Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

With Bitcoin recently breaking out to new all time highs the Crypto and Blockchain market has reached fever pitch. Future FinTech Group is a stock that has been consolidating since it peaked in July but is now breaking out. With this breakout an Incomplete Bullish Sequence has been created. Lets take a look at what the company does:

“Future FinTech Group Inc. is a leading blockchain technology R&D and application company incorporated in Florida. The operation of the Company includes a blockchain based online shopping mall platform, Chain Cloud Mall (“CCM”) , an incubator for blockchain based application projects, a digital payment system “DCON” and a cross-border e-Commerce platform "NONOGIRL". The Company is also engaged in development of blockchain based e-Commerce technology as well as financial technology.”

Lets dig into the charts!

Future Fintech Elliottwave View​

Longer term term view from the all time low in December 2019. There is a 5 waves impulse that peaked on 7/16/2020 @ a high of 3.74. After that, Red I peaked, and the stock was in a sideways correction/consolidation period for an extended amount of time. With the rally that took place today, it is favoured that the Red II has been set and Red III is underway. Moreover, the rally was very sharp today, and has entered into the blue box extreme area. This is an area where buyers and sellers usually enter for bounces and pullbacks. In this case, some profit taking may take place before further upside.

In Conclusion, the wave count is incomplete right now. A black ((1)) and ((2)) are preferred to take place before further upside. With a nesting ((1)) and ((2)) expected, we can look to higher targets once ((2)) is complete. if the 1.618 extension gets exceeded with momentum, the next fib area where a pullback can take place is at the 2.618 @ 10.29.

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.

Source: https://elliottwave-forecast.com/stock-market/future-fintech-group-ftft-incomplete-bullish-sequence/

 

[Elliottwave-Forecast]

Hello fellow traders. Soybeans ($ZS_F) has been giving us nice trading setups recently . In this blog, we’re going to take a quick look at the Elliott Wave charts of Soybeans ZS_F , published in members area of the website. ZS_F is showing impulsive sequences in the cycle from the April 808’0 low. We’ve been calling rally in Soybeans recommending members to keep buying the dips in 3,7,11 swings whenever chances occur . Recently the commodity made pull back that has given us nice long-trading opportunities again.

Soybeans ZS_F 1h Hour Elliott Wave Analysis 1.07.2020​

Soybeans is showing bullish sequences that are calling further rally. The commodity is bullish against the 1245.3' pivot in first degree. We got short term (ii) blue when the price has already reached equal legs from the peak at 1350'5-1336'5 ( buying zone). We don't like selling in any proposed leg down and favor the long side from the blue box area as far as the price stays above 1.618 fib ext 1336'5 .

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.

Soybeans ZS_F 1h Hour Elliott Wave Analysis 1.07.2020​

The commodity found buyers at the Blue Box zone : 1350'5-1336'5 as we expected. We got nice rally that has made break toward new highs. Members who took the long trades are now enjoying profits with Risk Free trades. Now ZS_F remains bullish against the 1301'2 pivot. We don't recommend selling and expect short term pull backs to keep finding buyers in 3,7,11 swings.

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



Elliott Wave Forecast
Source: https://elliottwave-forecast.com/commodities/soybeans-zs_f-bullish-calling-rally/

 

[Elliottwave-Forecast]

EURAUD is one of 78 instruments that we analyze here at EWF. For some time, we have recommended our clients to keep the downtrend in the pair and that it was preferable to look for sell the rallies than to buy them. We always operate in favor of the trend and the right side. Here is a small sequence of charts shown in the member's area in the months of December and January.

EURAUD 12.22.2020​

We labelled the peak at 1.625694 as wave 4 and the drop as wave ((i)). We were ready to sell the rally.

EURAUD 12.28.2020​

After to continue the downside we adjusted the chart and the new low we called as wave ((i)). We were ready to sell the next rally again.

EURAUD 12.31.2020​

The pair followed with the downtrend and ending 2020 we expected a low before selling the next rally.

EURAUD 01.05.2021​

The drop was deeper than expected, but same we sold the following rally as we showed and we expected more downside to break the last low of wave (3).

EURAUD 01.07.2021​

We were still surfing the pair and once again we were ready to sell the rally that we marked as wave 2 red.

EURAUD 01.08.2021​

And again, the decline continue as we expected.


We shorted EURAUD 4 times in a row in the 1.6200, 1.6100, 1.6000 and 1.5850 zones.

