Elliottwavecorrection
Elliott Wave View: Gold Buyers Should Appear SoonElliott wave view in Gold suggests that rally from August 16, 2018 low ($1160.37) is unfolding as an Elliott Wave Impulse structure. Rally to $1326.53 ended wave (3). Wave (4) pullback is in progress as a double three Elliott Wave structure. Down from $1326.53, wave W ended at $1302.4 and wave X ended at $1318.17. Internal of wave W takes the form of a zigzag Elliott Wave structure. Wave ((a)) of W ended at $1308.40, wave ((b)) of W ended at $1316.9, and wave ((c)) of W ended at $1302.40.
Internal of wave X takes the form of a double three Elliott Wave of a lesser degree. Wave ((w)) of X ended at $1315.63, wave ((x)) of X ended at $1303.4, and wave ((y)) of X ended at $1318.17. Wave Y is proposed to take the form of a zigzag Elliottwave structure where wave ((a)) ended at $1304.90. Near term, while wave ((b)) bounce stays below $1326.53, expect another leg lower to $1288.28 – $1293.98 in wave ((c)). This move lower should also end wave Y of (4). Expect buyers should appear in this area for new high in wave (5) or at least a 3 waves bounce. We do not like selling Gold.
Elliott Wave View: Further Rally in Nikkei FavoredShort-term Elliott wave view in Nikkei suggests that the Index has ended correction at 20169 as wave ((X)) and starts a new leg higher. Decline to 20169 on 8 February took the form of an Elliott Wave Expanded Flat. An Elliott Wave Flat structure has an ABC label with subdivision of 3-3-5. We can see from the 1 hour chart wave (B) of this FLAT ended at 20970 and wave (C) ended at 20169. Subdivision of wave (C) unfolded as a 5 waves Impulse Elliott Wave structure. Down from 20970, wave 1 ended at 20815, and wave 2 ended at 20895. Wave 3 ended at 20270, wave 4 ended at 20370, and wave 5 ended at 20169.
The Index has since rallied and broke above the previous high on February 5th, suggesting the next leg higher has started. Rally from Feb 9th low (20169) is unfolding as a 5 waves Impulse structure. Up from 20169, wave 1 ended at 20480 and wave 2 ended at 20390, wave 3 at 21198 and wave 4 at 21060 low. Expect ideally 1 more leg higher in the Index to end the 5 waves up. Afterwards, it should pullback to correct the cycle from Feb 9 low within wave (B) in 3, 7, or 11 swing. As far as pullback stays above 20390 low, expect the Index to extend higher. We don’t like selling the Index.
Tesla Elliott Wave Bearish Sequence Favoring More DownsideTesla ticker symbol: $ TSLA short-term Elliott wave view suggests that the cycle from 12/7/2018 peak is showing incomplete structure favoring more downside still. Down from that peak, the decline is unfolding as an impulse structure with sub-division of 5 waves structure in lesser degree cycles. When a decline to $279.28 low ended wave (1) in a lesser degree 5 waves structure. Above from there, Tesla corrected the cycle from 1/16/2019 peak ($352) in wave (2) bounce.
The internals of that bounce unfolded as double three structure with lesser degree cycles showing the sub-division of 3-3-3 corrective structure in each leg. Up from $279.88 low, the initial bounce to $318 peak ended wave W also in lesser degree double three structure. Down from there, a pullback to $290.51 low as zigzag structure. Above from there, a rally to $324.19 high ended wave Y as Elliott wave zigzag structure. And also completed the wave (2) bounce.
Near-term, as far as bounces fail below $324.19 high expect Tesla to extend lower in wave (3) lower towards $264.11-$243.39 area lower initially. However, a break below $279.28 low will add more conviction to this bearish view & avoid Elliott wave double correction in wave (2) bounce.
Elliott Wave View Suggest More Upside in General ElectricElliott wave view in General Electric (ticker symbol: $GE) suggests that the rally from December 11.2018 low ($6.66) is unfolding as Elliott wave zigzag structure when the first leg of a bounce ended in lesser degree 5 waves structure in wave A at $9.25 high. Down from there, wave B ended 3 wave pullback at $8.56 low. Zigzag (5-3-5) is a combination of 3 waves corrective sequence labeled as A, B, C. The inner sub-division of wave A & wave C consists of 5 waves structure either as impulse or a diagonal. While wave B can be any 3 wave corrective sequence.
