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

GBPUSD Elliott Wave View: Sellers Should Remain In Control
Short term Elliott wave view in GBPUSD suggests that the cycle from February 24, 2021 peak is unfolding as a double three structure. While the initial decline to March 25, 2021 low ended wave ((W)) at $1.3668 low. Up from there, the pair made a recovery in wave ((X)) bounce to correct the cycle from the 2/24/2021 peak. The internals of that bounce unfolded as Elliott wave zigzag structure where wave 1 of (A) ended at $1.3731 high. Wave 2 ended at $1.3690 low, wave 3 ended at $1.3813 high, wave 4 ended at $1.3754 low, and wave 5 ended at $1.3847 high thus completed the first leg of the bounce in wave (A).
Down from there, the pair made a 3 wave pullback within wave (B) as a lesser degree zigzag structure where wave A ended at $1.3754 low. Wave B ended at 1.3783 high and wave C ended at $1.3705 low. Then the pair started the (C) leg higher as an ending diagonal structure where wave 1 ended at $1.3812 high. Wave 2 ended at $1.3744 high, wave 3 ended at $1.3852 high, wave 4 ended at $1.3809. And wave 5 ended at $1.3919 high after reaching the 100%-123.6% Fibonacci extension area of (A)-(B) at $1.3885- $1.3927 area. From where the pair saw sellers as expected & saw the minimum reaction lower. Near-term, as far as bounces fail below $1.3919 high then the pair is expected to resume lower. However, a clear break below $1.3668 prior wave ((W)) still needed to confirm the next extension lower & avoid double correction higher.
GBPUSD 1 Hour Elliott Wave Chart

Attached Image (click to enlarge)

$FXC Canadian Dollar Trust Elliott Wave & Long Term Cycles
April 7, 2021 By EWF Lewis
$FXC Canadian Dollar Trust Elliott Wave & Long Term Cycles
Firstly the FXC instrument inception date was 6/26/2006. The instrument tracks changes of the value of the Canadian dollar relative to the U.S. dollar. It increases in value when the ‘loonie’ strengthens and declines when the dollar appreciates. In January 2002 the USDCAD forex pair made an all time high at 1.6184. Then it saw a decline into the November 2007 lows at .9059 where it is thought to have ended correcting the cycle up from the all time lows. That translates to the 113.02 price high from November 2007 in FXC. This is where the analysis begins on the FXC monthly chart shown below. The analysis continues below the FXC Monthly chart.

Secondly as previously suggested the FXC instrument mirrors USDCAD price highs and lows inversely. The decline from the November 2007 highs in FXC appears to be a complete Elliott Wave five wave impulse although it does have some price overlap as would a diagonal. The wave III ended in January 2016 then saw a zig zag wave structure in wave IV that ended in September 2017 correct the cycle from the July 2011 wave II highs.
In conclusion: As the chart suggests, the instrument appears ended a larger cycle lower in wave V of (C) to complete a flat wave ((B)) in March 2020. The bounce from there can be corrected at any time however as of this point in time it appears incomplete and can see some further strength toward the 83 to 84 area before it corrects the cycle up from the March 2020 lows. While above the March 2020 lows it should resume 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
Source: https://elliottwave-forecast.com/sto...g-term-cycles/
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VivoPower International ($VVPR) Close To Longer Term Low
April 7, 2021 By EWF Robb
Clean and renewable energy goes hand in hand with the EV sector in 2020. VivoPower has its hand in both sectors and has had an explosive move off the March 2020 low. This stock moved from 59 cents to a peak of 24.33 which is about a 4100% move. It would make sense that the stock needs a prolonged cool down period of profit taking before the next leg higher can materialize. Before we get into the technicals, lets take a look at what they do as a company:
“Through our subsidiary companies, VivoPower provides a comprehensive suite of sustainable energy solutions, encompassing electric vehicles, solar systems and battery technology, including microgrids, along with critical power services. Tembo’s Electric Light Vehicle (ELV) are the premier 100% electric solution for ruggedized mining, industrial and commercial applications. Vivo Solar builds battery storage systems and microgrids. Kenshaw is a leader in critical electrical power and mechanical services. And J.A. Martin is specialized in industrial electric engineering and power services.”
Lets dig into the charts!
VivoPower Elliottwave View:

