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...]

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 Analysis calling for new lows

GBPUSD Video thumb

GBPUSD preferred Elliott wave structure suggests pair is in an Ending Diagonal structure where wave ((4)) completed on 12/6 at 1.2775. Each sub-wave of a diagonal pattern sub-divides in 3, 7 or 11 swings. As the chart below shows, wave (W) of ((5)) completed at 1.2198 followed by a 3 wave bounce to 1.2432 which completed wave (X). This bounce failed in 100 - 123.6% extension area of W-X (1.2390 - 1.2435) and offered a selling opportunity there. Pair has since broken below 1.2198 low and is now … [Read more...]

EURCAD Elliott Wave Plus Bearish Patterns

EURCAD, bearish, Elliott Wave, elliottwave, patterns

EURCAD Technical Analysis January 12/2017 EURCAD 1 hour Elliott Wave count can be calling for more downside and also there are two possible bearish patterns to match the bearish Elliott Wave count. As long as the pair stays below 1.4055 we can expect the pair to continue lower. Both the Elliott Wave and bearish patterns invalidate at 1.4055 and if the pair breaks above this invalidation level we can expect the pair to correct higher. As for now we remain bearish as long as the invalidation … [Read more...]

Elliott Wave Analysis: DAX

DAX-24020170111170909

In this technical blog, let's take a look at the $DAX instrument Elliott wave forecast we had since the beginning of 2017. Below is the $DAX 1/07/2017, 4 hr  weekend updated chart suggesting the rally in DAX from 11/9/2016 is unfolding as a Elliott wave triple three structure (also known as 11 swing sequence), where wave (W) ended at 10798, wave (X) ended at 10400, wave (Y) ended at 11487, and second wave (X) ended at 11404.3. With a break above previous wave (Y) at 11487, instrument is showing … [Read more...]

EURJPY Elliott Wave (4) nearing completion

EURJPY 10 January 8 Hour Elliott Wave Analysis

EURJPY has been in a sideways consolidation for the last few weeks and today it broke lower from the consolidation. Many might view it as start of a sustained decline but looking at the choppy nature of the decline from blue (3) peak, we are viewing it as a wave (4) blue pull back of an incomplete 5 wave Elliott wave cycle up from 6/24/2016 low. Wave (4) could unfold as a simple 3 wave pull back, double three, triple three, zig-zag, FLAT or a triangle. In this wave count, wave (4) has taken the … [Read more...]