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Elliott Wave View: Alibaba Ending 5 Waves Move

Elliott Wave view in Alibaba (Ticker: BABA) suggests the rally from 12/24/2018 low is unfolding as an impulse Elliott Wave structure where wave ((3)) ended at $159.49. Wave ((4)) pullback ended at $150.17 as a double three Elliott Wave structure. Down from $159.49, wave (W) of ((4)) ended at $154.20 and rally to $157.02 ended wave (X) of ((4)). Afterwards, decline to $150.17 ended wave (Y) of ((4)).

Near term, Rally from $150.17 low is currently unfolding as a 5 waves with a nest. Wave (1) of ((5)) ended at $155.18 and wave (2) of ((5)) ended at $150.51. Near term, while pullback stays above $150.17, expect Alibaba to extend higher within wave ((5)).

Alibaba still needs to break above wave ((3)) at $159.49 to confirm the wave ((5)) higher has started. Until then, it can do a double correction in wave ((4)) before the rally resumes. Alternatively, it can also already end 5 waves up from 12/24/2018 at $159.49. In that case, then the stock can start to correct cycle from 12/24/2018 low in 3, 7, or 11 swing.

It’s worth to keep in mind that in the larger time frame, we see a lower low sequence from June 5, 2018 high which technically favors more downside. In the most bearish case, Alibaba can already end the 5 waves move higher from 12/24/2018 low as internal of wave c Running Flat. In this scenario, the stock can start resuming lower again.

BABA 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Elliott Wave Analysis: NIKKEI Rallies With The Right Side

Welcome traders, today we look at a couple of 1 hour NIKKEI charts and its price action within 3 consecutive days. The following analysis will show how profitable and efficient it can be to trade with our philosophy and basic Elliott Wave analysis.
First of all, we start on January 14 where the right side of the market favored the upside. A 3 waves structure, ((A))-((B))-((C)), concluded a proposed wave ‘W’. Also, wave ‘W’ successfully reached our blue box target areas from which we always expect a reaction. The blue box target areas are derived by a 1:1 and 1:1.236 ratio of wave ((A)) projected from wave ((B)). Consequently, the reaction off of the blue box confirmed the idea of the cycle ending. The full 3 waves correction has an invalidation level of 18942 for further upside.
Under our methodology, every finished cycle that ends within our blue box target areas are followed by a corrective pullback. These corrective pullbacks should unfold in 3,7, or 11 swings before it continues its dominant trend. With this in mind, our count at the time suggested a pullback of a total of 7 swings had finished. This completed the pullback sequence and the index can resume the upside.
NIKKEI 1.14.2019 1 Hour Chart Elliott Wave Analysis

Below you will see an updated chart of the index two days after, January 16 2019. So, as expected, with a complete 7 swing pullback, the index was able to resume the dominant trend. Under our aggressive approach, our members are able to react to these situations. A combination of signals, like our invalidation level, blue box target areas, and “the right side of the market”, add up to great trading opportunities. From here, we wait, and repeat the process. Notice how we immediately provide an invalidation level and forecast the next move. We do not claim to be always right, but we do certainly have the odds on our favor.
NIKKEI 1.16.2019 1 Hour Chart Elliott Wave Analysis

*Note : Keep in mind the market is dynamic and the presented view might have changed after the post was published.
If you like what you read or if you are interested on the Elliott Wave methodology and how it can work consistently with our bullish/bearish sequence method, become a member and join our community today. Visit us at Elliott Wave Forecast and as always, new comers can always try us out for 14 days with our Trial Plan.
Trading success is a journey and you will never be perfect at it, but you can always master your reaction to the market.

Break above $1300 in Gold Forms Elliott Wave Impulse

Last Friday Gold managed to break above $1300. The yellow metal has therefore broken above 8 year bearish channel in a weekly closing basis. The break also allows the metal to close back above the ascending trend support from Nov 30, 2015 low as the chart below shows.
Gold breaks above long term bearish channel

