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Dow Futures Elliott Wave view 8.18.2017

Short term Dow Futures (YM_F) Elliott wave view suggest that the rally to 8/08 peak 22177 ended the “Cycle” from Feb 11, 2016 low. The decline from there is unfolding as animpulse suggesting the index could be following a Elliott Wave Zigzag pattern in larger degree correction. From there Intermediate wave (1) ended at 21789 in 5 waves at 21789 low and bounce from there ended in 3 swings at 22070 peak as another zigzag patternwithin intermediate wave (2).
The decline from there is unfolding as an impulse Elliott wave structure within intermediate wave (3). Below from 21789 peak, Minor wave 1 ended at 21993, Minor wave 2 ended at 22034 peak. Below from there Minute wave ((i)) ended at 21885, Minute wave ((ii)) ended at 21950, Minute wave ((iii)) ended at 21705 low and above from there doing a Minute wave ((iv)) bounce. Which is expected to unfold in 3 swings and shouldn’t pass the 0.382% fibonacci retracement area 21798 of Minute wave ((iii)) for the idea to remain alive for further downside in Minute wave ((v)) of 3 lower initially. We don’t like selling the pullback and expect further downside extension as far as pivot from 22070 peak & more importantly from 22177 peak remains intact to continue correction lower.
Dow Futures 1 Hour Elliott Wave Chart

According to Elliott wave theory, the zigzag is a 3-wave structure that has an internal subdivision of (5-3-5) oscillation sequence. The internal oscillations are labeled A, B, C where A = 5 waves, B = 3 waves and C = 5 waves. This means that A and C can be impulsive or diagonal waves. The A and C waves must meet all the conditions of wave structure 5, such as: having an RSI divergence between wave subdivisions, ideal Fibonacci extensions, ideal retracts, etc. In the graph below, we can see how the Zig Zag structure of Elliott Wave looks. 5 waves down in A, 3 waves in B and 5 waves down in C.

USDJPY Elliott Wave View: Ending bounce

Short term USDJPY Elliott wave view suggest that the decline from 7/11 peak is unfolding as a double three Elliott wave structure. Decline to 108.71 low ended Minor wave W and correction of that cycle ended in a Minor wave X at 110.95 peak. Subdivision of Minor wave Y is unfolding as a Zigzag structure. Minute wave ((w)) of ((Y) ended at 108.59 low and Minute wave ((x)) of (Y) bounce is in progress as another Zigzag structure.

Up from 108.59 wave ((w)) low, Minutte wave (a) of ((x)) ended at 109.6 peak and Minutte wave (b) of ((x)) pullback ended at 108.609. Above from there, Minutte wave (c) of ((x)) is in progress towards 109.67-109.92 or 100%-123.6% Fibonacci extension area of (a)-(b). Afterwards, pair should resume the decline or pullback in 3 swings at least. We don’t advise buying the pair into the bounce. Expect sellers to appear after Minute wave ((x)) bounce is complete in 3, 7 or 11 swings for further downside, provided pivot at 110.95 peak stays intact.

