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Elliottwaveretracement

Elliott Wave Analysis: Impulse Move Suggests More Downside in USShort term Elliott Wave view in USDCAD shows that the decline from 12/31/2018 high (1.3669) is unfolding as a 5 waves impulse Elliott Wave structure. Down from 1.3669, Wave 1 ended at 1.3563, wave 2 ended at 1.3662, wave 3 ended at 1.3263, and wave 4 ended at 1.3323. We can see a momentum divergence with momentum showing a higher low while price showing a lower low. This suggests that wave 5 is near complete and we can soon see a 3 waves rally to correct the decline from 12/31/2018 high. To get an estimate on how far the bounce can go, it should ideally end around 50 – 61.8% fibonacci retracement of the decline from 1.3669. This however is more of a guideline and not a rule. The actual rally can be deeper or shallower than the 50 – 61.8% retracement guide. The most important level remains to be 1.3669. As the move lower from 1.3669 is impulsive, the bounce should fail below 1.3669 and give us at least another 5 waves down to end a zigzag Elliott Wave structure at minimum. The medium term outlook therefore favors further downside although short term we may see a bounce soon.
by Elliottwave-Forecast
1
Nasdaq update smaller time frame 4 wave completeThese are my two primary count updates for the Nasdaq 5D chart. I believe we are still inside the C or 3 wave in the first part of the correction. Which one doesnt really matter though as either way its a good idea to take some short profit between two targets for a reload. Likely there will be some sort of fundamental news to support a relief rally especially if we make a nice scary move lower, wouldnt be surprised to see a trade deal done after that. You can see the algo target from the .5 retrace we just made lines up nicely with the .618 retrace from the Feb lows, also the .382 from the 2009 lows. Seems like a reasonable spot to reset with a nice ABC, and prepare for the biggest move yet to come, and in my opinion the last chance to position. Good luck out there.
TVC:NDQShort
by jlantrip
3
Elliott Wave View: EURAUD Bullish Sequence Favors More UpsideElliott Wave view in EURAUD shows that the decline to 1.5337 low ended wave b. Rally from there unfolded as a 5 waves impulsive Elliott Wave structure. Up from 1.5337 low, Wave (1) ended at 1.5886, wave (2) ended at 1.566, wave (3) ended at 1.6453, wave (4) ended at 1.6184, and wave (5) ended at 1.6794. The 5 waves move from 1.5337 low ended wave ((1)) of a higher degree. Pair is currently in wave ((2)) pullback to correct the rally from 12.3.2018 low (1.5337). The correction is expected to unfold in 3, 7, or 11 swing and potential area is 1.568 – 1.6069 (50 – 76.4% Fibonacci Retracement). While the dips stay above 1.5337, pair should then resume higher again. The move to 1.5337 also broke the previous high at 10.11.2018 (1.6357), therefore creating a bullish sequence from 2.22.2017 low favoring further upside.
Long
by Elliottwave-Forecast
2
Elliott Wave PrincipleCSCO:We can clearly see 5 waves up so now we have to see definitely a correction ABC! We know for sure that we are in a bear market from now on the question is how long that will last we may even retrace all 5 waves at some point of the trend depends how the market moves.I'm Trying to create an youtube channel! I`m working only with Elliott Wave so if you want you see my prediction back in October that came true in December can follow me there --> www.youtube.com
NASDAQ:CSCOShort
by iliyanptown
Oil: Impulsive Elliott Wave Structure In PlayElliott Wave outlook in Oil (CL_F) suggests that the move lower from 10/3 high ($76.9) remains in progress as a 5 waves impulsive Elliott Wave structure. Down from $76.9, black wave ((1)) ended at $65.74, black wave ((2)) ended at $67.95, and black wave ((3)) remains in play. Internal of black wave ((3)) also unfolded as 5 waves impulsive Elliott Wave structure of lesser degree where blue wave (4) of ((3)) ended at $54.55. Oil is currently in the final blue wave (5) of ((3)) move lower which should also complete black wave ((3)). Internal of blue wave (5) subdivides as another impulse Elliott Wave structure of lesser degree (red degree). Red wave 1 of (5) ended at $50.08, red wave 2 of (5) ended at $54.26, red wave 3 of (5) ended at $42.36, and red wave 4 of (5) is proposed complete at $47. Near term, while Oil stays below $47, but more importantly below $54.26, expect for more downside in Oil.
NYMEX:CL1!Short
by Elliottwave-Forecast
EURJPY Elliott Wave Analysis: Calling For More WeaknessHello Traders, EURJPY ended the cycle from 09/25 peak at 10/26 low (126.652) in red wave W. Above from there it ended red wave X bounce at 129.2616 peak as a tringle structure. From there it already broke to new lows confirming that the next extension lower has started. Near-term from 12/13 peak (129.2616) it ended that cycle at 12/25 low (125.329) in black wave ((a)). It is the first leg lower as a potential ZigZag structure (5-3-5). The internals of that move unfolded in a 5 waves move, where it ended blue wave (i) at 127.5949, blue wave (ii) bounce at 128.3948 peak. Below from there it ended blue wave (iii) at 126.05 low. Above from there blue wave (iv) bounce ended at 126.7768. And below from there it ended blue wave (v) of black wave ((a)) at 125.329 low. Above from 125.329 low the pair is correcting the cycle from 12/13 peak in the sequences of 3-7 or 11 swings in black wave ((b)) before more downside should be seen. As long as the pivot at 129.2616 stays intact EURJPY should ideally extend lower again.
