Elliottwave-Forecast.com - Official Thread w/ Analysis Blogs

Gold Elliott Wave View: $2700 Area Should Be In The Horizon
August 8, 2019 By EWFEric (Edit)
Gold has been in the very strong rally lately and many wonder why the Instrument has been trading on a very technical way. We at Elliott Wave Forecast use the Elliott Wave Theory different than the rest.
We track over 100 instruments across the world, just to be able to locate the right side of the Market within either sector, groups and even within the groups. The reason for that is that the Market trades as a whole which means all Instruments are related to each other in an Intermarket way.
The following chart is showing the bullish sequence which was created when the instrument took 9/3/2017 peak at around 1360. Therefore, we have been telling to our members that we are looking for a minimum target of 1452.00.

Gold 03.12.2018 Past Weekly Sequence Analysis

The following chart was presented to our members. Which has been calling this powerful move higher ahead of time. We were able to anticipate a wave 3 higher. Now the instrument is trading over $300.00 higher and getting more and more interesting by the day.

Gold 05.25.2019 4 Hour Elliott Wave Analysis

In the last few weeks have been very interesting because another instrument related to Gold is showing the next possible move. XAUGBP which is Gold against the British Pound has taken the 2011 peak which is the same peak in Gold against Dollar in 2011.
The XAUGBP low in 2015 is the same as XAUUSD. Consequently, the break higher supports Gold against every other currency. The following chart shows the idea and path in XAUGBP.

XAUGBP 08.8.2019 Quarterly Elliott Wave Analysis

We at Elliott Wave Forecast analyze the market in a unique way. We use Elliott Wave Theory together with Sequences, Cycles, Correlation and more.
Many will not believe that Gold can trade into $2700 area. Many did not believe that $1450 was possible when the Instrument was trading around $1200.00 early this year. Our system was right and the sequences ending working. As always Market do not trade in a straight line, but knowing the right side is key, watch the following video and understand our view.

GDX Elliott Wave View: Found Buyers in Blue Box and Rallied
August 8, 2019 By EWFSanjay (Edit)
Hello fellow traders. Today, I want to share some Elliott Wave charts of the GDX which we presented to our members in the past. You see the 1-hour updated chart presented to our clients on the 07/30/19. showing that GDX ended the cycle from 05/13/19 low at the peak of 07/23/19 at 28.41.
Below from there, we advised members that the pullback should extend lower into the blue box. Below 28.41 level, we said to our clients it should see the equal legs from 07/23 peak towards the areas of the 100 – 1.618 Fibonacci extension of the blue wave (A)-(B) which came around 26.72-25.94. 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 highs.
GDX 07.30.2019 1 Hour Chart Elliott Wave Analysis


In the last Elliott Wave chart, you can see that GDX reacted nicely higher and continued the rally. Later on it made even a new high. Due to the right side up tag, we expected GDX to be supported overall. 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 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. These areas are used be traded in the direction of the right side.
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 14 days free trial below. We present a lot of trading setups in our 3 Live Trading Rooms.

GDX 07.30.2019 1 Hour Chart Elliott Wave Analysis


I hope you liked this blog and I wish you all good trades. And for all who are interested in learning more about our unique blue box areas and also want to trade profitably in 2019 then sign up for a free 14 days trial you can cancel anytime. Click the link and see you insight

Elliott Wave View: GDX Ready to Resume Higher

Short term Elliott Wave view suggests that pullback to $26.04 ended wave ((4)). GDX has since rallied within wave ((5)). Subdivision of wave ((5)) is unfolding as an impulse Elliott Wave structure. Up from wave ((4)) at $26.04, wave 1 ended at $28 and pullback to $27.5 ended wave 2. The miners then rallied in wave 3 towards $29.17, wave 4 ended at $28.31, and wave 5 ended at $30. This rally to $30 concludes wave (1) of ((5)). Subdivision of wave 3 also unfolded as an impulse of lesser degree as the chart below shows, illustrating the fractal nature.

