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USDJPY Elliott Wave Suggest Extension Towards 118.24-120.30 Next
USDJPY short-term Elliott wave view suggests that the pair is nesting higher as impulse structure. Looking for an extension higher towards 118.24-120.30 100%-123.6% Fibonacci extension area from 3/23/2018 low. And until that area is reached dips are expected to remain supported in 3, 7 or 11 swings looking for upside extension. Currently, Minor wave 3 remain in progress as impulse structure, in which the lesser degree cycles showing the sub-division of 5 wave structure in each leg higher thus favored it to be an impulse structure.
The rally to 113.12 high ended lesser degree Minutte wave (iii). A pullback to 112.55 low ended Minutte wave (iv). Then a move to 114.05 high ended 5 waves rally in Minutte wave (v) & also completed Minute wave ((iii)). Down from there a pullback to 113.49 low ended Minute wave ((iv)). Near-term Minute wave ((v)) of 3 remain in progress looking to extend higher 1 more push towards 115.01-116.24 area higher. Afterwards, the pair is expected to do a Minor wave 4 pullback in 3, 7 or 11 swings before further upside towards 118.24-120.30 area is seen. The right side tag is up therefore selling is not recommended. And expect buyers to appear in 3, 7 or 11 swings.
USDJPY 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

Apple Nesting Higher As Elliott Wave Impulse Structure
Apple ticker symbol: $AAPL short-term Elliott wave view suggests that the decline to $215.31 low ended intermediate wave (4) pullback. Above from there, the stock is nesting higher within wave intermediate wave (5) looking for more upside extension. The internals of intermediate wave (5) is unfolding as impulse structure with the sub-division of 5 waves rally in each leg higher. When Minor wave 1, 3 & 5 are expected to unfold in 5 waves structure in lesser degree cycles.
Up from $215.31 low, the initial rally to $222.28 high ended Minor wave 1 in 5 waves. A pullback to $216.51 low ended Minor wave 2. Above from there, a rally to $233.47 high ended Minor wave 3 higher with another 5 waves structure in lesser degree cycles. Where Minute wave ((i)) of 3 ended at $221.59 high. Minute wave ((ii)) of 3 ended at $219.25 low. Minute wave ((iii)) of 3 ended at $229.42 high. Then Minute wave ((iv)) of 3 ended at $225.67 low. Finally a rally to $233.47 high ended Minute wave ((v)) of 3.
Down from there, Minor wave 4 pullback is proposed complete at $226.73 low as double three, after reaching the blue box area at $228.63-$226.34 100%-161.8% Fibonacci extension area of a Minute wave ((w))-((x). Near-term, while dips remain above $226.73 low and more importantly the pivot from $215.31 low stays intact expect Apple to resume the next leg higher in Minor wave 5 of (5). We don’t like selling it and prefer more upside against $215.31 low.
Apple 1 Hour Elliott Wave Chart

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Attached Image (click to enlarge)

Prospect of Brexit Deal Supports Poundsterling

The UK is going to leave the EU on 29 March 2019. However, currently the EU and UK have not reached agreement on the Irish border issue. In the last few years, the potential for no Brexit deal has given pressure to Poundsterling. But last week, Poundsterling surged higher against other major currencies as EU’s Donald Tusk signaled that a special deal – Canada +++ is still on the table. This special deal may give both parties the flexibility to settle the Irish border issue.
Talks out of Brussels have also turned more conciliatory. EU officials gave an upbeat assessment of the progress in the negotiations. In recent interview with Austrian press, the head of European Commission Jean-Claude Juncker said that the chance of a Brexit deal between the UK and EU has grown. Mr. Junker expressed confidence that a deal can be reached by November. Both sides had originally hoped to finalise the divorce agreement by the October summit. Once both sides reach an agreement, it will go to U.K Parliament for approval. Poundsterling continues to move higher steadily against other currencies due to this positive development.

GBPAUD Short Term Elliottwave View

GBPAUD last week broke above 9/18/2018 peak (1.84), and more importantly also broke above 3/28/2018 peak (1.8508), opening up a bullish sequence from 10/7/2016 low. The rally from 9/22/2018 low (1.7916) also looks impulsive, as above chart shows, favoring further upside. While dips in the pair continue to stay above 1.7916 in the first degree, expect pair to extend higher. With trade war between U.S. and China putting pressure in Australian Dollar, and the prospect of successful Brexit deal in coming months, we expect GBPAUD cross to continue to move higher.
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CADCHF : Possible Impulse Wave Pattern?

