As I progress thru learning EW principle I like to revisit ideas and add some additional commentary on what MAYbe happening! Happy new year! Thanks for the continued support! :D
Hi Traders! This is my analysis on IBEX35. I think we are already going up for a new cycle, actually we are going for the third wave in it! I studied the possibility of a longer correction but the shape of the chart does not match with any of the most important complex patterns for corrective moves, so I got to this conclusion. We are looking now on smaller...
Hi Guys, Here we have a perfect Elliott Motive Wave in which we founf a Fifth Wave Extension, considered as an Ending Diagonal. The extension is broken and has formed a flag, so time to sell!! Carlos
It may not seem much. But here is the forecast till the end of 2017.
Two reasons to consider the USDCAD in downtrend. 1. This is last wave (Elliot Wave 5) of Basic Motive Phase. 2. Then here begin a first wave (Elliot Wave A) of Corrective Phase. 3. This is second wave (Elliot Wave B) of Corrective Phase. Note: This wave have inside two Elliot Wave. a) Bull Market Truncation (Red Color and Completed) b)...
On the 4h chart of EURCAD, we see that price was trading in a correction, because of a slow and sloppy price action. That said price made a double zig-zag labeled as red waves w-x-y. We think that correction might be over because of a sharp fall to the downside labeled as red wave i-circled. A recent pullback to 1.4984 could be red wave ii-circled, and now we may...
We see AUDUSD moving sideways around 0.7300 level, which we see as a temporary pause within ongoing downtrend. Keep in mind that we are tracking blue wave 5-circled, which is a motive wave, so we need five waves down from 0.8160. That said we expect new low soon, probably around 0.7000. www.ew-forecast.com
Dollar is bullish when compared to Turkish Lira but we see move out from a triangle in wave (iv) as shown on the 2h chart, which means that uptrend can be in final stages to complete wave 5-circle on a daily chart. Ideally near 2.8800-2.9000. So for the short-term traders there can be still some room for longs after coming black subwave iv. www.ew-forecast.com