GDX is now correcting cycle from August 1 within wave (2) before the rally resumes. Structure of the pullback is unfolding as a double zigzag. Down from $30, wave W ended at $28.87 as a zigzag where wave ((a)) ended at $29.3, wave ((b)) ended at $29.82, and wave ((c)) ended at $28.87. Wave X bounce ended at $29.92, and wave Y is expected to end at 28.09 – 28.79 with subdivision also as a zigzag. Wave ((a)) of Y ended at $29.o7, wave ((b)) of Y ended at $29.75, and wave ((c)) of Y is now in progress towards $28.09 – 28.79 before buyers appear. We don’t like selling the miners and expect buyers to appear in 3, 7, or 11 swing as far as pivot at 26.04 low stays intact.

GDX 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Disney (NYSE: DIS) Impulsive Structure is Supporting Further Rally

Disney (NYSE: DIS) surged to new all time highs in April 2019 confirming the breakout of the consolidation range that lasted for 3 years.
The rally from December 2018 low unfolded as an impulsive 5 waves structure which is part of the weekly cycle from 2016 low. The cycle ended on July peak from where a correction lower has started looking ideally for a 3 waves zigzag structure which can take the stock toward $129 – $123 area before the stock either resume the rally higher or bounce in 3 waves at least.
Disney DIS 4H Chart 08.10.2019

However, if DIS manage to rally higher without doing another leg lower, then the correction could have ended as a 3 waves flat structure so in that case the stock will remain supported above August low and it would aim for a move higher toward $150 – $156 area .
Disney DIS 4H Chart ( Aggressive View) 08.10.2019

In conclusion, Disney has bullish impulsive structure supporting the stock to find buyers in 3 or 7 swings pullback against December 2018 low $100 and it will be looking to make new all time highs after ending the current 4H correction.

Explore a variety of investing ideasby trying out our services 14 days and learning how to trade our blue boxes using 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.

Australian Dollar Slumps as Rate Cut Expectation Rises
August 12, 2019 By EWFHendra (Edit)
Australian Dollar extended the decline to its lowest in a decade last week. The slump came after RBNZ (Reserve Bank of New Zealand) delivered a bigger than expected interest rate cut. RBNZ governor even went so far and promised to do whatever it takes, including more rate cut, negative rate, QE. This prompts the speculation that RBA (Reserve Bank of Australia) will follow the path. The currency dropped by 1.2% to 0.667 and broke below the January 2019 low of $0.674. This is the lowest level for the AUDUSD since March 2009 during the financial crisis.

Market look to be in a cycle of competitive rate cuts due to the escalating trade war between U.S. and China. After Trump’s threat of additional tariff, China has since let the Yuan slide in daily fixing to support the export. People’s Bank of China (PBOC) has allowed Yuan to weaken past the CNY 7.00 to $1 level for the first time since 2008. The move has dragged other worldwide currencies. South Korean Won, Australian Dollar, New Zealand Dollar all dropped following the Yuan’s move.
A weaker Chinese Yuan puts pressure on emerging market currencies. Back in 2015, a similar break in Yuan caused a sell-off in emerging market currencies, stoking fear of currency contagion. President Trump’s demand for more easing from the Fed to weaken the dollar and sharp depreciation in Chinese Yuan thus has indeed prompted a cycle of competitive rate cuts worldwide. Central Bank in India and Thailand have also announced larger than expected rate cuts last week.
EURAUD Weekly Elliott Wave Sequence

EURAUD shows an incomplete bullish sequence from July 2012. The structure of the rally from there is unfolding as a double zigzag Elliott Wave structure. The pair has a 100% target towards 1.857 – 1.975 area. A break above January 3, 2019 high (1.679) will be a sign that the next leg higher has started. It will also keep pressure in the Australian Dollar. We don’t like selling the pair and continue to favor the upside. However, we’d like to wait for a break above January 3, 2019 high first for confirmation.
EURAUD Daily Elliott Wave Chart

Above is one possible daily count for the pair. If pair can do 1 more leg higher to complete a 5 waves rally from April 17 low, then it will also break above Jan 3, 2019 high. This should confirm the bullish sequence like the previous weekly chart shows. Once pair breaks above 1.679, then subsequent pullback should be supported in the sequence of 3, 7, or 11 swing.
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SEKJPY Elliott Wave View: Pair Is Showing The Map For The YEN Group
August 11, 2019 By EWFEric (Edit)
Hello fellow traders. The YEN group has been selling lately across the board and the path has become more clear with the SEKJPY breaking its 2016 lows.
We at Elliott Wave Forecast trade the Market different than most other market participants. We track over 100 instruments across the world. That allows us to locate the right side. We use the Elliott Wave Theory together with cycles, sequences and correlation and lot more.
Market move in sequences of 3-7-11 and for us, that is very important. Currently, a 7 swings structure is taking place in the SEKJPY from its 2014 peak. This is how a sequence looks in the Elliott Wave Theory.
https://elliottwave-forecast.com/wp-...1-1024x647.jpg