1 Hour USDJPY Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

HPQ HP Inc Earnings Report and Price Analysis for 08/23/17

According to Nasdaq.com, NYSE HPQ HP Inc. is expected to report earnings on 08/23/2017 after market close. The report will be for the fiscal Quarter ending Jul 2017. According to Zacks Investment Research, based on 6 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.42. The reported EPS for the same quarter last year was $0.48. Last quarter, the company posted a positive earnings surprise of 2.6%. Notably, the stock surpassed the Zacks Consensus Estimate thrice and came in line once, over the trailing four quarters. It has an average positive earnings surprise of 3%.
Few Words about NYSE:HPQ. HP Inc. (also known as Hewlett Packard) is an American technology company leading as a global provider in computing and imaging solutions and services for business and home. The company is focused on capitalizing on the opportunities of the Internet and the proliferation of electronic services. Its major businesses include Imaging and Printing Systems, Computing Systems and Information Technology Services. HPQ was formed on November 1, 2015 out of the personal computer and printer divisions of the original Hewlett-Packard Company, with its enterprise products and services businesses becoming Hewlett Packard Enterprise. The split was structured so that Hewlett-Packard changed its name to HP Inc. and spun off Hewlett Packard Enterprise as a new publicly traded company. HP Inc. retains Hewlett-Packard’s pre-2015 stock price history and its former stock ticker symbol, HPQ, while Hewlett Packard Enterprise trades under its own symbol, HPE.
Regarding the coming earnings, Zacks.com model does not support that HP will likely beat the Zacks Consensus Estimate in its upcoming release due to that fact that Earnings ESP, which represents the difference between the Most Accurate estimate and the Zacks Consensus Estimate, is currently pegged at 0.00%. This is because the Most Accurate estimate of 42 cents comes in line with the Zacks Consensus Estimate. One more reason for the above assumption is that HP carries a Zacks Rank #2. Though this increases the predictive power of ESP, the company’s ESP of 0.00% makes surprise prediction difficult.
Despite that, many analyst hold Bullish HPQ due to the following reasons:
HP is the leader in Printing Company World Wide especially after September 12, 2016 announcement that Hewlett Packard NYSE:HPQ set to buy Samsung Electronics’ OTC:SSNLF printer business for a cash payment of $1.05 billion. The acquisition is expected to close in 2017 and is expected to be accretive in the first full year following closing. After closing, Samsung has agreed to make a $100 million to $300 million equity investment in HP through open market purchases.
Numerous Studies surfing the internet indicating by various Price Valuation Models, HPQ Stock price still remains relatively undervalued.
When it comes to our view relating to NYSE:HPQ, in the weekly time frame we remain overall Bullish the Stock. At this stage we would like to see a break above the multi year descending trend line around the 20’s and from there expect price to extend to the 22’s – 25’s area to reach the equal legs – 1.236% extension from the 11/19/2012 cycle’s lows at 5.16 before price could see sellers and correct lower. Note, HPQ can see a continuation in the pull back towards the supporting trendline around the level of 17.80’s before extend higher or see at least a 3 wave bounce against the highs at 19.60’s.
HPQ HP Inc Weekly

In the case of new highs above 24.85’s (wave b red) then the Stock will mark a incomplete bullish sequence in the weekly time frame from 07/22/2002 and from there recommend the buying the dips in 3 7 or 11 swings.
If you have found our analysis interesting and/or if you would like to fine tune the above Trading opportunity in the lower time frames, we are almost certain you will enjoy our new plan covering 13 Stocks & 13 ETFs, providing Daily Technical Analysis in the Weekly, Daily, 4 Hours and Hourly including Trading opportunities, Live Sessions and many more. If you would like to learn more you can always join us.. We provide a 14 days FREE to try our services and learn how to to trade forex, indices, commodities and stocks using our blue boxes and the 3, 7 or 11 swings sequence, just click on this link. You will get access to our 78 instruments updated in 4 different time frames, Live Trading Room and 3 Live Analysis Session done by our Expert Analysts every day, 24-hour chat room support and much more.

USDJPY Elliott Wave View: Turning Lower

Short term USDJPY Elliott wave view suggest that the decline from 7/11 peak is unfolding as a double three Elliott wave structure. Decline to 108.71 low ended Minor wave W and Minor wave X bounce ended at 110.95 peak. Subdivision of Minor wave Y is unfolding as a Zigzag structure. Minute wave ((w)) of ((Y) ended at 108.59 low and Minute wave ((x)) of (Y) bounce is proposed complete at 109.82.
However, a break below 108.59 is needed to add conviction to this view. Until then a double correction in Minutte wave ((x)) can’t be ruled out. Near term, as far as pivot from 110.95 peak stays intact, expect pair to extend lower in Minute wave ((y)) or pullback in 3 waves at least. We don’t advise buying the pair and expect more downside in the pair towards 107.46-106.92 area next before a bounce is seen.
USDJPY 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Double Three is the most important pattern in Elliott wave’s new theory and probably the most common pattern in the market these days. Double three is also known as a 7-swing structure. It is a very reliable pattern that gives traders a good opportunity to trade with a well-defined level of risk and target areas. The image below shows what Elliott Wave Double Three looks like. It has labels (W), (X), (Y) and an internal structure of 3-3-3. This means that all 3 legs has corrective sequences. Each (W) and (Y) is formed by 3 wave oscillations and has a structure of A, B, C or W, X, Y of smaller degrees.