CADCHF Technical Analysis October 8/2018
CADCHF BUY/LONG Trade Setup: September 6/2018 CADCHF found a bottom and bounced higher. The bounce higher is possibly forming a bullish Elliott Wave Impulse Pattern. The current possible wave count higher can now be seen as wave ((iii)) terminating at the October 3/2018 high and is now correcting lower to find a termination of wave ((iv)). If indeed this is a possible Elliott Wave Impulse Wave expect wave ((iv)) to terminate then followed buy another rally higher to extend the wave 3. If looking to trade CADCHF, traders will need to watch and wait for price to enter the BUY ZONE at the 0.7640-0.7590 area where the wave ((iv)) can possibly terminate. In this area watch for any possible reversal BUY signals. Another pattern to watch for is the break above the bullish Flag Pattern. Break above the Flag Pattern will signal CADCHF will extend higher above the wave ((iii)) peak. Traders will also need to watch if CADCHF corrects deeper to the impulse wave invalidation area. A move to this area will make bulls think twice that this is in fact an impulse wave pattern. For now we remain bullish CADCHF and we expect the pair to extend higher so traders should look for any buying opportunities in the BUY ZONE. Trade safe and always use proper money/risk management.
CADCHF 30 Minute Chart 10.8.2018

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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Tesla Elliott Wave View: Favoring More Downside To Proceed
Tesla ticker symbol: $TSLA short-term Elliott wave view suggests that the rally to $317.51 high ended intermediate wave (X) bounce. The internals of that bounce unfolded as zigzag structure where Minor wave A ended in 5 waves at $302.64 high. Down from there, Minor wave B pullback ended as a Flat at $260.56 where lesser degree Minute wave ((a)) ended in swings at $275.50. Minute wave ((b)) ended in 3 swings at $315 high. And Minute wave ((c)) ended 5 waves decline at $260.56 low.
Up from $260.56 low, a rally to $317.51 high in 5 waves ended Minor wave C & also the intermediate wave (X). Down from there, Tesla has made a new low below 9/07/2018 low ($252.25) confirming the next extension lower in intermediate wave (Y) lower. Where initial decline to $249 low ended 5 waves in Minute wave ((a)) of a possible Zigzag structure. Above from there, the stock is doing a bounce in Minute wave ((b)) in 3, 7 or 11 swings. Near-term, while bounces fail below $317.51 high expect stock to fail for more downside. We don’t like buying it as the right side is lower & calling more downside against $317.51 high.
Tesla 1 Hour Elliott Wave Chart

AUDUSD Bearish Sequence Support More Downside
AUDUSD short-term Elliott wave view suggests that the bounce to 0.7316 high ended intermediate wave (X). Down from there, intermediate wave (Y) remain in progress as a zigzag structure. Where initial decline to 0.7049 low ended in 5 waves impulse structure & also completed the Minor wave A lower. Also, it’s important to note that the pair is having a bearish sequence tag & right side lower, therefore, buying is not recommended.
The lesser degree cycles within Minor wave A ended Minute wave ((i)) at 0.7201. A bounce to 0.7240 high ended Minute wave ((ii)). Then a decline to 0.7051 low ended 5 waves in Minute wave ((iii)). Above from there, the bounce to 0.7086 high ended Minute wave ((iv)). Then finally, a push lower to 0.7049 low ended Minute wave ((v)) & also completed Minor wave B. Up from there, Minor wave B bounce remains in progress as double three structure before decline resumes. We expect sellers to appear in 3, 7 or 11 swings within wave B bounce against 0.7316 pivot.
AUDUSD 1 Hour Elliott Wave Chart

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Attached Image (click to enlarge)

DAX Bearish Sequence Calling For More Downside
DAX short-term Elliott wave view suggests that the decline to 11865.47 low ended intermediate wave (W). Up from there, the bounce to 12460.67 high ended intermediate wave (X). The internals of that bounce unfolded as a zigzag structure where Minor wave A ended at 12184.41 high in lesser degree 5 waves. A pullback to 12064.41 low ended Minor wave B in 3 swings. While a rally to 12460.67 ended Minor wave C in another 5 waves in lesser degree cycle & also completed intermediate wave (X) bounce.
Down from there, the index has made a new low below 9/11 low (11865.47) confirming the next extension lower taking place. The initial decline from 12460.67 high is unfolding in 5 waves impulse structure where Minute wave ((i)) ended at 12174.69 low. A bounce to 12348.86 high ended Minute wave ((ii)). Then a decline to 11803.19 low ended Minute wave ((iii)). Minute wave ((iv)) bounce ended at 11998.64 high.
Currently, Minute wave ((v)) remain in progress looking to extend lower 1 more time towards 11594.07-11498.45 0.618-0.764% Fibonacci extension area of a Minute wave ((i)) + ((iii)) to complete Minor wave A of a possible zigzag structure. Afterwards, the index is expected to do a Minor wave B bounce in 3, 7 or 11 swings before further downside is seen. We expect sellers to appear in 3, 7 or 11 swings against 12460.67 high.
DAX 1 Hour Elliott Wave Chart

