Get started

Elliottwaveretracement

Nifty Elliott Wave Analysis: Rallying Higher as ImpulseHello Traders, In this analysis, we will have a look at the Nifty index from India in the 4-hour timeframe. Nifty Elliott wave analysis suggests that the rally to 11171.55 high ended black wave ((3)). Down from there, the decline to 9951.9 low ended black wave ((4)) pullback. The internals of that pullback unfolded as Elliott wave double three structure with sub-division of 3-3-3 corrective swings in each leg. Down from 11171.55 high, the initial decline to 10276.3 low ended blue wave (W) as a Flat. Then the bounce to 10637.8 high ended blue wave (X) bounce. And the decline to 9951.9 low ended blue wave (Y) of black wave ((4)) as Elliott Wave Flat. Up from 9951.9 low, black wave ((5)) remains in progress as impulse where blue wave (1), (3) & (5) are expected to unfold in 5 waves advance within lesser degree cycles. Whereas blue wave (2) & (4) are expected to unfold in 3 waves corrective sequence in lesser degree cycles. Above from 9951.9 low, the rally higher to 10929.2 high ended blue wave (1) in 5 waves structure. Down from there, the pullback to 10404.62 low ended blue wave (2) in 3 swings. Above from there, the index is nesting in blue wave (3) higher. Where red wave 1 ended at 10893.25. And the red wave 2 ended at 10557.7 low. Near-term focus remains towards 11458.50-11584.44 100%-123.6% Fibonacci extension area of black wave ((i))-((ii)) to end the lesser degree blue wave (i). Later on, the index is expected to do a pullback in blue wave (ii) in 3, 7 or 11 swings before further upside is seen. We don’t like selling the index and prefer more upside as far as the pivot at 10404.62 low in our distribution system stays intact.
NSE:NIFTYLong
by Elliottwave-Forecast
7
ABC Correction Wave by the book!If my wave counts are correct, we are finishing up subwave 3 of the a-correction wave. I've adjusted the target of "a" down further since this wave 3 extended further than I predicted. But either way, this is a good looking correction wave. We should bounce back up to the resistance rectangle 78XX for subwave 4 before hitting the 7250 target of wave "a". Than the "b" wave with 3 subwaves will take us back up to this resistance at 78xx before the final "c" correction wave (made up of 5 subwaves that could take us down to he 6900-7000 target. This wave structure is setting up almost perfectly according to theory, with the exception of the steep squeezes and quick corrections that we see. But that is part of the volatility of the crypto market. Despite the appearance of whale manipulation and other unregulated variances, the wave theory continues to provide good insight into the market behavior and predicts trend changes just like traditional markets. Happy Trading! Have a Great Day!
BITFINEX:BTCUSDLong
by bluemt95
Elliott Wave Analysis: DAX Ready For Rally Higher?Hello Traders, DAX short-term Elliott wave analysis suggests that the pullback to 6.28.2018 low ended blue wave (2) at 12088.56. Up from there, the rally higher to 12769.8 higher ended red wave 1. The internals of that rally higher took place as impulse structure with internal sub-division of 5 wave structure in black wave ((i)), ((iii)) & ((v)). On the other hand, wave ((ii)) & ((iv)) took place in 3 waves corrective structure. Above from 6.28.2018 low cycle, the rally higher to 12369.5 high ended black wave ((i)). Down from there, the pullback to 12115 low ended black wave ((ii)). The rally higher from there took place in 5 waves structure & ended the black wave ((iii)) at 12630 high. Below from there, the pullback to 12513.5 ended black wave ((iv)) as a contracting triangle. The final rally higher from there ended black wave ((v)) of red wave 1 at 12769.5 peak. Down from there, the correction against 6.28.2018 low cycle completed red wave 2 at 12454.5 low after reaching the blue box area at 12540.50-12446.86 100%-161.8% Fibonacci extension area. Near-term, while dips remain above 12454.5 low and more importantly above 12088.56 low, expect the Index to resume the upside in red wave 3 higher. We don’t like selling it.
XETR:DAXLong
by Elliottwave-Forecast
Elliott Wave Analysis: Amazon May Start Another Extension HigherHello Traders, Let's have a look at the Amazon 1 hour chart. Short-term Elliott wave analysis suggests that pullback to $1646.48 low ended blue wave (2). Above from there, the stock is rallying higher in blue wave (3). The internals of that extension higher is unfolding as Elliott wave impulse structure with sub-division of 5 waves. Above from $1646.48 low, the rally to $1858.88 high ended red wave 1. The internals of that rally higher took place in another 5 waves impulse sequence in lesser degree cycles. The first leg of a rally to $1725 high ended black wave ((i)) as Leading diagonal structure. Then the pullback to $1682.15 low ended black wave ((ii)) pullback as a Zigzag correction. Up from there, the rally higher to $1841.95 ended black wave ((iii)) in 5 waves. black wave ((iv)) pullback ended at $1791 low, and black wave ((v)) of red wave 1 ended at $1858.88 high. Below from there, the stock did a 3 wave pullback in red wave 2, which is proposed to have completed the correction against $1646.48 cycle low. After reaching the blue box 100%-123.6% Fibonacci extension area at $1787.19-$1775.77. However, a break above $1858.88 high remains to be seen to validate this view & until then, a double correction lower in red wave 2 can’t be completely ruled out. Near-term, while dips remain above $1769.99 low and more importantly above $1646.48 low the stock is expected to resume the upside. We don’t like selling it and the right side remains to the upside.