Medium term term view from the all time low in March 2020. This stock took its time for the momentum to kick in. After ((2)) set in June, things really started to heat up. Wave ((3)) peaked at 14.84, rallying from ((2)) low at 1.27. After ((3)) peaked, a sharp ((4)) took place which didn’t last long before the surge in ((5)) took place. In the end, ((5)) of Red I peaked at 24.33 on October 9th 2020 and the stock has been correcting every since that time.
It is currently favoured that the structure needs another low to complete the sequence from the peak. The equal leg extreme, or blue box as we like to call it, goes too low to be a reliable target. It is hard to predict at what price VivoPower may find a low at this juncture. However, it does appear that at least one more low below ((A)) of Red II is needed to complete the corrective sequence from the Red I peak.
In Conclusion, as long as ((B)) high remains intact, prices can grind lower before resuming the upside.
Risk Management
Using proper risk management is absolutely essential when trading or investing in a volatile stocks. Elliott Wave counts can evolve quickly, be sure to have your stops in and define your risk when trading.
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Source: https://elliottwave-forecast.com/sto...nger-term-low/
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Zomedica Corp ($ZOM) Reaching The Blue Box Extreme
April 8, 2021 By EWF Robb
2020 has brought about a lot of changes in the world. Pet care has exploded as people have been locked down in their homes looking for company. Playing off that trend is Zomedica Corp. As a result, this stock has rallied from a low of 6 cents in November 2020, to a peak of $3.00 on February 11. What does Zomedica Do? Lets take a look at their company profile:
“Zomedica is an animal health company focused on meeting the needs of clinical veterinarians in ways that promote both patient and practice health. Our mission is to advance the effectiveness and financial well-being of veterinary practitioners by delivering professionally beneficial diagnostic products and services.
Our team is comprised of clinical veterinarians, animal health professionals, innovative scientists, and business experts committed to helping practicing veterinarians remember why they chose to care for animals and recapture the joy in their career.
We recognize the emotional rewards that come from working in the animal care industry, the sacrifices made in fulfilling the noble veterinary oath, and the challenges impacting veterinarians’ success.”
Their flagship Truforma Platform has recently had its first commercial sale in March 2021. Lets take a look and see what the chart says about this company.
Zomedica Corp Elliotwave View:
Attachment g
Medium term term view from the all time low in November 2020. Zomedica is favoured to have 5 swings into the peak into Red I on Feb 11, 2021 @ a high of 3.00. After that, a very technical correction has taken place. It is favoured that this stock is in the final swings of forming a low at the blue box extreme area. What is the blue box? It is an area where algo’s are programmed to react for a bounce (if bullish) or profit taking (if bearish). Consequently, Zomedica has reached the blue box extreme while correcting a bullish impulse off the November 2020 low. In addition, prices at the 100% blue box top at 1.18, is matching the 61.8 retrace of the whole advance. As a result, these types of fib confluences can give higher odds to a low to take form.
In Conclusion, there is room for one more low, but the stock doesn’t have to. It has already entered into the blue box and found a bounce. It is favoured this stock will get at least a 3 swing bounce from this area. If not start the next leg higher.
Risk Management
Above all, using proper risk management is absolutely essential when trading or investing in a volatile stocks. Elliott Wave counts can evolve quickly, be sure to have your stops in and define your risk when trading.
Improve your trading success and master Elliott Wave like a pro with our free 14 day trial today. Get free Elliott Wave Analysis on over 70 instruments including GOOGL, TSLA, AAPL, FB, MSFT, GDX and many many more.
Source: https://elliottwave-forecast.com/sto...e-box-extreme/
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GDX Elliott Wave View: Showing Corrective Bounce
Short term Elliott wave view in GDX suggests that it is doing a recovery from March 03, 2021 low in a corrective structure. The internals of that bounce is unfolding as Elliott wave zigzag structure where the first leg of the bounce ended in wave A at $34.48 high. Down from there, the GDX made a 3 wave pullback in wave B with another lesser degree zigzag structure. While the lesser degree wave ((a)) ended in 5 waves at $31.91 low. Wave ((b)) bounce ended in 3 swings at $32.96 high and wave ((c)) ended at $31.65 low thus completed wave B pullback.
Afterward, the ETF is trading higher in the next leg higher within wave C. The internals of the current bounce is unfolding as an impulse sequence where wave ((i)) ended at $32.79 high. Wave ((ii)) ended at $32.42 low, wave ((iii)) ended at $34.59 high and wave ((iv)) ended at $33.83 low. Near-term, as far as the pivot from $31.65 low stays intact then GDX is expected to take the extension higher in wave ((v)) towards $35.47- $37.83 area higher. Before it ends the cycle from 03, 2021 low in a zigzag structure & consequently the correction against the cycle from January 05, 2021 peak.
GDX 1 Hour Elliott Wave Chart

