Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

Long Term Cycles and Elliott Wave Uptrend $EWC

Firstly the EWC instrument inception date was 3/12/1996. The Canada ETF seeks to track the investment results of an index composed of large and mid-sized companies in Canada. This is of course reflected in the price. The best Elliott Wave reading of the long term cycles presume some lower prices that did not exist prior to the ETF fund inception date.

Shown on the monthly chart, the bullish cycle from all time lows is believed to have ended in November 2007. This is mostly in line with many other broad based ETF’s and indices that ended larger cycles near that time. Likewise the steep pullback lower into the March 2009 lows replicated the pullbacks in other ETF & indices instruments. This pullback was strong enough to suggest it had corrected the cycle up from the all time lows. The analysis and commentary continues below the monthly chart.





Secondly the bounce from the March 2009 lows has now got back above the November 2007 highs. However this compared to other indices instruments it is lagging. That’s not to say it will not catch up it is just the way it works out. EWC bounces higher as related indices instruments are going higher. However as of lately at a slower pace. Similarly, the instrument corrects cycles in pullbacks lower when the related instruments are doing the same.

The analysis and conclusion as mentioned earlier; Price has got above the November 2007 highs as the above chart shows. The cycles remain bullish nearer term while pullbacks remain above the March 2020 lows. The instrument should proceed higher with the related other countries ETF’s and indices reflecting the improvements in the progression of mankind.

Source: https://elliottwave-forecast.com/stock-market/long-term-cycles-and-elliott-wave-uptrend-ewc/

Post automatically merged: Mar 1, 2022

Long Term Cycles & Elliott Wave Analysis $FXF

Firstly there is data back to when the ETF fund began in 2006 as low as 78.43. Data correlated in the USDCHF foreign exchange pair suggests the FXF high in August 2011 is also the lows of a cycle lower from the all time in the USDCHF. In this instrument there is data available back to 1971 when the exchange rate was 4.3180.

The FXF instrument reflects the price swings of the currency pretty well since inception and as previously mentioned the instrument made a high in August 2011. This where the analysis begins on the monthly chart shown below. The correction from those highs appears to be a an Elliott Wave double three structure. The analysis continues below the monthly chart.



Secondly, as earlier mentioned the decline from the August 2011 highs appears to be an Elliott Wave double three structure. In the second swing of a double three Elliott Wave structure, it generally will reach a price where it is equal to the first swing. When a cycle ends it will show in momentum indicators usually before price makes it obvious. These cycle highs and lows are in the blue color as shown on the chart above (w)-(x). The correction of the January 2015 cycle ended January 2021 in wave b (red). While a bounce remains below there it can see the 70.95 area before a larger bounce higher.

I will mention how this target area lower is obtained in conclusion. Take a Fibonacci extension tool on your chart platform. Beginning at the August 2011 highs as point 1, trace down to the January 2015 lows where the blue (w) is for point 2. Now trace back up to January 2015 blue wave (x) highs for point 3. This will give the equal legs area for (y) (not shown) at 70.95.

Source: https://elliottwave-forecast.com/stock-market/long-term-cycles-elliott-wave-analysis-fxf/

 

[Elliottwave-Forecast]

Nokia is a Finnish multinational telecommunications, consumer electronics and information technology company. Founded 1865, it is headquartered in Espoo, Finland. Investors can trade it under the ticker $NOKIA at Nasdaq Nordic OMX and at Euronext Paris. The company is a part of Euro Stoxx 50 (SX5E) index. Also, one can trade Nokia under the ticker $NOK in US in form of ADRs. Today, Nokia is employing more than 100’000 people, it is doing business in more than 130 countries and it is the world’s third-largest network equipment manufacturer.

In the initial article from October 2020, we have forecasted a rally for the coming years. Indeed, from October 2020 to January 2022 the price has advanced by 60% from 3.60 to 5.77. Currently, short-term pullback provides an opportunity to enter the market for an acceleration higher. Here, we provide an update.

Nokia Monthly Elliott Wave Analysis 03.02.2022​

The monthly chart below shows the Nokia shares $NOKIA traded at Nasdaq Nordic OMX Exchange. From the July 2012 lows at 1.30, the stock price has developed a cycle higher in wave I towards 7.86 highs on April 2015. After the primary impulse higher, a double three correction lower in wave II has ended on March 2020 at 2.06.