Earlier this month, we highlighted the possibility that 2019 can be a good year for Gold. We identified several technical as well as fundamental factors which could support the yellow metal. For example, even though Gold has not done much against U.S Dollar, it has broken to all-time high against many emerging market currencies. In addition, it has also made a new all-time high against Australian Dollar earlier this year. You can read the full analysis in this article : Has the next Bull Market in Gold Started?
The break above $1300 last Friday likely paves the way for the yellow metal to retest last year’s peak at $1360. In our previous Elliott Wave technical video analysis, we said that if it breaks above $1300, the move from 8/16/2018 low ($1160.6) can become impulsive.
Gold Elliott Wave Technical Analysis from Jan 24, 2019

Last week, Gold still had a chance to continue consolidation as far as it stays below $1300. However, we explained in the video that the larger time frame expects a move higher eventually. We also explained the potential that the move from 8/16/2018 low ($1160.37) becomes impulsive if it breaks above $1300. That’s what we had last Friday and thus, we now expect Gold to continue higher as 1 hour weekend chart update below shows.
1 Hour Gold weekend Elliott Wave chart

As above chart shows, the short term Elliott Wave structure in Gold now expects the metal to continue higher as far as pullback stays above 1/21/2019 low ($1276.26) in the first degree. The entire rally from 8/16/2018 low ($1160.63) thus becomes impulsive with a nest where the yellow metal now is ending wave 5 of (3).
Gold should now retest $1360 rather quickly, which is a very significant level that has been tested multiple times. A decisive break and close above the level suggests a potential move to $1700 as the next swing target.

Keep in mind that market is dynamic and the outlook may have changed since the writing time of the article. Interested to see more? You can find more Free technical analysis on commodities from this commodity blog page. If you’d like to check our service and get a regular update on Elliott Wave charts and listen to daily live session, you can do it through this 14 days FREE Trial link.

Starbucks (NASDAQ: SBUX) – Leading The Bull Market

Starbucks (NASDAQ: SBUX) is American coffeehouse chain and it’s also the 3rd largest fast food restaurant chain by number of locations around the world. The coffee giant boosted sales by the end of the 2018 and its revenue and earnings beat expectations for the second consecutive quarter.
2018 was a red year for the stock market, as the majority of stocks suffered an average 30% – 40% by the end of the year. However SBUX managed to close the year with a positive number +11% among few other stocks in the consumer discretionary sector.
The long term technical chart for SBUX using the Elliott Wave Theory is showing a clear bullish structure. It’s doing an impulsive 5 waves move in the Super Cycle from IPO and it entered in the 5th wave territory which is the last wave to the upside before a larger correction takes place. The minimum target for the 5 wave was already reached last year at $68 which represent the measurement of wave ((I)) = to wave ((V)) but the extended measured target 61.8% of a combined wave ((1))+((3)) comes at $87 isn’t yet met.
Starbucks SBUX Monthly Chart

Last year, SBUX provided a good buying opportunity during its wave ((IV)) pullback as the stock did a 7 swing correction (Double Three). It reached the measured target at the blue box area $49.6 – $46.7 from where it resumed the rally to new all time highs with the recent peak in November 2018. Therefore, the stock is expected to remain bullish as long it remain above June 2018 low $47.37.
In the short term, the stock will have 2 possible paths to take place: The aggressive bullish scenario at this stage is having wave II in place as the stock already did 3 swing pullback into blue box area $62.64 – $59.83 and it already started the move higher in wave III with a target to the upside at $81 – $95 area. The second scenario suggest that while the current bounce fail below November peak $68.9 then wave II is still in progress and it can do the double correction lower into 50% area $58 before buyers show up again to resume the rally or bounce in 3 waves at least.
Consequently, the technical picture for Starbucks remain bullish as the stock is aiming for new all time highs and leading the move higher along side few other stock against 2018 low.
Starbucks SBUX Daily Chart


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Elliott Wave View Expects Tesla Rally to Fail

Elliott Wave view in Tesla (Ticker: TSLA) suggests the rally to $352.09 ended wave ((2)). This suggests the stock is in an impulsive Elliott Wave structure to the downside. Wave ((3)) is in progress and the subdivision unfolded also as a 5 waves Elliott Wave impulse of lesser degree. Down from $352.09, wave 1 ended at $343.8 and wave 2 ended at $351.5. Wave 3 ended at $281.69, wave 4 ended at $290.61, and wave 5 of ended at $279.28.