Elliott Wave View: Litecoin (LTCUSD) Impulsive Rally in Progress

Short term Elliott wave view in Litecoin shows the crypto currency rallies in a 5 waves impulsive structure from February 22, 2021 low. Up from February 22 low, wave (1) ended at 230, and dips in wave (2) ended at 167.67. Wave (3) rally is currently in progress with internal subdivision as another 5 waves in lesser degree. Wave 1 ended at 244.9 and wave 2 pullback ended at 211.53.

The 1 hour short term chart below shows wave 2 at 211.53. Up from there, wave (i) ended at 228.89, and dips in wave (ii) ended at 218.78. The crypto currency rallies again in wave (iii) towards 258.02, and pullback in wave (iv) ended at 248.83. Litecoin then does another rally in wave (v) towards 263.26. The final leg higher completes wave ((i)) of 3. Pullback in wave ((ii)) is proposed complete at 240.21 with internal subdivision as a double three structure. Near term, while dips stay above 240.21, and more importantly above wave 2 low at 211.53, expect the rally to resume higher.

Litecoin 1 Hour Elliott Wave Chart

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Litecoin (LTCUSD) Elliott Wave Video


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Source: https://elliottwave-forecast.com/new...ally-progress/

Elliott Wave View: S&P 500 (SPX) Rally Should Resume

Short term Elliott wave view in S&P 500 (SPX) suggests the rally from March 5, 2021 low is unfolding as a 5 waves impulsive structure. Up from March 5 low, wave ((i)) ended at 3983.87 and wave ((ii)) pullback ended at 3853.50. Internal of wave ((ii)) unfolded as a double three where wave (w) ended at 3886.75, wave (x) ended at 3955.31, and wave (y) ended at 3853.50.

Index then resumed higher in wave ((iii)) which subdivides into another impulsive structure in lesser degree. Up from wave ((ii)) low, wave (i) ended at 3981.83 and wave (ii) pullback ended at 3944.04. Index resumes higher again in wave (iii) towards 4086.23 and pullback in wave (iv) ended at 4068.14.
Near term, expect wave (v) of ((iii)) to end soon. Index should then pullback in wave ((iv)) to correct cycle from March 25 low before the rally resumes. Wave ((iv)) pullback should ideally reaches 23.6 – 38.2% Fibonacci retracement of wave ((iii)). The pullback area can start to be measured once we know where wave ((iii)) ends. As far as wave ((ii)) pivot at 3853.50 remains intact, expect pullback to continue finding support in 3, 7, or 11 swing for further upside. The right side in the Index remains higher (bullish).

SPX 1 Hour Elliott Wave Chart

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S&P 500 (SPX) Elliott Wave Video


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Source: https://elliottwave-forecast.com/new...-rally-resume/

