Get started

Elliottwaveretracement

Elliott Wave View: Short Term Support in FTSEShort term Elliott Wave view in FTSE calls the move lower to 7150.9 on May 13 as wave A. This suggests that the move lower from April 23 is unfolding as a zigzag Elliott Wave structure. Wave B bounce is currently in progress to correct cycle from April 23 high before the Index turns lower. Internal of wave B is unfolding as another zigzag Elliott Wave structure in lesser degree. Up from 7150.9, wave ((a)) ended at 7360.34 and wave ((b)) ended at 7267.84. Wave ((a)) unfolded as 5 waves where wave (i) ended at 7264.18 and wave (ii) ended at 7223.08. Index then resumes higher in wave (iii) which ended at 7353.51, wave (iv) ended at 7307.33. and wave (v) of ((a)) ended at 7360.34. While short term dips stay above 7269.33, expect Index to extend higher. Potential target for wave ((c)) of B comes at 100% – 123.6% extension of ((a)) which is 7477.9-7527.39. Index also should not break above May 13 at 7528.93 or else it will open further upside. If Index instead breaks below 7267.84, then either wave ((b)) is unfolding as an expanded Flat structure or wave ((c)) of B truncates and Index has turned lower.
TVC:UKXLong
by Elliottwave-Forecast
Elliott Wave View: Alibaba Has Started the Next Leg LowerShort term Elliott Wave view in Alibaba (BABA) shows an incomplete sequence from May 4, 2019 peak. The decline from there can either unfold as a zigzag or impulsive Elliott Wave structure. We use the impulsive structure as the chart below shows that the rally to $183.44 ended wave ((2)). This means, Alibaba is now within wave ((3)) lower. In Elliott Wave Theory, wave ((3)) is typically the strongest and longest wave in impulse structure. Wave ((3)) is currently in progress as an impulse Elliott Wave structure where the stock is ending wave (1) of ((3)). Down from $183.44, wave 1 ended at $173.32, wave 2 ended at $180.24, wave 3 ended at $160.02, and wave 4 ended at $165.58 Another leg lower should end wave 5 of (1). The stock should then bounce in wave (2) to correct cycle from May 15, 2019 high before the decline resumes. We don’t like buying the stock and expect any rally to fail in 3, 7, or 11 swing for further downside as far as bounce stays below $183.48. A conservative target where the 3 swing from May 4, 2019 peak reaches equality comes at $149.7 – $156.2.
NYSE:BABAShort
by Elliottwave-Forecast
USDJPY Elliott Wave View: Can see more upsideShort term Elliott Wave view in USDJPY calls the decline from April 25 peak (112.4) ended as wave A at 108.99. This suggests the decline from there is unfolding as a zigzag Elliott Wave structure. Wave B bounce is in progress to correct cycle from April 25 peak in, 7, or 11 swing. The internal of the bounce is unfolding as Elliott Wave double structure. Up from 108.99, wave ((w)) ended at 110.042 and wave ((x)) at 109.470. Wave ((y)) of B is in progress as and should see the areas of 110.52. While it stays above 109.470 low we expect the pair to extend higher for now.
by Elliottwave-Forecast
1
Bitcoin Wave Analysis Bullish Wave To Create Higher HighsBitcoin formed a big corrective structure all of 2018 and I believe it have ended. Price have began to rise quite impulsively from the $3,270 low of December 2018. Price is approaching a strong resistance/supply area around the $10,000 level wgere I believe we will encounter some weakness which will give people a chance to buy the pullback. In conclusion I do believe Bitcoin will keep gaining strength throughout the year eventually creating new highs.
BITFINEX:BTCUSDLong
by JjohnsonBeGreat
SPX in A-B-C Correction; B Wave near completion; lower soon!Chart says it best. Got an A-B-C in progress. Very clear downtrend, A-leg in defined channel, high volume in selling, small volume buying. Definite 5-wave Elliott impulse forming in the reactionary B wave. Fifth and final wave should push to the 0.786 Fibo at 2905. Then enter C. This ABC is in turn part of a larger zig-zag correction in progress since Jan 2018, complete with triple top. This is the right shoulder of a peak formation which in turn is the right side of a Grand H&S. Do not sell puts short now, it will not be free money! As always, not investing advice, just an idea. Trade at ur own risk; GLTA!