In the chart above we can see 3 swings lower ABC into (W) and then a connector and then another 3 waves lower which completed the 7 swings sequences. Let’s have a look now at the SEKJPY.
The SEKJPY is part of the YEN group. The following chart shows the sequence in the weekly chart of the Instrument.

SEKJPY Weekly Elliott Wave Analysis 8.8.2019


We can see how from its 2014 peak the instrument did 3 waves lower into its 2016 low in red 1. Above from there, it bounced higher into its 2017 peak. Below from it managed to break to new lows making it a lower low sequence which should be ending the cycle from 2017 peak and it should reach extreme in time and price soon towards 10.77-9.46 area in price and in time will be the same amount of swings 1. We can see 3 degrees at the chart, Red, Blue, and Black from higher to lower degree and the combination of them makes the forecast act as a whole. The following video explains the idea and why the YEN should be strong.

GBPUSD Technical Analysis
Start of the trading week of August 4 – 9 / 2019 EWF members were already advised to watch for GBPUSD to make another move lower. The GBPUSD 1 Hour chart below, from our members area, clearly advises our members to watch for the termination of Wave ((iv)) in the blue box followed by a price reversal lower. Knowing which side to trade is key to be successful trader and by following our Elliott Wave count allows a trader to easily make a decision whether to enter a BUY or a SELL.
GBPUSD 1 Hour Weekend Chart 8.3.2019

Combining other trading strategies to match the Elliott Wave count will also add more confirmation and confidence in taking the trade. If you follow my Twitter handle @AidanFX you will see on August 8/2019 I posted –> ” Will be watching #GBPUSD for possible selling opportunities #elliottwave #forex #trading #FXsignals #pips #forexsignals #tradingsignals ” and ” #GBPUSD break below 1.2094 can extend move lower towards the 1.2007 area #elliottwave #forex #trading #FXsignals #pips #forexsignals #tradingsignals “.
The GBPUSD 1 Hour chart below clearly shows a multiple of other trading strategies (market patterns) that were also calling for another extension lower and why I traded and SOLD the move lower. 1st SELL entry was at the point D (BC 0.50%) of the blue bearish pattern where there was also a support/resistance structure (pink). 2nd entry is on the momentum swing low breakout (green). Let’s see if we HIT 1:3 RR Target (1st entry) and 1:1.5 RR Target (2nd entry) this coming new trading week. A clear bearish scenario.
GBPUSD 1 Hour Chart 8.9.2019

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 ***
At Elliottwave-Forecast we cover 78 instruments (Forex, Commodities, Indices, Stocks and ETFs) in 4 different timeframes and we offer 5 Live Session Webinars everyday. We do Daily Technical Videos, Elliott Wave Trade Setup Videos and we have a 24 Chat Room. Our clients are always in the loop for the next market move.
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Elliott Wave View: Chesapeake Energy (CHK) Sellers Remain in Control

Chesapeake Energy Corporation (ticker: CHK) is a company operating in hydrocarbon exploration. The company produced natural gas, petroleum, and natural gas liquids. Continued pressure on Oil and gas prices have affected the company greatly. The stock price continues to languish under selling pressure. The company's fortune ties directly with the energy price and unless energy price can substantially recover, the stock will continue to be under pressure.

Technical wise, short term Elliott Wave view of Cheasepeake Energy (CHK) suggests that bounce to 1.87 ended wave 2. The stock has resumed lower and ended wave 3 at 1.26. The internal of wave 3 subdivides as an impulse Elliott Wave structure. Down from 1.87, wave ((i)) ended at 1.51, wave ((ii)) ended at 1.67, wave ((iii)) ended at 1.38, wave ((iv)) ended at 1.44, and wave ((v)) ended at 1.26. Wave 4 bounce is now in progress as a zigzag Elliott Wave structure. Up from 1.26, wave ((a)) ended at 1.48, wave ((b)) ended at 1.36, and wave ((c)) is expected to end at 1.58 - 1.72. The stock should then resume lower in wave 5 as far as pivot at 1.87 high stays intact.