EURAUD Forecasting The Rally & Buying The Dips

Hello fellow traders. Another trading opportunity we have had lately is EURAUD. In this technical blog we’re going to take a quick look at the Elliott Wave charts of EURAUD published in members area of the website. As our members know, EURAUD has incomplete bullish sequences. Break of March 28th peak has made cycle from the Februay 2017 (1.3593) low incomplete to the upside, suggesting the pair is now bullish against the 1.5569 low. Consequently, we advised our members to avoid selling it and keep on buying the dips in the sequences of 3,7,or 11 swings. In further text we’re going to explain the forecast and trading setup.
EURAUD 1 Hour Elliott Wave Analysis 9.19.2018
Current view suggests the price is still doing pull back , correcting the cycle from the 1.5569 low. Pull back seems to be unfolding as Elliott Wave Zig-Zag Pattern , labeled as ABC red. As far as the price holds pivot at B red peak, the pair has chance to reach 1.61079-1.5969 ( buying zone). We do not recommend selling the pair against the main bullish trend. Strategy is waiting for price to reach the proposed buying zone (blue box) before opening long positions there. From that blue box we expect to get either further rally or 3 wave pull back alternatively. Stop Loss of the trade is break below 1.618 Fibonacci extension (.1.5969)


EURAUD 4 Hour Elliott Wave Analysis 10.2.2018
The price reached buying zone at 1.61079-1.5969 found buyers and we got turn higher as expected. However sellers managed to break last low, and our longs have been stopped out at BE. Now the pair is showing incomplete structure from the peak, suggesting we’re still in pull back agianst the 1.5569 low. Pull back is missing a swing toward 1.59473 area where we would like to be buyers again. Although we expect another leg down to complete incomplete sequences, we don’t recommend selling against the main bullish trend. Strategy is buyin the dips at extremes if gets reached.

EURAUD 1 Hour Elliott Wave Analysis 10.8.2018
Unfortunately pull back the pair has failed to give us last swing down, and left us without the trade. Now we’re callin wave (4) blue pull back completed 1.5984. Currently the pair is correcting the short term cycle from the 1.5984 low. Now, we would like to see break above 09/11 peak to get confirmation that next leg higher is in progress. Until we get that break, buying short term dips against the 1.5984 can be risky.
Note: Market is dynamic and presented view could have changed in the mean time. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.

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 now and 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.
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SPX Another Selling Can Enter Index Into Buying Area?
SPX short-term Elliott wave view suggests that a rally to $2941.42 high ended primary wave ((2)) bounce. Down from there, primary wave ((C)) remain in progress as impulse structure. Where initial decline to $2912.63 low ended Minute wave ((i)). A bounce to $2939.86 high ended Minute wave ((ii)). A decline to $2883.92 low ended Minute wave ((iii)), Minute wave ((iv)) ended at $2909.64.
Minute wave ((v)) ended at $2869.29 low, which also completed Minor Minor wave 1. Up from there a bounce to $2894.83 high ended Minor wave 2 as a Flat structure. Where lesser degree Minute wave ((a)) ended at $2890.42, Minute wave ((b)) ended at $2862.08 and Minute wave ((c)) ended at $2894.83. Down from there, Minor wave 3 ended in lesser degree 5 waves at $2745.46. A bounce to $2784.11 high ended Minor wave 4 recovery.
Currently, Minor wave 5 remain in progress looking to extend lower 1 more push towards $2711.82-$2667.16 100%-161.8% Fibonacci extension area of a Minor 5=1 target area to end intermediate wave (1) in 5 waves. Afterwards, the index is expected to do a bounce in intermediate wave (2) to correct the cycle from $2941.42 high in 3, 7 or 11 swings before turning lower 1 more time entering into another possible long side at $2584.87-$2363.19 area approximately. We don’t like selling it.
SPX 1 Hour Elliott Wave Chart

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Attached Image (click to enlarge)