The entire move lower from $352.09 to $279.28 ended wave (1) of ((3)). Tesla is now correcting the decline from $352.09 in wave (2). The correction looks to be unfolding as a double three Elliott Wave structure. Up from $279.28, wave W ended at $298.52 and wave X ended at $287.75. The stock has scope to extend higher towards $307.16 – $319.21 area to end wave Y of (2). Afterwards, it should extend to the next leg lower or at least pullback in 3 waves. As far as pivot at $352.09 stays intact during the correction, we expect the rally in Tesla to fail and the stock to extend to the downside.

Tesla 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Alibaba : Elliott Wave Running Flat Taking Place

We believe Alibaba will see more downside based on a sequence which started on 6.5.2018 high. It is showing an extra swing at 12.24.2018. This low can be counted as swing number 9 in Blue or beginning of the swing 1 Black of 3 red. The chart below shows the extra swing.

Alibaba should remain under pressure and see more downside when the cycle or structure which started at 10.30.2018 low ends. At Elliottwave-Forecast, we pay attention to the sequence and correlation across the market. We use Elliott wave to spot the structure and then take a side and forecast the higher probability outcome. We believe the Stock is doing an Elliott wave Running Flat since the low at 10.30.2018. The Flat is very clear due to the strength and nature of the reaction in 5 waves from the low at 12.24.2018. We can count the move higher a 5 waves impulse advance.
Running Flat is a structure with the following guidelines:
• A corrective 3 wave move labelled as ABC
• Subdivision of wave A and B is in 3 waves
• Internal of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
• Wave B of the 3-3-5 pattern terminates beyond the starting level of wave A as in an expanded flat
• Wave C fails travel the full distance, falling short of the level where wave A ended
• Momentum divergence should appear in wave C
The running Flat should follow this Fibonacci ratio relationship
• Wave B = 123.6% of wave A
• Wave C = 61.8% – 100% of wave AB
The following chart reflects how a running flat looks like in the Elliott Wave theory.

BABA 4 Hour Elliott Wave Analysis

The chart above is showing a clear Elliott wave structure. In finding a structure that fits the price action since the lows at 10.30.2018 and at the same time relates well with other instrument, we can conclude that a running flat is the most aggressive view. For a better understanding of Elliott Wave and how to trade using the sequence and the right side of the market, we invite you to take our 14 Day Free Trial.

$IBEX Short Term Bullish Sequence Calling The Rally

Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of IBEX, published in members area of the website. As our members know, IBEX has made recently incomplete bullish sequence in the cycle from the December 27th 2018 low. The Elliott wave structure had been calling for further upside in short term. Consequently, we advise members to avoid selling the Index until extremes from the 12.27 low gets reached. In further text we’re going to explain the Elliott wave structure and Forecast.
IBEX 1 Hour Elliott Wave Analysis 12.29.2018
As we can see on the chart below , the Index has 5 waves structure in the rally from the 12.27 low, when pull back against that low has unfolded as a Elliott Wave Running Flat– wave (B) blue. Cycle from the December’s low is labeled as Elliott Wave ZIGZAG pattern. Break of January 11th peak made the cycle from the December 27th 2018 low incomplete to the upside. The Index is now bullish against the 8753.5 low and we’re calling for further strength . The Index has scope to reach 9368.4 area before sellers appear gain. We don’t recommend selling the index at this stage and favor the long side against the 8753.5 low.

IBEX 1 Hour Elliott Wave Analysis 1.26.2019.
The price has held pivot at 8752.3 low nicely so far, and IBEX is trading higher as expected. As far as the mentioned pivot stays intact, the index can remain trading higher toward 9368.4 area, when we’re still in wave ((iii)) of C of proposed Elliottwave ZIGZAG pattern.
Keep in mind 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. You can check most recent charts in the membership area of the site.



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Elliott Wave View: Gold Should Continue Higher

Elliott Wave view in Gold suggests the pullback to $1276.64 ended wave 4. Internal of wave 4 unfolded as a zigzag Elliott Wave structure. Wave ((a)) of 4 ended at $1276, wave ((b)) of 4 ended at $1295, and wave ((c)) of 4 ended at $1276.64. Rally from there looks impulsive and expected to end wave ((i)) soon as a 5 waves impulse Elliott Wave structure. Up from $1276.64, wave (i) ended at $1286.53, wave (ii) ended at $1276.59, wave (iii) ended at 1304.41, and wave (iv) ended at $1297.40.