CHK 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Elliott Wave View: Bank of America (BAC) Extends Lower

Bank of America (ticker symbol: $BAC) currently shows an incomplete sequence from August 1 high, favoring further downside. Short term Elliott Wave technical view from the chart below suggests the rally to 28.51 ended wave B. The stock has resumed lower and broken below August 7 low (27.12) confirming the next leg lower has started. Wave C is in progress and the internal subdivides as an impulse Elliott Wave structure. Down from 28.51, wave (i) ended at 27.46, wave (ii) ended at 28.25, and wave (iii) ended at 26.28.

Another leg lower is expected to end wave (v) of ((i)) before cycle from August 10 high ends. The stock should then bounce within wave ((ii)) in 3, 7, or 11 swing before the decline resumes. One possible structure of wave ((ii)) bounce can be in a zigzag before the decline resumes. We don't like buying the stock and expect sellers to appear and rally to fail in 3, 7, or 11 swing as far as pivot at 28.51 high stays intact. Potential target to the downside in wave (C) is equal to wave (A) at 23.6 - 24.5 area.

BAC 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

Elliott Wave View: Bitcoin (BTCUSD) Looking for Larger Correction

Short term Elliott Wave View on Bitcoin (BTCUSD) shows the rally to 12336.88 on August 6, 2019 ended wave ((X)). The crypto currency declines from there and the structure is unfolding as an impulse Elliott Wave structure. Down from 12336.88, wave 1 ended at 11532, wave 2 ended at 12145.42 and wave 3 ended at 9653.6. We can see from the chart below the internal of wave 3 is also unfolding as a 5 waves impulse of lesser degree. Wave ((i)) of 3 ended at 12061.1 and wave ((ii)) of 3 ended at 10026.74. Next leg lower to 10250 ended wave ((iv)) of 3 and wave ((v)) of 3 ended at 9653.6

Expect Bitcoin to rally in wave 4 then extends lower 1 more leg to end wave 5 and complete cycle from August 6 high. Afterwards, the the crypto currency should do larger bounce to correct the 5 waves down from August 6 high. A break below July 17, 2019 low (9049.54) is needed to validate the view of a larger correction in Bitcoin. We expect bounce to fail in 3, 7, or 11 swing for further downside as far as pivot at 12336.88 stays intact.

Bitcoin 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

EURUSD : Bearish Market Patterns
August 18, 2019 By EWF Aidan (Edit)
EURUSD Technical Analysis August 18/2019
In January of 2019 I published the EURUSD SELL breakout trade setup (EURUSD: Will Pair Break Lower) explaining that bearish market patterns were clearly visible and was calling for a move lower towards 1st Target at 1.1060.
EURUSD Daily Chart 1.23.2019

Fast forward to August 2019. In the chart below bearish market patterns continued to form causing the pair to continue moving lower and finally hitting the 1.1060 1st target level. All bearish market patterns shown below triggered sells at their precise entry points and all pushed EURUSD lower. Not one market pattern was invalidated showing that bears had control. At the moment only one bearish market pattern remains which is the light blue bearish pattern. Light blue bearish pattern has already triggered sells at the BC 0.50% area and has moved lower from this level. The light blue bearish pattern still needs to break below the point C of the pattern so expect for price to continue lower towards the green box target zone near the 2nd target. As long as price stays below the June 2019 high invalidation level we expect EURUSD to continue lower to the 1.0890 minimum level which is the top of the green box target zone. Any moves higher towards the light blue BC 0.50% level traders should look for possible selling opportunities.
EURUSD Daily Chart 8.18.2019

https://elliottwave-forecast.com/wp-...9-1024x461.jpg
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 ***
At Elliottwave-Forecast we cover 78 instruments (Forex, Commodities, Indices, Stocks and ETFs) in 4 different timeframes and we offer 5 Live Session Webinars everyday. We do Daily Technical Videos, Elliott Wave Trade Setup Videos and we have a 24 Chat Room. Our clients are always in the loop for the next market move.
Try Elliottwave-Forecast for 14 days FREE !!! Just click here –> 14 day FREE trial