Another Leg Lower Can Enter OIL Into Buying Area?
OIL ticker symbol $CL_F short-term Elliott wave view suggests that a rally to 76.89 high ended the cycle from 8/15/2018 low in intermediate wave (1). The internals of that rally higher unfolded in a corrective structure thus suggests the instrument can be doing ending diagonal structure in primary wave ((5)) higher. Down from there, intermediate wave (2) pullback remain in progress in 3, 7 or 11 swings to correct 8/15 cycle before upside renew.
Below from 76.89 high, the OIL declined lower in 3 swings & ended Minor wave W at 70.50 low, after reaching the blue box area at 71.49-69.18 area. The internals of that decline unfolded as a zigzag structure where Minute wave ((a)) ended in 5 waves at 73.08. A bounce to 75.25 high ended Minute wave ((b)) and Minute wave ((c)) completed at 70.50 low. Up from there, Minor wave X remain in progress to correct the cycle from 76.89 high as double three before another leg lower in Minor wave Y of (2) is seen. We don’t like selling the instrument and expect buyers to appear later on when it reaches the 100%-123.6% Fibonacci extension area of Minor wave W-X.
OIL 1 Hour Elliott Wave Chart

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Attached Image (click to enlarge)

Facebook Elliott Wave View: Found Sellers in Blue Box Area

In this blog, I want to share some short-term Elliott Wave charts of the Facebook stockwhich we presented to our members in the past. Below, you see the 1-hour updated chart presented to our clients on the 09/27/18 indicating that FB ended the cycle from 8/07/2018 peak low in black wave ((1)).
The internals of that move lower unfolded in 5 waves impulse structure with lesser degree cycles. Above from there, we advised members that it should see the equal legs from 8/07/2018 peak towards the areas of the 100 – 1.618 Fibonacci extension of blue (A)-(B). Which came at around 169.15-174.74 where black wave ((2)) should end. Therefore, we expected sellers to appear in the dips in the sequences of 3, 7 or 11 swings. And that was the first area for sellers to appear to take prices to new lows below black wave ((1)) peak or a larger 3 waves pullback at least.
Facebook 09.27.2018 1 Hour Chart Elliott Wave Analysis


In the last Elliott Wave chart, you can see that FB reached the blue box area (169.15+ areas) and pulled back lower and took price below black wave ((1)) low. Confirming that the next extension lower has started. So if traded our blue box area shown in the chart above. Any trades from that area were risk-free, which means the stop-loss should be moved to breakeven, targeting lower levels. Do please keep in mind that the 1-hour chart which I presented have changed already. The blue boxes you see in our charts are our so-called High-Frequency boxes. Where the market ideally shows us a reaction either lower or higher.
If you are interested in how to trade our blue box areas and want to understand how Elliott Wave works. Then I recommend you to get a shot on our special promotion which we are currently running below.
Facebook 10.10.2018 1 Hour Chart Elliott Wave Analysis


I hope you liked this blog and I wish you all good trades and if you are interested in learning more about our unique blue box areas and also want to trade profitably then sign up for our Promotion and get 30% Discount on Gold and Platinum plans!!
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.

AUDUSD: Bearish Sequence Called The Decline

Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of AUDUSD published in members area of the website. As our members know, AUDUSD has incomplete bearish sequences in the cycle from the January 2018 peak. Price structure suggests that the pair is targeting 0.6938 area as far as 0.7382 pivot holds in 1st degree. Consequently, we advised our members to avoid buying it and keep on selling the rallies in the sequences of 3,7,or 11 swings.
AUDUSD 4 Hour Elliott Wave Analysis 9.19.2018
As we can see on the 4 Hour Chart , the pair is bearish against the 0.7382 peak in first degree. Once proposed recovery completes, we should ideally get further weakness. Current view suggests the price is still doing short term recovery , correcting the cycle from the 0.7382 peak. Proposed correction is unfolding as ((a))((b))((c)) ZIG-ZAG Pattern, when we’re still in ((c)) leg.

Let’s take a look at the short term charts, to see how we found reversal area.
AUDUSD 1 Hour Elliott Wave Analysis 9.19.2018
The pair is doing wave B red recovery. Price stracture of proposed recovery is looking incomplete at this stage, suggesting we should ideally get more strength toward 0.7287-0.73227 area ideally. We got proposed blue box ( selling zone) by measuring equal legs ((a)) related to ((b)).
Once the pair reaches proposed blue box, we would like to be sellers there. As the main trend is bearish, we expect sellers to pull the price lower toward new lows or in 3 wave pull back at least. Strategy remains selling the rallies at 0.7287-0.73227 area if get chance. Invalidation for the short trade is break of 1.618 fibonacci extension : 0.72788 . As soon as the price reaches 50 Fibs against the ((b)) black low, we should make our short positions risk free.