Elliott Wave Flat explained through GBPAUD example

Hello fellow traders. In this technical blog we’re going to see what Elliott Wave Flat structure looks like with real market example. We’re going to take a quick look at the past Elliott Wave chart of GBPAUD published in members area of www.elliottwave-forecast.com and explain the theory of Flat structure.
Elliott Wave Flat
Elliott Wave Flat is a 3 waves corrective pattern which could often be seen in the market nowadays. Inner subdivision is labeled as A,B,C , with inner 3,3,5 structure. That means waves A and B have forms of corrective structures such as zigzag, flat, double three or triple three. Third wave C is always a 5 waves structure, either as motive impulse or ending diagonal pattern. In Regular Flats wave B is usually a deep pull back but it needs to complete above the starting point of wave A, and wave C ends above the ending point of wave A . Wave C completes usually close to 1.236 Fibonacci extension of A related to B, but sometimes it could go up to 1.618 fibs ext. At the graphic below, we can see Regular Flat structure

Now let’s take a look what Elliott Wave Flat looks like with real market example.
GBPAUD Elliott Wave 1 Hour Chart 08.03.2017
In the chart below we can see that X red recovery is unfolding as a 3 waves corrective structure, labeled as ((a)), ((b)), ((c)). We can see both waves ((a)) and ((b)) have corrective structures. Wave ((b)) was a deep correction, while wave ((c)) is extended and unfolding as 5 waves structure. We’re currently in wave (v) blue of ((c)) black that has already exceeded 1.236 fibonacci extension:1.6630. We expect X red correction to complete any moment as Flat pattern and turns lower toward new lows.

As our members know we were pointing out that GBPAUD has a bearish swings sequence from 05/09 peak. Consequently , we advised members to avoid buying it and keep selling the rallies in 3,7,11 swings. We sold the pair at 1.666 with initial target of 1.609. Trade Setup wave presented to members in 08/02 Live Trading Room.
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USDJPY Elliott Wave view: Resuming lower

Short term USDJPY Elliott wave view suggest the decline from 7/11 peak is unfolding as a double three Elliott wave structure. Decline to 108.71 low ended Minor wave W and Minor wave X bounce ended at 110.95 peak. Subdivision of Minor wave Y is unfolding as a Zigzag structure. Minute wave ((w)) of ((Y) ended at 108.59 low and Minute wave ((x)) of (Y) bounce ended at 109.82. The pair has reacted lower from the blue box, but the move lower will get validation only with a break below 108.59. Until then a double correction in Minutte wave ((x)) still can happen.

Down from 108.59, Sub Minutte wave a of (y) ended at 108.82 low and the pair is in Sub Minutte wave b bounce to correct the decline from 109.82 peak. Near term, while bounces fail below 109.82 peak and more importantly below 110.95, expect pair to extend lower. Initial target to the downside is 108.35-108 area to complete Minutte wave (w). Afterwards, pair should bounce in Minutte wave (x) before the decline resumes. We don’t advise buying the pair and expect more downside in the pair as far as bounces fail below 110.95 peak.

USDJPY 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

USDJPY Elliott Wave view: Double Correction


Short term USDJPY Elliott wave view suggests the decline from 7/11 peak is unfolding as a double three Elliott wave structure. Decline to 108.71 low ended Minor wave W and Minor wave X bounce ended at 110.95 peak. Subdivision of Minor wave Y is unfolding as another double three structure of a lesser degree. Minute wave ((w)) of ((Y) ended at 108.59 low and revised view suggests Minute wave ((x)) of (Y) bounce remains in progress to correct cycle from 8/16 peak towards 110.05 – 110.35 before pair turns lower. We don’t like buying the proposed bounce, and as far as pivot at 110.95 remains intact, expect sellers to appear at 110.05 – 110.35 for a new low or at least pullback in 3 waves.

USDJPY 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

SPX Elliott Wave View: At Weekly Inflection Area

SPX S&P 500 Long Term Elliott Wave view suggests that the Index has reached the minimum target at 2234.35 to end a big cycle from an all time low. If we assume the Index starts from all-time low of 0, then the rally can be labelled as a zigzag Elliott Wave structure. The first leg wave A ended in March 2000 at 1553.11 during the dot com bubble. From 2000 peak, the Index corrected in 3 waves and reached 50% retracement at 766.67 in the year 2002. SPX then started a new leg higher which broke above 2000 peak in October 2007. Technically, with the break above 2000 peak, S&P formed a bullish sequence (a higher high) from all-time low and the natural path is to extend higher, especially considering that it has corrected 50% into 2002.

