Elliottician

Elliottician

As described in my last chart, Boeing has taken support at the bottom zone. We can long go long confidently at this level for a target of 159.08 which is equal to wave 1. There is a good possibility that we are in the early stage of wave 3 which can have explosive moves to the upside. This call is for those who want to prefer long trades in the coming week. Cheers

Elliottician

Since wave 3 was sharp and deep, we can take into consideration that the fifth wave has failed(truncated wave). From there, we have five waves to the upside and three waves downside in a zigzag formation. Prices have reacted to the 61.8 percent fibonacci levels from the 5th wave. We can see prices go till 17.40 if the trend resumes on the upside. The targets will...

Elliottician

An Elliott wave count shows that we may have started the fifth wave to the upside. If that is indeed the case, we are in the second wave of the fifth wave and we will see a very sharp move to the upside if we take support at any of the zones. Keep track of this chart if you plan on going long anytime soon in the next week.

Elliottician

We have either completed a wave 4 formation in Apache Corp or in the process of waiting for the completion of a diagonal which may have a small move to the upside. But overall, we can look for shorts in Apache Corp for the fifth wave. Cheers.

Elliottician

Go long in GE with a RR ratio of 5:1 .. It definitely looks like we are in the fifth of fifth wave

Elliottician

All the counts are based on fibonacci extensions. An alternate wave count may show us that we are in the third of a Cwave which will be validated only if prices reach below 1.3936. Till then maintain a bullish scenario. Right now, the price is at exactly 61.8% retracement from wave (ii) of the previous degree. A buy at this point and a stoploss of 22 pips and take...

Elliottician

Fifth of third wave -- current position

Elliottician

We are currently in a 4th corrective wave and will see a downside after a downwards bounce from the fib levels.

Elliottician

fifth wave in progress

Elliottician

Third wave

Elliottician

On the 2H chart: 1) Currently fifth wave forming. On the 15 min live chart: 1) The third wave of the third wave forming. 2) Uptrend-line broken to the downside. 3) The current wave retraced to 38.2% of wave 2 4) This particular high probability trade has a risk:reward ratio of 5.4:1