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EURAUD Intra-Day Elliott Wave Analysis 11-23-2017

EURAUD Short Term Elliott Wave view suggests the decline to 1.5057 ended Intermediate wave (X). Up from there, the rally unfolded in 5 waves impulse Elliott Wave structure, suggesting that while pullbacks stay above 1.5057 low, pair could see more upside. Up from 1.5057, Minute wave ((i)) ended at 1.5234, Minute wave ((ii)) ended at 1.5075, Minute wave ((iii)) ended at 1.5606, Minute wave ((iv)) ended at 1.5481, and Minute wave ((v)) ended at 1.5657.

The 5 waves impulsive rally from 1.5057 low ended Minor wave A of azigzag Elliott Wave structure. Minor wave B is currently in progress as a double three Elliott Wave structure. Minute wave ((w)) ended of B at 1.545 and Minute wave ((x)) of B ended at 1.5626. Pair has scope to reach 1.529 – 1.542 area to end Minute wave ((y)) of B, and pair should then resume the rally higher or bounce in 3 waves at minimum. We don’t like selling the pair and expect buyers to appear in 3, 7, or 11 swing dips for at least a 3 waves bounce as far as pivot at 1.5057 low stays intact.

EURAUD 1 Hour Elliott Wave Analysis

Attached Image (click to enlarge)

Attached Image (click to enlarge)

Will Germany’s Crisis Affect Euro Dollar?

Germany suddenly found itself in a political turmoil on Monday after the month-long talk to form a three-coalition party between Angela Merkel’s conservative bloc (CDU/CSU), the pro-business Free Democractic Party (FDP) and environmentalists Greens has failed. The crisis definitely challenges the idea that Germany is the anchor of democratic stability in Europe. FDP walked out of the negotiations on Sunday, saying they could not find a common ground on migration and environment.
From the image of the eternal chancellor and leader of the free world, Merkel now is battling to keep her power as the fourth term is not guaranteed. This could leave Germany stuck for months with lameduck government and spell bad news for the stability of European Union. The parties would now have three weeks to attempt the negotiation again. But unless the deadlock ended, Germany has three options:
1) Merkel’s CDU could form a coalition with the opposition Social Democrats (SPD). After all, they have the experience of working together from 2013-2017. However, SPD has clearly ruled out working together again with CDU. In the last election, SPD received a historic low 20.5% in the poll, suggesting that the coalition with Merkel’s party didn’t provide any political benefit.
2) CDU could try to govern in a minority government. In this case, CDU would need to seek majority support for each bill it presents to parliament. However, Germany has never had a minority government since the end of second world war. This is an option with inherent instability and Angela Merkel herself has indicated that she would rather have fresh election.
3) Fresh election in Spring 2018. This option however is difficult to execute as Germany’s Basic Law requires the German President to first nominate Merkel as chancellor. Then she would need to earn a majority of votes in the German parliament / Bundestag. After she fails to gain majority 3 times, then the President will dissolve the Bundestag and calls for new elections within 60 days. And even if this step is successful, a new election does not guarantee a different outcome as German voters may not make different choices.
Recall that in September 2017 election, Ms. Merkel and her conservative party CDU won, but it was weakened. The surprise is the strong result from nationalist and populist right-wing AfD (Alternative for Germany) party, and also the return of pro-business FDP to the Bundestag. Below is the result of the September election and a new election doesn’t necessarily boost Merkel’s party vote share.

If the uncertainty persists and the parties couldn’t come into agreement, then most likely fresh election will be the outcome. This could potentially affect the stability of Germany and the European Union. It may also provide a cap to potential Euro dollar strength.
EURUSD Euro Dollar Daily Elliottwave Chart

The entire rally from 1.3.2017 low to 9.8.2017 peak can be labelled as a 5 waves with momentum divergence clearly observed. In this view, pair could see further downside to correct the rally from 1.3.2017 low. 50% – 61.8% retracement can bring the pair down to 1.1215. Alternatively, pair could see another leg higher in wave ((5)) before ending the 5 waves up from 1.3.2017 low. Pair is at the crossroad now with SMA (Simple Moving Average) 50 about to cross below SMA 100. If the political uncertainty persist and there’s no immediate solution, then we may see pair correcting further.
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Hangseng Trade from 11/17 Live Trading Room
November 22, 2017 By EWFHendra
Hangseng Trade Video Clip from 11/17 Live Trading Room
On Friday last week, we told members that we like to buy the 3 wave dips in Hangseng Index and the pullback would likely happen this week. We said we are looking to buy Hangseng this week if it pullback in 3 swing pullback within wave (ii).


