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GBPCAD selling the rallies

The video below is a capture from the London Live Session group 2 held on August 30th. Daud presented Elliott Wave count of GBPCAD ,explaining our forecast and trading strategy.

GBPCAD trading strategy


Current price structure of GBPCAD suggests the pair is doing wave 2 recovery. It’s labelled as double three structure ((w))((x))(y)) when it has scope to make another short term leg higher toward 1.6329-1.6377 area. Because of bearish swings sequences in higher degrees we advised our members to avoid buying the pair and keep selling the rallies in 3,7,11 swings. Strategy is selling the pair at mentioned 1.6329-1.6377 area, when invalidation level is at 1.6456. Due to bearish structure in higher degrees we expect pair to give us at least short term reaction from the blue box which will allow us to make short positions risk free.

As Daud explained in the video, as soon as the price hits 50 fibonacci from the last low ((x)) we should create a risk free position by either moving stop loss to break-even or by taking a small portion of the position off and putting stop on remaining position above the high.
Let’s take a quick look at the capture below:


Shortly after, GBPCAD made proposed swing up and reached selling zone at 1.6329-1.6377 area. It found sellers there and as a result the pair has made nice decline of approximately 450 points.


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DXY Dollar Index Elliott Wave View: Turning Lower


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 proposed complete at 92.08. While bounces stay below 92.08, but more importantly below 8/31 high at 93.36, Index should resume lower or at least pullback in 3 waves. If the Index breaks above 92.08, then cycle from 8/16 high has likely ended. In that case, Index should correct larger degree cycle from 8/16 high in 7 swing before the decline resumes provided pivot at 92.08 stays intact. We don’t like buying the Dollar Index.

DXY 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

VSTM Verastem Inc – Bullish Break

VSTM Verastem Inc has created a bullish break in the weekly time frame,
VSTM Verastem Inc (NASDAQ: VSTM) stock price has created a strong bullish break in the weekly time frame. The break comes in line with the recent announcement on Wednesday the 6th 09/17 relating to their progressing treatment for Leukemia which sky rocked the stock 44% higher. Wednesday’s catalyst for the rally is the positive top-line data from the Pivot Phase 3 DUO study for the treatment of certain types of Leukemia and Lymphoma.
According to reteurs.com
Verastem said its drug, Duvelisib, reduced the risk of disease progression or death in patients by 48 percent when compared with the current standard of care, Novartis’s Arzerra.
The oral drug was tested in 319 patients suffering from chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL), who did not respond to initial treatment or whose cancer had relapsed. CLL and SLL affect cells in the immune system, causing them to grow and multiply uncontrollably. There will be about 62,000 new cases of leukemia in the United States this year; of which CLL will account for about a quarter, according to the American Cancer Society. Verastem said it would file for a marketing application for duvelisib in the first half of 2018. The study results were “squarely positive,” and suggested a commercial opportunity that was not fully reflected in Verastem’s stock price, Cantor Fitzgerald analyst Mara Goldstein said in a client note.
Before we get into more details about the Stock, few words about the company.
According the company’s official website www.verastem.com, Verastem Inc. (NASDAQ: VSTM) is a clinical stage biopharmaceutical company focused on discovering and developing drugs which improve patients with cancer. Verastem’s product candidates seek to treat cancer by targeting malignant cells both directly and through modulation of the tumor microenvironment. Our most advanced programs target the phosphoinositide-3-kinase (PI3K) and Focal Adhesion Kinase (FAK) pathways.
VSTM Verastem Inc – Bullish Break in the Weekly TF

VSTM Verastem Inc – Bullish Break in the Weekly TF

(NASDAQ: VSTM) Verastem Inc. stock price broke the multi year bearish trend line the 07/10/2017; suggesting that the 07/08/2013 cycle from the all time highs of 18.70’s has been completed at the 1.05 lows. As we all know, after a trend line break, a retest follows to validate the move. The VSTM Stock price retraced lower after the break higher to retest the broken trend line. Price failed to extend below the 2.99 level and from there the stock extend higher. Recently, price broke one more important barrier, the larger degree descending channel’s median line adding additional strength to the overall bias.
At this stage; we anticipate a short term pull back to retest the median line around the 4.84 area.
VSTM Verastem Inc – Bullish Break in the Daily TF