As SPX formed a new peak in the year 2007, the Market did an unexpected detour. Instead of the natural path of extending higher, the Index declined strongly in 5 waves into the year 2009 during the financial crisis due to subprime mortgage default and collapse of Lehman Brothers. This collapse is even captured in the movie titled "The Big Short" when several traders made money by correctly betting on the ensuing crash. In reality however, these traders got lucky as they were trading against a natural cycle, which happens only in a wave C of a FLAT structure.

The decline broke below 2002 low, sentiment was very negative at that time and no one was talking about buying the Index. What people don't realize is that the Market is a reflection of human progress and thus it should never go back to zero. Correction is natural and allows the market to reset. The Market ended a 3-3-5 Expanded Flat Elliott Wave structure in 2009 and then began the Big Long. Interestingly, nobody is filming or talking about the Big Long, and nowadays most people still talk about the impending big crash almost every single year even when the market keeps rallying. Almost nobody is talking about how great the move higher is as people don't understand the primary trend in the human nature is up.

Right now, S&P has reached an interesting weekly inflection area in which we can label the entire move from all time 0 as a zigzag Elliott Wave Structure. Wave A started from all-time 0 to 2000 high. The 3 waves correction from 2000 high to 2009 low is labelled as wave B and take the form of Expanded Flat. Then from 2009 low to present day, it is labelled as wave C. The minimum target wave C = A at 2234.35 has been reached, but that doesn't mean the Indices will crash from here. We acknowledge that the Index could indeed have a decent pullback from this area, but keep in mind that it's possible for the Index to extend higher within the blue box at 2234.35 (100% of A-B) - 3196.41 (161.8% of A-B). If the Index reaches 3196.41, then the whole move from all-time 0 can be labelled instead as 1-2-3. If reaching 3196.4, the third wave in this case is extended, which is the typical characteristic of wave 3 in an impulse. Thus the Big Long at this point in time can even become an extra Big Long, until it gets denied.

SPX S&P 500 Long Term Elliott Wave Chart

CL_F Oil Elliott Wave View: Pullback in progress

Oil Short Term Elliott Wave suggests that the decline from 8/1 peak is unfolding as a double three Elliott Wave Structure where Minute wave ((w)) ended at 46.46 and Minute wave ((x)) ended at 48.76. Oil has since made a new low below Minute wave ((w)) at 46.46 suggesting the next leg lower has started. Wave ((y)) is in progress and also subdivided as a double three where Minutte wave (w) ended at 46.15 and Minutte wave (x) is proposed complete at 46.96.

Near term, while bounces stay below Minute wave ((x)) at 48.76, Oil has scope to extend lower towards 43.92 – 44.85. This is an inflection area where Minute wave ((w)) = Minute wave ((y)) and buyers can appear in this area for at least a 3 waves bounce. We don’t like selling Oil and expect buyers to appear at 43.92 – 44.85 area (if reached) for at least a 3 waves bounce, provided that pivot at 6/21 low (42.07) remains intact.

Oil 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

Royal Gold Bullish Structure Calling Higher

Royal Gold (NASDAQ: RGLD) is one of the world’s leading precious metals royalty & stream companies, it’s engaged in the acquisition and management of gold, silver, copper, lead and zinc. The Company owns interests on 194 properties in over 20 countries, including interests on 39 producing mines and 21 development stage projects.
During last week, Royal Gold announced fourth quarter dividend of US$0.24 per share of common stock payable on October 20, 2017. It’s stock price closed on Friday at new 5 years high with a total gain of +37% YTD and +250% from last year low.
The recent move higher during the month of August was significantly important for the stocks because the price managed to break above the 2016 peak and that opened a new extension to the upside. So let’s take a look at RGLD technical chart.
Royal Gold Elliott Wave Technical Analysis
RGLD rallied from 01/20/2016 low before topping at $87.74 on 08/02/2016. That peak held for 1 year in which the stock corrected for 4 months before resuming the move higher and finally managing to break it on 08/10/2017. Royal Gold is now showing an incomplete 5 swings bullish sequence from 2016 low and the stock is expected to continue to the upside toward the minimum target at equal legs area $123 – $138 with a possible extension toward $162.
RGLD Weekly Chart

