JWagnerFXTrader

JWagnerFXTrader Apr 7

Executive Summary The S&P 500’s Elliott Wave structure suggests the current downtrend is incomplete, with a high-probability target near the 4,300 level based on Fibonacci retracement levels. Global stock markets remain under pressure amid ongoing tariff uncertainty, and Elliott Wave patterns across various indices continue to point to more downside. Current...

JWagnerFXTrader Feb 20

Copper’s Elliott wave price structure suggests a completed contracting symmetrical triangle (ABCDE) correction, followed by the start of a five-wave impulse. The chart shows: Primary Degree Count: The rally from the $4.00 low (Wave E) marks the start of a five-wave impulse pattern. Intermediate Degree Count: Wave (i) of ((iii)) topped at $4.8346. Wave...

JWagnerFXTrader Feb 11

Executive Summary Gold’s Elliott wave pattern appears incomplete to the upside. A decline to $2760-$2830 is considered ‘normal’ correction within an uptrend. Lack of Daily RSI divergence suggests new additional highs eventually. CURRENT ELLIOTT WAVE ANALYSIS Gold continues to punch new all time highs this new year. The current Elliott wave count...

JWagnerFXTrader Feb 4

Executive Summary: EUR/USD weekend gap down has been fully retraced The Elliott wave trend has shifted from down to up Initial upside targets include 1.08 & 1.12 EUR/USD Gaps Down on Trump Tariff Announcement Over the weekend, announcements of tariffs in place by President Trump caused EUR/USD to gap lower on broad based USD strength. It was...

JWagnerFXTrader Jan 24

EURUSD has moved high enough to consider a major low in place. Wave C of (2) is an ending diagonal which means a swift rally may be looming nearby. Consider the Jan 13 low of 1.0177 as the end of wave (2)/(B) and a wave (3)/(C) rally has begun. This rally has upside targets at: 1.11-1.12 1.18 1.29 A print below 1.0258 is unexpected. Therefore, if EURUSD...

JWagnerFXTrader Nov 6, 2023

Russell 2000 (RUT) is an index of 2000 stocks. It can be seen as a barometer on the health of the US economy as mid-size and smaller companies are included in the index. RUT has been declining in an impulse wave. The decline was not deep enough to count a completed wave from the all-time high. Today, the price is rejecting the underside of the trend line that...

JWagnerFXTrader Oct 26, 2023

SP:SPX has aggressively sold off lately but appears only to be in wave iii of (iii). This implies more downside to come and rallies would be temporary. SPX likely finds some relief after reaching $3500. The trend appears firmly planted to the downside.

JWagnerFXTrader Oct 25, 2023

TSLA has a really nice downtrend developing that is adhering to the Elliott Wave patterns. This week's low reached the 1.618 extension of the previous down move. This week's low might be the end of a 3rd wave (or the end of a C wave as an alternate). I'm leaning towards the 3rd wave ending, followed but a sideways triangle as a 4th wave. Then, the 5th wave lower...

JWagnerFXTrader Oct 24, 2023

The rally from $1824 appears to be an Elliott Wave impulse pattern. As a result, a decline back to $1936 or even $1892 would be considered 'normal' under Elliott Wave Theory. The decline likely hold below the recent high of $2009, but it doesn't have to. If Gold does rally above $2009, then we'll review the wave pattern to discern what adjustments are...

JWagnerFXTrader Oct 13, 2023

I see a lot of people getting excited about bullish trends emerging within crypto. Yes, I would love to see crypto move higher...but hope and reality are often separate. When I analyzed the price trends for ETH, a significant development occurred this week. Price broke below the blue trend line that has been in force since June 2022. The break suggests the...

JWagnerFXTrader Aug 21, 2023

Trend lines are a powerful tool that represent areas where buyers and sellers tend to change their behaviors. On Silver, we can draw a support trend line that is upward-sloping and has held up prices for several months. Silver has reached this support level and is bouncing accordingly. Any traders positioning long will want to place a stop loss below the...

JWagnerFXTrader Updated  Aug 3, 2023

Gold has reached a low of nearly $1900 today. This is an important low as two different Elliott Wave patterns we are following suggest a strong rally is about to develop. 1. B-wave triangle of a larger zigzag First, today's low may be wave (b) of a triangle pattern (black labels). Therefore, wave (c) will be a rally that carries up to about $1975. After some...

JWagnerFXTrader Aug 3, 2023

Back on June 29, we highlighted how Gold was poised to rally to $1975 and possibly $2000. Earlier this week, Gold reached $2010 and is now poised to dump below $1900. It appears this week's high was wave ((x)) of a double zigzag. That means wave ((y)) will unfold to the downside reaching $1850-$1880 and possibly $1750-$1780. Though we are halfway through this...

JWagnerFXTrader Aug 2, 2023

USDJPY is nearing a very important high and is likely to decline thousands of pips over the coming months. Back in October 2022, USDJPY reached a pinnacle turning point. In October, USDJPY declined in an impulse wave suggesting the larger trend had turned lower. The rally since Q1 2023 is a double zigzag, a corrective wave further signaling the larger trend is...

JWagnerFXTrader Updated  Jul 13, 2023

The minimum waves are in place for the correction on $NZDUSD. This implies Kiwi is at the beginning stages of a multi-hundred pip rally. The corrective dip met the lower end of the price channel and may be ready to take off higher. Targets to the upside include .6382 & .6550. The corrective dip was a little shallow just pushing beyond the 38.2% retracement...

JWagnerFXTrader Jun 22, 2023

Bitcoin has been respecting these horizontal support and resistance levels. A couple of things to note. 1. The horizontal levels are equidistant...meaning the percentage distance between each level is the same. 2. At $30k, this is a strong level that goes back to 2021 when crypto first started to collapse. This would be an important level to take and hold. ...

JWagnerFXTrader Jun 20, 2023

There appears to be a diagonal pattern that completed at the recent low in bitcoin. There are 2 ways to count this. Leading Diagonal: Pictured above is a leading diagonal. This implies a corrective rally. Corrective waves appear in three-wave structures. It appears the first wave is complete. Expect some softening back to $26,250 and possibly as low as...

JWagnerFXTrader Jun 8, 2023

If AUDUSD dribbles a little higher, then reverses before reaching .6780, that would make a strong case for a completed bullish impulse wave with an extended wave 1. Then, after a brief setback that carries back to the price territory of the previous 2nd wave, another strong bullish run would ensue. This pattern is very specific and suggests AUDUSD would need to...