Inverted Yield Curve and What It May Mean to the Indices
August 18, 2019 By EWFHendra (Edit)
Last week, traders got spooked by the yield curve inversion of the most closely watched 2 year vs 10 year bonds. Yield curve inversion between 2 year and 10 year bond is a powerful predictor of recession. The 2-10 yield curve inversion preceded the past seven recessions from 1969. This means that the interest rates of the 10 year Treasury bonds bonds fall below the 2 year Treasury note. In a normal market, short term debt should be safer than the longer dated one as short term debt will be paid quickly. Short term debt in normal situation therefore should provide lower interest rate to the holders than the longer term debt.
In a yield curve inversion, the short term debt offers a higher interest rate. This potentially reflects a lack of confidence in the country’s near-term economic health. That’s what happened last week as the yield from 2 year US treasuries note became higher than the yield from 10 year bonds. The bond market thus flashed a warning signal even though US equity market is still relatively supported.

An inverted yield curve doesn’t necessarily mean the stock market will turn bad immediately. It can take 2-3 years for a recession to hit after the 2 year and 10 year curve inverts. What this means though is that equity markets may be nearing its important peak. In the last recession, the yield curve inverted on December 27, 2005, which was 2 years before the Lehman’s collapse sent the economy into recession. Other parts of the curve have already inverted. Last December, the yield on 5 year Treasury note fell below the yield on 3 year note. Then in March, the yield on the 3 month Treasury Bill fell bellow the yield on 10 year note. Concerns over global slowdown and uncertainties in US China trade war have weighed heavily on longer term US Treasury yields.
S&P 500 Long Term Elliott Wave View

S&P 500 long term view above suggests that the entire rally from all-time low is in 3 waves. We can either label this move as (I)-(II)-(III) or alternatively as (a)-(b)-(c). Wave (I) / (a) ended in year 2000. The subsequent correction took the form of an expanded Flat and bottomed in 2009. Since then, we are in a 10 year bull run and the Index is now more or less reaching the 161.8% Fibonacci extension. If history is any indication, the stock market may still do last-gasp rally in wave (V) after the initial recession warning. However, at minimum, we at Elliottwave-Forecast.com believe cycle from 2009 is mature and lives on borrowed time. So expect at minimum a sizable pullback in wave (IV) in the next 6 months – 1 year.
The market will then decide if we only end cycle from 2009 in which case the Index then can do 1 more leg higher in wave (V). Alternatively, the entire rally from all-time low completed as (a)-(b)-(c) and we will then be in the biggest correction.
S&P 500 Shows Signs of Weakness

The chart above shows that the Index attempts to break the ascending trend line from 2018. If the selloff gains acceleration, then the next strong support is around 2125 – 2470. This area has the Fibonacci support of 23.6 – 38.2 retracement. It also has the support of 200 Weekly Moving Average (the red line) as well as the ascending trend line from 2009 low.
Please keep in mind that the Index does not need to immediately break down to this level, and at this point it can still rally and make further upside. However, the chart above is one possible scenario in a wave (IV) type of pullback. From 2125 – 2470 area, the Index has a chance to do a final rally in wave (V). Alternatively, Index can do a big 3 waves bounce before turning lower again.
Subscribe to our service to get the latest update on this potentially big move in the market. You can try our service 14 days FREE here –> 14 days FREE Trial.

Elliott Wave Analysis: Trading USDNOK with Right Side System
August 16, 2019 By EWFSanjay (Edit)
In this blog, I want to share with you some Elliott Wave charts of USDNOK which we presented to our members. In the chart below you see the 1-hour updated chart presented to our clients on the 08/6/19. The higher degree trend of the pair is to the upside and the 1-hour timeframe as well. So our members know that the right side is higher. Consequently, we advised members that we like buying the pair.
GBPAUD ended the cycle from 07/29/19 low in red wave 3 at 08/02/19 peak (8.9574). Below from there, we expected a pullback to occur in red wave 4. The pullback unfolded in an Elliott Wave Zig Zag correction structure. We advised members that USDNOK should continue higher and that we wanted to buy the pair. Therefore, we expected buyers to appear in the sequences of 3, 7 or 11 swings. At the 100 – 1.618 Fibonacci extension of black ((a))-((b)) which came at around 8.885-8.844 area and that was the first area for us to buy with a potential stop loss below 8.8441 level.