VSTM Verastem Inc – Bullish Break in the Daily TF

The (NASDAQ: VSTM) Verastem Inc. stock at the Daily time frame has inline a bullish incomplete sequence from the 1.03 lows. At the time of conducting the study, price is trading at the 5.24 level. That level is the 61.8% – 76.4% Fibonacci extension of the (W) – (X) blue swings. From around current levels, we want to see the short term correction lower. The correction should mark wave B (red) and ideally retrace to the 4.80’s area. Post completion, we expect an extension higher towards our target at the equal legs – 1.236% extension, around the 6.60’s – 7.50’s zone.
Overall View & Trade Recommendation:
Our view favors the (NASDAQ: VSTM) Verastem Inc. Stock higher and recommends; Long Trades post Short Term 3-Swing Pull Backs. Wave B should unfold in 3, 7 or 11 swings against first degree the 2.99 “(X) blue” and second degree the all time lows at the 1.03 invalidation level.
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DXY Elliott Wave View 9.15.2017


DXY Dollar Index Short Term Elliott Wave view suggests that the Index ended Primary wave ((3)) at 91.01. Primary wave ((4)) bounce is proposed complete at 92.66 as a double three Elliott Wave structure. Wave (W) of ((4)) ended at 92.01, wave (X) of ((4)) ended at 91.71, and wave (Y) of ((4)) is proposed complete at 92.66. Down from there, Intermediate wave (1) ended at 91.97. Intermediate wave (2) bounce is in progress in 3, 7, or 11 swing to correct cycle from 9/14 peak. While bounces stay below there, expect Index to extend lower. We don’t like buying the Dollar Index.

DXY 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

AECOM Resuming the Rally Toward $50

AECOM (NYSE:ACM) provides planning, consulting, architectural and engineering design and program and construction management services for a range of projects including highways, airports, bridges, mass transit systems, to government and commercial clients. The company had US$17.4 billion of revenue during fiscal year 2016, it’s been ranked number one in Engineering News Record‘s “Top 500 Design Firms” for 8th consecutive year and named one of Fortune magazine’s “World’s Most Admired Companies” for the third consecutive year.
From 2008 low, AECOM stock is showing 5 swings incomplete bullish sequence which is different from the regular impulsive 5 waves move as we use this sequence as part of our new way of applying Elliott Wave Theory to the market. We believe that many instrument has the ability to trend using corrective Elliott wave structure rather then trending in 5 waves move, so this move is considered as part of a double three structure which has 7 swings.
AECOM managed last year to make new all time high, so using 2014 peak & 2016 low as a connector, the stock is looking to extend higher toward equal legs area 46.53 – 52.14 before ending the cycle from 2008 low.
AECOM Weekly Chart

AECOM ended 3 waves pullback from 12/12/2016 peak after it reached the 50-61.8 fib retracement area 31.75 – 29.63, so currently as long as it remains above the recent August low at 30.15 and most importantly as long as 22.84 pivot keeps holding then AECOM will extend higher to make new all time highs and reach the target around the $50 area.

Recap
AECOM has a bullish structure and technically it has resumed the move higher unless the move truncates without reaching the target and decide to make the double correction from 2016 peak. It’s not recommended to sell it and it’s better to look for buying opportunity during short term pullbacks using corrective structures in 3 , 7 or 11 swings.
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CADJPY Elliott Wave Sequence still bullish

CADJPY Elliott Wave Sequence is bullish and incomplete to the upside due to which we have been telling clients not to sell the pair and use the dips as an opportunity to get long for higher prices. Our Live Trading Room was able to catch a long in CADJPY for a profit of +197 pips recently and in this blog, we will take a look at CADJPY daily chart to show that the rally is not over yet and any pull backs should still be viewed as a buying opportunity in the sequence of 3, 7 or 11 swings.
CADJPY Elliott Wave Sequence from 11.9.2016