Source: https://elliottwave-forecast.com/forex/selling-rallies-euraud/

 

[Elliottwave-Forecast]

Ryanair Holding plc is an Irish low-cost airline holding. It consists of Ryanair DAC, Ryanair UK, Buzz and Malta Air. Founded in 1984 and headquartered in Dublin, Ireland, it is the largest European airline provider by the numbers of passengers. Investors can trade it under the ticker $RYA at London Stock Exchange, $RY4C at Euronext and also under $RYAAY at NASDAQ.

Ryanair DAC as the main part of the holding family is known for controversies, but the success of the airline, without any doubt, remains in its contemporary price policy model. Indeed, similarly to the company CEO O'Leary, rising numbers of customers see the main function of an airline today to bring passengers from A to B both safe and on-time, the same way as a taxi does. Recently, Ryanair has attracted a strong attention by promoting summer vacation flights. These can be booked now since, according to Ryanair, the Europeans should be already vaccinated by then. Will the anticipation of the 2021 traffic promote the stock price to the new highs?

Ryanair Monthly Elliott Wave Analysis 01.10.2021​

The monthly chart below shows the Ryanair stock $RYA traded at London Stock Exchange. From the all-time lows, the stock price is showing a cycle higher in blue wave (I) of super cycle degree. It has ended by printing the all-time highs in August 2017 at 19.78. After 5 waves higher in the wave (I), the correction in 3 swings lower within wave (II) has ended in March 2020 at 8.05.

From the March 2020 lows, a new cycle higher in blue wave (III) might be already in progress. Breaking above 19.78 highs from August 2017 will confirm that. The target for wave (III) will be 27.83-40.05 and even higher.

Ryanair Daily Elliott Wave Analysis 01.10.2021​

The daily chart below shows in more detail the first stages of the advance higher in wave (III). From the March 2020 lows at 8.05, the stock price is nesting. Firstly, one can see a leading diagonal in black wave ((1)) and a consolidation lower within wave ((2)). Then, another leading diagonal as a blue wave (1) and a wave (2) lower are forming a second nest within black wave ((3)). From the 11.27 lows, the advance higher might bea third nest. Indeed, price action in the world indices support this view. Now, it is a known feature of an unfolding impulsive price action to demonstrate an extension towards 1.618 of the previous first waves and even beyond. Therefore, prices can demonstrate soon an acceleration higher. This will surprise many observers amid the current COVID lockdowns in Europe.

Without any doubt, current stock price does possess a high attractivity for investors. While above 8.05 lows, they can anticipate Ryanair to break above 19.78 highs targeting 27.83-40.05 area.



Source: https://elliottwave-forecast.com/stock-market/rya-ryanair-stock-flying-2021/

 

[Elliottwave-Forecast]

In 2020 the capital market did not have mysteries in general, the collapse of March caused by an external agent of the financial market that commerce was interrupted, resulting in increased unemployment and company bankruptcies. In short, consumption slowed down and in certain industries it even stopped completely, such as tourism, aeronautics, fitness, etc. Therefore, we can define the behavior of the capital market in 2020 as before and after the announcement that COVID19 had become a pandemic.

After the drop in March, many markets tried to recover what they lost, some succeeded and widely outperformed others could not even reach the levels of March. In general, capital markets tend to be high correlation when the most important markets rise or fall, secondary markets do as well, but with greater or less intensity. For example, if the Japanese Nikkei rises 3%, it does not mean that the US SPX will rise the same 3% but it depends on the attractiveness of the market and it could rise only 1% or otherwise rise 4%. Ultimately, everything will depend on the economy of each country.

American Capital Market for 2021​

Given the depth of the corrective movement in March 2020, we can conclude that the new bullish cycle that began in 2009 has ended. The correction reached the area between 38.2% and 50.0% of Fibonacci, an area that theoretically speaking is enough to intuit the 2009 cycle concluded. The rebound started at the end of March 2020 is a new cycle and we are seeing it as an impulse. (For more information about Elliott Wave Theory please click in this link: Elliott Wave Theory) This impulse has already finished wave 1 and wave 2, and we are building wave 3. For this reason, wave 3 being the wave with the greatest strength within an impulse, it is most likely that in 2021 we will have a market clearly bullish.

We are currently building wave i and we should see a correction possibly in March or April, when we reach somewhere in the blue area. That correction should be wave ii of 3 and it should be the deepest of the entire year 2021. From then on, we should have a strong bull market with mild corrections to break above the 4600 levels.