Expect the yellow metal to end wave (v) soon and thus end wave ((i)) of larger degree. Afterwards, it should pullback in wave ((ii)) to correct the rally from January 21 low ($1276.64) before the rally resumes. The pullback should unfold in the sequence of 3, 7, or 11 swing. As far as pivot at $1276.64 low stays intact in the pullback, expect Gold to extend higher. As an alternate, the 5 waves move higher can end wave 5 of (3) instead of wave ((i)) of 5. In this alternate scenario, Gold should pullback in wave (4) to correct cycle from September 28, 2018 low ($1180.86) before the rally resumes.. Either way, expect pullback in the yellow metal to continue finding support for more upside.

Gold 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

NZDUSD : Watch Reversal Zone for Another Move Higher
January 30, 2019 By EWF Aidan (Edit)

NZDUSD Technical Analysis January 29/2019
NZDUSD remains bullish as long as the January 22/2019 low remains untouched. If you read the article, NZDUSD : Possible Bullish Patterns, published on December 19/2018 you will already know that we are only looking to BUY/LONG kiwi dollar. If you missed that move higher then there is another opportunity to BUY the pair on the 1 hour chart where there are clear visible bullish patterns that can be seen. In the chart below, market patterns are used to determine where price can possibly reverse and bounce higher. The first bullish pattern (blue) triggers BUYS at the BC 0.50% Fib. retracement level and if NZDUSD extends lower it will be met by the second bullish pattern (pink) which triggers BUYS at the XA 0.886% Fib. retracement level. Traders should watch these two levels in the reversal zone (blue box) for a possible reaction bounce higher because there has been previous support/resistance price action in the past. Blue bullish pattern invalidates if price breaks below the point B low and the pink bullish pattern invalidates if price moves below the point X low. Traders will need to wait and watch how price reacts at the possible reversal/support zone (blue box) and see if the market reacts higher to any of these bullish patterns. If looking to trade NZDUSD stops should be placed at the point B low of the blue bullish pattern or for tighter stops at the point X low of the pink bullish pattern looking for a bounce/rally higher to extend above the January 28/2019 highs. Only time will tell what NZDUSD will do but at least now you are aware of the possible area where Kiwi can bounce from.
NZDUSD 1 Hour Chart 1.29.2019

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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Yen Strength to Channel AUDJPY Lower

Over the next few weeks Japanese Yen strength should drive prices of AUDJPY lower within a downward sloping channel. The current incomplete Elliott Wave structure also supports this expectation of further downside.
In this article we’ll explore the basics of the current wave structure and its parallel channel. This combined analysis charts a great area to look for AUDJPY to bottom in a measured area. Traders can use this projection to go long the Australian Dollar vs the Japanese Yen.
The Model of the Double-Three Elliott Wave Corrective Structure

Generic View of a Double-Three Correction
The picture above depicts a typical model of a combination corrective pattern known as a “double-three correction” labeled (W-X-Y). Double-three corrective patterns comprise of two corrective patterns in the same direction separated by one corrective pattern in the opposite direction. The first corrective pattern labels as W, the second Y. The corrective pattern in the opposite direction labels as X.
The Channeling and Measured Moves of Corrective Waves
It is often an observation and even an expectation that the corrective price action in any financial instrument will oscillate within a parallel channel. In the chart below for AUDJPY we observe this very phenomenon. These channels can also help traders target an end to the overall structure.
Another simple yet invaluable tool employed by EWF analysts to target the end of corrections involve what are known as “Measured Moves” or “Equal Legs”. These observations are nothing more than symmetrical measurements in the larger degree corrective wave labels. I.E. 1:1 measured moves between the two corrective waves that move in the same direction.
For instance, in the AUDJPY chart, look at the larger blue-highlight area at the bottom of the chart. This area simply represents the measurement of equality (1:1) between the origin of the entire correction [at the point with blue (w)] to the bottom of red wave w and projecting that measurement from the top of the red wave x. This measurement gives AUDJPY technical traders a target for the bottom of not only wave y, but the entire corrective sequence from the structure’s origin.
Weekly Bar Chart of the Channeled Double-Three Corrective Sequence for AUDJPY