Using Elliott Wave theory, we can label the move from 2016 low as a start of a 5 waves diagonal so that could be forming wave (III) or only the first leg of it because the 3rd wave usually extend toward the 1.618 fib ext level which will come around $187.
Royal Gold still needs to break above 2012 peak to confirm the bullish move higher and open another bullish sequence. So either way, the move will extend higher as 5 waves or will end up as 3 waves Zigzag ABC from 1991 low. The equal legs from there comes at $125 – $149 which is around the same extreme area from 2016 suggesting that the stock could see a pullback from that area before deciding the next path.
RGLD Monthly Chart

Recap
Royal Gold technical picture is strongly bullish after the recent break higher and that’s why buyers can be seen now during pullbacks in 3 , 7 or 11 swings with targets higher above $120 area unless the move higher is part of a flat structure which means it will still do another leg lower against 2016 before rallying again. The stock is getting support from the commodity sector overall and especially of rise in the price of precious metals.
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SPX Elliott Wave View: The Big long (Grand Super cycle).

SPX S&P 500 Long Term Elliott Wave view suggests that the Index has reached the minimum target at 2234.35 to end a big cycle from an all time low. If we assume the Index starts from all-time low of 0, then the rally can be labelled as a zigzag Elliott Wave structure. The first leg wave A ended in March 2000 at 1553.11 during the dot com bubble. From March 2000 peak, the Index corrected in 3 waves and reached 50% retracement at 766.67 in October 2002. SPX then started a new leg higher which broke above March 2000 peak and made a new peak in October 2007. Technically, with the break above March 2000 peak, S&P formed a bullish sequence (a higher high) from all-time low and the natural path was to extend higher, especially considering that it has corrected 50% into October 2002 low.
After forming a new peak in October 2007, the Market did an unexpected detour. Instead of the natural path of extending higher, SPX declined strongly in 5 waves into March 2009 low during the financial crisis caused by subprime mortgage default and collapse of Lehman Brothers. This collapse was filmed in the movie titled “The Big Short” where several traders made money by correctly betting in the ensuing crash. In reality however, these traders got lucky as they were trading against a natural cycle, which in Elliott Wave language happens only in a FLAT structure.
The 2009 decline was impulsive and it broke below October 2002 low. Sentiment was very negative at that time and no one was talking about buying the Index. What people don’t realize is that the Market is a reflection of human progress and thus it will never go back to zero. Correction is natural and allows the market to reset. The Market ended a 3-3-5 Expanded Flat Elliott Wave structure in March 2009 and then began the Big Long. Interestingly, nobody is filming or talking about the Big Long, and nowadays most people still talk about the impending big crash almost every single year even when the market keeps rallying. Almost nobody is talking about how great the move higher is as people don’t understand the primary trend in the human nature is higher.
Right now, S&P has reached an interesting weekly inflection area in which we can label the entire move from all time 0 as a zigzag Elliott Wave Structure. Wave A started from all-time 0 to 2000 high. The 3 waves correction from 2000 high to 2009 low is labelled as wave B and take the form of Expanded Flat. Then from 2009 low to present day, it is labelled as wave C. The minimum target wave C = A at 2234.35 has been reached, but that doesn’t mean the Indices will crash from here. We acknowledge that the Index could indeed have a decent pullback from this area, but keep in mind that it’s possible for the Index in short term to keep extending higher in months/ years ahead within the blue box at 2234.35 (100% of A-B) to 3196.41 (161.8% of A-B).
If the Index manages to extend to 3196.41, then the whole move from all-time 0 can be labelled as 1-2-3 with wave 4 and wave 5 to come, instead of ABC. If SPX manages to reach 3196.4, the third wave in this case is extended, which is the typical characteristic of wave 3 in an impulse. Thus the Big Long at this point in time can even become an extra Big Long, until we get contrary evidence that this is not going to unfold into an impulse from all time low.
SPX S&P 500 Long Term Elliott Wave Chart

Recording of our seminar “Are the Indices Ready for the Biggest Crash of all time”