Here is the video clip of the Hangseng trade idea on Friday Nov 17, 2017 Live Trading Room. Watch to see how we explained it to members


When the Asia market opens early Monday this week, Hangseng did make the 3 waves pullback. We posted Intraday Video in the member’s area to tell members we like to buy the dips now. Below is the Intraday Video we posted to members
Video Player
00:00
02:20
We bought the Hangseng Index at 29112 and it reaches our target of 30000 today for 888 points profit and an excellent 7:1 Reward to Risk Ratio. Below is the entry in our Live Trading Room Journal

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Dow Jones (YM #F) Made New All Time High

HellIn this technical blog we’re going to take a quick look at the past Elliott Wave charts of YM #F (Dow Jones DJI Mini Futures) published in members area of www.elliottwave-forecast.com. We’re going to take a look at the price structure and explain Elliott Wave forecast. As our members know , we were pointing out that DJI is trading within larger bullish trend in the Weekly cycle from the 2016 low. We advised our members to avoid selling it, keep favoring the long side as as the mentioned cycle from the January 2016 low is still alive.
Let’s take a look at the previous short term Elliott Wave forecasts.
DJI 1 hour Weekend update 11.18. 2017
As we can see on the charts bellow we were calling correction from the 11/7 peak ( 23556) completed at the 23203 low. Currently DJI is doing short term pull back against the mentioned low that is labeled as wave ((x)). Proposed pull back is unfolding as Double Three structure (w)(x)(y) , when it’s having incomplete structure, missing another short term leg lower. We expect it to reach 23256-23225 area ideally before buyers appear for proposed rally. Once short term pull back ((x)) completes, we expect further rally to make new all-time high.

DJI 1 hour London update 11.22. 2017
Short term pull back reached propsoed technical area at 23256-23225 .Buyers were strong enough to break above previous peak. Currently at short term tech zone : 23560-23660 where buyers will be taking profits, hence we can see short term pull back from there.
We have removed some lables on the chart below, in order to protect clients’ privileges. If you’re interested in new Elliott Wave forecasts of DJI you can find them in the membership areaof EWF.


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Retail Industry Index Providing The Next Long

The S&P Retail Industry Index comprises stocks in the S&P Total Market Index that are classified in the GICS retail sub-industry. For this article we’ll be using The SPDR S&P Retail ETF (XRT) which tracks an equal-weighted index of stocks in the US retail industry and correspond generally to the total return performance of the S&P Retail Select Industry Index.
The performance of XRT is significantly correlated to the prevailing level of consumer confidence in the economy because the ETF represent the companies whose main business is selling retail merchandise to consumers like WalMart , Groupon, American Eagle, ect.
XRT Sectors and Holdings

To understand the current situation for the Index we need to take a look at the bigger picture since the recent recession after the 2008 Crash :
Retail Industry Index ETF ‘XRT’ Weekly Chart

The ETF Rallied strongly from it’s 2008 low showing an impulsive 5 waves advance that ended at 2015 pea. Since then, the Index started wasn’t able to rally to new highs similar to the majority of sectors in the stock market.
XRT currently is still correcting the cycle from 2008 low and looking to do a double three structure toward 100% – 123.6% Fibonacci extension area 34 – 31 where it can find buyers for a move to new highs or at least 3 waves bounce.
How can we use the weakness in the retail index to our favor ?
The world financial market is all correlated together and every instrument is related to each other in different dimension. In our next chart we can see how XRT and RUSSEL Index are sharing the same 2016 low which was a buying opportunity around the market as the majority of Indexes rallied to new highs from.
The rally around the world is still in progress almost for 2 years now while the retail industry index remained in a sideways range during that time. As the instrument has a corrective structure taking place then we can use the extreme area to know where the next buying opportunity will take place.
Russel (RUT) VS Retail Industry Index (XRT)