From the March lows, a new cycle in wave III of (I) may have started to the new highs. Break of 7.86 highs would confirm that. As of right now, $NOKIA might be finishing the initial nest consisting of black waves ((1)-((2))) within the red III. Soon, acceleration higher within wave ((3)) of III should take place. The target for wave III is 8.66-12.72 area and even higher.

Nokia Daily Elliott Wave Analysis 03.02.2022​

The daily chart below shows the $NOKIA shares price action in more detail. From the March 2020 lows at 2.06, the stock price has advanced in a black wave ((1)) towards January 2022 highs at 5.77. The pattern is a leading diagonal. From the January top, a decline in 7 swings is currently in progress. We see a lower low which is called a short-term bearish sequence. Therefore, more downside is expected. The pullback in black wave ((2)) should find buyers from 4.34-3.72 blue box area. There, an acceleration higher within black wave ((3)) of red wave III should take place.



Source: https://elliottwave-forecast.com/stock-market/nokia-acceleration-pullback/

 

[Elliottwave-Forecast]

Deutsche Telekom AG is a German telecommunications company and by revenue the largest telecommunications provider in Europe. Formed in 1995 and headquartered in Bonn, Germany, the company operates several subsidiaries worldwide. Deutsche Telekom is a part of both DAX30 and of SX5E indices. Even though the stock is highly appreciated by investors, the stock price has seen better times. As a matter of fact, it has not recovered after a strong decline from the all-time highs in 2000 at 104.90.

Now, a closer look on the price action of the stock provides insights on the further development. Indeed, from 2012 lows one can observe a long base forming. In the initial article from November 2020, we have forecasted a breakout above the May 2017 highs at 18.15 to happen. Indeed, from 14.84 in November 2020, the stock has reached 18.92 in August 2021. Now, short term-pullback provides an opportunity.

Deutsche Telekom Monthly Elliott Wave Analysis 03.04.2022​

The monthly chart below shows the Deutsche Telekom stock $DTE traded at XETRA. From the all-time lows, the stock price has developed a cycle higher in black wave ((I)) of grand super cycle degree towards the all-time highs on March 2000 at 104.90. From the highs, a correction lower in black wave ((II)) has unfolded as an Elliott wave zigzag pattern. It has printed an important bottom on June 2012 at 7.69.

From June 2012 lows, a new cycle in wave ((III)) has already started and should extend towards 104.90 highs and even higher.

Deutsche Telekom Weekly Elliott Wave Analysis 03.04.2022​

The weekly chart below shows in more detail the first stages of the advance higher in wave ((III)). From the June 2012 lows at 7.69, red wave I has developed an impulse higher (not shown) towards May 2017 highs at 18.15. From the peak, a double correction lower in wave II has ended in March 2020 at 10.40 lows. The price has literally bounced higher in an impulsive move out of the 11.32-10.03 equal legs extension area.

From the March 2020 lows, the black wave ((1)) has printed a top at 18.92 in August 2021. Now, we have a bullish sequence. Therefore, a pullback in wave ((2)) provides an opportunity to enter the market for an acceleration higher in wave ((3)) of III. Currently, we see an extension area lower based on the connector wave (B) of ((2)) towards 14.26-12.07 area. There, buyers can enter the $DTE stock targeting 20.85-27.32 area and higher.

In a long run, investors can anticipate Deutsche Telekom to break to new all-time highs above 104.90.



Source: https://elliottwave-forecast.com/stock-market/buying-pullback-deutsche-telekom/

Post automatically merged: Mar 4, 2022

When I previously Arcimoto, back in July 2021, the stock looked promising for the next leg higher. The market had yet to confirm the view and the 7.27 low needed to hold. The market had other ideas and invalidated that low, which sets up the next potential bottom currently present in this chart. In summary, Arcimoto is an electric vehicle company headquartered in Eugene, Oregon. Arcimoto manufactures and sells the Fun Utility Vehicle, or FUV, a tandem two-seat, three-wheeled electric vehicle. They also sell van-variations on the design “Rapid Responder” for emergency services, and “Deliverator” for last-mile deliveries. With that out of the way, lets take a look at the last summer view:

Arcimoto Elliottwave View July 2021:​

As you can see, the market did look constructive off the red II low. However, it ended up rallying in one more high above (1), which turned into 3 waves instead of a 5 waves impulsive off Red II low.

Lets take a look at the current view and see what the instrument ended up doing.