BBY Best Buy Earnings Report 08/29/17 – Weekly ElliottWave Count

BBY Best Buy Inc. earnings report due to this week, the 29th of August. Before we get into the details few words about the company we are about to analyze.
According to Wikipedia, Best Buy Co. (NYSE: BBY), Inc. is an American multinational consumer electronics corporation headquartered in Richfield, Minnesota, a Minneapolis suburb. Internationally, it also operates in Canada and Mexico. It was formerly operational in China until February 2011 (when the faction was merged with Five Star) and in Europe until 2012. According to Yahoo! Finance, Best Buy is the largest specialty retailer in the U.S. consumer electronics retail industry.
Regarding earning, Best Buy Co., Inc. is expected to report earnings the 29th of August 2017 before market open. The report will be for the fiscal Quarter ending Jul 2017. According to Zacks Investment Research, based on 12 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.63. The reported EPS for the same quarter last year was $0.57.
Overall view, Best Buy (NYSE: BBY) shares are surging this year, a company many investors though was in big trouble because of the threat from Amazon. The stock is up by 55% this year and up by approximately 240% since the company named Hubert Joly as its CEO five years ago.

Main reasons why BBY Best Buy has been surging:

1. The Nintendo Switch console launch
2. Best Buy proved Amazon-proof in contrast with Circuit City and RadioShack

Despite the very encouraging data, it is worth to mention that the BBY stock is well behind AMZN’s performance. Since August 2012, AMZN stock is up by 300% yet if we account the S&P 500 is up by 75% during the same time frame and while the S&P Retail ETF (XRT) has risen only 25%, BBY Best Buy still has an astonishing performance.
Coming back to the Earnings subject, Jefferies raised Best Buy Sales and Earnings estimates on Tuesday for the second quarter, citing strength in the video game, appliance and smartphone categories.
“Based on our field checks and other research, we believe Best Buy should be able to grow domestic SSS [same-store sales] at the high end or better than mgmt.’s plan,” analyst Daniel Binder wrote in a note to clients. “We expect Best Buy to benefit from strength in appliances and connected home, however we also expect robust growth in entertainment from the introduction of two gaming consoles in Q1 and mobile to benefit from a full quarter of Samsung S8/S8+ availability.”
“We believe that Best Buy’s entertainment category saw a second consecutive quarter of robust growth driven by the launch of the Nintendo Switch and the 1TB PlayStation Slim Gold console as the company laps fairly significant comparable store sales declines in this category,” he wrote.
As a result, the analyst raised his July quarter Best Buy U.S. same-store sales growth estimate to 2.5 percent from 2.0 percent. He also increased his earnings-per-share forecast for the same quarter to 66 cents from 59 cents versus the Wall Street consensus of 63 cents.

Our View in ElliottWave-Forecast.com
When it comes to our BBY’s stock price analysis, Best Buy is still a buy in the dip on the weekly time frame while still missing the minimum target of the 70’s level. The 70’s price target is the equal legs of the (w) – (x) swing since the stock first started trading. The rally since 12/2012 as well seems incomplete. Price took the equal legs at the 56’s zone but RSI yet to show divergence, a fact suggesting we are most likely going to see the next level at the 1.236% extension around the 66’s, just 4$ from the equal legs at 70’s mentioned above.

BBY Best Buy Weekly Elliott Wave Count

BBY Best Buy Weekly Elliott Wave Count
At this stage we would like to see price correcting down to the 56’s zone where the supporting trend line since 06/01/16 is holding. From there we expect price to bounce and ideally extend to new highs towards our target or at least create a 3 wave bounce which should provide longs the ability to get Risk Free.

What we do,
If you have found our analysis interesting and/or if you would like to fine tune the above Trading opportunity in the lower time frames, we are almost certain you will enjoy our new plan covering 13 Stocks & 13 ETFs, providing Daily Technical Analysis in the Weekly, Daily, 4 Hours and Hourly including Trading opportunities, Live Sessions and many more. If you would like to learn more you can always join us.. We provide a 14 days FREE to try our services and learn how to to trade forex, indices, commodities and stocks using our blue boxes and the 3, 7 or 11 swings sequence, just click on this link. You will get access to our 78 instruments updated in 4 different time frames, Live Trading Room and 3 Live Analysis Session done by our Expert Analysts every day, 24-hour chat room support and much more.