USDNOK 06.06.2019 1 Hour Chart Elliott Wave Analysis


In the last Elliott Wave chart. You can see that the USDNOK reacted nicely from the blue box area. Any trades from our blue box area shown in the chart above are risk-free and already hit minimum target, or members took advantage of the blue box and made a decent profit. Please keep in mind that the 4-hour chart which I presented can have changed already. This blog should just illustrate how accurate our blue boxes are, and how our members trade our 3-7 or 11 swings strategy.
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 14 days free trial below. We present a lot of trading setups in our 3 Live Trading Rooms.

USDNOK 08.07.2019 1 Hour Chart Elliott Wave Analysis


I hope you liked this blog and I wish you all good trades. And for all who are interested in learning more about our unique blue box areas and also want to trade profitably in 2019 then sign up for a free 14 days trial you can cancel anytime. Click the link and see you insight.

Why Silver Price Is Sending A Warning To The SPX
August 15, 2019 By EWFEric (Edit)
Hello Traders. as we always do at Elliott Wave Forecast we believe in the one Market only concept. Back in 2017, we did a blog in which we mentioned that Silver was the smartest way to sell World Indices.
We do understand that the longest bull rally in the SPX is coming soon to the end. In the chart below, you can see that the cycle has not ended yet and can still extend into the 3186-3500 area. However, we have signs that the longest expansion or acceleration has already passed.

SPX Monthly Elliott Wave View 8/15/2019


The SPX is within a blue box which goes from 2221 to 3186. If it goes above the 3186 area, which we believe can happen and SPX will become an impulse and do a wave (IV) and (V). However, that move will not be as strong as the cycle from 2009 low. Sooner or later based on the Elliott Wave Theory, after a 5 waves advance the Market will most likely do the biggest correction Humankind has ever seen.
The following chart shows the correction between Silver and SPX which is showing how much Silver rally within the period from 2000 to 2009 until its peak at 2011
Now we are in the early stage of a reaction higher from the weekly blue box in Silver. We should be trading in Silver around the 2003-2005 time period when the instrument started to create the first leg into the huge rally which should be the peak in SPX soon.

SPX vs. Silver Quarterly Chart


Silver reached the blue box, as we presented in the following chart. The lowest point is very close to the production cost of Silver and consequently, it is hard to see the instrument trading much lower.
We believe a nest is taking place and will be sideways around the lows for the next few years like it did in the early 2000s. Having a look at the current Silver price it seems like the rolling over into a big move has started and a move into a peak in the SPX can have started also.
Traders lack in the understanding of how important the selection of the right instrument to trade is and at Elliott Wave Forecast will never tell members to pick the top of in SPX but will guide our members to buy instruments which should trade in the same or equivalent direction with the right side tags, like Silver is in this case.

Silver Weekly Elliott Wave View 8/15/2019


The Following video we explain the path for the SPX inline with the idea of Silver in the coming months/years.

GLD Longer Term Cycles and Elliott Wave Analysis
August 19, 2019 By EWF Lewis (Edit)
GLD Longer Term Cycles and Elliott Wave Analysis
Firstly the GLD ETF fund is one of the largest as well as one of the oldest Gold tracking funds out there since it’s inception date of November 18, 2004. From there on up into the September 2011 highs it ended a larger bullish cycle as did the Gold commodity in terms of US dollars. From the September 2011 highs the price decline was pretty steep however does appear corrective as a double three (a)-(b)-(c) (in blue color) into the December 2015 lows.
The analysis continues below the monthly chart.

Secondly I would like to mention that the bounce from the December 2015 lows at 100.23 into the July 2016 wave (I) highs (in blue) is clearly an Elliott Wave impulse. The bounce was strong enough to suggest it ended the cycle lower from the September 2011 highs as well thus at this point it is very much suspected to be resuming a long term bullish trend from the December 2015 lows. As shown above from there the metal made a wave (I) high in July 2016. From there it appears to have made an a-b-c (in red) running flat structure to end the wave (II) (in blue) at the August 2018 lows of 111.06.
The analysis continues below the weekly chart.