SP:SPXShort
by DaddySawbucks
6
Elliott Wave View: Nasdaq Looking to Turn LowerNasdaq (NQ_F) decline from April 25 peak (7879.93) unfolded as an impulsive Elliott Wave structure and ended wave ((A)) at 7290. The internal of wave ((A)) unfolded as a 5 waves impulse. Down from 7879.93, wave (1) ended at 7682.25 and wave (2) ended at 7872.50. Wave (3) ended at 7481, wave (4) ended at 7637, and wave (5) of ((A)) ended at 7290. Subdivision of wave (1), wave (3), and wave (5) also unfolded as 5 waves as the chart below shows. Wave ((B)) bounce is in progress to correct cycle from April 25 peak. The internal of wave ((B)) is unfolding as a double zigzag Elliott Wave structure. We don’t like buying the Index and expect rally to fail in 3, 7, or 11 swing for more downside or at least 3 waves pullback. This view remains valid as far as pivot at 7879.93 high stays intact.
CME_MINI:NQ1!
by Elliottwave-Forecast
Elliott Wave View: Rally in Netflix Expected to FailElliott Wave view on Netflix (NFLX) shows an impulsive structure from May 2 peak ($386.26) . The move lower from May 2 ended wave 1 at $342.5. Internal of wave 1 subdivided as a 5 waves where wave ((i)) ended at $377.25 and wave ((ii)) ended at $385.16. Down from there, wave ((iii)) ended at $352.75, wave ((iv)) ended at $365.26, and wave ((v)) of 1 ended at $341.37. We can further see from the chart below that wave ((iii)) and wave ((v)) subdivided also as a 5 waves impulse in lesser degree. This illustrates the fractal nature of Elliott Wave Theory. The stock has now ended cycle from May 2 peak. It is correcting that cycle in wave 2 bounce before the decline resumes. Expect the rally to unfold in 3, 7, or 11 swing. As far as pivot at 386.26 high remains intact, the stock should resume lower again. Potential target for wave 2 is 50% – 61.8% retracement of wave 1 which comes at $364.3 – $369.5. We don’t like buying the proposed rally. If Netflix breaks below $342.5 instead, then the 5 waves impulse move from May 2 peak is still progressing.
NASDAQ:NFLX
by Elliottwave-Forecast
Elliott Wave View: Downside Pressure in USDJPYhort Term Elliott Wave is calling for an impulsive move in USDJPY from April 25, 2019 peak. Down from 112.4, wave ((i)) ended at 111.36 and wave ((ii)) ended at 112.03. Wave ((iii)) ended at 109.44, and wave ((iv)) ended at 110.05. Internal of wave ((iii)) subdivides also as an impulse of lesser degree. Down from 112.03, Wave (i) of ((iii)) ended at 111.02, wave (ii) of ((iii)) ended at 111.7. Wave (iii) of ((iii)) ended at 110.27, wave (iv) of ((iii)) ended at 110.96, and wave (v) of ((iii)) ended at 109.44. Bounce in wave ((iv)) ended at 110.05 as a zigzag structure. Below from there it made a new low suggesting that wave ((v)) is in progress. While below 110.05 peak it should extend lower.
by Elliottwave-Forecast
Elliott Wave View: Impulsive Decline in NikkeiOur Elliott Wave view on Nikkei suggests the rally to May 4, 2019 high (22505) ended wave w. This ended cycle from December 26, 2018 low and the Index is in the process of at least doing a larger 3 waves pullback. Short Term, decline in Nikkei from May 4, 2019 high is unfolding as an Elliott Wave impulse structure. Down from 22505, wave 1 ended at 21935 and wave 2 ended at 22245. Wave 3 ended at 21080 low. Expect wave 4 bounce to fail in 3, 7, or 11 swing as far as wave 2 pivot at 22245 stays intact. Possible target for wave 4 is 23.6 – 38.2 retracement of wave 3 at 21539 – 21672. Alternatively, Index can end the entire 5 waves from May 4, 2019 high already. In this case, it should do a larger 3 waves bounce to correct the cycle from May 4 high before the decline resumes. We don’t like buying the Index and expect further downside in the Index to complete a 5 waves down.