Arcimoto Elliottwave View March 2022:​

Medium term term view from the peak set in Feb 2021. It has been about a year since the peak in Red I. The recent low at Red II does come with nice low momentum against the ((W)), confirming that this move is still corrective. If the momentum was diverging against ((W)), then it would look more bearish. As long as the lows from Feb 24 remain intact, the next leg higher can be underway. However, it should be noted that the indices $SPY are still currently favouring another leg lower to take place. I don't like to chase this move in Arcimoto, it would be best to wait for 5 waves up into blue (1) at least, and then perhaps a hedge trade in (2) may present itself.

Source: https://elliottwave-forecast.com/stock-market/arcimoto-fuv-lows/

 

[Elliottwave-Forecast]

With Gold breaking to new all-time high against Yen and Euro dollars, it's just a matter of time before Gold and Silver breaks to new all-time high against US Dollar. Silver Miners (SIL) ETF leverages the move in the underlying metal. Once Silver starts moving higher with the rest of commodities, the ETF should outperform. Technically, SIL has reached 7 swing extreme area from August 6 peak and it's the perfect time to start reacting higher. Let's take a look at the Elliott Wave update below:

SIL Monthly Elliott Wave Chart​

The Monthly Chart above shows that there's a good chance the ETF has ended ((2)) pullback at $31.54 at the blue box. This blue box is the 100% - 161.8% Fibonacci extension from August 7 peak. It's still at the early stage before the next big move higher. Expect the ETF to outperform in the many months to come.

SIL Daily Elliott Wave Chart​

The ETF formed wave ((2)) base on January 28, 2022 at $31.54. From there, it rallied in 5 waves and ended wave 1 at $37. Pullback in wave 2 has also ended at $33.69 and the ETF has started to extend higher again. While above $31.54, and more importantly above March 2020 low at $16.76, expect the ETF to continue higher.

Source: https://elliottwave-forecast.com/stock-market/silver-miners-earlystage-bullrun/

 

[Elliottwave-Forecast]

Hello Fellow Traders. In this technical blog we’re going to take a look at the Elliott Wave charts charts of EURUSD forex pair published in members area of the website. The pair is trading within the cycle from the January 2021 peak which is having the form of impulsive structure. Recently the pair corrected the short term cycle from the September 2021 peak. Recovery unfolded as Elliott Wave Irregular Flat structure. Once target area was reached, EURUSD found sellers as expected and we got turn lower. In further text we’re going to explain the forecast and Elliott Wave Pattern.

Before we take a look at the real market example of Expanded Flat, let’s explain the pattern in a few words.

Elliott Wave Expanded Flat Theory​

Elliott Wave Flat is a 3 wave corrective pattern which could often be seen in the market nowadays. Inner subdivision is labeled as A,B,C , with inner 3,3,5 structure. Waves A and B have forms of corrective structures like zigzag, flat, double three or triple three. Third wave C is always 5 waves structure, either motive impulse or ending diagonal pattern. It’s important to notice that in Irregular Flat Pattern wave B completes below the starting point of wave A. Wave C ends above the ending point of wave A . Wave C of Flat completes usually between 1.00 to 1.236 Fibonacci extension of A related to B, but sometimes it could go up to 1.618 fibs ext.

At the graphic below, we can see what Expanded Flat structure looks like



Now, let’s take a look what Elliott Wave Flat Pattern looks like in the real market

EURUSD 4h Hour Elliott Wave Analysis 2.10.2022.​

EURUSD has given us recovery against the September 2021 peak. Waves A and B red are showing corrective sequences. Wave B red has broken the starting point of A red, which makes this Flat Irregular. At this stage we can see that the price has reached equal legs area A-B at 1.14759 which is minimum requirement for a correction to complete. We can already count clear 5 waves up from the recent low: 01.28.- B red, which is the last leg C red of proposed (4) blue recovery. Wave (4) correction looks to be completed at 1.14946 high as Elliott Wave Flat Pattern. We would like to see further separation lower against that peak. As our members know, flat patterns can be tricky to trade. We rather avoid forcing trades when corrections are having forms of Flats.

You can learn more about Elliott Wave FLAT and other Patterns at our Free Elliott Wave Educational Web Page​

EURUSD 4h Hour Elliott Wave Analysis 2.10.2022.​

1.14946 high held nicely during the short term bounces. The pair made further decline as we expected. Eventually EURUSD broke the previous low: January 28th, which made bearish sequences again in the pair. EURUSD is now bearish against the 1.14968 pivot, and remains sell in short term rallies in 3,7,11 swings.