Source: https://elliottwave-forecast.com/stock-market/capital-market-2021/

 

[Elliottwave-Forecast]

The COVID19 pandemic that currently remains has clearly revealed the world's most fragile economies. We need to look at the charts of a country's stock index and we have the answer where to invest. It is quite simple after the drop of March many economies were able to recover quickly, including by recording new historical peaks, but others have not been anywhere near recovering what has been lost since that month. This may be due to two factors:

1. COVID19 has hit the country's economy hard.

2. The country has not been able to recover because COVID19 has brought to light the fragility of its economy.

Invest in the Asian and Oceania Economy?​

Let's see the main indices of Asia and Oceania such as: Japan, China, Hong Kong, India, South Korea and Australia.



We can see how 4 countries have recovered from the drop in February, surpassing the peak with more than 18% yield. Here it is worth mentioning South Korea with a recovery of more than 42%, being the most interesting country to invest, but in general, Asian countries demonstrate a healthy economy.

Invest in the European Economy?​

We go to take a look at the indices of Europe such as: Germany, France, England, Italy, Spain and Switzerland.



In Europe, the situation is totally different. Only the German DAX was able to recover after 10 months, showing that Europe has serious economic problems. Spain is the worst of these, with a negative return of 16%.

Invest in the American Economy?​

Let's see the main indices of America such as: United States, Canada, Mexico, Brazil and Argentina.



In America, all the countries considered for the analysis were able to exceed the value lost in February 2020, with Argentina and the United States being the best performers.

In conclusion after a brief look at the charts, now Europe is not a place to invest apparently, they still have some hangovers from the financial crisis of 2008 and have not been able to fully recover. While the other countries are attractive for investment, South Korea being the most interesting of all. And this is not due to the severity of COVID19 in the different countries. Look at the USA, India and Brazil, the most affected by the virus have been able to recover the losses.

Source: https://elliottwave-forecast.com/stock-market/covid19-country-invest/

 

[Elliottwave-Forecast]

Short Term Elliott Wave view suggests the rally from September 24, 2020 low in Silver ended wave ((1)) as a leading diagonal. Pullback in wave ((2)) is now in progress as a zigzag Elliott Wave structure. Down from wave ((1)) high, wave 1 ended at 26.58 and bounce in wave 2 ended at 27.35. The metal then extended lower in wave 3 towards 24.45, and bounce in wave 4 ended at 25.5. Final leg lower in wave 5 ended at 24.31. This completed wave (A) of the zigzag in higher degree.

Bounce in wave (B) is currently in progress to correct the decline from January 6 high as a zigzag in lower degree before the decline resumes. Up from wave (A0 low at 24.31, wave ((i)) ended at 25.23 and wave ((ii)) ended at 24.52. The metal resumed higher and ended wave ((iii)) at 25.61. Pullback in wave ((iv)) ended at 25.08. Expect the metal to end wave ((v)) of A soon, then pullback in wave B before another leg higher in wave C to end wave (B). Afterwards, as far as pivot at 27.92 high remains intact, Silver has scope to extend lower.

Silver 60 Minutes Elliott Wave Chart​

Source: https://elliottwave-forecast.com/news/elliott-wave-view-silver-still-consolidating-gain-2020/

 

[Elliottwave-Forecast]

In this technical blog, we are going to take a look at the past performance of 4 hour Elliott Wave Charts of GDX, which we presented to members. In which, the rally to 05 August 2020 peak unfolded in an impulse structure. Down from there, GDX made a pullback lower to correct the cycle from the 16 March 2020 low. Also, the right side tag pointed higher & favored more strength. Therefore, we advised our members to buy the dips in GDX in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

GDX 4 Hour Elliott Wave Chart​

Above is the 4hr Elliott wave Chart of GDX from the 11/28/2020 weekend update. In which, the ETF made a pullback against the 16 March 2020 low. The internals of that pullback unfolded as an Elliott wave double three structure where wave (W) ended at $37 low. Up from there, the GDX made a bounce higher & ended wave (X) at $41.93 high as a lesser degree flat structure. Down from there, the GDX made a (Y) leg lower & managed to reach the $33.13- $27.70 100%-161.8% Fibonacci extension area of (W)-(X). From there, buyers were expected to appear looking for more upside or for 3 wave reaction higher at least.

GDX Latest 4 Hour Elliott Wave Chart​

Here’s 4 hour Elliott Wave Chart from the 1/13/2021 update, in which the ETF showing a reaction higher from the blue box area at $33.13- $27.70. Allowed members to create a risk-free position in the last bounce shortly after taking the longs at the blue box area. However, a break above the 05 August 2020 peak ( $45.78) still needed to confirm the next extension higher & avoid double correction lower.

Source: https://elliottwave-forecast.com/stock-market/forecasting-bounce-higher-gdx/

 

[Elliottwave-Forecast]

Back in Late September, I analyzed Camping World Holdings. At the time, I was expecting the correction to complete soon, in the extreme area. Here's the chart that I posted back then and now an updated chart showing the blue box extreme where buyers entered.