NShort
by Elliottwave-Forecast
Elliott Wave View: Further Weakness in GBPJPYShort Term Elliott Wave view on GBPJPY suggests that further downside is expected. On the chart below, wave ((iii)) ended at 143.74 and wave ((iv)) bounce ended at 146.51. Pair has since broken to new low below 143.74, validating the downside bias. Internal of wave ((iv)) unfolded as a zigzag Elliott Wave structure where wave (a) ended at 145.87, wave (b) ended at 144.78, and wave (c) ended at 146.5. Wave ((v)) is currently in progress as an Elliott Wave impulse structure. Down from 146.5, wave (i) ended at 144.96, wave (ii) ended at 145.37 and wave (iii) is still in process. Internal of wave (i) and (iii) also subdivided as an 5 waves Elliott Wave structure in a lesser degree. After ending wave (iii) we expect wave (iv) bounce to fail in 3, 7, or 11 swings for further downside. We don’t like buying the pair and as far as pivot at 146.5 peak stays intact it should continue lower.
Short
by Elliottwave-Forecast
Elliott Wave View Expecting AUDJPY to Extend LowerAUDJPY shows an incomplete Elliott Wave sequence from April 17, 2019 high, favoring more downside. The 100% target can reach as low as 75.7 – 76.3. In the chart below, the bounce to 78.94 ended wave 2. Wave 3 is currently unfolding as an Elliott Wave impulse with wave ((i)) of 3 ended at 76.77. The internal of wave ((i)) subdivided as another impulse structure of lesser degree. Wave (i) of ((i)) ended at 77.81 and wave (ii) of ((i)) ended at 78.18. Down from there, wave (iii) of ((i)) ended at 76.96, wave (iv) of ((i)) ended at 77.55, and wave (v) of ((i)) ended at 76.77. Wave ((ii)) ended at the blue box area (78.041). We don’t like buying the pair and like to stay short from the blue box area with a risk free position. As long as it stays below 78.041 peak it is expected to extend lower.
by Elliottwave-Forecast
LTCUSD EW Count with Pitchfork & Orderblocks LTC has been leading the market with small and shallow retracements since Jan 2019. What is that screaming? A wave 3 push. Forecast: Short Term: waiting for a retracement and complex wave 4 correction before pushing higher. Long Term, the completion of wave 5 which should take us to the 0.5 fib level (around 160) of the Y move before starting the Z of a WXYXZ (confirmation after breaking Dec 2018 lows) or push higher to break ATH. Trade Status: Neutral until support by the weekly order block is held and high is broken along with Pitchfork warning line.
COINBASE:LTCUSD
by tvlester
Elliot Wave View: Impulsive Decline in CADJPYShort Term Elliott Wave view in CADJPY calls the bounce to 84.37 on April 17, 2019 as wave 2. The pair is currently in wave 3 lower and the internal subdivides as an impulse Elliott Wave structure. Down from 84.37, wave (i) ended at 83.49, wave (ii) ended at 83.925, wave (iii) ended at 82.66, wave (iv) ended at 83.33, and wave (v) ended at 82.53. This 5 waves decline ended higher degree wave ((i)) of 3. Pair is currently in wave ((ii)) of 3 correction and the internal subdivides as a Flat Elliott Wave structure. A Flat is an ABC structure with subdivision of 3-3-5. Up from 82.53, we can see wave (a) ended at 83.2 and subdivides in 3 waves. Wave (b) ended at 82.59, and wave (c) ended at 83.35 peak. The blue box of 83.26 – 83.67 shows 100% – 161.8% fibonacci extension of wave (a)-(b) was the area where it was expected to end wave ((ii)). More importantly however, as far as the invalidation level of 83.35 stays intact, expect the bounce to fail and pair to extend lower.
by Elliottwave-Forecast
Elliott Wave View: More Weakness in GDXElliott Wave view calls the decline in Gold Miners ETF (GDX) from March 27, 2019 high ($23.40) as an impulse structure. In the chart below, wave 2 of that impulse ended at $22.93. Down from there, wave 3 ended at $20.67 and wave 4 ended at $21.43. The miners still need to break below wave 3 at $20.67 to validate the view and avoid a double correction. The internal of wave 3 subdivides as an impulse Elliott Wave structure of lesser degree. Wave ((i)) of 3 ended at $21.89 and wave ((ii)) of 3 ended at $22.29. Down from there, wave ((iii)) of 3 ended at $20.71, wave ((iv)) of 3 ended at $20.97, and wave ((v)) of 3 ended at $20.67. Wave 4 bounce unfolded as a zigzag Elliott Wave structure. Wave ((a)) ended at $21.19, wave ((b)) ended at $20.76, and wave ((c)) of 4 ended at $21.43. Near term, while bounce stays below $21.43, and more importantly below $22.93, expect the miners to extend lower. Potential target to the downside for wave 5 is $19.6 – $20, which is where wave 1 = wave 5.
AMEX:GDXShort
by Elliottwave-Forecast