Berkshire Hathaway Inc. Is Developing An Impulse From March 2020 Lows
April 11, 2021 By EWFLuis
Berkshire Hathaway Inc. Is Developing An Impulse From March 2020 Lows
Since the crash of March 2020, all stocks have tried to recover what they lost and Berkshire Hathaway was no exception. BRK.B did not only recover the lost, but It also reached historic highs. Now, it is building an impulse from March 2020 lows with a target to $318 – $342 area. Target measured from wave ((1)) and wave ((2)) that we believe already are done. I think this target is conservative and as the weeks go by we will update a better target area.
Berkshire Hathaway Daily Chart
As we see in the daily chart, the wave ((1)) ended and the structure it is not quite common called an expanding leading diagonal. (If you want to learn more about Elliott Wave Theory, please follow this link: Elliott Wave Theory). I think it is better to manage the structure of Berkshire Hathaway in that way instead of a nest. This is because comparing some cycles has more sense with the current structures of the market.
Then we have a clear zig-zag correction as wave ((2)) and we are developing wave ((3)) in these moments. Shor Term we believe we are completing wave (3) of ((3)) and that it should send the stock much higher. It is difficult to determinate if wave 4 in red is done or not, it could continue ranging for a while until the rally comes we are going to see that in the next days.
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Bitcoin ( $BTCUSD ) Elliott Wave : Another Buying Setup
April 12, 2021 By EWF Vlada
Hello fellow traders. As our members know Bitcoin BTCUSD has been giving us a lot of good trading setups recently. In this blog, we’re going to take a look at the latest Elliott Wave setup of Bitcoin. Cryptocurrency $BTCUSD is showing impulsive- bullish sequences. We’ve been calling for a rally and recommending members to keep buying the dips in 3,7,11 swings whenever chances occur .
BTCUSD 1 Hour Elliott Wave Analysis 2.10.2021
BTCUSD is bullish against the 43102.28 low in first degree. Cryptocurrency is giving us pull back wave ((2)) which still looks incomplete at the moment. The price is missing another leg down toward blue box area : 51406.1-46024.8 ( buyers zone). From the Blue Box area area we expect rally to take us toward new all-time highs ideally. We don’t recommend selling it. Strategy is buying the dips at the proposed blue box area. The main trend is bullish so we expect to see 3 waves bounce at least from the blue box. As soon as the price hits 50Fibs against the (B) blue high we will make long position risk free.
As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a bounce. You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

BTCUSD 1 Hour Elliott Wave Analysis 4.11.2021
Eventually Bitcoin made leg down toward blue box area. The cryptocurrency found buyers as expected and giving us nice reactions from the blue box . ((2)) black pull back completed at 50414.9 low. The price is showing now higher high sequences from the mentioned level. We would like to see further rally and break above ((1)) black peak to confirm next let up is in progress. We don’t recommend selling BTCUSD in any proposed pull back and favor the long side from the blue box. Members who took long trades are now enjoying profits in risk free positions.Our system is not hard to understand. We’re always trading in the direction of the main trend. Idea is to enter at the extreme areas which we mark on the charts as blue boxes.
Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. 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

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Source: https://elliottwave-forecast.com/tra...itcoin-btcusd/
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$FXY Long Term Cycles and Elliott Wave Analysis
April 13, 2021 By EWF Lewis
$FXY Long Term Cycles and Elliott Wave Analysis
Firstly the $FXY instrument inception date was 2/12/2007. The instrument tracks changes of the value of the Japanese Yen versus the US Dollar. There is plenty of data going back into the longer term 1970’s time frame available for the currency cross rate in the USDJPY. The foreign exchange pair shows a larger degree time frame low is in place October 2011 at 75.57. Comparatively, the FXY instrument reflects a price high at 130.22 in October 2011.
The analysis continues below the FXY Monthly chart.