NASDAQ:AMZNLong
by Elliottwave-Forecast
2
OIL Elliott Wave Analysis: Larger Correction Taking PlaceHello Traders, In this Elliott Wave Analysis, we will have a look at Oil. OIL short-term Elliott wave analysis suggests that the rally to $75.31 high ended in red wave III. Down from there, the larger correction in red wave IV is taking place in 3, 7 or 11 swings before Oil resumes higher. The internal of the first leg of the decline from $75.28 high took place in 5 wave’s impulse with internal distribution of 5 wave’s structure in lesser degree cycle. This suggests that the five waves down from $75.31 is part of a larger Elliott wave Zigzag correction within cycle degree wave IV pullback. Down from $75.31 high, the decline to $72.14 low ended blue wave (1) as a leading diagonal structure. Above from there, the bounce to 74.70 high ended blue wave (2) bounce as a Zigzag correction. Below from there, the decline to $69.23 low ended blue wave (3) in another 5 waves. Then the bounce to $71.66 high ended blue wave (4) bounce in 3 swings. The final decline from there unfolded in 5 wave’s structure which ended blue wave (5) at $67.04 low & also completed the black wave ((A)). Up from there, the instrument ended black wave ((B)) pullback at $71.11 and should continue the decline. As long as the market stays below $71.11 peak but more importantly below $75.31 peak, we expect Oil to continue lower. We don’t like selling it.
NYMEX:CL1!
by Elliottwave-Forecast
3
Finishing the 3rd wave on BTCHi Guys! Today, as usual, we are looking at the BTC/USD and to be on honnest it looks pretty good! During the third wave, we found a top at the trend line that was the support previously, and now I think we are retracing to the support, which is 7k, and we didn't test it yet, so let's see if it'll do it's work. I am trying a little sell here, but my SL is not far on that, it is a little big higher than the trend line (7600). Hope this analysis helped you, leave a like if yes, and don't hesitate to shares your ideas in the comments! Stay tuned Traders.
BITSTAMP:BTCUSDShort
by AstrolabeTrading
Finishing the 3rd Impulse Wave, now need a retraceWell that 3rd wave went up a bit higher and a lot faster than I expected. The bulls broke hard through the long term downtrend pink line. Now they need some good consolidation and retrace on the 4th wave to garner more support to get ready for the 5th wave. Ideally, the 4th wave retrace will drop back to the 6800-6900 level which should prove to be a good level of support now. Then the 5th wave will be free to move up to the 7800 level by Mid August. You can see I've then forecasted the abc correction wave back to the 6400-6600 level. This would be a really healthy sign representing a .618 fib level retracement by early September. Then we could begin another bull impulse wave through the previous resistance level of 7800 and go all the way up to 9200 level by October. Any other bullish EW folks have the same ideas? Have a great day!
BITFINEX:BTCUSDLong
by bluemt95
Oil 1 Hour Elliott Wave Analysis: Suggesting More DownsideHello Traders, In this Elliott Wave Analysis, we will have a look at Oil in the 1 hour chart. The commodity ended its cycle from 8/1/2016 low (39.19) at the peak of 07/03 in red wave III and currently, it is correcting that cycle in 3-7 or 11 swings in red wave IV lower before the rally can resume. Near-term it ended blue wave (W) at 07/12 low (69.23). The internals of blue wave (W) unfolded as an Elliott Wave flat structure where it ended red wave A at the low of 07/06 (72.15), red wave B pullback at 07/10 (74.71) and red wave C of blue wave (W) completed at 07/12 low (69.23). Above from there, blue wave (X) correction ended at 07/13 peak (71.66). Below from there it is at the 61.80-76.40 Retracement area from 07/03 peak which can end soon the cycle from 07/13 peak (71.66) in red wave A and as long as pullback in red wave B stays below 71.66 peak, we expect Oil to resume lower towards the equal legs of 65.62-64.19 from 07/03 peak before a reaction higher can be seen. We don’t like selling Oil.
NYMEX:CL1!Short
by Elliottwave-Forecast
1