The rally in the stock market is far from ending but correction do take place, that why we use different tools like distribution system , pivots , cycles and correlation to help us identify the right time to switch and look for the next opportunity.
Some of clearest instruments that guide investors around the market in these conditions is the clear structure in Apple (AAPL) and NASDAQ (NQ_F) as both are leading the move to the upside. However as the market is bullish it’s always the wrong call to call a top against the trend as extension can always accrue in the strongest instruments, therefore it’s better to use a weak element in the market like XRT to identify where the bounce can fail and combined with the rest of tools to get a perfect match.
Retail Industry Index ETF ‘XRT’ Weekly Chart

The retail industry ETF ‘XRT’ is currently showing an incomplete 5 swings bearish sequence from 2015, which is part of 7 swings corrective structure and consequently we expect the ETF to keep fail lower as long as the pivot at December 20016 peak (48.3) is holding.
The current 3 waves bounce in XRT is looking to reach extreme area 42.95 – 45.59 where we expect sellers to appear, therefore around that area the stock market would find a short term peak and start at least a 3 waves correction to the downside.
Recap
The majority of retail traders are trying to Time the Peak in Stock Market to get in short side while the big players are looking for the next pullback to take place so they can add more Longs. Using an ETF like XRT to trade to short side and hedge your portfolio during market correction is a far better trade then trying to short Apple or Nasdaq.
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YM_F Dow Short Term Elliott Wave view

YM_F Dow Short term Elliott Wave view suggests that Intermediate wave (4) ended at 23204. Rally from there is unfolding as a leading diagonal Elliott wave structure. Minute wave ((i)) ended at 23464, Minute wave ((ii)) ended at 23241, Minute wave ((iii)) ended at 23599, Minute wave ((iv)) ended at 23432, and Minute wave ((v)) ended at 23616. The 5 waves leading diagonal rally also ended a higher degree Minor wave 1.

Minor wave 2 pullback is currently in progress to correct cycle from 11/15 low (23204) in 3, 7, or 11 swing before Index resumes the rally higher or at least bounce in 3 waves. The 50 – 76.4% retracement at 23302 – 23410 could be a potential area where Minor wave 2 may end, although the pullback doesn’t need to go that low. We don’t like selling the proposed pullback and expect buyers to appear once Minor wave 2 pullback is complete in 3, 7, or 11 swing provided pivot at 23204 low stays intact.

YM_F Dow 1 Hour Elliott Wave Chart

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Attached Image (click to enlarge)

Dow Future Elliott Wave Analysis 11.29.2017

Dow Future Short term Elliott Wave view suggests that Intermediate wave (4) ended at 23204. The rally from there is proposed to be unfolding as a double three Elliott wave structure. Minute wave ((a)) of 1 ended at 23599 and Minute wave ((b)) of 1 ended at 23432. Near term focus is on 23828 – 23922 to complete Minute wave ((c)), and this should also end Minor wave 1 and cycle from 11/15 low. Afterwards, Index should pullback in Minor wave 2 in 3, 7, or 11 swing to correct cycle from 11/15 low before the rally resumes. We don’t like selling any proposed pullback and expect buyers to appear again once Minor wave 2 pullback is complete in 3, 7, or 11 swing provided pivot at 23204 low stays intact.

YM_F Dow Future 1 Hour Elliott Wave Chart

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Attached Image (click to enlarge)

Dow Future Elliott Wave Analysis 11-30-2017

Dow Future Short term Elliott Wave view suggests that Intermediate wave (4) ended at 23204. The rally from there is proposed to be unfolding as a leading diagonal Elliott wave structure. Minute wave ((i)) ended at 23464, Minute wave ((ii)) ended at 23241, Minute wave ((iii)) ended at 23599 and Minute wave ((iv)) ended at 23572. Cycle from 11/15 low (23204) is mature and has reached 1.236 extension, but while pullbacks stay above 23618, Index still can see one more leg higher to end Minute wave ((v)).

The 5 waves leading diagonal rally from 23204 low should also end Minor wave 1 of larger degree. Index should then pullback in Minor wave 2 in 3, 7, or 11 swing before the rally resumes. We don’t like selling any proposed pullback and expect buyers to appear again once Minor wave 2 pullback is complete in 3, 7, or 11 swing provided pivot at 23204 low stays intact.