Thirdly in conclusion: From the wave (II) (in blue) lows of August 2018 lows at 111.06 the bounce higher in wave ((1)). It was strong enough to suggest it was finished with the wave (II) running flat structure.
In summary the cycle higher from the August 2018 lows appears to have an incomplete bullish sequence of five waves up in an Elliott Wave impulse. There is not a lot of time separation in the wave ((4)) (in black) related to the wave ((2)) (in black). However the technical indicators we use here suggests the pullback into the wave ((4)) lows (in black) from 8/1/2019 corrected the cycle up from the April 2019 wave ((2)) lows. The minimum target area for wave ((5)) of I has been reached. However while it remains above the 8/1/19 lows it may see the wave ((5)) equals wave ((1)) area at 148.45. Afterward it can see a pullback in the wave II (in red) correct the cycle up from the August 2018 lows before resuming higher again.
Thanks for looking. Feel free to come visit our website. Please check out our services Free for 14 days and see if we can be of help. Kind
regards & good luck trading. Lewis Jones of the ElliottWave-Forecast.com Team

Elliott Wave View: GBPJPY Recovery Nearing Completion
Short term Elliott Wave View on GBPJPY shows the decline to August 12, 2019 low (126.52) ended wave 3. From there, pair is doing the recovery in wave 4 with the internal unfolding as an Elliott Wave double three structure. This suggests the current rally takes the form a corrective structure and the bias remains to the downside. Up from 126.52, wave ((w)) ended at 129.22 with internal subdivision as a zigzag. Wave (a) of ((w)) ended at 127.09, wave (b) of ((w)) ended at 126.75, and wave (c) of ((w)) ended at 129.22. Wave ((x)) pullback corrected the zigzag rally and ended at 127.41.
Pair then extends higher within wave ((y)) with the internal subdivision as another double three in a lesser degree. Up from 127.41, wave (w) ended at 129.57 and wave (x) pullback ended at 128.92. Wave (y) of ((y)) remains in progress towards 130.15 – 131.85 area. This rally should also end wave 4 in a larger degree. Sellers are expected to appear from this area for further downside or a 3 waves pullback at least. We don’t like buying the pair and continue to expect a rally to fail in the sequence of 3, 7, or 11 swings.
GBPJPY 1 Hour Elliott Wave Chart

Elliott Wave View: Rally in Facebook is Corrective

Short term Elliott Wave View on Facebook (FB) shows the decline to August 6, 2019 low (176.29) ended wave ((W)). The rally from here took the form of a corrective structure. The internal subdivision of the rally is unfolding as an Elliott Wave double three structure. In this particular case, the rally is in the form of a double zigzag since both wave (W) and wave (Y) subdivide as a zigzag.

Up from 176.29, wave (W) ended at 190.98 with the internal subdivision as a zigzag. Wave A of (W) ended at 186.30, wave B of (W) ended at 181.22, and wave C of (W) ended at 190.98. The stock then ended wave (X) pullback at 177.39 with the internal subdivision as an expanded Flat. Wave A of (X) ended at 185.11, wave B of (X) ended at 191.38, and wave C of (X) ended at 177.39.

Wave (Y) rally is in progress with the internal subdivision as a zigzag. Up from 177.39, wave A of (Y) ended at 187.50 and wave B of (Y) ended at 182.39. Near term, while above 177.39, expect Facebook to resume higher in wave C of (Y). Potential target to the upside is 191.9 – 195.4 area, which is the 100% extension from August 6 low. From this area, the stock should then resume lower or at least pullback in 3 waves.

Facebook 1 Hour Elliott Wave Chart

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Elliott Wave View: Netflix Structure Looking Further Downside

Elliott Wave structure in Netflix shows an incomplete bearish sequence suggesting the stock should continue to see selling pressure. On the chart below, the rally to 316.59 ended wave 2. The stock has extended lower in wave 3 with the internal unfolding as 5 waves impulse Elliott Wave structure. Down from 316.59, wave ((i)) ended at 288 and wave ((ii)) ended at 311.75.