Daily chart of CADJPY shows the pair rallied in 3 waves from 11.9.2016 low to 12.15.2016 high. Then, the pair pulled back to 50 – 61.8 Fibonacci retracement area of the rally from 11.9.2016 low and made a new high above 12.15.2016 peak. As soon as pair broke above 12.15.2016 peak, it created a bullish Elliott wave sequence with a target of 94.57 – 97.91 area. We know that market doesn’t move in a straight line and always does pull backs. Since the pair broke above 12.15.2016 peak, we have been telling clients to use pull backs as a buying opportunity in 3, 7 or 11 swings. As far as dips hold above 8.11.2017 low i.e blue (X) low, pair should remain supported and see more upside towards 94.57 – 97.91 area.
CADJPY 8 Hour Elliott Wave Analysis
Pair is showing 5 swings up from 4.19.2017 low which makes Elliott wave sequence incomplete and bullish against 8.11.2017 low in this time frame. Pair has reached 0.618 – 0.764 Fibonacci extension area of (W)-(X). This is the area which will typically end 5th swing in a 7 swing sequence. Therefore, we don’t like chasing the longs here as a pull back can be seen soon in wave X. We don’t like selling the pair and expect wave X pull back to find buyers in 3, 7 or 11 swings as far as pivot at 8.11.2017 i.e. blue (X) at 85.44 low remains intact.

NZDUSD Elliott Wave View 9.20.2017

NZDUSD Short Term Elliott Wave view suggests that the Index shows a 5 swing sequence from 8/31 low favoring further upside. Rally from 8/31 low (0.7128) is unfolding as a double three Elliott Wave structure. Up from 0.7128, Minute wave ((w)) ended at 0.7338 and Minute wave ((x)) ended at 91.71. Wave ((y)) is currently in progress and the subdivision is also unfolding as a double three Elliott wave structure. Minutte wave (w) of ((y)) ended at 0.7344 and Minutte wave (x) of ((y)) ended at 0.7246. Near term, while pullbacks stay above 0.718, expect pair to extend higher. We don’t like selling the pair.

NZDUSD 1 Hour Elliott Wave Chart



Double three ( 7 swings) isthe most important pattern in Elliott wave’s new theory. It is also 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.

TSG Bullish in the Weekly – Keep Buying the Dip

The Star Group Inc. NASDAQ:TSG is Bullish in the Weekly, the reason we recommend keep buying the dips for extension higher.
Starting with the company’s profile. The Stars Group Inc. provides technology-based products and services to the global gaming and interactive entertainment industries. The company owns & operates gaming and related interactive entertainment businesses under the PokerStars, PokerStars Casino, BetStars, Full Tilt, StarsDraft, the PokerStars Championship, and PokerStars Festival live poker tour brands. Known as Amaya Inc, the Inc. founded in 2004, changed names in August 2017 and headquartered in Montréal Canada.
TSG Bullish in the Weekly
Starting with the Weekly chart. The stock will create a bullish incomplete sequence from the ((b)) lows at 9.65 when break above the recent peak at 20.30’s. Then we will be looking for the next move towards the 22’s – 24’s zone; the 61.8% – 76.4% extension of the first swing in W.
Dips from that area should be bought in 3, 7 or 11 swings. The 9.65 lows is the invalidation area and target the next equal legs – 1.236% extension to the 26.55 – 29.10 area to complete wave (I).


TSG Bullish in the Daily

TSG Bullish in the DailyIn the Daily time frame the stock looks very strong as well. According to Bloomberg.com, The Stars Group Inc. Announces Additional $75 Million of Debt Prepayment Sep 15, 17
The Stars Group Inc. announced that it will prepay without penalty an additional $75 million under its second lien term loan using cash on the balance sheet and cash flow from operations. -Following this prepayment, The Stars Group will have repaid $115 million of its second lien debt thus far in 2017, resulting in a total reduction in annual interest expense of approximately $9.5 million, and reducing the principal balance of the second lien term loan to $95 million.
At this stage we would like to see an extension above the w red highs at 20.30’s. Above the 20.30’s, short cycles validation for the extension up in the 7th swing from the ((b)) lows. Short Term dips in the 4 Hour and 1 Hour time frames should be bought after 3 7 or 11 swings for the first target to the 61.8% – 76.4% extension.
Around the 22’s 24’s TSG should do a pull back in ((X)) to give us the opportunity to enter again the Long side. Target the weekly extension to the equal legs – 1.236% zone.