YM_F Dow Future 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

Dow Future Elliott Wave Analysis 12-1-2017

Dow Future Short term Elliott Wave view suggests that Intermediate wave (B) ended at 23204. The rally from there is proposed to be unfolding as a leading diagonal Elliott wave structure. Minute wave ((i)) ended at 23599, Minute wave ((ii)) ended at 23432, and Minute wave ((iii)) ended at 24328. Minute wave ((iv)) is in progress to correct cycle from 11/23 low and while pullbacks stay above 23618, expect another push higher to finish Minute wave ((v)). The 5 waves leading diagonal rally from 11/15 low should end Minor wave 1 of a larger degree when Minute wave ((v)) is complete later. Afterwards, Index should pullback in Minor wave 2 in 3, 7, or 11 swing before the rally resumes. We don’t like selling any proposed pullback.

YM_F Dow Future 1 Hour Elliott Wave Chart

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Attached Image (click to enlarge)

ES_F (S&P 500) Buying the Elliott Wave dips

In this Technical blog, we are going to take a quick look at the past Elliott Wave Chart performance of ES_F (S&P 500). Which we presented to our clients at elliottwave-forecast.com. We are going to explain the structure and the forecast. As our members know, we were pointing out that ES_F (S&P 500) is trading within the larger bullish trend in the Weekly cycle from the 2016 low. We advised our members to avoid selling it, keep favoring the long side as the mentioned cycle from the January 2016 low is still incomplete to the upside.
ES_F (S&P 500) 11.13.2017 4 Hour Elliott Wave Chart



Above is the 4hr Chart from 11.12.2017 Weekend update the index was showing the incomplete impulsive sequence to the upside within the cycle from March lows. And the index was expected to see more upside within that cycle as far as dips remain above 8/21 low 2415.72. It is also important to note that, in the above Chart, we can see that there is a green arrow to indicate that the trend is up, the bullish Sequence mark to maintain the sequence is also bullish. So, we advised our member’s to buy the dips in the index on any blue box in 3, 7 or 11 swings provided the pivot at 2415.72 low remains intact. In the Above Chart, we can see that the index is showing blue box area for the long side at 2553.06-2532.82 100%-1.618% Fibonacci extension area of W-X.
ES_F (S&P 500) 11.17.2017 1 Hour Elliott Wave Chart

The index fails to reach it’s blue box area 2553.06-2532.82 100%-1.618% Fibonacci extension area of W-X and rallied strongly with Intermediate wave (4) dip ended at 2555.51 low. Above from there, the index ended the first leg higher in Minute wave ((w)) at 2589.73 and did another 3 waves back in Minute wave ((x)) dip. And offered us another buying opportunity from blue box area i.e 50-764% Fibonacci retracement area at 2572.44-2563.43.
ES_F (S&P 500) 11.20.2017 1 Hour Elliott Wave Chart

The index ended the dip to 2555.74 low in Minor wave 2 pullbacks at 2568.40 low as expected. After reaching the 50-764% Fibonacci retracement area at 2572.44-2563.43 ( blue box area) and gave us the reaction higher to allow our members to create a risk-free position. Since then, the index has broken to new highs suggesting that the next extension higher in Intermediate wave (5) has started and now any dip in the index should provide buying opportunity against 2555.74 low in a sequence of 3, 7 or 11 swings. Please Note that we adjusted the degree of labeling from Minute to Minor.
Keep in mind that the market is dynamic and the view could change in the meantime. Success in trading requires proper risk and money management as well as the understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry. Stop loss and take profit levels with high accuracy and allows you to take a 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.

