDUSD 6020170118093704

AUDUSD move up from 12/23 low is extending and as pair keeps extending higher with shallow pull backs, it looks like the move up from 12/23 low is unfolding as an Elliott wave impulse when pair is still in wave 3. Rally to 0.7356 is labelled as wave 1 and dip to 0.7283 is labelled as wave 2. Up from there wave 3 remains in progress towards 0.7582 - 0.7629 area. Once wave 3 is complete, expect the pair to pull back in wave 4 to correct the cycle from red 2 low and turn higher in wave 5 to … [Read more...]

SPX buying the dips after a Double correction

SPX elliott wave

Hello fellow traders. The video below is a capture from the SPX Strategy of the day video from 12/19/2016 held by  Daud Bhatti. SPX Trading strategy: Our Elliott Wave forecast suggests the index is within bullish cycle from the 2084.6 low. It's missing a swing to the upside, looking for 2316.85 area. As Daud explained in the video, while the price holds below 12/13 peak, double correction can be seen in wave (b) blue. As always, we recommended our members to go with the trend. Suggestion was … [Read more...]

Top Financial Companies Performance

Financial companies sector performance chart

Financial Companies Review In our previous article we made an Overview of the financial sector and we mentioned that the overall performance was below average as most of the Top Financial Companies stocks were in the negative territory since the start of 2016. The acceleration to the upside came during the 4th quarter of the year after the US Election which was as always a driving event as the lows was already in place few days before it . Our Dark horse Comerica ( CMA ) continued its … [Read more...]

EURCAD Possible Bearish Trade Setup 1.17.2017

EURCAD, Elliott Wave, bearish, elliottwave, sell, price action, breakout

EURCAD 1 Hour Technical Analysis January 17.2017 As long as EURCAD stays below 1.4055 we remain bearish and can expect for EURCAD to continue lower. In the first chart below we present an Elliott Wave bearish view and expect the pair to terminate red wave x in the 1.3994 - 1.4014 area which is also the 1.0% - 1.236% a Fib. Ext. area. We expect to see EURCAD form a top in this area and make a reverse lower. If looking to sell EURCAD stops must be placed at the invalidation level at … [Read more...]

GBPUSD Elliott Wave Forecast 1.17.2017

GBPUSD 6020170116212942

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave W ended at 1.2198 and wave X ended at 1.2432. Internal of wave (Y) is unfolding as a double three where wave ((w)) ended at 1.2037 and wave ((x)) bounce is proposed complete at 1.2317. The pair has since broken below 1.2317, suggesting that the next leg lower in wave ((y)) of (Y) has already started. Near term, pair is correcting the … [Read more...]

GBPUSD Elliott Wave Forecast 1.13.2017

GBPUSD 6020170112210917

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave (W) ended at 1.2198 and wave (X) ended at 1.2432. GBPUSD has since broken below wave (W) at 1.2198 which suggests that the next leg Wave (Y) has already started to the downside. Internal of wave (Y) is unfolding as a double three where wave W ended at 1.2037 and wave X bounce is proposed complete at 1.2317. Near term, while bounces … [Read more...]