AUDUSD 1 Hour Elliott Wave Analysis 9.19.2018
Eventualy AUDUSD reached propoposed blue box and made decline from there. Recovery has ended at 0.7316 peak and now we are getting recovery agianst that high. Looks like recovery is unfolding as triple three pattern.
Keep in mind marked is very dynamic and proposed view could have ended in the mean time. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.

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 now and 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.
Welcome to Elliott Wave Forecast !

EURUSD Elliott Wave: Ready For Next Leg Higher
EURUSD short-term Elliott wave view suggests that the decline to 1.1427 low ended cycle degree wave II pullback. The internals of that pullback unfolded as a Flat structure which ended the correction against 8/15/2018 low. Up from 1.1427 low, the pair is expected to resume the next leg higher in cycle degree wave III. The internals of wave III is expected to nest higher as impulse structure for further upside. Up from there, the initial rally to 1.1610 high intermediate wave (1) in 5 waves structure.
Where lesser degree Minor wave 1 ended at 1.1515, Minor wave 2 ended at 1.1479 low. A rally to 1.1572 high ended Minor wave 3. A pullback to 1.1540 low ended Minor wave 4. Then finally a rally to 1.1610 high ended Minor wave 5 & also completed intermediate wave (1). Currently, the correction against 1.1427 low remains in progress as a Flat structure where Minor wave A ended at 1.1534 low. Then a rally to 1.1621 high ended Minor wave B bounce and Minor wave C looking to end 5 waves structure somewhere between 100%-161.8% Fibonacci extension area of Minor A-B at 1.1545-1.1497 area. Afterwards, pair is expected to resume the next leg higher in intermediate wave (3) higher. We don’t like selling it.
EURUSD 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

IBEX Elliott Wave Calling Rally To Fail For Further Downside
IBEX short-term Elliott wave view suggests that a rally to 9668.31 high ended intermediate wave (X) bounce. Down from there, the index made a declined in 5 waves impulse structure. And ended Minor wave A of a zigzag structure at 8850.20 low. Where the lesser degree Minute wave ((i)) ended at 9471.20 low. Up from there, a bounce to 9542.80 high ended Minute wave ((ii)) as a Flat structure. Below from there, a decline to 8971.30 low ended extended Minute wave ((iii) in lesser degree 5 waves. A bounce to 9120.80 high ended Minute wave ((iv)). Finally, a decline to 8850.20 low ended Minute wave ((v)) & also completed the Minor wave A.
Currently, index is doing a Minor wave B bounce to correct the cycle from 9668.31 high in 3, 7 or 11 swings before decline resume. Where initial bounce to 9139.60 high ended Minute wave ((a)) of a possible zigzag correction and Minute wave ((b)) ended at 8967.20 low. Near-term focus remains towards 9256.55-9435.80 100%-161.8% Fibonacci extension area to end the Minute wave ((c)) of B. Afterwards, the index is expected to resume lower in Minor wave C of (Y) or should react lower in 3 swings at least. We don’t like buying it as the right side stamp is lower & calling more downside against 9668.31 high.
IBEX 1 Hour Elliott Wave Chart

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Attached Image (click to enlarge)

AAPL Elliott Wave View: Ready For Next Leg Lower
AAPL short-term Elliott wave view suggests that a rally to $233.53 high ended supercycle degree wave (III) as an impulse. Down from there, supercycle degree wave (IV) remains in progress as double three structure. Where the initial decline to $212 low ended cycle degree wave w. The internals of that leg lower unfolded as a Zigzag structure where primary wave ((A)) ended in 5 waves at $220.20 low. Up from there a bounce to $227.48 high ended primary wave ((B)) bounce. Then finally a decline to $212 low ended primary wave ((C)) in another 5 waves & also completed cycle degree wave w.
Up from there, the stock corrected the cycle from $233.53 high in wave x bounce. The internals of that bounce unfolded as lesser degree double three structure. Where primary wave ((W)) ended at $222.25 high as zigzag structure. Then a pullback to $216.82 low ended primary wave ((X)) as a Flat structure. Above from there, a rally to $223.93 high ended primary wave ((C)) as a Flat & also completed cycle degree wave x. Currently, cycle degree wave y remain in progress as a Zigzag structure where primary wave ((A)) ended at $213 low. And while primary wave ((B)) bounce fails below $223.93 high and more importantly below $233.53 high expect AAPL to extend lower 1 more time towards $202.52-$189.25 100%-161.8% Fibonacci extension area of cycle degree w-x before upside renew or stock does a 3 wave bounce at least. We don’t like selling it.
AAPL 1 Hour Elliott Wave Chart

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Attached Image (click to enlarge)