GBPNZD Forecasting Rally Based on Bullish Sequence

In this technical blog we’re going to take a quick look at the past Elliott Wave charts of GBPNZD published in members area of www.elliottwave-forecast.com. We’re going to explain the Elliott Wave forecast and our trading strategy
As our members know , we were pointing out that GBPNZD is trading within larger bullish trend. The pair is showing incomplete bullish sequences in 2 cycles of larger degrees: from the November 2016 and June 2017 lows. Consequently , we advised our members to avoid selling it,and keep buying the dips in 3,7,11 swings when get chance.
Let’s take a look at the previous short term Elliott Wave forecasts.
GBPNZD 1 hour Asia update 11.28.2017
As we can see on the charts bellow wave ((x)) back is in progress, correcting the short term cycle from the 1.878 low. Proposed pull back is unfolding as Double Three structure (w)(x)(y), when we’re already in (y) leg lower. More precisely we’re in 7th swing from the peak that is looking for 1.9136-1.8996 area to complete proposed pull back. We don’t recommend selling the pair and favor buying the dips at the mentioned area. Invalidation for the long positon is break below 1.8996.

GBPNZD 1 hour New York Midday update 11.28.2017
Shortly after we got proposed leg lower toward our buying zone. Short term sellers broke little bit below 1.236 fibonacii extension level:1.9100, however buyers appeared immediately and the price has made sharp rally from there. We’re getting nice reaction so far and calling pull back ((x)) completed at 1.90749 low. Long positions are already risk free.

GBPNZD 1 hour London update 11.30.2017
1.90749 low held nicely during short term pull back and we got further rally. Buyers were strong enough to break the price above previous peak, reaching important technical area : 1.98284 where buyers will be taking profits.
Note: we have removed some lables on the chart below, in order to protect clients’ privileges. Keep in mind market is very dinamic and view could have ended in meantime. If you’re interested in new Elliott Wave forecasts of GBPNZD you can find them in the membership areaof EWF.

Elliott Wave Forecast
We cover 78 instruments in total, but not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room. If not a member yet, Sign Up for Free 14 days Trial nowand get access to new trading opportunities.
Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy and allows you to make position Risk Free, shortly after taking it. If you want to learn all about it and become a professional Trader, join us now.
Welcome to ElliottWave-Forecast.com !
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Nasdaq Short Term Elliott Wave Analysis

Nasdaq Short term Elliott Wave view suggests that the rally to 6429.5 ended Intermediate wave (3). Intermediate wave (4) pullback is currently in progress to correct cycle from 8/21 low (5753.6) in 3, 7, or 11 swing before Index resumes the rally. Subdivision of Intermediate wave (4) is unfolding as a double three Elliott wave structure where Minor wave W ended at 6246 and Minor wave X ended at 6391.75. Minor wave Y of (4) is in progress towards 6096.66 – 6209.70 area, then Index should resume the rally higher from there or bounce in 3 waves at least. We don’t like selling the proposed pullback and expect buyers to appear from the above area for at least a 3 waves bounce as far as pivot at 8/21 low (5753.6) stays intact.

NQ_F Nasdaq 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

AUDCAD : Selling Opportunity

AUDCAD Technical Analysis 12.4.2017
AUDCAD has already pushed lower since it formed a top last week on November 30 2017. The pair is showing bearish patterns which has already sold off from. Red bearish pattern triggered sells at the red BC 0.50% Fib. retracement level where the pair reversed lower from that area. To add more bearish sentiment AUDCAD has also broken below a bearish channel/flag green pattern which is calling for more downside below the 0.9611 November 17 2017 low. As to how to get in the sell off now, we must wait for the BC 50% Fib. retracement of the possible blue bearish pattern to trigger. A pullback to the 0.50% level of the blue bearish pattern will find more sellers and push AUDCAD lower.


If looking to sell AUDCAD traders should be patient and wait for price to terminate blue point C first between the area of the AB 1.618% – 2.24% Fib. retracement levels and then make a move higher towards the blue BC 0.50% Fib. retracement level where the SELL triggers. Waiting for price to hit the blue BC 0.50% Fib. retracement minimum will offer a better risk/reward trade setup. Blue bearish pattern is invalidated if price moves above point B level of the pattern.
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on Twitter for updates and questions> @AidanFX or chat me on Skype > EWF Aidan Chan
*** Always use proper risk/money management according to your account size ***
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Sterling Volatility In Crucial Week of Brexit Talk