Secondly the FXY instrument mirrors USDJPY price highs and lows inversely as the initial above paragraph suggests. In the FXY instrument the decline from the October 2011 high into the June 2015 lows is an Elliott wave impulse. Internally there are a couple of degrees shown there in the red & blue colors that finished the black wave ((I)). From the June 2015 lows the bounce higher in both price and momentum indicators suggested the cycle lower had ended there.
In conclusion: As the FXY weekly chart suggests the instrument ended a larger degree cycle in an Elliott wave impulse of five waves lower in June 2015. The bounce from there appears to be three swings in the wave (w) in blue that ended August 2016. From there a double three wave (x) in blue ended in January 2017. From there a cycle in the red w ended in March 2020.
Currently it appears there is a pullback to correct the cycle from the January 2017 lows before turning higher again in the blue (y) of ((II)). While this plays out with price remaining above the January 2017 lows the FXY can see a turn higher. This larger degree ((II)) is a typical double three Elliott Wave structure. It can reach the 100.78 – 112.80 extension area before the larger degree time frame bearish cycle takes over again taking prices substantially lower.
Thanks for looking. Feel free to come visit our website. Furthermore please check out our services Free for 14 days to see if we can be of help. Kind regards & good luck trading. Lewis Jones of the ElliottWave-Forecast.com Team
Source: https://elliottwave-forecast.com/sto...wave-analysis/
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$MTX: MTU Aero Engines Started a New Larger Cycle Higher
April 13, 2021 By EWF Helgi
MTU Aero Engines AG is a German aircraft engine manufacturer. It develops, manufactures and provides service support for civil and military aircraft engines. Founded in 1934 and headquartered in Munich, Germany, it can be traded under the ticker $MTX at XETRA in Frankfurt. MTU is a part of DAX30 index.
MTU Monthly Elliott Wave Analysis 04.13.2021
The monthly chart below shows the MTU stock $MTX traded at XETRA in Frankfurt. From the all-time lows, the stock price has developed a cycle higher in blue wave (I) of a super cycle degree. MTU has printed the all-time highs in January 2020 at 289.30. Without any doubt, the advance is a textbook quality impulsive move up in 5 waves. From January 2020 highs, a sharp straightdown correction in the blue wave (II) has retraced 2/3 of the price. An important bottom has been printed in March 2020 at 97.76 low. From there, a new cycle in wave (III) might have started. Investors can be expecting MTU stock to reach into the new all-time highs. The target will be 388-568 area.

MTU Daily Elliott Wave Analysis 04.13.2021
The daily chart below shows in more detail the advance in red wave I of blue wave (III) from the March 2020 lows at 97.76. Hereby, one can clearly see 3 swings higher. Therefore, one should expect at least another swing higher to form a 5 waves move ending wave I. Once accomplished, a pullback in red wave II should find support in 3, 7 or 11 swings against the 97.76 lows. Then, an acceleration higher in red wave III of blue wave (III) should happen.

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IYR Found Buyers At The Blue Box And Rallied
April 14, 2021 By EWFGerald
In this blog we take a look at US Real Estate ETF (IYR) reaction higher from the blue box.
The 1 hour chart below is an update from 3/8/2021.We see that IYR peaked at the 90.50 to 91.00 area and completed black wave ((3)) of an anticipated leading diagonal. Down from there, the ETF made 7 swings lower into the blue box. Subsequent to the 7 swingsdecline, IYR completed wave ((4)) at 84.04. In the 7 swings we see blue waves (W), (X), and (Y). Within both blue waves (W) and (Y), we see clear 3 swings subdivisions, which is A-B-C zig zags. Zig zag subdivisions consist of five wabes in A and C, with a correction in B. However, in the chart below, we show only internal subdivisions within red wave C of blue wave (Y) due to chart space constraints. We also see that the ETF had already started to react higher from the blue box. We therefore proposed the 84.04 level as a level of invalidation.
Elliott Wave 1 Hour Chart 3/8/2021Attachment g
In the 1 hour chart below from 3/12/2021, we see further separation higher from the blue box. We anticipated this upside move from the blue box. We are able to anticipate such moves with our blue box system. All long positions from the blue box area were already running risk free. The right side remained upside. There is no reason therefore to sell IYR against it’s dominant upside trend.
Up from the blue box area, the ETF rallied in 5 swings in red wave 1. One may need to downgrade timeframe in order to see the swings in red wave 1 clearly. Naturally, we saw a correction follow in red wave 2 as per Elliot Wave nature of a motive sequence. We confirmed the next leg higher in red wave 3 once red wave 1 peak was broken. Although incomplete, we expected continuation higher in red wave 3, then 4 and 5 of bigger degree blue wave (1).
Elliott Wave 1 Hour Chart 3/12/2021Attachment g
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Source: https://elliottwave-forecast.com/sto...lies-blue-box/
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Elliott Wave View: USDJPY Pullback in Progress

