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Copper yet has not bounce but still can do it.This is a follow up of the last elliott wave analysis published 8 months ago www.tradingview.com The basic change is in the extended 5th. The diagonal as we expected did not work due keep the original wave count as originally stated is impossible due now will see the 3rd wave as the shortest. This can't be even in diagonals. So the best way to update it is by extending the 3rd wave as a double zigzag and then count the following up sided zigzag as a wave 4. This give us space for the fifth wave that is getting near to the 1 to 1 proyection for the 5) vs the traveled from the start of 1) to the end of 3) measured from the end of 4).
COMEX:HG1!
by 7pasos
1
AUD will break down its support but bounce back thenThe AUDUSD is poised to break below it's support. The last polls shows 5 times more analyst expecting a rate cut of 25bps for the next April 7th meeting than the previous weeks. 78% chances for rate cut priced by the Mkts (Rtrs). Even when previously have more preference for the gray wave count, the break below the wave ii (gray) discard this idea and places more odds for an expanded triangle as wave iv). As the down movement since iv) (black count) seems a single impulse this could be an small push lower the support to be bounced back short after, Should wait to see how this following up movement develops to better asses what will happen then.
Short
by 7pasos
Long Term Nasdaq 100 under Elliott Wave CountToday to "celebrate" the first time in 15 years of the Nasdaq above the 5000 publish this Nasdaq 100 fut. long term wave count The chart is logarithmic. We can observe a 5 wave decline from the last peek at 4856 followed for a more slow upward movement that I can't precise due the lack of historic if its a new impulsive fase or part of something else. The chances are more inclined to the impulsive due the extension of the 3dr wave (even when the C wave in zigzags could reach more than 2 to 1 proportion with the A wave, is far more common to find this kind of extendend proportions in waves 3 and there fore this have more chances to be an impulse. In this the wave 3 is near to its finish, so in the short time (this is a weekly chart) is probable that we will face an important pullback but the odds stil in favor to new highs in the long run.
N
by 7pasos
2
Weekly Elliott Wave Count of EURJPYThe preferred wave count and the alternate wave count suggests that we will have a wave B to the upside now. With the preferred wave count taken into consideration, we may see that we have 5 waves forming the WAVE A. A five-wave A indicates a zigzag for wave B. If we take the alternate count into consideration, we have 3 waves forming the WAVE A. A three-wave A indicates a flat or triangle. So we may expect a choppy move to the upside now in EURJPY. With that said, the hourly charts can be traded on a bullish bias using pullbacks and 0.382 and 0.618 fibonacci levels.
Long
by PranavShandilya
1
I do not see why this puppy shuld not go higherAfter all the scandal about Herbalife and Ackman talking against this company, from a merely technical stand point of view I must say, can't see why should not look for new highs. As long as the historic of this chart let's me view, we came from a strong rally, that were severely retraced 76.4% in log scale. This means that this or is the A or 1 of a structure, which means that the price usually could rise till 1 to 1 relation-ship which should be at least to 93 per share (more or less). Besides the last stated, the last impulsive wave do not seems finished as you can see in my wave count the last structure misses a v)) wave to be completed. Even more, if the price breaks the 47 level, the retrace is more probably a new sing of extension. So this shuld not fall, at least, until it gets the 93 per share or more.
NYSE:HLFLong
by 7pasos
1
Gold could face new downward pressureAfter forming a first down impulsive movement, the price has formed an expanded flat. You can discard other kind of counts like a zigzag in the first part of the decline because after it's bullish rebound the price descended in a zigzag fashion pattern and there after the price get new highs from the last lows. After initial pullback that could be deep, this could send the price to a minimum at least of 1228 but if the price ends to be impulsive (you'll can tell because the base channel will then be broken to the downside) it could get much lower.
FX:XAUUSDShort
by 7pasos
The ugly picture for wheatAt the beginning of the 2008 while the sub prime crisis start to be feared by all the wheat touched peaked, since then until mid 2010 the price dis-inflated severely (lost around 65% at the time from the $1320’s to a very better $480’s the contract. But as the recovery geared traction from 2010 it reduced the lost of price more than half when made at end of 2012 the almost 960 high. Since then the price reduced again in this deflationary scenario that are so worrisome for all till the 551 low at beginning of this year. The pattern for this decline since the 960 highs is clearly an impulse as you can see, the question lies on the context: Is this a beginning of a new trend that eventually lead to a new lows or was just a C from a corrective pattern meaning that the wave had end and therefore will rise again, and if so, how high it will get. Unfortunately I think this is not a new low impulse, and I’m more convinced that its about a C wave in fact the end of a B wave of higher degree and if I’m right we are about to see a new rally that could take us beyond the 960, and even more, at least near the 2008 high.
CBOT:ZW1!Long
by 7pasos
2
AUDUSD considering lenght of 2) we must be ending 4)Daily Elliott Wave Count The simetry in the elliott wave analysis is not a rule but an important guide to reduce de guess work to determine if a wave structure had been completed or not. In this case, as we expected a clear retrace had been done since the end of the impulsive pattern for wave 3) with a nice fibonacci's level of 38.2 (the most common level of retracement for wave 4). Adding to this you can observe a cross over in the AO to confirm this idea, our expectancy is that the price, as soon as shows an upside turn (that should not be far from here) should go up again to try to reach a new high.
Long
by 7pasos
2