Sterling fell versus the dollar earlier this week as Brexit talk between the UK and EU falter at the last minute. British Prime Minister Theresa May is on the race to break the deadlock after potential solution to the Irish border issue failed at the last minute. Irish border is one of the three key issues required to be settled before U.K can move on to the next stage of Brexit talk. The next phase of talk involves trade negotiation at the crucial EU summit on December 14.
Early on Monday, Ms. May met with EU leaders Jean Claude Juncker and Donald Tusk in Brussels to settle the terms of Brexit with the EU. The UK is reportedly prepared to accept that Northern Ireland may remain in the EU’s custom union and single market. However, the potential agreement fell through at the last minute by the intervention from Northern Ireland’s Democratic Unionist Party (DUP). The Unionist party currently provides the Tories with a working majority in the Commons. The DUP leader Arlene Foster has indicated that she could not accept any Brexit deal that separates the Northern Ireland from the rest of the UK.
Pound fell versus the dollar and the reversed earlier rally as news about the failure to reach agreement start to surface

The EU says it will only recommend the start of talks about future trade arrangements when sufficient progress has been reached on three key issues: Status of expat citizens, the “divorce” bill, and the Northern Ireland border. On the “divorce bill”, the UK has increased its offer up to 50 billion Euros. On the issue of EU citizens in Britain, the UK agrees that they don’t need to pay to apply for settled status if they already have permanent residence. However, those who apply for the first time for the right to stay will need to pay some fees.
The Sterling will remain volatile ahead of the upcoming EU leaders summit on December 14. However, a “no deal exit” would mean substantial wealth losses in both the UK and EU. It’s therefore in everyone’s best interest to seek progress. Interestingly, despite the lingering uncertainties around the U.K’s exit from the EU, Sterling is still very resilient and ranks the top three best performing currency among G-10 peers this year
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Sterling Technical Outlook
Technical positioning of two Sterling pairs confirm that the markets are becoming less sensitive to the ups and downs of the Brexit process. With some more breakthrough on the negotiation, Sterling could see more recovery in 2018, especially if the talks progress sufficiently to open up negotiations on trade.
We will take a look at two Sterling Crosses below: GBPAUD and GBPJPY
GBPAUD Daily Technical Chart

GBPAUD Daily chart shows a 7 swing bullish sequence from 10.7.2016 low and it appears the pair still could extend higher to 1.815 – 1.862 area, provided that pivot at 8/25 low (1.615) stays intact. Please note that these numbers refer to swing counts and do not denote Elliott Wave labels, such as impulsive 5 waves.
GBPJPY Daily Technical Chart

GBPJPY also show 3 swing bullish sequence from the same pivot at 10.7.2016 low. The pair also appears to have scope to extend higher towards 161 – 167 area, as far as pivot at 4/17 low (135.6) stays intact.
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Nvidia NVDA Correction is Around the Corner

The American semiconductors company Nvidia (NASDAQ: NVDA) is specialized is designing graphics processing units (GPUs) for the gaming, cryptocurrency, and professional markets, as well as system on a chip units (SoCs) for the mobile computing and automotive market.
Nvidia is considered as one of the strongest technology companies this year and its stock NVDA enjoyed a great rally this year despite the recent 15% pullback. If we compare NVDA performance for this year to its main competitors Intel (INTC) and Advanced Micro Devices (AMD) then we can notice how strong the company has been this year, as well as outperforming both the Technology Select Sector SPDR ETF (XLK), which is the best performer sector for 2017, and The VanEck Vectors Semiconductor ETF (SMH) which contains the mega-cap semiconductors companies.

To understand the current situation for the Stock, we’ll explain the technical chart using Elliott Wave Theory and present 2 possible scenarios that could be taking place by the end of this year:
1st Scenario: NVDA Ending Diagonal

In the chart above, we are presenting the cycle from July low as 5 waves ending diagonal structure which is still incomplete. The move is missing another leg higher toward extreme area $227 – $242 where the stock will be expected to end that cycle and start a 3 waves correction at least.
2nd Scenario: NVDA Double Three

In the second chart, we are considering the cycle from July low completed as 7 swings double three structure after it reached equal legs area $211 – $229. Therefore the stock already started the correction lower with the first leg taking place during the recent decline. In this case, NVDA short term bounce is expected to fail below the recent $218 peak to be able to extend the correction lower toward the 50%-61.8% Fibonacci retracement of the rally around $156 – $142 area.
Conclusion
Nvidia short term analysis is suggesting a correction to take place either after making new all time highs or the pullback is already in progress. Consequently buyers need to be careful during the next period and it would be wise to wait for a clear corrective structure to take place before re-entering the long side.