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EURJPY Trade from 9/15 Trading Journal

Below is the trading journal for EURJPY on 9/15 Live Trading Room. We bought it at 130.85, with initial stop at 130.15 and target 133.5 and excellent reward vs risk of 3.8 to 1. We reached our target of 133.5 on Sept 19 for a total profit of 265 pips



EURJPY 1 Hour Elliott wave Chart 9/14

On Sept 14, we were looking to buy wave ((x)) pullback in 3 swing. The pair needed to correct cycle from 129.34 low as a zigzag. At the time, wave (b) was not yet complete so we used an estimate to buy wave (c) of ((x)) at 130.6 by assuming wave (b) of ((x)) has ended.

EURJPY 1 Hour Elliott Wave chart 9/15

The following day, as wave (b) of ((x)) ended, we could measure 100% of (a)-(b) at 130.60 – 130.83. We bought wave ((x)) pullback at 130.85 and formed a risk free trade once pair started to rally in our favor. Trade reached our target of 133.5 on Sept 19 for 265 pips with a 3.8 risk to reward ratio.
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Elliottwave View: AUDJPY Doing a Correction


AUDJPY Short Term Elliott Wave view suggests that the rally to 90.31 ended Intermediate wave (W). Intermediate wave (X) pullback remains in progress as a double three Elliott Wave structure. Down from 90.31, Minor wave (W) ended at 88.44 and Minor wave (X) ended at 89.68. Near term, while bounces stay below 90.31, expect pair to extend lower towards 87.36 – 87.8 area to complete Intermediate wave (X). Afterwards, pair should resume the rally to a new high or at least bounce in 3 waves. We don’t like selling the proposed pullback.

AUDJPY 1 Hour Elliottwave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

Elliottwave View: AUDJPY Correction in Progress

AUDJPY Short Term Elliott Wave view suggests that the rally to 90.31 ended Intermediate wave (W). Intermediate wave (X) pullback remains in progress as a double three Elliott Wave structure. Down from 90.31, Minor wave (W) ended at 88.44 and Minor wave (X) ended at 89.68. Near term, while bounces stay below 90.31, expect pair to extend lower towards 87.36 – 87.8 area to complete Intermediate wave (X). Afterwards, pair should resume the rally to a new high or at least bounce in 3 waves. We don’t like selling the proposed pullback.

AUDJPY 1 Hour Elliottwave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

NZDUSD forecasting the path and buying short term dips

Hello fellow traders. In this technical blog we’re going to take a quick look at the past Elliott Wave charts of NZDUSD published in members area of www.elliottwave-forecast.com. In further text we’re going to count the swings, explain the Elliott Wave view and trading strategy.
NZDUSD Elliott Wave 1 Hour Chart 09.14.2017
Back then we were pointing out that NZDUSD has ended cycle from the 07/27 peak at 0.7128 low. Consequently we’re expecting larger bounce to happen. NZDUSD is currently short term pull back agianst the 0.7128 low in wave ((x)) black.Proposed pull back is showing incomplete structure, suggesting another marginal push lower toward 0.7193-0.71628 area, where buyers will be waiting for further rally ideally.
Although we expected the rally, we didn’t force trades at that stage because the price structure didn’t have incomplete bullish sequences that will justify the risk.