CHK Elliott Wave View: Found Buyers in Blue Box and Rallied

Hello fellow traders. Today, I want to share some Elliott Wave charts of the CHK stockwhich we presented to our members in the past. Below, you see the 4-hour updated chart presented to our clients on the 09/09/18. showing that CHK ended the cycle from 02/09/18 low (2.52) at the peak of 07/10/18 (5.59)
Below from there, we advised members that it should see the equal legs from 07/10/2018 peak towards the areas of the 100 – 1.618 Fibonacci extension of red wave W-X. Which came at around 3.85-3.55. Therefore, we expected buyers to appear in the sequences of 3, 7 or 11 swings. And that was the first area for buyers to appear to take prices to new high above 07/10/18 (5.59) peak. Or a larger 3 waves bounce at least.
CHK 09.09.2018 4 Hour Chart Elliott Wave Analysis


In the last Elliott Wave chart, you can see that CHK reached the blue box area (3.85-3.55 areas) and showed a nice impulsive reaction higher. Due to the right side tag. We advised members to buy the blue box. And if traded our blue box. Any trades from that area have been risk-free, which means the stop-loss was moved to breakeven, targeting higher levels. Do please keep in mind that the 4-hour chart which I presented might have changed already. The blue boxes you see in our charts are our so-called High-Frequency boxes. Where the market ideally shows us a reaction either lower or higher.
If you are interested in how to trade our blue box areas and want to understand how Elliott Wave works. Then I recommend you to get a shot on our special promotion which we are currently running below.
CHK 10.04.2018 4 Hour Chart Elliott Wave Analysis


I hope you liked this blog and I wish you all good trades and if you are interested in learning more about our unique blue box areas and also want to trade profitably then sign up for our Promotion and get 30% Discount on Gold and Platinum plans!!
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.

EURAUD Found Buyers After Elliott Wave Flat Pattern

Hello fellow traders. In this technical blog we’re going to talk about EURAUD forex pair. As our members know, EURAUD has incomplete bullish sequences in February Cycle. Break of March 28th peak has made cycle from the Februay 2017 (1.3593) low incomplete to the upside. The pair is now bullish against the 1.5569 low. Consequently, we advised our members to avoid selling the pair , favoring the long side. Recently the pair has found buyers after completing Elliott Wave Expanded Flat Pattern.In further text we’re going to explain the forecast and Elliott Wave Pattern.
Before we take a look at the real market expample of Expanded Flat, let’s explain the pattern in a few words.
Elliott Wave Expanded Flat is a 3 wave 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. Waves A and B have forms of corrective structures like zigzag, flat, double three or triple three. Third wave C is always 5 waves structure, either motive impulse or ending diagonal pattern. It’s important to notice that in Expanded Flat Pattern wave B completes above the start point of wave A, and wave C ends below the ending point of wave A which makes it Expanded. Wave C of expanded 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 what Expanded Flat structure looks like.


Now, let’s take a look at real market example and see what that pattern looks like.
EURAUD 1 Hour Elliott Wave Analysis 10.19.2018
As we can see on the chart below EURAUD has made price structure that is characteristic for bullish Expanded Flat. Wave ((b)) completed above the start point of wave ((a)), and wave ((c)) ended below the ending point of wave A. We’re already at the extremes area: ((a))-((b)) equal legs and buyers can appear anny moment.
Note: blue box marked on the chart is short term equal legs from the 10/11 peak, wave (i) blue related to (ii) blue, that comes at 1.61008-1.59859. Traders who wants to buy the pair, can use 1.618 FIb extension : 1.59859 as invalidation level. Current view suggests wave (v) of ((c)) of flat might be still in progress and give us more short term weakness .
As we keep saying Flat patterns can get tricky to trade, as sometimes get too extended , when 1.618 fib extension becomes less reliable. Anyway, best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.

EURAUD 1 Hour Elliott Wave Analysis 10.22.2018
Eventually the pair has found buyers at the blue box :1.61008-1.59859. We got nice reaction from that area. As far as the price holds above 1.60409 low, we call pull back completed as Expanded Flat. Now, we would like to see further sepparation from the mentioned low. We need to get break above 10//11 peak ideally to confirm next leg up is in progress.

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 now and 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.
Welcome to Elliott Wave Forecast !