Gold Elliott Wave View: 5 Waves Up

Gold Short Term Elliott Wave suggests that the rally from 8/15 low is unfolding as a zigzag. The first leg Minor wave A is subdivided as an impulse. Minute wave ((i)) of A ended at 1300.83, Minute wave ((ii)) of A ended at 1274.45, Minute wave ((iii)) of A ended at 1326, and Minute wave ((iv)) of A ended at 1297.52. Minute wave ((v)) of A is currently in progress and also subdivided as an impulse.

Minutte wave (i) of ((v)) ended at 1323.63, Minutte wave (ii) of ((v)) ended at 1316.3, and Minutte wave (iii) of ((v)) ended at 1339.77. Gold is currently in Minutte wave (iv) of ((v)) pullback before another leg higher to complete Minor wave A. Afterwards, Gold should pullback in Minor wave B to correct cycle from 8/15 low before the rally resumes. We don’t like selling Gold and expect buyers to appear once wave B pullback is over in 3, 7, or 11 swing as far as pivot at 8/15 low (1267.21) stays intact.

Gold 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

AUDUSD Elliott Wave View: More Upside

AUDUSD Short Term Elliott Wave view suggests that the rally from 8/15 low is unfolding as a double three Elliott Wave structure. Up from 8/15 low, Minute wave ((w)) ended at 0.79957 and Minute wave ((x)) ended at 0.7868. Minute wave ((y)) is in progress and the subdivision also unfolds as a double three. Minutte wave (w) of ((y)) ended at 0.7995 and Minutte wave (x) of ((y)) ended at 0.793. Near term, while pullbacks stay above 0.793, but more importantly above 0.7868, expect pair to extend higher towards 0.806 – 0.8108. We don’t like selling the pair.

AUDUSD 1 Hour Elliott Wave Chart

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Attached Image (click to enlarge)

AUDUSD Elliott Wave View: Bullish above 0.787

AUDUSD Short Term Elliott Wave view suggests that the rally from 8/15 low is unfolding as a double three Elliott Wave structure. Up from 8/15 low, Minute wave ((w)) ended at 0.79957 and Minute wave ((x)) ended at 0.7868. Minute wave ((y)) is in progress and the subdivision also unfolds as a double three. Minutte wave (w) of ((y)) ended at 0.7995 and Minutte wave (x) of ((y)) ended at 0.793. Near term, while pullbacks stay above 0.793, but more importantly above 0.7868, expect pair to extend higher towards 0.806 – 0.8108. We don’t like selling the pair.

AUDUSD 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

North Korea Nuclear test poses little threat to Indices rally

Geopolitical tensions intensified after North Korea conducted its sixth and most powerful nuclear test on Sunday, detonating what it said was a hydrogen bomb meant for intercontinental ballistic missile. The United States warned it could launch a “massive” military response if it or its allies were threatened. Most of the Stock Markets in the World reacted negatively to the news with stocks from around the World ending the day in the red.

We believe what we saw was some panic selling and not a huge sell off. We at Elliottwave-Forecast.com believe that markets move on the basis of cycles and swing sequences and news just acts as a catalyst rather than driving the markets. We believe North Korea’s nuclear test poses little threat to the rally in Indices as mid-long term cycles are still bullish. We will present long-term view in South Korean Stock Exchange to support our view that any sell off seen due to escalating geo-political tensions is still a buying opportunity.
$KOSPI-KOR denies huge sell off due to North Korea

KOSPI-KOR Index from South Korea is within 7th swing from 1980 low but has not yet reached the ideal target area. Sequence from 2008 low is also incomplete and calls for more upside towards 2891 – 3362 area as far as dips hold above 2011 low. As the sequence from 1980 and 2008 low in KOSPI-KOR is incomplete, any dips remain a buy in 3, 7 or 11 swings as far as pivot at 2011 low remains intact. North Korea’s nuclear test or any military offensive should have a direct impact on South Korea’s stock exchange and as the sequence is bullish, we believe nothing drastic will come out of the current scenario, it can cause a pull back but that should be a buying opportunity looking for a move higher towards 2891 – 3362 area.
$KOSPI-KOR Long-Term Elliott Wave View

$KOSPI-KOR rally from 1980 low could be viewed as a double three Elliott wave structure or it could be viewed to be in wave (III) of an incomplete Leading Diagonal structure. In either case, rally sequence is incomplete and as dips hold above wave ((2)) and more importantly “b” low, expect the Index to resume the rally towards 2893 – 3362 area to reach the extreme from 1980 low. From this area, Index can see a larger pull back to correct the cycle from 1980 low or at least from 2008 low labelled as (x) / (II). We don’t like selling the Index and expect to see buyers appearing after dips in 3, 7 or 11 swings as far as pivot at 2015 and 2011 lows remain intact.