Up from $8.56 low, wave C is unfolding in another 5 waves structure where lesser degree wave ((i)) ended at $9.21 high. Wave ((ii)) pullback ended in lesser degree zigzag structure at $8.65 low. Wave ((iii)), also unfolded in lesser degree 5 waves & ended at $10.77 high. Below from there, wave ((iv)) pullback ended at $9.92 low. Wave ((v)) remain in progress in lesser degree 5 waves structure and should be looking to extend higher 1 more push towards $11.15-$12.76 100%-161.8% Fibonacci extension area of A-B before ending the wave C of a zigzag structure in a bigger wave (4). Afterwards, General Electric is expected to resume the downside or should do a 3 wave pullback at least. Near-term, as far as the pivot from $8.65 low stays intact expect stock to extend higher.
HRL:NYSE HORMEL FOODS CORP. Elliot Wave Analysis HRL :NYSE HORMEL FOODs CORP. Elliot Wave Analysis
Hello Traders!
From a technical point of view, the stock may have completed the bullish impulsive structure (12345) + a corrective structure ( ABC ).
NEXT UP 3900 FOR BTCWe have just completed a full on ABC. Wave C have just finished its 5th wave, of the 1:1 fibonacci of A-B, which indicates that we should see a upward movement.
Also the 4H RSI is telling us that we have a bullish divergence which confirms the Elliott wave count.
A movement up to 3900 is reasonable, as it is the top resistance of the falling wedge.
Short Term Elliott Wave View in Oil Favoring More UpsideOil's (CL_F) short term Elliott Wave view shows that the decline from 10/3/2018 high ended as 5 waves impulse in wave a at $42.41. The cycle from 10/3/2018 high has ended and Oil should now see at least a 3 waves rally. The rally from $42.41 is unfolding as Elliott Wave zigzag structure where wave ((A)) is currently in progress.
An internal of a zigzag is 5-3-5, which means that wave ((A)) should subdivide in 5 waves impulse Elliott Wave structure. Up from $42.41, wave (1) ended at $47, wave (2) ended at $44.35, and wave (3) ended at $52.58. And the pullback in wave (4) can also have ended at 51.38 low and Oil can rally 1 more leg higher in wave (5) to end 5 waves up and complete wave ((A)). After wave ((A)) is complete, it should pullback in wave ((B)) to correct rally from 12/25/2018 low ($42.41) in 3, 7, or 11 swing before the rally resumes again in wave ((C)).
Perfect Elliot Wave In Ashok Leyland (Probability 2)We're in the correction waves of Elliot with a perfect head and shoulders at the end of impulse. Another head and shoulders is seen in making which also completes the corrective waves. (Fundamentally company is cool, this is just the mood of investors captured by the Great Elliot
Perfect Elliot Wave In Ashok Leyland (Probability 1)We're in the correction stage of the long term elliot wave in Ashok leyland. Perfect head and shoulders seen at the end of Elliot's impulse wave.
Hence there can be two possibilities according to elliot wave (there can be more, is pointed two most probable) and this is Probability 1
BTC X-mas price action forecastBitcoin has completed the 5-wave impulse sequence. And now for the 3-wave A-B-C corrective sequence. So I would expect something like this. Merry Christmas!
USD/JPY Elliot Wave Buy Set Up W-X-YLook for the corrective structure to come to an end, then look for a Buy Set Up that would start the next impulsive wave to finish the bigger structure.
AUDUSD -600 PIPS DONE - ABC & BACOIL
GOLD
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AUDUSD
EUR/CHF Elliot Wave Sell Set UpLook for the Seall Set up and the upcoming Bearish Wave. Price completed a A-B-C Corrective structure also completing a Bearish Gartley Harmonic pattern.
USD/JPY Elliot Wave Multi Move ForecastLook for price to finish the corrective structure to the downside before we get the big bullish wave to the the upside. This forecast present both Buy and Sell set ups. Look for the set ups
[EURUSD] BEARISH TRENDFrom our point of view, the pair could still consolidate around bottom in the short term, so our view remains bearish with a short position.