Short
by Elliottwave-Forecast
Can Aggressive Elliott Wave View In Nikkei Will Play Out?Nikkei short-term Elliott wave view suggests that the cycle from 10/01/2018 peak is showing 5 swings bearish sequence. This favor more downside to 19073-16773 100%-123.6% Fibonacci extension area to be reached in 7 swings before support for bigger 3 wave bounce is seen at least. The decline from 10/01 peak is showing overlapping price action thus suggests that decline is unfolding in a corrective sequence i.e could be unfolding as double three structure. Currently, the decline to 21075 low blue wave (W) lower. Above from there, a bounce in blue wave (X) took place as a Flat correction where red wave A ended at 21735 high. Wave B ended at 20950 low and red wave C ended at 21923 high which also completed blue wave (X). Down from there, blue wave (Y) can be completed at 19278 low. Above from there the index is expected to do a bounce in 3, 7 or 11 swings within blue (X)(X) of a possible triple correction lower. We expect short-term sellers to appear in 3, 7 or 11 swings on a bounce in blue wave (X)(X).
NShort
by Elliottwave-Forecast
Elliott Wave View: DAX Looking for Further DownsideDAX continues to make a new low and this week broke below 11/20 low (11009) suggesting that the move lower remains in progress. Near term Elliott Wave outlook calls for the decline to 11009.25 on 11/20 as blue wave (3). From there, rally to 11566.97 ended blue wave (4) as a zigzag Elliott Wave structure. Red wave A of (4) ended at 11403.72, red wave B of (4) ended at 11208.60 and red wave C of (4) ended at 11566.97. Decline from there is unfolding as an impulse Elliott Wave structure and a marginal low still can happen before ending the 5 waves down. This move lower also ended blue wave (5) and black wave ((3)) of a larger degree. Afterwards, expect black wave ((4)) rally in 3, 7, or 11 swing before the decline resumes again. We don’t like buying the proposed rally as the right side still remains lower.
TVC:DEU40Short
by Elliottwave-Forecast
Elliott Wave View Supporting Further Strength in USDCADUSDCAD has broken above 11/29/2018 high (1.336) as well as above 6/27/2018 high (1.3386) creating an incomplete bullish sequence. Short term Elliott Wave view suggests the rally to 1.336 on 11/29 ended blue wave (W) and the pullback to 1.3157 ended blue wave (X). Internal of blue wave (X) unfolded as a zigzag Elliott Wave structure where red wave A ended at 1.324. Red wave B bounce ended at 1.333, and red wave C of (X) ended at 1.3157 low. Up from 1.3157, pair has made a new high above blue wave (W) at 1.3157, suggesting the next leg higher has started. The rally is unfolding as a 5 waves impulse Elliott Wave structure where black wave ((i)) ended at 1.322 and black wave ((ii)) ended at 1.316, wave ((iii)) at 1.3445 and wave ((iv)) pullback at 1.3378. WE Expect pair to do 1 more leg higher to end the 5 waves impulse and complete red wave A of larger degree. Pair should then pullback in red wave B to correct cycle from 12/3/2018 low in 3-7-11 swing before the rally resumes.
Long
by Elliottwave-Forecast
2
Elliott Wave Analysis: Further Weakness Expected in USDJPYHello Traders, Short term Elliott Wave view in USDJPY suggests that cycle from 11/12 peak (114.21) remains in progress as a double three Elliott Wave structure. Down from 114.21, black wave ((w)) ended at 112.27 and black wave ((x)) bounce ended at 114.03. Internal of black wave ((x)) unfolded as a zigzag Elliott Wave structure where blue wave (a) ended at 113.23, blue wave (b) ended at 112.63, and blue wave (c) of ((x)) ended at 114.03. Black wave ((y)) lower is currently in progress and the internal is unfolding as a double three Elliott Wave structure in lesser degree. Down from 114.03, blue wave (w) ended at 112.54 as a zigzag Elliott Wave structure, and blue wave (x) bounce is correcting cycle from 11/29 high before the decline resumes. We expect sellers to appear after blue wave (x) bounce is complete in 3, 7, or 11 swing as far as pivot at 114.03 high stays intact.
by Elliottwave-Forecast
Elliott Wave Analysis: Suggest Supported NZDUSDNZDUSD short-term Elliott wave analysis suggests that a decline to 0.6751 low ended blue wave (4) pullback. The internals of that pullback unfolded as double three structure where red wave W ended at 0.6780 low. Up from there, a 3 wave bounce to 0.6852 high ended red wave X. Then finally a decline to 0.6751 low ended red wave Y to completed blue wave (4). Up from 0.6751 low, the pair has made a new high above 11/16/2018 peak favoring a next leg higher. Thus suggests supported to higher NZDUSD looking for more upside. Above from 0.6751 low, the initial rally to 0.6809 high ended black wave ((i)). black wave ((ii)) ended at 0.6770 low, black wave ((iii)) ended at 0.6879 & black wave ((iv)) ended at 0.6851 low. Black wave ((v)) ended at 0.6885 high which also completed red wave 1 as an impulse. Down from there, red wave 2 pullback completed at 0.6849. Above from that low it made again a new high suggesting that red wave 3 is in progress. We don’t like selling it and expect buyers to appear in 3, 7 or 11 swings against 0.68337 low.
Long
by Elliottwave-Forecast
2