ElliottWaveBelgium

ElliottWaveBelgium Updated 

Gold went up but forgot to tell silver. Now, both are going down for a correction and looks like they will both rise soon. While gold should be limited to the upside, Silver, on the other hand, has the possibility to go up to 17! Count gets invalidated if price goes below invalidation level.

ElliottWaveBelgium Updated 

This is the count I've been following for the last year now were we have a bullish triangle for wave B. Usually in triangles, price goes up and down around 61.8%/78.6% of the previous wave but here wave E is only a bit more than 38.2% but it's still valid. Now, if we see a sustained rise above 1347 at first then 1365, we can consider the triangle as...

ElliottWaveBelgium Updated 

We finished this ending diagonal it seems and price is now grinding higher for wave (1) of larger degree wave C. After this impulsive wave up, we should see a pullback after which we can look to go long. The impulsive count gets invalidated if price goes below last low around 14.30.

ElliottWaveBelgium Updated 

We have been in this big triangle since March. I have this as a bullish triangle so we should see an upside break after one more push lower for wave E which should end around the 61.8%/78.6% retracement levels (sometimes it can even do it without even touching the 50% level, that would just be bad luck, nothing to do) Note that, if we go below the invalidation...

ElliottWaveBelgium Updated 

We got a leading diagonal down followed buy current ABC correction. We are now in wave C which is close to the 161.8% projection level of wave A. A bit higher, we also have he 78.6% level, which is the last line of defense for bears, if it breaks, there's a high chance bulls keep their momentum even longer. Don't try to catch the top, that's foolish, best is to...

ElliottWaveBelgium Updated 

Looks like we are completing 5 waves for this wave red wave ((c)) of B/2, which means reversal is around the corner. If the price goes above that red neckline, it would indicate the bottom is in and we will then see price rally higher towards 0.73. Notice also that we are at the 61.8% retracement level of previous blue wave A, which is often a reversal...

ElliottWaveBelgium Updated 

We are approaching the end of this bullish trend and should see a big reversal lower. Don't try to catch the top, it will only frustrate you, First wait for a 5 waves drop below 1.7040, which is the bearish level. You can also look for bearish divergence which indicates the trend is coming to an end.

ElliottWaveBelgium Updated 

Price made a nice Leading Diagonal from ~66.50 to ~60.00 We are now in a correction which might find resistance around 64.00 where we can find the 61.8% retracement level, the 1.27 projection of wave (a) and the upper channel line. If the price goes above the 78.6% retracement level, it's an early sign that a new top might be coming, therefore invalidation...

ElliottWaveBelgium Updated 

We are in wave C of a big ABC correction (look Daily chart below). Price is now at 78.6% retracement level of wave (A), 100% projection of wave , i.e = , (very powerfull relationship!) When looking at wave , we can see price sitting in a Fib cluster, with a perfect touch of the 61.8% projection level(blue) of wave ((i)). If managed correctly this move up...

ElliottWaveBelgium Updated 

DAX has much more upside potential here. We should be in wave ((3)) now but if we see a pullback, it's highly probable for it to be wave 2 of this higher degree ((3)) but it needs to hold above 11860 in that case. Of course, if we see a sharp decline going below 11860 and ultimately 11835 then the bullish count gets invalidated and we are still in a correction...

ElliottWaveBelgium Updated 

Looks like we are in orange wave v of larger degree (iii) This wave v is playing out as an impulsive wave, and we might be in pink wave ((3)) for now. So a small pullback to around the pink levels should come as wave ((4)) before we go higher once more for pink ((5)). If the pullback is a bit deeper, then we can consider turquoise wave (iii) as completed and this...

ElliottWaveBelgium Updated 

This count suggests we will see higher prices here after this WXY correction. I like this one a bit more than the alternate count because wave W and X are clearer this way but, we need to be cautious with this wave Y because it's possible for it to be only wave (a) of ((y)), meaning the move to the upside should be limited. So, only a big sharp break above...

ElliottWaveBelgium Updated 

We should still be in the making of this fifth wave of (c), so, we need to be patient and wait for price to break the channel lines and move above wave iv of (c) before considering going long. Ideally, price should remain above the 78.6% level, a move below that shifts the odd towards continued weakness. And if price moves below the invalidation level, the...

ElliottWaveBelgium Updated 

We've been in this slight upside move since December now and it's nearing its termination point. So, start taking profits on your long and be on the lookout around the 1.98 - 1.99 zone for a potential reversal. A good confirmation of that reversal would be a sharp decline in 5 waves outside the channel line. I recommend waiting for that first before opening any...

ElliottWaveBelgium Updated 

We've been tracking this move for more than a month now and it's finally coming to an end. We should now be in the last wave of this large triangle. Be aware that wave E can stop without touching the lower trend line or it can sometimes overshoot it, but needs to remain above wave (c) at 1.4985. if we want to see higher prices.

ElliottWaveBelgium Updated 

We've been tracking this move for more than a month now and it's finally coming to an end. We should now be in the last wave of this large triangle. Be aware that wave E can stop without touching the lower trend line or it can sometimes overshoot it, but needs to remain above wave (c) at 1.4985. if we want to see higher prices.

ElliottWaveBelgium Updated 

We should now be in wave ((c)) of B, unfolding as an impulse higher. Now in wave 4 of it. Once it ends, we'll see one more push higher with first resistance at 1.703 and second and biggest one at 1.720 from where a big reversal should happen towards blue wave C lower that could get us down to 1.575 ~ 1.558. If for any reason price goes straight below 1.660, the...

ElliottWaveBelgium Updated 

We have some important support right now, 61.8% retracement level A = C, support from previous wave 2. If price does not go below 123.60 invalidation level, we will see price rally higher! (!! Beware tonights BoJ Conference if you take any JPY trades!!)