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Elliott Wave View favoring more upside in NIFTYHello Traders,
NIFTY is showing an incomplete sequence to the upside in the short term, favoring more upside while above 11/26 low (10487.1). Near term, cycle from 10/26 low (10004) remains in progress as a zigzag Elliott Wave structure. Blue Wave (A) ended at 10774.7 as 5 waves impulse Elliott Wave structure and blue wave (B) ended at 10487.13 low.
Blue of wave (A) unfolded as an impulse where red wave 1 ended at 10285.1, red wave 2 ended at 10105.10, red wave 3 ended at 10619.55, Red wave 4 ended at 10440.55, and red wave 5 of (A) ended at 10774.7. Blue wave (B) pullback unfolded as a double three Elliott Wave structure where red wave W ended at 10562.35, red wave X ended at 10646.25 and red wave Y of (B) ended at 10487.13.
Up from 10487.13 low, blue wave (C) is in progress as a 5 waves impulse Elliott Wave structure where red wave 1 ended at 10941.20 and red wave 2 pullback is proposed to be completed at 10831 and ideally should extend higher as long as it stays above that level but more importantly above 10487.13 low. We don’t like selling it as the right side is to the upside.
Elliott Wave Analysis: USDJPY Looking for Further StrengthHello traders,
USDJPY Short term Elliott Wave View in USDJPY suggests that the pullback to 112.27 ended black wave ((x)). Internal of black wave ((x)) unfolded as a zigzag Elliott Wave structure where blue wave (a) ended at 113.07, blue wave (b) ended at 113.7, and blue wave (c) of ((x)) ended at 112.27. Black wave ((y)) rally is now progressing as a double three Elliott Wave structure.
Up from 112.27, blue wave (w) ended at 114.04 with internal as a zigzag Elliott Wave structure. Red wave a of (w) ended at 113.23, red wave b of (w) ended at 112.63, and red wave c of (w) ended at 114.04.
Near term, blue wave (x) is expected to find support in 7-11 swing as far as pivot at 11/20 low (112.27) remains intact. We don’t like selling the pair.
Elliott Wave Analysis: How Much Further Can Oil Drop?Hello Traders,
Short term Elliott Wave view on Oil suggests that the decline starting from Oct 3 high ($76.9) remains in progress as a 5 waves impulse Elliott Wave structure. Down from Oct 3 high, black wave ((1)) ended at $68.47 and black wave ((2)) ended at $69.66. Black wave ((3)) ended at $54.75 and black wave ((4)) is proposed complete at $57.37.
Consistent with the guidelines in Impulse Elliott Wave structure, Black wave ((3)) also unfolded as 5 waves of lesser degree. Down from $69.66, Blue wave (1) of ((3)) ended at $65.74 and blue wave (2) of ((3)) ended at $67.95. Blue wave (3) of ((3)) ended at $59.26, Blue wave (4) of ((3)) ended at $61.28. The final leg wave (5) of ((3)) ended at $54.75.
Black wave ((4)) ended at $57.37 as a double three Elliott Wave structure. Wave (W) of ((4)) ended at $56.49, wave (X) of ((4)) ended at $55.53, and wave (Y) of ((4)) ended at $57.37. Near term, while rally fails below $57.37, and more importantly below $61.35, we expect Oil to extend lower. If Oil breaks above $57.37, then Oil is doing a double correction and can open more upside in 7 swing before the decline resumes. For the downside target, one way to measure wave 5 target in Elliott Wave Theory is wave 1 equal to wave 5. If we project wave ((1)) length to the beginning of wave ((4)), we can estimate potential target for wave ((5)) at $47 – $49. We don’t like buying Oil.
$BCC $BCH forming a PERFECT double and triple zigzag..Seems to be forming Elliott's original labelling of double and triple zigzags and double and triple threes.
Labeling the successive actionary components of double and triple corrections as waves W, Y, and Z, so that the entire pattern is counted "W-X-Y (-X-Z)." The letter "W" now denotes the first corrective pattern in a double or triple correction, Y the second, and Z the third of a triple. Each subwave thereof (A, B or C, as well as D or E of a triangle) is now properly seen as two degrees smaller than the entire correction. Each wave X is a reactionary wave and thus always a corrective wave, typically another zigzag .
Let's see if it continues to play out as I suspect it will.