Camping World Holdings September 30/2020 view:​

Camping World Holdings 4H January 2021 view:​

The main thing to take away from this chart is this the power of the extreme area blue boxes. Elliottwave doesn't predict time, but Fibonacci extreme areas are able to predict price. The reason this works is because these are the areas where the Algo's are programmed to react. We are simply piggy backing on top of algo programming. The key to successful trading is letting the market speak and remembering we do not control the market. We need to work with the Algo's and Market Makers. Now that you have seen the blue box work, lets zoom into the 1H short term view.

Camping World Holdings 1H View:​

CWH is in the middle of another extreme area where a pullback can take place, this is favoured to be where Red 3 has peaked. One more high will meet the minimum number of swings needed from the ((2)) low. After that, a correction in Blue (2) is favoured, creating a triple nest stricture. Which is Red I and II, Black ((1)) and ((2)), and Blue (1) and (2).

In Conclusion, after blue (2) is set, this stock should be ready to break out in a Wave 3. There is another blue box equal leg extreme above Red I. This is the 63-88 area, an area where a pullback can take place. Once prices break out above Red I, that will be the next target on the upside.

Source: https://elliottwave-forecast.com/stock-market/camping-world-holdings-cwh-power-blue-box/

 

[Elliottwave-Forecast]

The $BEL20 Index Longer Term Bullish Cycles and Swings

Firstly the BEL20 Index has trended higher with other world indices since the benchmark was established. The index remained in a long term bullish trend cycle into the May 2007 highs. From there it made a sharp correction lower that lasted until March 2009 similar to other world indices. That is where the index corrected the whole long term bullish cycle from the all time lows. At this point is where this bullish trend, cycle and swing analysis begins. The analysis continues below the monthly chart.

BEL20 Monthly Chart



Secondly, the 2009 lows corrected the whole longer term cycle higher from inception in the benchmark index. The bounce from the March 2009 lows into the January 2018 highs was a clear five swing impulse. The pullback lower from that high is strong enough to suggest it is correcting the whole cycle up from the March 2009 lows. This is determined by reading the RSI and other momentum indicators.

Thirdly, previously mentioned earlier, the pullback from the January 2018 high to the December 2018 lows was strong enough to suggest it is correcting the cycle up from the March 2009 lows. At this point the index could have possibly completed a corrective sequence against the uptrend however some related instruments suggested an otherwise deeper pullback. After another high was seen in February 2020 it did the next swing lower into the March 2020 lows which appeared to have completed an expanded flat from the January 2018 highs.

In conclusion, this expanded flat is a typical and common Elliott Wave corrective structure. Previously mentioned earlier, this is corrected the cycle from the 2009 low. At this point in time from the March 2020 lows it appears the index has five waves up as well as a smaller degree five waves in a nested series of wave one's and two's. Ideally while pullbacks remain above the October 2020 lows the index can resume the longer term bullish trend higher.

Source: https://elliottwave-forecast.com/stock-market/the-bel20-index-longer-term-bullish-cycles-and-swings/

 

[Elliottwave-Forecast]

The $CAC40 Longer Term Bullish Swings and Cycles

Firstly the CAC 40 index has been trending higher with other world indices where in September 2000 it put in an all time high. From there it followed the rest of the world indices lower into the March 2003 lows which was a larger degree pullback. From there the index rallied with other world indices again until June 2007. It then corrected that rally again as did most other world stock indices. It ended this larger degree correction in March 2009. From those 2009 lows, the index shows an incomplete swing sequence that favors further upside.

Secondly, in February 2020 the uptrend cycle from the March 2009 lows ended with the pullback into the March 2020 lows. While above there the next longer term target area is highlighted on the chart. The analysis continues below the chart.

$CAC40 Index Monthly Chart



The target extension areas are measured as per the following. Use a Fibonacci extension tool on a charting platform. On this chart, point 1 will be at the beginning of the cycle at the March 2009 lows. From there on up to the February 2020 highs will be point 2. The point 3 will be down at the March 2020 lows. The extension areas shown are the same as long as price remains above those March 2020 lows. As of now, the index appears to have an Elliott Wave impulse higher in progress that appears to be nested wave one's and two's in the cycle from the March 2020 lows. If so ideally pullbacks should remain well above the October 2020 lows while continuing the trend higher.

Lastly in conclusion, the extension areas higher shown on the chart is the next areas of interest the index should be able to reach during this period of multiple world indices bullish trends higher.