AUD/JPY Downward Channel Double-Three Correction

Confidence is high that AUDJPY is headed for further swing declines in the intermediate term toward the measured level near 57.70. Shorter-term traders should look for selling opportunities to exploit this expected downside target.
Certainly the analysis above suggests positional traders prepare to go long in the blue area. This area highlights an intersection between the measurement of equality and parallel channel line bottom. Since the price action to the downside is overall corrective in nature the upside will be tremendous. Furthermore the upside target is tremendous if the 57.70 area triggers the long. The minimum objective lies above 100.00.
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Elliott Wave View Expects Exxon Mobil To Rally

Elliott Wave view in Exxon Mobil (ticker: XOM) suggests that the rally from December 26, 2018 low ($64.65) is unfolding as Elliott Wave zigzag. The first leg of the zigzag ended at $73.33 on January 18, 2019 high as wave A. A zigzag is a 5-3-5 structure and wave A should unfold in 5 waves in impulse or diagonal. We can see in the chart below that wave ((iii)) of A ended at $73, wave ((iv)) of A ended at $71.95, and wave ((v)) of A ended at $73.33.

The stock then pullback in wave B with the internal as a zigzag Elliott Wave structure as well. Down from $73.33, wave ((a)) ended at $70.64, wave ((b)) ended at $72.27, and wave ((c)) ended at $70.37. Wave C rally has started and the stock is expected to break above wave A at $73 and could see as high as $79 when wave A = C. To gain confirmation for this view, the stock still needs to break above $73. Otherwise, technically we still can’t rule out a double correction in wave B. Near term, while pullback stays above $73.33, expect Exxon Mobil to extend higher.

Exxon Mobil 1 Hour Elliott Wave Chart

Facebook Elliott Wave View: Found Buyers in Blue Box and Rallied
January 30, 2019 By EWFSanjay (Edit)
Hello fellow traders. Today, I want to share some 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 01/17/19. showing that FB has a 1H right side tag against 141.26 low.
From 01/14/19 low (141.31) Facebook ended that short-term cycle at 01/15/19 peak (150.74) in black wave ((W)). Below from there, we advised members that it should see the equal legs from 01/15/19 peak towards the areas of the 100 – 1.618 Fibonacci extension of blue wave (A)-(B) which came around 147.00-145.27 and unfolded as an Elliott Wave Flat structure. 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 01/15/19 (150.74) peak. Or a larger 3 waves reaction at least.
FB 01.17.2019 1 Hour Chart Elliott Wave Analysis


In the last Elliott Wave chart, you can see that FB reached the blue box area and extend a bit lower like forecasted. Then it 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 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 with our risk-free 14 days trial below.

Facebook 01.18.2018 1 Hour Chart Elliott Wave Analysis


I hope you enjoyed this blog. I wish you all good trades and if you interested in learning more about our unique blue box areas and also want to trade profitably. You can join for 14 days free trial. See you insight!
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Elliott Wave Analysis: Wait for the Setup and Bet on Oil
January 31, 2019 By EWFEverardo (Edit)
Welcome traders, today we will look at a couple of Oil futures (CL #F) charts. After reaching a short term top, patience leads us to a trading opportunity. See how profitable and efficient it can be to trade with basic Elliott Wave analysis and our defined blue box target areas.
First of all, we start on January 28 2019 with a 30-minute chart presented to our members. Here, we believe the market favors the downside in the near term solely based on our count. The top at $54.25, labeled as wave ‘((A))’, serves as a resistance after finishing a 5 wave move. From there, based on Elliott Wave theory, a pullback is always expected. Due to the straight down pullback, followed by 2 bounces failing to break wave ‘((A))’, it led us to believe 3 swing pullback was developing. More specifically, an (A)-(B)-(C) Elliott Wave zigzag structure forming for wave ‘((B))’.
Under our methodology, we do not take action with an unconfirmed ‘right side of the market’. This is the meaning of the black ‘TurningDown’ arrow. So, we let the market shows itself and we adapt our count to make sense of the price action. As soon as wave (B) was confirmed, we derived a 1:1 minimum target and a 1:1.618 extreme target. These targets are combined to provide a blue box target area where probabilities favor the instrument to react from it in 3 waves at least.
Oil 1.28.2019 30-Min Chart Elliott Wave Analysis