BAC Elliott Wave View: Started The Next Leg Lower
Bank of America Corporation ticker symbol: BAC short-term Elliott wave view suggests that a decline from 8/08/2018 high to $27.64 low ended intermediate wave (W). The internals of that decline unfolded in 3 swings with the distribution of 5-3-5 zigzag structure. Up from there, a bounce to $29.20 high ended the short-term correction against 8/08/2018 high in intermediate wave (X) as double three structure. Where Minor wave W ended in 3 swings at $28.58. Minor wave X pullback ended at 28.16 low and Minor wave Y ended at $29.20 high.
Down from there, intermediate wave (Y) remains in progress and a break below $27.64 last weeks low confirming the next extension lower. Down from $29.20 high, the lesser degree Minute wave ((i)) ended in 5 waves at $27.97. Minute wave ((ii)) bounce ended at $28.52 and Minute wave ((iii)) remain in progress looking to extend lower 1 more time. Afterwards, BAC is expected to do a Minute wave ((iv)) bounce before further downside in Minute wave ((v)) is seen to complete Minor wave A of a possible zigzag structure. We don’t like buying the stock and prefer more downside against $29.20 high.
BAC 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Attached Image (click to enlarge)

Will Jamal Khashoggi’s Incident drive up Oil Price?
In the past few weeks, the world has been shocked by the killing of Jamal Khashoggi inside Saudi Arabia’s consulate in Istanbul. Mr. Khashoggi is a Washington Post journalist and he was at the consulate for marriage-related document. Initially, the Saudi’s government said Mr. Khashoggi left the consulate alive. However, they changed their narrative on the weekend and admitted that Mr. Khashoggi was dead. The official explanation is that he died in an altercation.

The explanation contradicts the leak by Turkish officials which paints a grisly detail of the murder. The media reported that 15 Saudi hit squad flew to Turkey and ambushed Jamal Khashoggi inside the Saudi Arabia’s consulate. They then dismembered his body with bone saw and flew back to their home country at the same day. Turkish officials identify these people as high-ranking officials with close ties to MBS (Mohammad Bin Salman), Saudi Arabia’s crown prince.
This week we will be waiting for the world’s response to this explanation by Saudi Arabia. Last week, the Riyadh government issues a warning emphasizing Saudi’s important role in the global economy and that “any action would be met with greater action.” Saudi State media also responded “If the price of oil reaching $80 angered President Trump, no one should rule out the price jumping to $100, or $200, or even double that figure.”
President Trump initial response was to say that the explanation is a great first step. He also stressed that Saudi Arabia is an ally and he didn’t want to unravel the arms deals. He has also floated the idea of a “rogue army” and the crown prince didn’t know about the killing. US Senators however is much more skeptical, as seen from their reaction in twitter below:

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The contrast between the President’s conciliatory reaction and the US Senators from both parties foreshadows difficult debate in coming days. It remains to be seen what sort of reaction comes from the US and the world this week and whether Saudi Arabia retaliates and follows up on their threats of using oil as a weapon. What looks clear is that the rapidly developing geopolitical risk in Saudi Arabia has the potential to have profound impact to Crude Oil’s price.
Long Term Elliott Wave Outlook for Crude Oil

Weekly Chart of Oil above suggests that the rally from February 2016 low looks to be unfolding as a 5 waves impulse with a nest. The rally from proposed wave ((2)) low at $42.05 on 6/21/2017 low looks extended with more than 161.8% Fibonacci Extension relative to wave ((1)). This suggests that even if Oil has made medium term top, it’s likely ending only either wave ((3)) or III with further upside in the longer term. Thus, as far as near-term / medium-term pullback stays above $39.55, long-term Oil can extend higher again.
Short Term Elliott Wave Outlook for Crude Oil

Short term / Medium term outlook for Crude Oil price shows a 5 swing sequence from 10.3.2018 high. This favors further downside in the short/medium term cycle despite the long term bullish outlook. There are two possibilities with the current structure. If the move lower is taking the form of a double three (WXY) structure, then bounce should fail below swing #4 at $72.68 and extends lower to $64.8 – $66.3 area. Another possibility is the move lower is taking the form of 5 waves impulse, in which case Oil can end wave A. Rally in wave B then should correct cycle from 10.3.2018 high and fail below there for more downside.
Conclusion
Geopolitical risk in Saudi Arabia is rising and it can drive up Crude Oil’s price. Depending on the outcome of the next few weeks, tension between Saudi Arabia and the rest of the world can escalate, resulting in economic sanctions and retaliation. With Saudi Arabia’s role as the world’s top producer in Oil and the de-facto head of OPEC, any escalation could cause Oil’s price to spike. The Elliott Wave analysis in Oil suggests a longer term bullish view. However, short-term / medium-term view suggests possible further downside correction.
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Trading with Elliott Wave and How Your Next Best Trade May Be the One That You Don’t Take