Short term Elliott wave view in USDJPY suggests that the pair is currently pulling back to correct cycle from January 6, 2021 low. From the high on March 31, 2021 peak, the pullback is unfolding as a double three Elliott Wave structure. Down from March 31 peak, wave ((w)) ended at 109.93 and wave ((x)) rally ended at 110.55. Pair then resumed lower in wave ((y)) towards 108.97 which completed wave W. Bounce in wave X ended at 109.97 with internal subdivision as a zigzag Elliott Wave structure. Wave ((a)) of X ended at 109.39, wave ((b)) of X ended at 109.18, and wave ((c)) of X ended at 109.96.

Pair has resumed lower in wave Y as another double three in lesser degree. Down from wave X at 109.96, wave (w) ended at 109.21, wave (x) ended at 109.75, and wave (y) ended at 108.72. This completes wave ((w)) of Y. Short term, wave ((x)) rally is expected to fail while below 109.96 for further downside. Possible target lower is 100% – 161.8% Fibonacci extension from March 31 peak at 106.7 – 108. As far as pivot at 109.96 high stays intact, expect short term rally to fail in 3, 7 or 11 swing for further downside.

USDJPY 1 Hour Elliott Wave Chart

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USDJPY Elliott Wave Video

FTSE Elliott Wave View: Pullback Should Continue to Find Buyers

Short term Elliott wave view in FTSE Index suggests that the rally from February 27 is unfolding as a 5 waves impulse Elliott Wave structure. Up from February 27 low, wave ((i)) ended at 6812.78 and pullback in wave ((ii)) ended at 6619.89. Index has resumed higher in wave ((iii)) with subdivision as another impulse in lesser degree. Up from wave ((ii)) low, wave (i) ended at 6792.23 and dips in wave (ii) ended at 6713.63. Index resumed higher in wave (iii) towards 6949.56 and pullback in wave (iv) ended at 6853.75.

Expect wave (v) to end soon which should complete wave ((iii)) in higher degree. Afterwards, Index should pullback in wave ((iv)) to correct the cycle from March 25 low before the rally resumes higher in wave ((v)). As far as March 25 pivot low at 6619.89 stays intact, expect dips to find support in 3, 7, or 11 swing for further upside. The pullback in wave ((iv)) in 3, 7, or 11 swing should ideally end at 23.6% – 38.2% Fibonacci retracement of wave ((iii)). This area can be measured once wave ((iii)) has ended and pullback has started.

FTSE 1 Hour Elliott Wave Chart

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FTSE Elliott Wave Video



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NKE (Nike) Forecasting The Reaction Higher From the Blue Box Area
April 16, 2021 By Hassan Sheikh
In this technical blog, we will look at the past performance of 4 hour Elliott Wave Charts of Nike ticker symbol: NKE, which we presented to members at the elliottwave-forecast. In which, the rally from 18 March 2020 low unfolded as an impulse structure. And showed a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
NKE 4 Hour Elliott Wave Chart

Above is the 4hr Elliott wave Chart from the 3/25/2021 update. In which, the stock ended the bigger wave ((3)) at $147.95 high in an impulse sequence. Down from there, the stock made a bigger pullback in wave ((4)). The internals of that pullback initially thought to be a flat structure where wave (A) ended in 3 waves at $128.91 low. Up from there, the wave (B) bounce ended in a lesser degree flat structure at $146.66 high and started the (C) leg lower in an impulse sequence. And managed to reach the $127.57- $115.77 100%-161.8% Fibonacci extension area of (A)-(B). From where buyers were expected to appear looking for more upside or for a 3 wave bounce at least. (It’s important to note that with further data we were able to adjust the degree of a pullback to a double three instead of a flat correction lower).
NKE Latest 4 Hour Elliott Wave Chart