If you’re interested in getting more insights about the Technology Sector then take this opportunity and try our services 14 days to learn how to trade Stocks and ETFs 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 & Analysis Session done by our Expert Analysts every day, 24-hour chat room support and much more.

Nasdaq Intra-Day Elliott Wave Analysis

Nasdaq Intraday Elliott Wave view suggests that rally to 6429.5 ended Intermediate wave (3). Intermediate wave (4) pullback is currently in progress to correct cycle from 8/21 low (5753.6) in 3, 7, or 11 swing before the rally resumes. Subdivision of Intermediate wave (4) is unfolding as a double three Elliott wave structure where Minor wave W ended at 6246 and Minor wave X ended at 6391.75. Minor wave Y of (4) is still missing the 100% area at 6096.24 – 6209.28, thus another leg lower still can’t be ruled out. Index should then resume the rally higher or bounce in 3 waves at least.

We don’t like selling the proposed pullback and expect buyers to appear from the above area for at least a 3 waves bounce provided that pivot at 8/21 low (5753.6) stays intact. Alternatively, cycle from 11/29 peak has ended at 6231.75 low and in this case the Index is already in the process of correcting the decline from 11/29 in a larger 3 waves at least.

NQ_F Nasdaq 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

AT&T Showing Elliott Wave Impulsive Sequence

AT&T Short term Elliott Wave view suggests that the decline to November 06 low 32.56 ended Cycle wave X. A rally from there is unfolding as an impulse Elliott Wave structure with extension in 3rd swing higher and each leg has internal oscillations of 5 waves thus favoring it to be an impulse. These possible 5 waves move higher should end Minor wave 1 in an Impulse sequence or a wave C of a FLAT correction from 10/25 low (33.34). In either case, after 5 waves move ends, the stock should pull back in 3 waves at least as the Elliott Wave Theory suggests.
Up from 32.56 low Minute wave ((i)) ended 34.45, Minute wave ((ii)) ended at 33.59 low, Minute wave ((iii)) ended at 37.52 on 12/04 peak. Below from there, Minute wave ((iv)) pullback in progress for the correction of 33.59 cycle towards 36.06-35.49 100%-161.8% Fibonacci retracement area. Then from there, as far as a pivot from 33.59 low stays intact the stock is expected to resume the upside to complete a 5 waves impulse in wave 1. Afterwards, stock should pull back in wave 2 to correct the cycle from 32.56 X low. We don’t like selling it and we expect short-term buyers to appear in 36.06-35.49 area for a 3 wave bounce at least.
AT&T 1 Hour Elliott Wave Chart

Keep in mind that the market is dynamic and the view could change in the meantime. Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry. Stop loss and take profit levels with high accuracy and allows you to take a 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 Free 14 day Trial.

Nasdaq Elliott Wave Analysis 12-8-2017

Nasdaq Short Term Elliott Wave view suggests that Intermediate wave (3) ended at 6429.5 and Intermediate wave (4) pullback is proposed complete at 6231.75. Subdivision of Intermediate wave (4) is unfolding as a double three Elliott wave structure where Minor wave W ended at 6283, Minor wave X ended at 6391.75, and Minor wave Y of (4) ended at 6231.75. Index still needs to break above Intermediate wave (3) at 6429.5 for this view to gain validity. Until then, we still can’t completely rule out a break below Intermediate wave (4) at 6231.75 in a double correction.

Near term, cycle from 12/5 low (6231.75) is mature and expected to complete soon with Minute wave ((w)). Index should then pullback in Minute wave ((x)) to correct cycle from 6231.75 low in 3, 7, or 11 swing before Index resumes the rally. We don’t like selling the proposed pullback.