NZDUSD Elliott Wave 1 Hour Chart 09.18.2017
Shortlly after, the price has reached proposed technical area at 0.7193-0.71628 . NZDUSD has found buyers there and we got the nice rally. A few days after, the price has broken above 09/08 peak, making incomplete bullish sequences in the cycle from the 0.71283 low. As we can see at the chart below, we have now 5 swings to the upside, when currently doing 6th swing. As far as pivot at 0.7181 low remians intact we expect the pair to find the buyers for further rally in 7th swing. Due to incomplete bullish sequences, we recommended members to buy the intraday dips in 3,7,11 swings against the 0.71815 low. Until pull back gives us clear 3 wave structure, we have 50-61.8 fibonacci retracement area as a potential buying zone : 0.7262-0.7243.

NZDUSD Elliott Wave 1 Hour Chart 09.19.2017
We got proposed pull back (x) and it has reached 50 fibonacci level as expected. It has unfolded as a clear 3 wave abc pattern, when buying area was at 0.7260-0.7247. It’s already giving us reaction from there. We would like to see more separation from the current short term low, to get confimration that (x) blue has ended. We expect the pair to trade higher and like staying long, targeting 0.73921-0.74417 area.

NZDUSD Elliott Wave 1 Hour Chart 09.20.2017
The pair is trading higher as expected, and members are enjoying profits in risk free trades. Next important technical area to the upside comes at 0.73921-0.74417 and it’s expected to be reached before cycle from the 0.7128 low completes as 7 swings structure. Mentioned area should find sellers , and we expect to see larger pull back from those levels.
We advised members to take profits there.

In the mean time the NZDUSD reached our target area : 0.73921-0.74417 and found sellers there. Keep in mind market is very dynamic. If you’re interested new forecasts of NZDUSD you can find them in the membership areaof EWF.
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Elliott Wave Analysis: AUDJPY Correction Near Complete

AUDJPY Short Term Elliott Wave view suggests that the rally to 90.31 ended Intermediate wave (W). Intermediate wave (X) pullback remains in progress as a double three Elliott Wave structure. Down from 90.31, Minor wave W ended at 88.44 and Minor wave X ended at 89.68. Minor wave Y is unfolding also as a double three Elliott Wave structure. Minute wave ((w)) of Y ended at 88.23 and Minute wave ((x)) of Y is proposed complete at 88.89. Near term, while bounces stay below 9/21 peak at 90.31, expect pair to extend lower towards 87.36 – 87.8 area to complete Intermediate wave (X). Afterwards, pair should resume the rally to a new high or at least bounce in 3 waves. We don’t like selling the proposed pullback.

AUDJPY 1 Hour Elliottwave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

AUDJPY Elliott Wave Analysis 9.29.2017


AUDJPY Short Term Elliott Wave view suggests that the rally to 90.31 ended Intermediate wave (W). Intermediate wave (X) pullback remains in progress as a double three Elliott Wave structure. Down from 90.31, Minor wave W ended at 88.44 and Minor wave X ended at 89.68. Minor wave Y is unfolding also as a double three Elliott Wave structure. Minute wave ((w)) of Y ended at 88.23 and Minute wave ((x)) of Y is proposed complete at 88.89. Near term, while bounces stay below 9/25 peak at 89.69, expect pair to extend lower towards 87.37 - 87.8` area to complete Intermediate wave (X). Afterwards, pair should resume the rally to a new high or at least bounce in 3 waves. We don't like selling the proposed pullback.

AUDJPY 1 Hour Elliottwave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

Elliott Wave Analysis: EURUSD in a flat correction

EURUSD Short Term Elliott Wave view suggests that the decline from 9/8 peak is unfolding as an expanded Flat Elliott Wave structure. Down from 9/8 high (1.2094), Intermediate wave (A) ended at 1.1837 and Intermediate wave (B) ended at 1.2034. Intermediate wave (C) is in progress as 5 waves. Minor wave 1 of (C) ended at 1.186, and bounce to 1.2 ended Minor wave 2 of (C). Down from there, Minor wave 3 of (C) ended at 1.1716, and bounce to 1.1832 ended Minor wave 4 of (C). Minor wave 5 of (C) remains in progress and can reach as low as 1.16207. This area will also complete Primary wave ((W)) and end cycle from 9/8 peak. Afterwards, pair should bounce within Primary wave ((X)) to correct cycle from 9/8 peak in 3, 7, or 11 swing before turning lower again.