Source: https://elliottwave-forecast.com/stock-market/the-cac40-longer-term-bullish-swings-and-cycles/

 

[Elliottwave-Forecast]

Kospi Longer Term Bullish Sequence & Swing Count

The KOSPI Index in the long term has been trending higher with other world indices since inception in 1983. The index began with a base value set at 100 and trended higher until it ended that cycle in 1994. The index then corrected that cycle with the dip into 1998 lows during the Asian Financial Crisis. From the 1998 lows the index did three bullish swings higher into the November 2007 highs. The pullback from there until October 2008 was strong enough to suggest it was correcting the whole cycle up from the June 1998 lows.

Secondly I would like to mention this is a swing count. It is not an Elliott Wave count. However I have put my thoughts on the chart as to the highs and lows regarding larger degree impulse sequence highs and lows. As per the rules an impulse travels in the direction of the trend in 5-9 or 13 swings. When the bullish trend renewed to the April 2011 highs it reached the .618-.764 Fibonacci extension of the June 1998 to November 2007 cycle. This is a usual area for a 5th swing of a cycle. The 6th swing dip to the March 2020 lows corrected that cycle up from the June 1998 lows. The analysis continues below the chart.

Kospi Monthly Chart





Thirdly, how these extension areas are measured. Take the Fibonacci extension tool on a charting platform. On this chart, point 1 will be at the beginning of the cycle at the 1998 lows. From there on up to the 2011 highs will be point 2. The point 3 will be down at the 2020 lows. The extension areas shown are the same as long as price remains above the 2020 lows.

Lastly in conclusion the bounce from the 1998 lows ended a cycle in April 2011. It actually made another high afterward however the dip to the March 2020 lows was strong enough to suggest the 2018 high was part of a larger correction as the strong pullback to the March 2020 lows corrected the cycle from the 1998 low. In the near term pullbacks should remain well above the 2020 lows and progress higher should continue.

Source: https://elliottwave-forecast.com/stock-market/kospi-longer-term-bullish-sequence-swing-count/

 

[Elliottwave-Forecast]

Adidas is a German multinational corporation designing and manufacturing shoes, clothing and accessories. Created in 1934 by Adolf Dassler and headquartered in Herzogenaurach, Germany, the company is the largest sportswear manufacturer in Europe. Adidas is a part of both DAX30 and of SX5E indices. From the all-time lows, Adidas is showing a strong bullish behavior. In particular, from the 2008 lows it has gained more than 10x in value. In this blog, we show that the rally should continue.

Adidas Monthly Elliott Wave Analysis 01.17.2021​

The monthly chart below shows the Adidas stock $ADS traded at XETRA. From the all-time lows, the stock price has developed a cycle higher in blue wave (I) of super cycle degree towards January 2008 highs at 51.63. From there, a correction lower in blue wave (II) has retraced part of the rise. It has printed a bottom on November 2008 at 21.22. From November 2008 lows, a cycle in wave (III) has extended towards August 2019 highs at 296.75. Hereby, the extension beyond 4.236 qualifies the cycle as a 3rd wave. From the August 2019 highs, a correction lower in wave (IV) has unfolded as an expanded flat structure towards the March 2020 lows at 162.20.

From the March 2020 lows, a new cycle in wave (V) is in progress and should break to the new all-time highs. The minimum target higher is 328.80 which is based on the 1.236 inverse Fibonacci ratio as related to the length of the wave (IV). However, there is no sealing on the upside. Therefore, long-term investors can expect Adidas to remain strong and go far beyond 328.80 target.

​

Adidas Daily Elliott Wave Analysis 01.17.2021​

The daily chart below shows in more detail the advance higher in red wave I of blue wave (V). From the March 2020 lows at 162.20, a cycle higher in black wave ((1)) has unfolded as a leading diagonal. It has printed its top in September 2020 at 290.00. A correction lower in black wave ((2)) has been accomplished on 30th of October. Later on, a wave ((3)) higher has been confirmed by breaking above 290 highs. Now, while above 253.50, wave ((3)) can continue higher and reach towards 1.0-1.618 extension of the wave ((1)) being 380.03-458.35 and even higher in case of an impulse in wave I. On the other hand, a diagonal in wave I can provide a more conservative target which is 0.618-0.786 extension of the wave ((1)) being 331.62-352.91.



Source: https://elliottwave-forecast.com/stock-market/adidas-stock-continue-jogging-higher/

 

[Elliottwave-Forecast]

Pound sterling continues to gain against other major currencies as the risk of a hard Brexit is now off-table. Last week, the currency also got a boost after Bank of England ruled out negative interest rate anytime soon. The Brexit issue has dominated the past few years. However, Pound Sterling now may finally start to react to domestic drivers on the economy and monetary policy.