Here’s the latest 4hr Elliott wave Chart from the 4/15/2021 update. In which, the stock managed to reach the blue box area at $127.57- $115.77 & showing a reaction higher taking place from the blue box area. Right after ending the double three correction within the blue box area at $124.84 low. Allowed members to create a risk-free position shortly after taking the long positions at the blue box area. However, a break above $147.95 high still needed to confirm the next extension higher & avoid double correction lower.
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MSFT 3 Swings Pullback Offered Good Buying Opportunity
April 16, 2021 By Hassan Sheikh
In this technical blog, we are going to take a look at the past performance of 4 hour Elliott Wave Charts of Microsoft ticker symbol: MSFT, which we presented to members. In which, the rally from 06 January 2021 lows, showed the higher high sequence in an impulse structure favored more strength to take place. Also, the right side tag pointed higher suggested the same side. Therefore, we advised our members to buy the dips in MSFT in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
MSFT 4 Hour Elliott Wave Chart

Above is the 4hr Elliott wave chart of MSFT from the 3/04/2021 update. In which, the pullback to $211.84 low ended bigger wave ((4)) and showed a strong impulse rally higher, which ended wave (1) at $247.70 high. Down from there, the MSFT made a pullback in wave (2) to correct the cycle from 1/06/2021 low. The internals of that pullback unfolded as an Elliott wave zigzag structure where wave A ended at $228.97 low. Wave B bounce ended at $246.13 high and wave C managed to reach the 100%-161.8% Fibonacci extension area of A-B at $227.27- $215.59. From where buyers were expected to appear in the stock looking for more upside.
MSFT Latest 4 Hour Elliott Wave Chart

Here’s the latest 4 hour Elliott Wave Chart from 04/15/2021 update. In which, the MSFT managed to reach the blue box area at $227.27- $215.59 & showing a strong reaction higher taking place from the blue box area. Allowed members to create a risk-free position shortly after taking the longs at the blue box area.
If you are looking for real-time analysis in MSFT along with the other US stocks & ETF’s then join us with a Free Trial for the latest updates & price action.
Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry.
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Source: https://elliottwave-forecast.com/sto...g-opportunity/
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Has Gold Ended the 8 Months Correction?
April 16, 2021 By EWFHendra
There’s a lot of talk in Fintwit lately suggesting that precious metals may have ended the long 8 months correction and ready for the next glorious rally. In this article, I will attempt to answer the question whether Gold has ended correction or not using technical analysis. I will use Elliott Wave Theory and also the simple concept of corrective and impulsive structure. Of course, no technical or fundamental analysis will always be 100% perfect. However, based on the current data, there’s still a possibility that the correction is not over yet. There are three charts presented below suggesting the correction may not be over.
1. Gold Has not Reached 100% Extreme From August 7, 2020 High

In the Daily time frame above, we could see Gold forming the peak on August 7, 2020 high and now pulling back in a 7 swing double three (wxy) structure. In this type of structure, ideally wave y reaches 100% – 161.8% Fibonacci extension of the wave w. Gold has not reached the 100%, and at this present stage (April 16, 2021), the rally is not strong enough to suggest for sure that the correction is completed. Therefore, we still can not rule out another extension lower in Gold to the blue box area before ending the correction. If Gold continues to rally, breaks and closes above the descending trend line from August 7, 2020, then at that time we will have more data to consider the 8 months correction is over.
2. The First Leg of Rally from March 9, 2021 is in 3 Waves (Corrective)

4 hour chart above shows the rally from March 9, 2021 low ($1676.1) to wave (A) at $1755.50 is in 3 waves. If Gold has ended the 8 months correction, the rally from the low would have unfolded as an impulsive structure. However, it is only in 3 waves. With the current data, we still can’t rule out the possibility for further downside after current corrective rally is over.
3. US Dollar Index Shows 5 Waves Up (Diagonal) From January 6, 2021 Low

4 hour chart of US Dollar Index (DXY) above shows a 5 waves rally from January 6, 2021 low. Thus, as far as the pullback in Dollar Index stays above January 6 low, another leg higher can happen. The strength in US Dollar, if it happens, could affect Gold. Gold can turn lower to reach blue box as first chart shows when US Dollar starts to rally.
In conclusion, recent rally in Gold still doesn’t provide sufficient data to conclude the correction is really complete. Further downside still can’t be ruled out based on current data as of April 16. For further update on Gold or other commodities, forex, and stocks, feel free to take our 14 days trial here –> 14 days FREE Trial
Source: https://elliottwave-forecast.com/com...ed-correction/
#elliottwave #trading #gold

HIREN GARASONDIA :

INTRADAY TRADING STRATEGY FOR GOLD AND SILVER.....

