On the 4h chart of EURCAD, we see that price was trading in a correction, because of a slow and sloppy price action. That said price made a double zig-zag labeled as red waves w-x-y. We think that correction might be over because of a sharp fall to the downside labeled as red wave i-circled. A recent pullback to 1.4984 could be red wave ii-circled, and now we may...
On the Daily chart of Sugar, price is trading in a three wave action. We are more and more viewing this three wave action as a new bullish cycle, because of a broken upper channel line and a very sharp action in current wave (iii) . That said price could be facing a correction in blue wave (iv) in days ahead before market will continue even higher within impulse....
On the Daily chart of GBPCAD we see a nice five wave structure from the 1.8147 area. That means that now we expect price to make a three wave recovery into red waves (a), (b) and (c). Waves (a) and (b) seems to be completed and now wave c) is in the making. Waves (a) and (c) consists out of five sub waves, while wave (b) has only three waves.
That said wave (c)...
On the Daily chart of Sugar we see that price has made five blue waves to the downside, completing an impulsive structure of a higher degree. That said we think that Sugar may have found a bottom, at least temporary, because rally from the lows needs to be structured by three waves. Currently we see wave (c) in play back to the area of a former wave (iv) - 12.83....
Adobe System has given a recent correction after a long rally. That correction would be a Wave A correction and since then it has retraced back to 61.8% fib which is also the trendline resistance making a Wave B. One can Go short now with stoploss just above the recent high and Targets atleast towards the same lows where the channel line support comes making it a...
Corn seems to be in a corrective pattern in red wave 2 that can retrace back to fibo. level of 50-61'8 %. After the correction is completed, price may reach lower levels.
www.ew-forecast.com
MSFT is consolidating after bearish price action in what appears to be a sideways combination corrective pattern. Regardless of EW count, there are multiple congruent harmonic patterns that if completed will be met with significant trendline resistance, helping to drive price down. List of confluence in PRZ is listed below.
PRZ Confluence:
1. Two Bearish...
In these time of uncertainty, it is very difficult to take a position on the equity markets.
I still think there is no reason to have a bigger correction than the one we have known in August, but I believe the market has to retest the lows before rallying again.
I think several scenarios/events could hit the market before the end of October. (2 possible FOMC...
Both #GOLD and #SILVER are in correction phase for exactly 4 years now which looks like ending very soon. Bullish Divergence on both metals is already giving strong signal of Bulls getting ready for longer term... Keep eyes on it !!
At end of wave-Z, either its completed wave-4 on major trend (in that case counts as WXYXZ are correct) or its just 1st part of wave-4 (in this case it is only full wave-A as 12345 instead of WXYXZ), but in any case, if these counts are correct, we will see a #Bullish action for #YellowMetal soon !
On the Daily chart of Cocoa, blue wave A seems to be completed, because of a sharp reversal to the upside into blue wave B. That said the pull-back in blue wave B may reach the fibo. level of 50% or 61.8% of previous blue wave A, before turning to the downside into blue wave C.
www.ew-forecast.com
Nasdaq has been trading bullish since 2008. So far it has made three waves up within ongoing impulse with blue wave 3 still unfolding. On the Daily chart we are tracking an ending diagonal in red wave v-circled that can cause a top for wave three this year. However another high can still occur because on a daily chart we see a triangle in black wave (iv) of an...
Cocoa has been trading bullish since April 2015. It has already made five waves up. Now we are tracking Blue wave A, that may unfold in upcoming days. That said blue wave A may reverse around 61.8% fib. level. After wave A is completed, Cocoa may face a correction in blue wave B.
www.ew-forecast.com
An inverse head-and-shoulders pattern has formed on the FTSE, with a projection of around 200 points, which would pull it towards the 6900 handle. This leads me to believe that market makers are looking to clear out the stops that will be resting above the 'double top' before any further move down in the index.
6921 is the 70.5 OTE fib retracement from the 10th...
Idea is based on Elliott wave theory and the use of Fibonacci extension ratio confluence. Stochs are used for wave confirmation. More info on the chart. Good luck