The currency further gained support due to the optimism of UK's vaccination programme. UK is one of the first countries which starts a vaccination program in a race to contain the more contagious variant of coronavirus. The government aims to vaccinate 15 million people by mid February and millions more by spring. Then by autumn, the rest of the adult population will receive vaccination.

With vaccines being rolled out at an accelerating pace and the expectations that there will be easing on the lockdown from March, the likelihood of interest rate cut and negative interest rate has dropped. Pound Sterling is expected to find support as the UK economy recovers in Spring and Bank of England steps further away from cutting interest rates.

EURGBP Daily Chart​

Daily chart of EURGBP above shows that the pair has broken below the trend line support from 4.30.2020 low. In addition, it shows an incomplete bearish sequence from 9.11.2020 high and 12.11.2020 high, calling for more downside. A 100% - 161.8% extension from 9.11.2020 peak calls for a move lower towards 0.8538 - 0.8801. Another possible target is a 100% - 161.8% extension from 12.11.2020 peak which calls for a move lower to 0.8608 - 0.879.

Source: https://elliottwave-forecast.com/forex/uk-vaccine-programme/

 

[Elliottwave-Forecast]

With Bitcoin recently breaking out to new all time highs the Crypto and Blockchain market has reached fever pitch. Riot is a stock that has been consolidating since it peaked from January 8th. One more swing lower may be coming before further upside takes place. lets take a look at what they do:

“Riot Blockchain is focused on supporting the bitcoin ecosystem through proof-of-work mining. We are believers in the bitcoin opportunity and our continued efforts aimed at growing our mining operation demonstrates our commitment to the bitcoin network.

Riot is one of the largest U.S. based publicly-traded bitcoin miners in North America and we are constantly working to improve our efficiency and production.”

Lets dig into the charts!

Riot Blockchain 480m chart:​

Medium term term view from the all time low in March 2020 for $MARA is very much the same for $RIOT. There is enough evidence to support an extended wave III in progress. Blue (3) is favoured to have peaked on January 8th at 29.36 with blue (4) now in progress. BTC seems to be forming a wave 4 triangle, so it is possible that RIOT does not move lower for blue (4). Regardless, it is important to know, the right side is higher, we do not like to short this instrument but like to buy pullbacks in 3, 7 or 11 swing to extremes.

In Conclusion, blue (4) may still be in progress, but depending on Bitcoin, a triangle may be in progress. Regardless we do not like to trade the sideways zones but like to trade extreme areas.

Source: https://elliottwave-forecast.com/stock-market/riot-blockchain-riot-extension-higher/

 

[Elliottwave-Forecast]

With Bitcoin recently breaking out to new all time highs the Crypto and Blockchain market has reached fever pitch. Mara is a stock that has been consolidating since it peaked from January 8th. One more swing lower may be coming before further upside takes place. lets take a look at what they do:

“Marathon is a digital asset technology company that mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets. We currently operate our proprietary Data Center in Hardin MT with a maximum power capacity of 105 Megawatts. Once fully deployed, the Company will have 21,500 Antminer Bitmain S-19 Pro Bitcoin Miners in operation at this facility. The Company also owns 2,060 advanced ASIC Bitcoin Miners at a co-hosted facility in North Dakota.”

Lets dig into the charts!

Elliottwave view 480 minute:​

Medium term term view from the all time low in March 2020. There is enough evidence to support an extended wave III in progress. Blue (3) is favoured to have peaked on January 8th at 29.23 with blue (4) now in progress. BTC seems to be forming a wave 4 triangle, so it is possible that MARA does not move lower for blue (4). Regardless, it is important to know, the right side is higher, we do not like to short this instrument but like to buy pullbacks in 3, 7 or 11 swing to extremes.

In Conclusion, blue (4) may still be in progress, but depending on Bitcoin, a triangle may be in progress. Regardless we do not like to trade the sideways zones but like to trade extreme areas.

Source: https://elliottwave-forecast.com/st...t-group-inc-mara-incomplete-bullish-sequence/

 

[Elliottwave-Forecast]

Short Term Elliott Wave view in S&P 500 (SPX) suggests the Index ended wave 1 at 3726.70 and pullback in wave 2 ended at 3636.48. Internal of wave 2 unfolded as a zigzag. Wave ((a)) ended at 3685.84, wave ((b)) ended at 3716.65, and wave ((c)) ended at 3636.48. Index has resumed higher in wave 3 with the internal subdivision as a 5 waves impulse. Up from wave 2 low, wave (i) ended at 3679.99 and dips in wave (ii) ended at 3662.71. Index then resumed higher in wave (iii) towards 3824.40, and pullback in wave (iv) ended at 3783.60. Final leg higher wave (v) ended at 3826.69. This completed wave ((i)) in larger degree.

