ElliottWaveBelgium

ElliottWaveBelgium Updated 

Nasdaq - Correcting for potential red wave 4 before continuing higher. Invalidation is at wave 1 high. If price goes below that, it would make this rise a corrective move and would increase the odds for the indexes to continue lower

ElliottWaveBelgium Updated 

Gold - Could see one more push lower to finish 5 waves down if it doesn't go any higher now Alternatively, it finished wave A of higher degree Y and is making wave B now, so, it's best to just stay out of this move (unless day trading ofc).

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EURUSD - Bouncing off the noted VWAP zone. We also got A=C. Let's see how it will behave once it touches the orange zone resistance zone.

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ROL - New one I'm adding to my long term portfolio. Short term there are lots of opportunities here too.

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ZM - Not looking great today. We got just 3 waves up... Maybe we'll see a triangle form. Don't buy in again for now, let's see how things develop a bit more.

ElliottWaveBelgium

Reversed on the noted zone. (shared with Telegram subscribers few days ago). Looks good for now but if it drops below 96.80 we need to start thinking about other possibilities. Look for 3 waves correction to buy this.

ElliottWaveBelgium

Looks like a Triangle for now. So, price should fall as long as it remains below 6975. If this goes above the stop lvl, the forecast could still play out but instead of a triangle, we get a Flat correction. As long as price doesn't go above the 78.6% retracement level, I will remain with a bearish view here.

ElliottWaveBelgium

A drop below 3075 would be a good bearish sign. If price stops around 3185-3200 I will look to open a small short (1/3) and add if goes lower. ( But carful though as DJI, RUT and NDX aren't playing along! )

ElliottWaveBelgium

We got a 3 waves correction from the June 15th low which stopped at the 78.6% retracement level. Price is now going down in impulsive fashion and should continue doing it for the rest of the week and maybe even the coming one. Target levels are the Green Fib levels which are a projection of wave A1 from wave B2. A reversal at the 100% projection would be normal...

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Amazon - This one seems like a great short opportunity because we can count 5 waves up and wave 5 itself seems to have finished as an Ending Diagonal with a small throw-over. This usually signals, at least temporary, a trend change down to the marked support zone first. If price drops and goes below the dotted trend line and the 2500 level, the conviction for...

ElliottWaveBelgium Updated 

Nasdaq - Here's an interesting analysis. When looking at the Index (1) and the CFD (2), we can make the case for an Expanding Diagonal for the first one and a Contracting Diagonal for the other. When making measures based on points and if we really want to follow all the rules for this Diagonal(s) to be counted as valid, price MUST GO above 9549.8 BUT MUST...

ElliottWaveBelgium Updated 

Reasons to short this: - We have a Zigzag that could have ended at 2880 and we can count 5 up for wave C. - From the potential top we got quite an impulsive move down that we can label as i/a, followed by a potential ii/b up that reacted at the 78.6% retracement level. - We have a potential Head and Shoulder pattern forming with the neck line at ~2725. - We...

ElliottWaveBelgium Updated 

Combo correction with perfect hit of the ideal Fib ratios. The small divergence also indicates the 5 waves down for orange C are complete. Longs now are recommended especially seen the very small risk we have. For a more conservative entry you can look to buy once the middle channel line is broken and price goes above wave (iv).

ElliottWaveBelgium

We are in this complexe wave 4 correction which is freaking everyone out and that's good, that is it's purpose. Right now we're seeing price retesting the 200MA, if they can hold, we should see one more leg lower (refer to my previous posts). First support should then be around the 1950-1850 zone. If we don't get a new low, expect price to continue sideways...

ElliottWaveBelgium Updated 

We should be in the fourth wave of this 5 wave decline. On the 15min TF we can count 5 waves down and are currently in this 3 waves correction which ideally should hold around the 0.60 zone. A drop below wave a high of 5935, would increase the odds in our favor. Invalidation is at 6074 but if price goes above the 78.6% retracement level, chances are high the...

ElliottWaveBelgium

If this count is correct, we should see price go down one more time for the fifth wave of this bearish impulse wave. We could see resistance around current levels if not slightly higher around 2620 were we find the 100EMA. One more reason to like this count is the bearish divergence on RSI and MACD. Beware, the count gets negated if we go above 2859 !

ElliottWaveBelgium Updated 

Looks like wave ((iv)) found support at the expected zone marked by the 100, 200 EMAs and the 38.2 Fib level. So the chance for a continuation higher are increasing. Buy now with a stop at 137.1 is not a bad idea as R/R is pretty good. ^Previous post :

ElliottWaveBelgium Updated 

We have a nice opportunity here with a tight stop and good upside potential. A retest of 136.35 should not be discarded. You can use 136.0 or 136.2 as potential stop.