USDJPY has reached equal legs up from 117.20 as was expected during the weekend Elliott wave update. Another high toward 120.25 is still expected to complete the current Elliott wave cycle i.e. wave (( w )) before we get a pull back in wave (( x )) and higher again. Risk / reward is not great […]

In yesterday’s post we said FTSE dip was corrective and should find buyers soon for the next leg higher. Index rallied as expected and we think wave X low is in place at 6636. Rally from 6636 low is taking the form of an Elliott wave impulse which we have labelled as wave (a). Once […]

Gold dropped at start of the week and then rallied sharply. Let’s take a look at where the yellow metal stands right now. We know commodities are in the process of ending big cycles but there is no confirmation that the cycles has ended. Decline from July peak in Gold is not a 5 wave […]

Index has been trending higher since forming a secondary low at 6448 i.e. wave (X). It has tested 0.618 – 0.764 ext area of (W)-(X) and has completed wave W of ( Y) at 6773. Wave “X” pull back is in progress as a 7 swing Elliott wave structure. Levels of interest on the downside are […]

Yellow metal has resumed the decline as expected and yesterday our system confirmed that cycle from 1131 low had ended and that wave ( X ) high should have been in place at 1208.We are beginning to see more confirming price action for that today. We think we have seen a short-term connector wave (x) […]

Daily cycle in the pair is very stretched and a decent pull back could start at any moment but there is no confirmation yet that daily cycle has ended so trading strategy in the shorter cycles is still to buy the dips in the sequence of 3, 7 and 11 swings. Pair has already done […]