Alternatively, if pair extends below 1.16207, then the entire move lower from 9/8 high could be labelled as 5 waves impulse. In this case, the current decline will only end Intermediate wave (3). Then pair should bounce in Intermediate wave (4) before the decline resumes again.

EURUSD 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

MU Micron Technology INC – Buy the Next Dip

Today we are going to take a look at the weekly chart of the MU Micron Technology Inc. stock which shows a very interesting price structure.
Before we proceed with the analysis, few words about the company. According to Wikipedia, Micron Technology Inc. is an American global corporation based in Boise, Idaho. Furthermore the company produces many forms of semiconductor devices, including dynamic random-access memory, flash memory, and solid-state drives. It’s consumer products are marketed under the brands Crucial Technology and Lexar. Micron and Intel together created IM Flash Technologies, which produces NAND flash memory.
By looking at the Stock price, 2016 and 2017 have been great years for MU. The stock has achieved an 400% parabolic extension to date from the lows at 9.31. The surge in the stock’s price is affiliated mostly to the company’s revenue growth in both sequential and annual basis.
We won’t get into more details with Micron’s very good economic condition but instead focus on the company’s stock.
MU Micron Technology – Weekly Chart

MU Micron Technology INC – Buy the Next Dip – Weekly Chart

The MU stock has a bullish incomplete sequence from the 11/17/2008 lows at 1.59. Additionally has a bullish sequence from the 2016 lows as well indicating 5 waves for wave ((A)). The 2008 sequence is in effect after breaking above the 12/2014 peak at 36.59. The second after taking the ((A)) peak at 32.33. After short term pull backs the Stock should continue extending higher until reach the equal legs – 1.236% extension of the w – x in red swing at the 42.50’s – 50.34 zone. Additionally, the stock should extend to the 2016 cycle ((A)) – ((B)) equal legs – 1.236% extension to the 50.34 – 56 zone.
From there we should see a larger degree pull back in (x) but at this point to soon to create any calls for that correction.
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CVR Energy (CVI) Daily Bullish Sequence

On November 2016, CVR Energy (NYSE: CVI) made an important low to end a daily correction from 2013 peak, up from there the stock either started a new bullish cycle to take it toward new all time highs or it’s just doing a 3 waves bounce.
We can notice that since last year low, CVI has outperformed the energy sector instruments including Crude Oil, XLE and stocks like XOM & CVX. CVR Energy is currently up %104 and looking for further gains during the last quarter of the year.

CVI Since November 2016 Low vs Energy Instruments

The energy sector was the weakest performer since the start of the year and despite the recent bounce seen since August 2017 low the majority of related instruments remain with a negative gain for 2017 and only CVI has managed to move back to the positive territory last week leading the move higher.

CVI Since Start of 2017 vs Energy Instruments
CVI Daily Chart Elliott Wave View
We mentioned on our previous article about CVI, how the stock is turning bullish after the first leg was unfolding as 5 waves and last week we had the confirmation with the break above January 2017 peak. So currently, CVI is showing a bullish sequence from 11/3/2017 low supporting more upside toward the first target at equal legs area $30.6 – $33.9 and from there we can decide the next path depending on the structure of the correction.

The stock can keep extending as an impulsive 5 waves structure with extension toward 161.8% fib ext area $39 or can end the move as 3 waves zigzag structure before a pullback take place against $12.03 low then higher again. Consequently, the potential scenarios that can take place has a bullish outcome for the stocks and we recommend members to remain on the long side.
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EURUSD Elliott Wave Analysis 10.5.2017


EURUSD Short Term Elliott Wave structure suggests the decline from 9/8 peak is in progress as an expanded Flat Elliott Wave structure. From 9/8 high (1.2094), pair declined to 1.837 and ended Intermediate wave (A). Pair then bounced to 1.2034 and ended Intermediate wave (B). At present, Intermediate wave (C) remains in progress as 5 waves impulse. Minor wave 1 of (C) ended at 1.186 and Minor wave 2 of (C) ended at 1.2. Decline to 1.1716 ended Minor wave 3 of (C), and Minor wave 4 of (C) bounce ended at 1.1832.