Below you will see an updated chart of oil a day after, January 29 2019. Note that the count changed but the setup remains the same. So, as expected, with a complete 7 swing pullback, oil has potentially resumed the dominant trend. If anyone happens to buy the pullback at the blue box, they already have a risk free trade. Now as far as the $51.33 invalidation level remains intact, we expect further upside. Once again, our blue box target areas showing how accurate they can be.
Oil 1.29.2019 30-Min Chart Elliott Wave Analysis

*Note : Keep in mind the market is dynamic and the presented view might have changed after the post was published.
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Elliott Wave Expects Limited Pullback in Oil

Elliott Wave view calls the rally in Oil to $54.24 ending wave ((A)). From there, the pullback ended with wave ((B)) at $51.37. Internal of wave ((B)) takes the form of a double three Elliott Wave structure. Down from$54.24, wave (W) ended at $51.80, wave (X) ended at $53.94, and wave (Y) of ((B)) ended at $51.37. From there, Oil has resumed higher and broke above wave ((A)) at $54.24. This signals that wave ((C)) has likely started.

The rally from $51.37 is proposed to take the form of a 5 waves Elliott Wave impulse. Up from $51.37, wave 1 ended at $52.24, wave 2 ended at $51.89, wave 3 ended at $54.93, and wave 4 ended at $53.92. The last move higher in wave 5 also ended wave (1) of larger degree at $55.37. Oil is now correcting the entire 5 waves rally within wave (2). The pullback takes the form of a zigzag Elliott Wave where wave A ended at $53.62 and wave B ended at $54.19.

Expect Oil to continue the pullback within wave C of (2) but the pullback should hold above $51.37 for the next leg higher. Potential area for wave (2) is $52 - $52.44 which is 100% - 123.6% Fibonacci extension of A-B. As far as pivot at $51.37, we expect Oil to resume higher. If pivot at $51.37 fails, then Oil is doing a Flat Elliott Wave structure from wave ((A)) high on January 21, 2019.

CL_F 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Zynga (NASDAQ: ZNGA) – Starting New Bullish Sequence

Zynga (NASDAQ: ZNGA) is a video game developer company focused on social mobile gaming. With popular games like FarmVille and Zynga Poker, the American publisher managed to stand out in a crowded market.
In the recent decade, the number of gamers grow in a fast pace and leading companies like Activision Blizzard (NASDAQ: ATVI) & Electronic Arts (NASDAQ: EA) are providing more creative content with better graphics. Investors turned to gaming stocks and helped to drive the market higher in the recent year. However despite the uptrend for the sector, ZNGA remained as an undervalued stock with a price below $5 with huge potential in the future.
Despite last year sell-off in EA and ATVI, ZNGA remained in a sideways range and closed 2018 for only -2%. Currently at the start of of 2019, the stock is already up +14% so with earning report coming this week we’ll take a look at its technical chart.
ZNGA Weekly Elliott Wave Chart

In the above chart, the stock made an impulsive 5 waves advance from 2016 low which ended June from last year at $4.57 peak. Then the stock corrected the entire cycle lower in a classical 3 waves zigzag structure before turning higher again. So ZNGA established a new bullish Elliott Wave trend with impulsive momentum to the upside and corrective structure to the downside.

At this stage, the stock managed to break above 2018 peak which confirmed the bullish path and it’s now presenting a new incomplete bullish sequence for the stock. The measured target to the upside start at the 100% Fibonacci ext at $6.11 which could remain a minimum target with a potential move above the 161.8% fib ext at $7.84 if the stock have enough momentum to continue as regular impulse. Consequently, the previous 2 year bullish cycle ( 2016 -> 2018 ) could be only the first wave of a bigger 5 waves move to the upside so the stock still have enough room to the outside.
Conclusion
The gaming industry outlook remains promising and Zynga is becoming one main acting hands in the market which put huge potential for its stock to rise. The technical picture for ZNGA looks bullish and it could see a strong breakout in the second quarter of 2019.
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FTSE Found Buyers In Blue Box And Rallied

Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of FTSE. FTSE was correcting the cycle from the 6530.6 low,when the pull back was unfolding as Elliott Wave FLAT pattern. We expected FTSE to trade higher due to 5 waves rally in the cycle from the December 27th 2018 low. In addition, we have incomplete bullish sequences in European indices like DAX and IBEX, suggesting that FTSE will be supported as well. In the following article, we’re going to explain the Elliott wave structure and Forecast.
FTSE 1 Hour Elliott Wave Analysis 1.28.2019
As we can see on the chart below , the Index made 5 waves structure in the rally from the 6530.64 low. So we believe that can be only the first leg of the ABC Zig Zag recovery. Pull back against the 6530.64 low is unfolding as Elliott Wave Flat, when we can now be in the last leg wave (v) of ((c)) of B red Flat. FTSE should ideally find buyers at 6783.5-6656.18 before giving us another leg higher ideally to allow DAX and IBEX to reach their extremes in the cycles from the 12/27 2018 lows. Price has reached the blue box, but there is no sign yet that the pull back is done. FTSE still can extend lower in short term within blue box as shown on the chart. We don’t recommend selling the index at this stage and expect buyers to appear any moment.

FTSE 1 Hour Elliott Wave Analysis 1.28.2019
Buyers appeared right at the blue box when Elliott Wave Flat completed at 6734.84 low. Recently we got a new short term high with a break above 01/11 low, confirming next leg up C red is in progress. At this stage FTSE is bullish against the 6734.84 pivot, suggesting more upside toward 7197 area. Now as far as 6734.84 pivot holds, intraday pull backs should ideally find buyers in 3,7,11 swings for proposed rally or 3 wave bounce at least.
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Elliott Wave View Suggest Another Push Higher In Facebook
Elliott wave view in Facebook (ticker symbol: $FB) suggests that the rally from December 24.2018 low ($122.55) is unfolding as Elliott wave zigzag structure. The first leg of a zigzag structure ended in wave ((A)) at $152.43 high. Down from there, wave ((B)) pullback unfolded as double three structure where wave (W) ended at $146.37 low. Wave (X) bounce ended at $148.80 high and wave (Y) of ((B)) ended at $142.52 low. A zigzag structure is a 5-3-5 structure where wave ((A)) & ((C)) can unfold as an impulse or a diagonal structures.
In Facebook case, the wave ((C)) is taking a form of an impulse structure where wave (1) ended at $149.83. Wave (2) pullback ended at $143.46 low in lesser degree zigzag structure. Wave (3) ended at $171.68 high in lesser degree 5 waves structure. And wave (4) pullback unfolded as double three structure where wave W ended at $165.35 low. Wave X bounce ended at $169.10 high and wave Y of (4) ended at $163.62 low.
While above there, the stock is expected to resume the upside 1 more time in wave (5) towards $172.61-$191.13 100%-161.8% Fibonacci extension area of ((A))-((B)) before it ends the zigzag structure & turns lower again or pull back in 3 swings at least. A break above $171.68 high still needed to confirm the next leg higher until than a double correction lower in wave (4) can’t be ruled out. Near-term, while above $143.46 low, expect Facebook to extend higher.
Facebook 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Ishares Silver Trust (SLV) Larger Cycles and Elliott Wave
February 1, 2019 By EWF Lewis (Edit)
Ishares Silver Trust (SLV) Larger Cycles and Elliott Wave
Firstly as seen on the weekly chart shown below. There is data back to when the ETF fund was started in 2006. Data suggests the fund made a low in 2008 that has not been taken out in price. There is no Elliott Wave count on that weekly chart. However you should be able to assume from the October 2008 lows to the April 2011 highs was a larger degree impulse.
Secondly, the decline from the April 2011 highs down to the December 2015 lows was three swings. Price held above the October 2008 lows. The bounce from the December 2015 lows to the August 2016 high was strong enough to end the cycle from the April 2011 highs. I presume the correction lower completed there.
The analysis continues below the weekly chart. Here is the SLV Weekly Chart.

Thirdly, the cycle from the April 2011 high appeared to have ended with the bounce to the August 2016 high. That bounce appeared to be a diagonal wave one of large degree. Here is where the daily chart shown below picks up with the Elliott Wave labeling. Next, the pull back lower is a pretty tough count. My best effort suggests it was a double three. The two waves of motive there, the black ((A)) & ((C)) were diagonal impulses separated in the connector wave ((B)). This is a complex double three (W)-(X)-(Y). The wave (Y) ended with a bearish triangle. The decline from the June 14, 2018 high ended on September 11th 2018 just above the lows from December 2015. The bounce from the September lows is strong. It ended the cycle from the August 2016 highs.
The analysis concludes below the daily chart. Here is the SLV Daily Chart.