It’s Just Hard for Us to Be Still.
The very essence of trading is assertive actions to create alpha. Sometimes, though, the hardest thing to do as a trader is nothing at all. I can definitely speak from personal experience during my trading career that I felt like there were times that I had to trade. Whether it was the urgency to make a certain % or nominal $ gain for a specific measured amount of time in hopes of attracting outside capital or simply to pay the bills back when I first started putting my own small amount of capital at high risk, most of those periods of self-forced highly active trading led to less than desirable results. Trading just to trade with no sound system or methodology is a recipe for disaster in the world of the markets. I read a lot about successful traders and I’m always comparing their beginnings to where they are now or where they were at the pinnacle of their success. Most will tell you one of the worst things that happened to them was they made a lot of money right out the gates and really couldn’t explain how, why, or what attributed to such success.
Can Winning in the Beginning Be a Bad Thing?
You may be scratching your head right now asking, “Why would being so successful at the beginning be such a detriment?” Well it’s not, in itself, a detriment. In fact I believe it’s great and what America was truly founded upon. Taking risks in hopes of a better life. Putting your money where your mouth is, so to speak. So this blog isn’t to bash success, capitalism, etc. as I’m no hater to any form of success as long as it’s legal or doesn’t impose restrictions on anyone else’s freedoms. Most traders that are highly successful early on end up giving most, if not all, of their gains right back to market because they had no system that was replicable. They seemed to approach every trading session going on unsubstantiated tips, the opinion of the financial media talking heads, or just because they felt a certain way about any particular instrument. I get it, I’ve been there too. In the beginning everything seemed to work and hardly any trade was a loser. But, I really couldn’t explain why I did what I did with any degree of intelligence be it technical or fundamental reasoning. So, of course, over time I ended up losing a decent amount of money. Looking back now some 15 years later I can honestly state that was probably the most valuable education (including college) that I’ve ever had to go through with regards to not only trading, but life in general.
What I Learned From Some of My Failures and Times of Inconsistent Profitability.
I learned that you have to put the time into anything if you truly want to be successful. And just like we all would just love to hit the next Billion (with a B!) dollar MegaMillions jackpot and call it a wrap, we want it to be easy. Entering the world of trading basically means you’re in the fortune telling business. Think about that…predicting the future. I’m not trying to talk you out of trading so let’s get back to how I fixed my trading self. Luckily, one of my first trading partners introduced me to the principle of the Elliott wave. So, long story very short, I learned all the ins and outs to the last degree by reading/watching/listening to everything I could get my hands on about the wave principle. I spent money on subscriptions to various professional services, videos, and the sort and then went on to live trading practical application. And, that’s where the story ends. My life was forever changed and I went on to be the most successful trader in history…Well, that’s what I thought would happen. While all the resources I investigated taught me something, they didn’t teach me how to apply the wave principle properly basically due to the highly subjective nature of counting Elliott waves.
Why We Need More Than Pure Elliott Wave.
Back in my beginnings as an Elliott wave trader there were always the elusive alternate (or multiple alternate) count(s) that seemed to confuse rather than provide any actionable analysis. Now, I’m not blaming them (the educational providers) for my inconsistencies with profitability using the wave principle as the sole reason to enter, exit, or not trade at all. Back in the day we simply traded the 3 waves back after 5 waves up or vice-versa no matter the direction because we knew (read “thought” here) our wave count was unshakeable. And, we won some and lost some here and there. The bottom line is it just wasn’t consistent enough to solely rely on the interpretation of any wave count be it a primary count or its alternative. What I’m truly saying is none of these services provided a solid mentality of using cycles and sequences to put money at risk with consistent documented results, so we developed one. Now don’t get me wrong I love the Elliott Wave Principle. I believe there are no other market analytical languages out there that compare and here at Elliottwave-Forecast.com (EWF) we use Elliott analysis no doubt, but it isn’t the end all be all.

What Helps Your Elliott Wave Based Trading?
If your trading is struggling I sincerely believe what could really change your trading are our methods of sequence and cycle determination coupled with the new applications we use within the Elliott wave analysis. I can tell you from personal application that it has dramatically decreased the frequency of my trading yet increased the profitability of my trading. Otherwise stated the service EWF provides gives a set methodology of parameters of when to trade, how much to risk, where you are wrong, where to take profit, and a thorough description of why we see what we see and why we’re doing what we’re doing with no after-the-fact cherry-picked analysis to try and “sell” something that isn’t real. Our service was started to help traders make better decisions and be confident when placing hard-earned money as risk, even when that means learning when to NOT take a trade. To take a test drive of our service click here and I hope to see you in the live sessions we provide every trading day.
To your success,
James