Ewbelgium
ADBE - Follow up - Getting ready to rallyOn my previous post a few days ago, I highlighted this orange zone from which a bounce is highly likely if the primary count is correct.
Today we are seeing it go up with other mega caps.
Right now it look like it's making a 5 wave advance which would be a great bullish sign but we only have 3 waves up for now.
I already have a position here but I will look to add to it if we get 5 waves up followed by a correction lower which needs to remain above 453.2 !
AMZN - Finally on the move. Going for 3830 at firstFollow up to my previous post.
Yesterday I warned that all big names like FB, GOOG, AAPL, MSFT, NVDA are in a tight consolidation and they are needed to go higher if we are to see a sustained bull rally.
Up until now, it's been the small caps taking prices higher and so a push up by the big guys will really launch the multi-year bull market in my opinion.
DADA - Up it goes 45.8 first, 58.8 nextThis is a follow up to my previous post you can check out below.
Bullish view is intact as this one (any many other Chinese stocks) have held perfectly during current market correction.
As long as invalidation holds, I see no reason to not have a position here and in Chinese stocks in general (other good one for exemple is ZI)
Previous post:
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DAX - Simple bullish breakout setupThis is a simple setup that could yield around 300-350points.
Simply waiting for a break above the resistance zone.
Personnaly, I'm putting a buy order at 13250 with a Stop of 60points.
If we see a big candle breaking higher with high volume confirming the move, I will immediately move my stop to it's opening price.
Beware fake-outs though !
If price breaks out but comes back down again, support is around 13150 at first followed by 13096 next.
If this goes below that level I will simply cancel my order.
Gold- Effectiveness of the WaveTheory with a touch of self promoThis is clearly for promotion purposes as you can see but also shows the effectiveness of the wave Principle which is deadly accurate sometimes !
Here you can see the chart that I shared with my subscibers on 29 Sep 2020 and where we are currently.
S&P500 - Bulls still not out of the woods ...S&P500 - Despite the optimism we're seeing in the markets today, I wouldn't go on a buying spree right away.
Many setups have been popping up but I still believe we're in a bad phase right now and there is a high chance for markets to sell off and make new lows.
What the catalyst might be, I don't know... Maybe Trump will not acknowledge the results ? Who knows
What I do know is that it's possible we're in a Flat correction here (or next leg of a sideways Triangle) therefore be particularly careful because the potential sell off could be very sharp!
Ethereum - Doesn't look good right now !Made only 3 waves down and currently is up in 3 and is at the 161.8% projection of orange wave a from b and the 127.2% of (w) from (x).
This is an important Fib cluster that can react as resistance and the fact that we also have the 78.6% retracement level of the Diagonal doesn't help the bulls.
Therefore, unless we see a new high above 420, I recommend to be very cautious here or short if you like.
Nat Gas - Classic patterns vs Elliott WaveWe can make the case for this being a rising Wedge Pattern or in terms of the Wave Principle, an Ending Diagonal fifth wave.
Looking at the Wedge pattern, there's nothing wrong here and we can short if price goes outside the pattern.
But there are two problems with this view according to the wave Principle :
1) Wave 4 did not enter wave 1 territory altough this can happen on rare occasions.
2) Proportions wise, wave 3 is bigger than wave 1 which is possible in case we have an Expanding Diagonal but because wave 4 is smaller than wave 2 here, I don't think that's the case.
This then leaves us with the Extended fifth wave possibility I talked about on the last update.
We can therefore expect something similar to this or possibly even much higher prices than 4.00 if it really starts to get extended.
NZDUSD - Follow up to previous post This is a follow up to my previous post and is here simply to show the effectiveness of the Elliott Wave Principle and one way to apply it.
We shorted this ending diagonal right after closing our longs because for 2 reasons : 1) We got an Ending Diagonal wave 5 which should be followed by a sharp reversal.
2) We got could count 5 waves up, and the wave principle tells us that a reversal should then follow.
Here's how we played this with my subscribers:
14 Oct 18:13 :I'm shorting this one. 20pip risk is nothing
16 Oct 01:23 : Our short was a great idea and played out perfectly here. I'm going to close and take 2/3 of my profits and move stop to 6652 for the rest.
20 Oct 01:52 : I prepared the chart yesterday but didn't find the time to look it up today and sadly missed a nice opportunity to re-enter again on those one... Sorry 🙏
Let's now see if it can go outside this rising channel and below 6576 at which point we maybe can get a new shorting possibility.
20 Oct 17:09 : Testing lower channel line. If it stays sideways here, we could get a new short entry possibility.
BYND - Big up if support holdsBYND - Here's a new one for our watchlist. Not sure a retest of the support zone is for right now but once 5 up are done, it's a possibility and occasion for a long.
For now, it looks like a simple wave 4 correction.
A break above the channel should take this for a fifth wave higher.
S&P500 - New high comingAlthough we have the risk of this being a 3 waves rise, by the looks of it I tihnk we'll see a new high as this move has the caracteristics of a corrective wave 4.
Looking at the number of stocks that keep on breaking out of corrective bases and making new highs (look at my profile) but also looking at the Advance/Decline Line we can see that we have positive divergence with ADL making new high while the indexes are still below their previous high, this gives me confidence in my outlook that the move higher will continue.
AMD - Long towards 90/92 then bigger pullback before big rally ?Just follow the noted path.
If wave (iv) has ended then we should see the fifth wave higher, completing a higher degree wave 1.
We then need to see a corrective wave 2 that must hold above the beginning of wave 1 at 73.80 for this stock to rally to new highs.
Natural Gas - Forget it's winter, demand and price should go upWe have a clear 5 waves rise here as you can see.
Therefore, I suggest to only look for shorts now until we reach the 50%-61.8% retracement zone.