Wave ((i)) subdivided in another impulse structure of lesser degree. Wave (i) ended at 305.68 and wave (ii) ended at 316.43. Stock resumed lower and ended wave (iii) at 292.65, wave (iv) ended at 301.73 and wave (v) of ((i)) completed at 288. The internal of wave ((ii)) correction subdivided as a zigzag. Wave (a) ended at 303.55, wave (b) ended at 295.76, and wave (c) of ((ii)) ended at 311.75.

Wave ((iii)) is currently in progress and the internal subdivides as a 5 waves impulse of lesser degree. Down from 311.75, wave (i) ended at 293.15. Expect wave (ii) bounce to hold below 311.75, and more importantly below 316.59 for further downside. We don’t like buying the stock. As far as pivot at 316.59 high stays intact, the stock should resume lower. The bearish view will get further validation if the stock is able to break below August 15 low (288).

Netflix 1 Hour Elliott Wave Chart

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Elliott Wave View: Silver Remains Supported

Short Term Elliott Wave structure from the chart below suggests the rally in Silver to $17.5 ended wave (3). The metal then pullback in wave (4) to 16.91 with internal structure as a triangle. Triangle is labelled as ABCDE with subdivision of each leg in 3 waves. Triangle is therefore a 3-3-3-3-3 structure. In this case, wave A ended at 16.5, wave B ended at 17.39, wave C ended at 16.83, wave D ended at 17.19, and wave E ended at 16.91. We can also see each leg in the triangle subdivides in another 3 waves.

The metal has resumed higher in wave (5). Up from 16.91, wave 1 ended at 17.77 and wave 2 pullback ended at 17.49. Wave 1 subdivided as a 5 waves impulse structure. Wave ((i)) ended at 17.14 and pullback in wave ((ii)) ended at 16.96. Up from there, wave ((iii)) ended at 17.74, wave ((iv)) ended at 17.55, and wave ((v)) of 1 ended at 17.77. Silver still needs to break above 17.77 to confirm the next leg higher has started and avoid a double correction. We don’t like selling the metal. As far as pivot at 16.91 stays intact, expect Silver to extend higher.

Silver 1 Hour Elliott Wave Chart

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BMW AG Stock Sending Warning To German Automobile Sector

Hello fellow traders. In today’s blog, we will have a look at the BMW stock. In my previous blog, we discussed the possibility in the Daimler stock and why the biggest rival is under pressure and should remain lower.
Today, we will have a look at the BMW stock which is the counterpart of Daimler (Mercedes).
BMW (Bayerische Motoren Werke AG) is a German multinational company which has its Headquarter in Munich Germany. They are known for there premium production cars and also for their motorcycles. BMW is one of the largest producers of motor vehicles. However, BMW also owns Mini and Rolls-Royce.
In the last couple of weeks, all german car manufacturer including BMW are getting hit seriously by the possible tariffs for the U.S. market which President Trump threatens to Europe carmakers.
Furthermore, the German economy is clearly in a slowdown which can be seen through the German Benchmark Index DAX, which has been trading sideways to lower recently. Germany is highly dependent on the automotive sector. With Daimler, BMW, Volkswagen, and Audi Germany is the largest premium car marker country in the world.
Having a look at the stock we can see that it is under pressure as well which can be also seen in the chart below. Let’s have a look at the weekly price action and compare it to the Daimler AG.

BMW AG 08.26.2019 Weekly Chart Analysis


Daimler AG 08.22.2019 Weekly Chart Analysis


In the first chart above you can see that the stock ended the cycle up from its post-financial 2009 low at its 2015 peak. Below from there, it has been in the progress of correcting that in 3-7 or 11 swings. Same as Daimler (second chart). BMW broke below its 2006 low and also broke below its 2019 low. With that said, the stock has a 5 swings incomplete sequence from 2015 peak indicating that more downside should be in place. We can see that it reached the 61.8-76.40 extension area from 2015 peak. In the next coming days or weeks, we could see a bounce to correct cycle from 2018 before turning lower should take place.
BMW should ideally now see the equal legs from 2015 peak towards 37.21-22.92 area. This area can be used based on Elliott Wave Hedging for a good investment opportunity in favor of the German car markers again.
However, with the recent slowdown in the German economy. The German automotive sector will be weak. This put additional pressure on the recession fears which are currently going around.
Summarizing, the stock should see more downside in the next coming weeks and month into 37.21-22.92 area where a bigger reaction higher in favor of BMW should take place.

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