While near term bounce stays below 1.18329, pair can extend lower in Minor wave 5 of (C) and reach as low as 1.16207. This move lower will also end cycle from 9/8 peak and complete Primary wave ((W)). Pair should then bounce in Primary wave ((X)) to correct cycle from 9/8 peak in 3, 7, or 11 swing at least. If pair breaks above 1.1832 from here, it could be in Minor wave 4 as a flat before turning lower again in Minor wave 5. As the minimum target and swing have been met, pair may have also ended Primary wave ((W)) already if it breaks above 1.1832 from here without making a new low.

EURUSD 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

CADJPY Forecasting the Rally using Swings Sequences

Hello fellow traders. In this technical blog we’re going to take a quick look at the past Elliott Wave charts of CADJPY published in members area of www.elliottwave-forecast.com. In further text we’re going to count the swings, explain the Elliott Wave view and trading strategy.
Let’s start with 4 hour update.
CADJPY Elliott Wave 4 Hour Chart 09.09.2017
As our members know, we were pointing out that CADJPY has incomplete bullish swings sequences in the cycle from the 85.44 low. Rally from the 85.44 low is swowing 5 swings so far, when we’re ending 6th now . As far as the price holds above ((x)) low, marked as 4th swing, we expect to get rally in 7th swing. These type of structures are often in the market, and help us to determine future price action with high probability. Consequently, we advised members to avoid selling the pair and keep buying the dips in 3,7,11 swings. The pair is targeting 91.16-92.0 area, where buyers will be taking profit and that area should produce 3 wave pull back at least.

Let’s take a look at the lower time frame, to see how we forecasted potential reversal / buying zone .
CADJPY Elliott Wave 1 Hour Chart 09.09.2017
The pair is currently doing (b) blue pull back , correcting the short term rally from the 87.53. It’s already showing 3 waves from the peak that are expected to complete at technical area 88.70-88.48 (buying zone) . We expect to see further rally in 7th swing higher ideally.

The pair found buyers at 88.70-88.48 area and gave us rally in proposed 7th swing. Our target is reached at 91.16-92.0 area, and we’re currently getting expected pull back from there . Keep in mind market is very dynamic. If you’re interested new forecasts of CADJPY you can find them in the membership areaof EWF.
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Nikkei ( NKD_F) Elliott Wave View: Diagonal Structure

Short term Elliott wave view in Nikkei suggest that the cycle from August 29.2017 low (19055) is unfolding in 5 waves pattern. However looking at the internal subdivision of each wave the bounce looks corrective in nature with upside extensions. Thus suggesting that the Nikkei cycle from August 29 low (19055) could be following a leading Diagonal pattern in Minor wave A higher.
Where Minute wave ((i)) ended at 19740 peak as a flat structure, Minute wave ((ii)) ended at 19229. Minute wave ((iii)) ended at 20496 peak in 3 swings as zigzag structure. Where Minutte wave (a) ended at 19898 and Minutte wave (b) at 19765 low. Minute wave (((iv)) ended at 20131 low. From there Minute wave ((v)) remains in progress in 3 swings, where Minutte wave (w) ended at 20460, Minutte wave (x) at 20305 low. While above 20131 low, Index is expected to see further strength towards 20630 – 20707 to complete wave ((v)) of the Diagonal structure and then it should pull back in 3 waves at least. RSI divergence with respect to wave ((iii)) should remain intact with the next push higher for the diagonal ideal to remain valid. If RSI divergence is erased, then structure would become a triple three Elliott wave structure.
Nikkei 4 Hour Elliott Wave Chart

Keep in mind that the market is dynamic and the view could change in the mean time. Success in trading requires adequate risk and money management. As is the understanding of Elliott Wave theory, cycle analysis and correlation. We have developed a very sensitive trading strategy that defines entry. Stop loss and take profit levels with high accuracy and allows you to take risk free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader, register now for your 14 day Trial.