Sell Gold $1782.50.00-$1786.00 range(June-Future)

SL $1800.00

Tgt1 $1760.00
Tgt2 $1750.00
Tgt3 $1745.00......

Sell Silver $26.300-$26.400 range(May-Future)

SL $26.790

Tgt1 $25.350
Tgt2 $25.750
Tgt3 $25.350......

$IFX: Infineon Technologies Nesting Before Acceleration Higher
April 16, 2021 By EWF Helgi
Infineon Technologies AG is a German semiconductor manufacturing corporation. It has been founded 1999 as a spin-off from Siemens AG and the headquarteres of the company are in Neubiberg, Germany. Today, Infineon belongs to the DAX index and one can trade it under the ticker $IFX at Frankfurt Stock Exchange. The company is the world leader in automotive and power semiconductors. Worldwide, Infineon counts more than 45’000 employees.
Infineon Monthly Elliott Wave Analysis 04.16.2021
The monthly chart below shows the Infineon shares $IFX traded at Frankfurt Stock Exchange. From the all-time lows, the stock price has developed a cycle higher in wave ((I)) towards the 77.57 highs. There, in June 2000, it has printed the all-time highs. After the primary impulse higher, a correction lower in wave ((II)) has ended on March 2009 at 0.31.
From the March 2009 lows, a new cycle in wave ((III)) has started and develops a series of nests. First of all, a cycle higher as a blue wave (I) has ended in June 2018 at 25.76. Hereby, within the impulsive advance, all the subwaves I, III and V are impulsive waves, too. Wave III demonstrates a clear extension in price. From the June 2018 highs, a correction in wave (II) lower has unfolded as a double three pattern. It has printed the low in March 2020 at 10.13.
From the March 2020 lows, a new cycle in wave (III) of ((III)) has already started. As a matter of fact, break of 25.76 has confirmed that. As of right now, the price is within red wave I of blue wave (III). Once finished, pullback in wave II should find support in 3, 7, 11 swings above 10.13 lows for another extension higher in wave III. Therefore, investors and traders can be looking to buy Infineon targeting the 77.97-125.94 area in a longer view.

Infineon Daily Elliott Wave Analysis 04.16.2021
The Daily chart below shows the $IFX shares price action in more detail. From the March 2020 lows at 10.13, the stock price has advanced in black waves ((1)) – ((3)) of the red wave I. The correction lower in wave ((4)) has ended at 31.61. While above there, the Infineon stock is within black wave ((5)) of red wave I. Once the march 2020 cycle in wave I has finished, expect a pullback in wave II to find support in 3, 7 or 11 swings above 10.13 lows for an expected acceleration in wave III of (III).

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Source: https://elliottwave-forecast.com/sto...ration-higher/
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JNJ Should Continue With The Rally This Week After Rebounce
April 18, 2021 By EWFLuis
Since the crash of March 2020, all stocks have tried to recover what they lost and JNJ was no exception. Johnson & Johnson did not only recover the lost, but It also reached historic highs. Now, we are going to try to build a wedge from the March 2020 lows with a target above $176.
JNJ Last Daily Chart
In the last chart we can clearly see that after the fall of March 2020, JNJ had a strong and rapid recovery. This wave ((3)) had its highest point at 173.69 where JNJ was rejected by the market. This rejection did another double correction structure and overlaps the wave ((1)) zone to end the wave ((4)). (If you want to learn more about Elliott Wave Theory, please follow this link: Elliott Wave Theory).
JNJ Daily Chart
As days passed, the share price continued to rise until reaching 167.12, which we call wave (i). From there, we have a clear correction in a zig zag structure as wave (2) that bounced from a possible trendline. If this trendline is good, then JNJ should continue to rise with an impulse structure that exceeds at least the value of $ 173.69 in the following days.
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Source: https://elliottwave-forecast.com/sto...ue-rally-week/
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