What’s Next Investing Opportunity in Stock Market?

Recap of our free seminar “What’s Next Investing Opportunity in Stock Market?”
Our public seminar was conducted on 9/6/2017, in which we discussed the coming opportunities in the stock market and why we favor investing in stocks related to commodities for the next move to the upside.
We explained how metals like Gold , Silver and Copper are more favorable among commodities because they are leading the move higher. The energy sector is still lagging the bounce but expected to catch up soon because many stocks already ended the short term correction and the agriculture sector is still struggling.


We used different commodity indexes (CRB, GCC, DJCI, GSCI, BCI, DUBS) to point out how the cycle from 2011 and 2014 has ended over the stock market, some of them managed already to break the bearish trend-line in price , others in RSI and others bouncing from extreme equal legs area from 2008 & 2011 peaks.

To be able to trade this expected move in commodity, we switched to different stock covering metals which will allow us to find buying opportunities in the stock market. RGLD , BHP and RIO are the ones leading the move higher, because they created a bullish sequence from 2016 low after managing to make new highs this year and expected to keep extending higher so we favor buying any dips using the corrective Elliott wave structure. The rest (HL, WPM, NEM, CLF, FCX, AA) are also presenting a really good investing opportunity for a long term move to the upside with a small risk and big reward.

Overall our idea is simply to look for a mining stock providing a bullish sequence / structure or any other commodity stock / etf turning bullish then you can look to invest in it or traded in the short term using our trading methods.
If you are interested in further structures and sequences then check out our pack of Educational services and you can also take this opportunity and Get 50% Off any Plan you want to learn how to trade forex, indices, commodities and stocks using our blue boxes and the 3, 7 or 11 swings sequence. You will get access to our 78 instruments updated in 4 different time frames, Live Trading Room and 2 Live Analysis Session done by our Expert Analysts every day, 24-hour chat room support and much more.

GBPUSD Elliott Wave View: More Upside

GBPUSD Short Term Elliott Wave view suggests that the rally from 8/24 low is unfolding as an impulse Elliott Wave structure. Up from 8/24 low (1.2773), Minor wave 1 ended at 1.2979 and Minor wave 2 ended at 1.2851. Minor wave 3 is in progress and the subdivision is unfolding as an impulse Elliott Wave structure. Minute wave ((i)) of 3 ended at 1.2947, Minute wave ((ii)) of 3 ended at 1.2907, Minute wave ((iii)) of 3 ended at 1.3082 and Minute wave ((iv)) of 3 ended at 1.303. Minute wave ((v)) of 3 is expected to end soon within 1.3104 – 1.3182 area. Afterwards, pair should pullback in Minor wave 4 before the rally resumes. We don’t like selling the proposed pullback.

GBPUSD 1 Hour Elliott Wave Chart

DXY Dollar Index Elliott Wave View: Bearish below 93.36

DXY Dollar Index Short Term Elliott Wave view suggests that the decline from 8/16 peak is unfolding as an Ending Diagonal Elliott Wave structure. Down from 8/16 high, Minor wave 1 ended at 91.62 and Minor wave 2 ended at 93.347. Minor wave 3 is unfolding as a double three Elliottwave structure. Minute wave ((w)) of 3 ended at 91.01 and Minute wave ((x)) of 3 is in progress. The internal subdivision of Minute wave ((x)) shows a zigzag Elliottwave structure. Minutte wave (a) of ((x)) ended at 91.62 and Minutte wave (b) of ((x)) ended at 91.41.

The Index has reached an inflection area where Minutte wave (c) = Minutte wave (a) and thus cycle from 9/8 low is mature. Expect Minute wave ((x)) of 3 to end at 92.02 – 92.4. While bounces stay below 93.36, Index should resume lower or at least pullback in 3 waves. We don’t like buying the Dollar Index.

DXY 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)