NQ_F Nasdaq 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

Dow Jones Transportation Average Index Still Calling Higher

In this blog-post, I want to discuss with you guys, why we think that the Dow Jones Transportation Average can still see more upside.
First of all, let me explain what the Dow Jones Transportation Average Index is. The DJT is made off of the top 20 delivery, airline, trucking and railroad stocks. In the chart below you can see the companies listed in that index. The DJT is the oldest stock index which was created by Charles Dow in 1884.
Dow Jones Transportation Index Companies


But why do we need to take this specific index into consideration? Well, The Dow Jones Transportation Average is closely monitored by economists to gauge the state of the U.S economy, especially by people who follow the Dow Theory. The Dow Transportation Index is often a leading indicator of where the Dow Jones Index is overall heading because people and businesses ship and sends more stuff when the economy, (especially the business economy) is doing well, and they pull back when it isn’t. Obviously, we need to understand that it’s not a perfect gauge but it surely can give us an approximate path. Anyway, if you have an overall look at the index you can make out that it’s a kind of leading indicator to the U.S. indices. Especially with the Dow Jones Industrial Average in comparison.

Dow Jones Transportation Index vs Dow Jones Industrial Average Weekly Charts

You can see in the chart above that the DJT (First chart) topped in 2015 first, whereas the Dow Jones industrial average was still rallying to the upside before turning lower as well. This is only one of many examples you can find when comparing them together.
Now, let’s have a more detailed look at the DJT.

Dow Jones Transportation Index Monthly Chart


First of all, you need to understand that today’s market can advance in 2 types of sequences. The first type is 5-9-13 or motive sequence and the second type is the 3-7-11 corrective sequence. The Dow Jones Transportation Index is in a corrective sequence, where the market is currently in the 5th swing which needs to come with RSI divergence. That confirms that the market is from 2009 unfolding a 5 swing incomplete sequence and consequently it has not reached the 100% from 2009 low. However, soon a correction in the 6 swing should occur. But in the long term view, we still remain bullish. This chart can just be another confirmation that indices could still make another push higher. Please also read this article here which we wrote about global indices: https://elliottwave-forecast.com/sto...h-more-upside/

At Elliottwave-Forecast, we believe that there’s only one Market. Having more than 2 Indices calling more upside mean the whole group will trade higher eventually. We believe in cycles, distribution, and many other tools in addition to the classic or new Elliott wave Principle. To get a regular update on the market and Elliott wave charts in 4-time frames, try EWF 14 days for FREE.

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GBPAUD Buying The Dips After Double Three Correction

Hello fellow traders. In this technical blog we’re going to take a quick look at the past Elliott Wave charts of GBPAUD published in members area of www.elliottwave-forecast.com. We’re going to explain the Elliott Wave forecast and our trading strategy.
As our members know , we were keep saying that GBPAUD is trading within larger bullish trend. The pair is showing incomplete bullish sequences in the cycle from October 2016 low, targeting 1.8144 area. Consequently , we advised our members to avoid selling it,and keep buying the dips in 3,7,11 swings when get chance.
Let’s take a look at the previous short term Elliott Wave forecasts.
GBPAUD 1 hour Asia update 12.05.2017
As we can see on the charts bellow, wave X red pull back is in progress. Proposed pull back is unfolding as Double Three structure ((w))((x))((y)), when we’re in ((y)) leg . As of right now the pair is showing 5 swings from the 1.79098 peak, suggesting more short term wekness in order to complete 7 swings structure. Although the pair is expected to trade lower in short term, we don’t recommend selling it against the main bullish trend. We’re looking for 1.75455-1.74857 area where we would like to be buyers. Invalidation for the long positon is break below 1.618 Fibonacci extension : 1.7388 level

GBPAUD 1 hour New York update 12.05.2017
Shortly after we got proposed leg lower toward our buying zone. Short term sellers pull the price toward 1.236 Fibo extension at 1.74872 where buyers appeared. The price has made nice reaction from there. We’re calling pull back X red completed at 1.74872 low, expecting further rally toward new high ideally . We advised members to make long positions risk free as soon as the price reaches 50 Fibonacci retracement area against the ((b)) high.

In the mean time 1.74872 low held nicely and buyers were strong enough to break above 1.7909 peak.
Keep in mind market is very dinamic and view could have ended in meantime. If you’re interested in new Elliott Wave forecasts of GBPAUD and trading recommendations you can find them in the membership areaof EWF.
Elliott Wave Forecast
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