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NIFTY 50 Wave Analysis 20 JUN 2016As per my last post Nifty get Support from 8080 level and went upside but pattern not give view on further upside. I am going to review the wave count and come to the new support at 8035. If coming days Nifty fell to 8035 we can expect lot of buying on this level. The upside should be limited for this month as 8311 and trend will continue on next month also. Wave Projections for next month - Nifty may surge upto 8420 and 8650 level as quick as possible.
NSE:NIFTYLong
by tdurai84
Copper Bottomed Out! Wave 3 Started!! Copper Forecast!!Copper has potentially completed its Wave 2 correction and started its 3rd Wave. We see divergence to complete the wave v of C wave giving additional confirmations of the bottom. One can go long on Copper at current levels with stoploss just below 2.00 figure mark and Targets around 2.43 as Target 1 and 2.75 as Target 2. Its a nice risk reward trade. Happy Trading!! Happy Trading!! Siraj Hudda, CFTe Web: www.prowaveanalysis.com Skype: sirajhudda Email: contactus@prowaveanalysis.com Facebook: www.facebook.com Twitter: twitter.com LinkedIn: in.linkedin.com
FX:COPPERLong
by SirajHudda
Feeder Cattle - The ideally bottom for wave A seen at 130.78In October 2014 I called the top almost to the cent (see the link below). The decline from 244.80 is finally coming to an end near 130.78. Short term I'm looking for the final decline in red wave v of an ending diagonal and once the bottom is in place, a quick return to the origin of the ending diagonal at 169.58 should be seen, within half the time it took to build (that would amount to something like 3 months). That will however, likely be only the first part of wave B, as a continuation higher towards 187.80 and possibly even closer to 201.25 should be expected longer term. The clear divergence seen from the RSI indicator does confirm that, we are approaching the end of wave A and wave B can start soon. It's time to close the long term short position and shift towards a long position. Just a final word. Remember that correction in the commodity complex often is extremely violent. Just look at Soybeans and Soybean Meal.
F
by EWS
AUDJPY "POTENTIAL" clasic wave 4 formationHere is a the potential classic wave 4 formation. This should thrust down out of the triangle and then bottom and reverse if the assessment is correct. In a classic triangle, each subsequent wave should not exceed the path of the previous wave. and the triangle itself should not at anytime exceed the previous wave 5 termination. There are numerous other triangle-like formations possible however this is the most common one to appear in the wave 4 position.
by peterdcharlebois
EURUSD Long: A second Entry at Triangle CompletionEURUSD is nearing the completion of wave-(e) of a possible contracting triangle that could mark the end of wave-(2) before the three-of-C breakout. Entry at AB=CD inside of wave-(e) is confluent with the completion of a bullish cypher and may act as a catalyst for the bullish impulse. Long term target is placed at A=C. It is possible that another rebound off of the top of the triangle could occur, but we would avoid our SL as price would remain inside of the contracting triangle and the breakout would likely occur soon after.
Long
by glennmercer
6
USDJPY Short: Wave 5 Break + Retest (Elliott Wave TCT)USDJPY has completed wave 3 of a potential 5 wave structure. The pair has broken a trendline to complete wave (i) of 5 and is retesting the trendline at the .618 retracement To add resistance, the 200 EMA and SMA lines sit above price and below the SL level. The daily pivot may also add resistance near entry. Entry is placed at 61.8% retracement with SL above wave 4 terminus and target at the 1=5 level. This setup yields a R/R of over 5. Bearish Confluence: Trendline break and retest Pivot resistance 200EMA Resistance 200SMA Resistance Possible wave (i) of 5 completion Significant .618 fib level at entry
Short
by glennmercer
2