Wave ((ii)) pullback ended at 3750.40 and the Index has resumed higher again. Up from wave ((ii)), Index rallies in a short term impulsive structure and can see one more high before ending wave (i). It should then pullback in wave (ii) to correct cycle from January 15 low before the rally resumes. As far as wave ((ii)) pivot at 3750.4 stays intact, expect dips to find support in 3, 7, or 11 swing for more upside.

S&P 500 (SPX) 45 Minutes Elliott Wave Chart​

Source: https://elliottwave-forecast.com/news/elliottwave-view-spx-upside-move-resumed/

 

[Elliottwave-Forecast]

Hello fellow traders. USDNOK is another instrument that has given us nice trading opportunity lately . As our members know the pair is bearish against the 9.6147 peak and recently it has found sellers in the recovery against the mentioned high. In this technical blog we’re going to take a quick look at the charts of USDNOK published in members area of the website and explain the Elliott Wave structure and trading strategy.

USDNOK Elliott Wave 4 Hour Chart 1.18.2021​

Cycle from the 9.61476 peak shows 5 waves. Current view suggests The Pair is correcting the cycle from the 9.61476 peak. Recovery is having form of Elliott Wave Zig Zag Pattern that should ideally complete at 8.64316-8.78709 area . We should be aware that sellers zone is already reached and turn can happen any moment . At the Blue Box area sellers should ideally appear for decline toward new lows ideally. As the main trend is bearish we expect to see at least pull back from the marked zone. Once the price reaches 50 fibs against the B red low, we should make short positions risk free. As our members know Blue Boxes are no enemy areas , giving us 85% chance to get a reaction.

You can learn more about Elliott Wave Zig Zag Patterns at our Free Elliott Wave Educational Web Page.

USDNOK Elliott Wave 1 Hour Chart 1.19.2021​

USDNOK found sellers right at the blue box : 8.64316-8.78709 area. The pair gave us nice decline from there. At the moment the price has already reached 50 fibs against the B red low. Members who sold the pair at the blue box area now enjoying profits in a risk free trades. Now, we expect to see further separation down from the 8.64407 peak . We would need to see break of 01/8 low to confirm next leg down is in progress.

USDNOK Elliott Wave 4 Hour Chart 1.22.2021​

As we can see on the chart below, the pair made nice decline from the blue box. We should be aware until the pair breaks below 01/8 low, it still can make 7 swings up against the 9.6147 peak.

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.



Source: https://elliottwave-forecast.com/trading/usdnok-found-sellers-blue-box-zone/

 

[Elliottwave-Forecast]

Continental is a German multinational automotive parts manufacturing company. It is specializing in brake systems, interior electronics, tachographs, automotive safety, powertrain and chassis components, tires and other parts for the automotive and transportation industries. Founded in 1871 and headquartered in Hanover, Germany, Continental is a part of DAX30 index. From the all-time lows, the stock price is showing a series of nests. It is expected to accelerate higher towards the new all-time highs.

Continental Monthly Elliott Wave Analysis 01.24.2021​

The monthly chart below shows the Coninental stock $CON traded at XETRA. From the all-time lows, Continental has developed a cycle higher in black wave ((I)) of a grand super cycle degree. It has printed the top on July 2007 at 108.18. From there, a correction lower in black wave (II) has retraced 90% of the rise. Hereby, it has found its bottom on February 2009 at 9.79.

Later on, from Febraury 2009 lows, a cycle in wave ((III)) higher has been confirmed by breaking above 108.18 highs. The advance towards 234.25 highs in March 2015 has extended beyond 1.618 of the wave ((I)). On the one hand, the rise could be all of the wave ((III)). On the other hand, the RSI reading tells a contrary story. Indeed, the RSI reading of the top is lower than that of the wave ((I)). As a conclusion, this suggests that the advance is only the 1st wave of the wave ((III)), i.e., blue wave (I).

From the March 2015 highs, a correction lower as an expanded flat in blue wave (II) has bottomed in March 2020 at 51.45. From there, the wave (III) of ((III)) might be in first stages and should break to new all-time highs. The target higher for the wave (III) is the 1.0-1.618 extension of the wave (I) being 276.86-416.20 area and even higher.