In conclusion, the bounce from the September 11, 2018 lows exhibits all qualities of an impulse in the black wave ((1)) thus far. However it is incomplete at this point and should go higher. A pullback in the smaller degree blue (4) when seen could retest or end either side of the January 22nd 2019 lows. It should see another high again afterward. However it is hard to pinpoint exactly where not knowing the blue (3) and (4) points at this time. Thus as of now it appears it would be around the 16.20 to 16.50 area. Next when it corrects the cycle from the September 2018 lows it will be expected to remain above there.
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Lewis Jones of the ElliottWave-Forecast.com Team

Elliott Wave View Suggest More Upside in General Electric
Elliott wave view in General Electric (ticker symbol: $GE) suggests that the rally from December 11.2018 low ($6.66) is unfolding as Elliott wave zigzag structure when the first leg of a bounce ended in lesser degree 5 waves structure in wave A at $9.25 high. Down from there, wave B ended 3 wave pullback at $8.56 low. Zigzag (5-3-5) is a combination of 3 waves corrective sequence labeled as A, B, C. The inner sub-division of wave A & wave C consists of 5 waves structure either as impulse or a diagonal. While wave B can be any 3 wave corrective sequence.
Up from $8.56 low, wave C is unfolding in another 5 waves structure where lesser degree wave ((i)) ended at $9.21 high. Wave ((ii)) pullback ended in lesser degree zigzag structure at $8.65 low. Wave ((iii)), also unfolded in lesser degree 5 waves & ended at $10.77 high. Below from there, wave ((iv)) pullback ended at $9.92 low. Wave ((v)) remain in progress in lesser degree 5 waves structure and should be looking to extend higher 1 more push towards $11.15-$12.76 100%-161.8% Fibonacci extension area of A-B before ending the wave C of a zigzag structure in a bigger wave (4). Afterwards, General Electric is expected to resume the downside or should do a 3 wave pullback at least. Near-term, as far as the pivot from $8.65 low stays intact expect stock to extend higher.
General Electric 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

$SPY : More Volatility Still To Come Due to Market Nature.
February 5, 2019 By EWFEric (Edit)
$SPY : More Volatility Still To Come Due to Market Nature.
Looking at the Monthly chart of the Index, we can conclude that most Volatility is still to come. The Market by nature advances with the trend and then pulls back against the trend. The Elliott Wave Theory always suggests one of the 3 advances will be extended. Most of the time the wave (III) is the stronger. The Index has created a strong move since lows at 2009. It is hard to believe another strong rally will come due to the extension since 2009.The Index Monthly chart show a advance since 2009 which can have a nest at the early stage. We are showing that in the following chart.

We have identified 2 possible paths, and both have similar characteristics.
Path 1: The Index is still within the powerful wave (III) blue. We just have ended or will stay sideways within the wave IV red. This path will make this year low a huge low and new highs will come without breaking it. Within this path the minimum upside target will be the inverse 1.238% extension of wave IV and comes in at the 307.06 area. The maximum target and least likely is at 374. This is the 61.8% of the I-III in red.
This path is supported by the idea that the (I)-(II) extension has not yet been reached. The 1.618 % extension is at 315.00. Most of the time wave (III) will end near there. Another reason that support this path is the idea that the Stochastic is snaking at the monthly chart which most of the time represent a wave (III) in progress due to the powerful momentum. Furthermore, the cycle from 2009 is holding the channel. The following chart is showing the Quarterly chart with the snake in stochastic indicator.

Path 2: The Index ended the cycle from 2009. Thus we will be doing a series of 3-7-11 swings lower. We would already be within the wave (IV) Blue. This path will make the Index holding last year peak and turning lower by 2.13.19-2.18.19 or 2.25.19 to 3.5.19. We should see another leg lower before a turn back higher.
This path is supported by the idea that stocks like $APPL and $FB have ended their all-time cycle up. This is very similar to the 2009 cycle.
Placing both paths together and seeing the strong advance since 2009, we believe a wave III in some degree have already ended and a series of nests either within the 2009 cycle or a big wave (IV) will take place. We are ready and with the help of the Elliott wave Theory to understand that a lot of volatility can happen in 2019 and buying the dips is The Right Side.