Continental Daily Elliott Wave Analysis 01.24.2021​

The daily chart below shows the advance higher in black wave ((1)) of red wave I of blue wave (III). First, from the March 2020 lows at 51.45, a cycle higher in blue wave (1) has unfolded as a leading diagonal. It has printed its top in October 2020 at 103.90. Then, a correction lower in blue wave (2) has been accomplished on 30th of October at 88.50. From the lows, the wave (3) higher has been confirmed by breaking above 103.90 highs. Now, while above 88.50, wave (3) should extend further and reach towards 1.0-1.618 extension of the wave (1) being 141.07-173.44 and even beyond.

The pullbacks should find support above 88.50 lows. Right now, while below 123.60, $CON can fall lower into 111.86-104.52 blue box extension area where buyers may enter the market for a rally in minor wave 3 or for a bounce in 3 waves at least.



Source: https://elliottwave-forecast.com/stock-market/automotive-continental-accelerate-higher/

 

[Elliottwave-Forecast]

Deutsche Lufthansa AG is the largest German airline and behind Ryanair the second largest company in Europe in terms of the number of passengers. Founded in 1926 and headquartered in Cologne, Germany, it can be traded under the ticker $LHA at XETRA in Frankfurt. Besides its own services, Lufthansa owns Austrian Airlines, Swiss International Airlines, Brussels Airlines and Eurowings as subsidiaries. However, since 2018 highs, the stock price of Lufthansa was in a steady decline. Today, many observers relate the price fall to the economic struggling of the company following the COVID-19 lockdowns through Europe. However, downside stock price action does not fit well with the travel restrictions and lower numbers of passengers since the price correction has started 2 years before the first COVID-19 case.

Back in April 2020, we have provided Monthly, Weekly and Daily views on Lufthansa stock. We have shown that another marginal new low should take place. As a matter of fact, a new low towards 6.84 has happened. Currently, buyers can expect the uptrend to resume... despite lockdowns and travel restrictions.

Lufthansa Weekly Elliott Wave Analysis 01.24.2021​

First, the supercycle wave (I) has printed the all-time highs at 31.26 on January 2018. The structure of the rise has been shown in April 2020 article. Now, the Weekly chart below shows the entire correction of that cycle from the January 2018 highs in the blue wave (II) lower. The decline has unfolded as a double zigzag correction pattern, i.e., a 7 swings structure.

The red wave w has ended on October 2018, a connector in red wave x has printed its top on February 2019. From there, the 5th swing lower in black wave ((A)) has ended on August 2019 opening up a bearish sequence. After a bounce as a swing #6 in wave ((B)), the 7th swing lower in black wave ((C)) has extended lower and should have ended in September 2020 at 6.84 lows. The red wave y of blue wave (II) has already reached the extension area towards 9.49-0.66. There, buyers should have entered the market and can expect the blue wave (III) to extend towards the 31.26 highs and even beyond.

Lufthansa Weekly Cycle Analysis 01.24.2021​

The supplementary chart below shows the ramping up price action through the trendlines. Hereby, no labels are necessary to understand the begin and the end of the cycles. First of all, the 5 waves cycle from November 2019 highs is the blue trajectory in the chart below. The price action has broken above the blue dashed trendline. That is a proof that the cycle from November 2019 highs has ended.

Secondly, the 3 waves cycle lower from February 2019 highs is the black trajectory. The break above the black dashed trendline provides a confirmation that also the February 2019 cycle has ended. Now, the red dashed trendline is still holding. Technically, Lufthansa may still break below 6.84 lows. However, that action will open a bearish sequence against December 2020 highs forcing additional 3 swings lower along the black trajectory. As a consequence, the price target will fall under the zero line. The lack of space, however, makes that scenario very unprobable.

Analyzing the structure of the rise, the 5 waves up from the September 2020 lows require at least another swing higher. That swing, in fact, will most probably break above the red dashed trendline. Once it happens, the cycle lower in 3 swings from the January 2018 highs corresponding to the red trajectory will be accomplished. Hence, the entire correction from the all-time highs in blue wave (II) will end.

Lufthansa Daily Elliott Wave Analysis 01.24.2021​

The daily chart below shows in more detail the advance in blue wave (1) from the September 2020 lows at 6.84. Hereby, one can clearly see an impulse higher. As a matter of fact, red wave 3 has extended beyond 1.618 multiples of the red wave 1. The motive wave (1) has ended on December 2020 at 11.29 highs. Currently, the blue wave (2) is correcting lower the September cycle and should find support in 3, 7 or 11 swings above 6.84 lows. In shorter cycles, 3rd swing lower in red wave C of (2) should find support from 9.38-8.48 blue box area for a rally in wave (3) towards 11.29 and higher or provide a 3 waves bounce at least.



Source: https://elliottwave-forecast.com/stock-market/lufthansa-ramping-lockdowns/