Keep in mind that 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/forex/eurusd-elliott-wave-calling-decline-flat/

 

[Elliottwave-Forecast]

SOXX (iShares Semiconductor ETF) is passively managed to provide concentrated exposure to the 30 largest US-listed semiconductor companies. This includes (i) manufacturers of materials with semiconductors that are used in electronic applications or in LED and OLED technology and (ii) providers of services or equipment associated with semiconductors.

SOXX Daily Chart December 2021​

SOXX chart above shows the impulse that we called on December 2021 that began in 2018. You can see 5 waves up and we were looking to complete wave ((5)) in 556.57 – 584.61 area. (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory).

SOXX Daily Chart March 2022​

The ETF reached at 559.02 in our target area and reacted down. This completed the wave ((5)) of the impulse from 2018 and also wave III. The drop made 5 waves down bouncing at 433.28 forming a clear impulse structure as we called wave ((A)). Then SOXX rally made a corrective structure in 3 swings ending at 507.88 as wave ((B)). Currently we are developing the last wave ((C)) that could reach as minimum 381.82. This wave should build 5 waves down to structure a correct zig zag Elliott Wave pattern from the peak. Wave (1) and (2) are already done and we need 3 swings more down to complete wave ((C)) of IV and then continue with the rally.

Source: https://elliottwave-forecast.com/stock-market/soxx-looking-support/

 

[Elliottwave-Forecast]

Snowflake Inc. is a cloud computing–based data warehousing company based in Bozeman, Montana. The firm offers a cloud-based data storage and analytics service, generally termed "data warehouse-as-a-service". It allows corporate users to store and analyze data using cloud-based hardware and software. It runs on Amazon S3 since 2014, on Microsoft Azure since 2018 and on the Google Cloud Platform since 2019. The company was ranked first on the Forbes Cloud 100 in 2019. The company's initial public offering raised $3.4 billion, the largest software IPO in history.

SNOW Weekly Chart July 2021​

In the chart above, you could see SNOW stock which we forecast looking more downside after a nice rally without breaking the peak of wave (I). This decision was taken because the first bearish structure as wave red “a” it was a clear impulse, meaning that SNOW should break the low of wave “a” to complete a correction structure as wave (II). At that time, the market conditions were good that is why we suggested a strong rally before continuing lower.

SNOW Weekly Chart March 2022​

This is the actual SNOW chart after 8 months. You could appreciate the rally without breaking wave (I) and a strong drop perfectly as expected. To end the fractal, we need 5 waves down from wave red “b” peak that we made already, but we are looking and extension in wave ((5)) to reach the ideal minimum target of the 100% Fibonacci expansion.

SNOW Daily Chart March 2022​

Last drop is making an ending diagonal structure as wave ((4)) overlaps wave ((1)). (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory). Also we divide each wave in 3 swings, then last wave ((5)) must have 3 swings to be completed. Inclusive the last structure could look more corrective than we show it in the chart. In any case, SNOW should continue lower below 160.50 level where you could look to buy the stock. The main idea is to break 184.71, but Elliott Theory allows corrections without breaking last low as wave red “a”. Therefore, 5 waves down without breaking 184.71 is good, but you need to recognize the correct structure for that.

Source: https://elliottwave-forecast.com/stock-market/good-time-buy-snowflake-snow/

 

[Elliottwave-Forecast]

Criteo S.A. (CRTO), is a technology company, provides marketing & monetization services on the internet in North & South America, Europe, Middle East, Asia-Pacific & Africa. It is based in Paris, France. It comes under Communication services sector & trades under “CRTO” ticker at Nasdaq.

CRTO made all time low at $5.89 in March-2020 during global sell off. Thereafter it started impulse sequence higher & favored ended at $46.65 high on 7/07/2021 as I red. While below there it favors correction against March-2020 low as II & expect to extend towards $29.06 - $20.11 area before turning higher.

CRTO : Elliott Wave Latest Daily View:​

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It made all time low at $5.89 on 3/18/2020. While above there, it favored ended ((1)) at $11.60 high on 4/29/2020. It placed ((2)) at $8.55 low as 0.5 retracement of previous cycle. Thereafter it started third wave of third wave extension & favored ended at $42.50 high on 5/05/2021. Below there, it placed ((4)) at $33.50 low on 5/11/2021 as 0.236 retracement of ((3)). Finally, it favored ended ((5)) of I at $46.65 high on 7/07/2021. While below there, it favors correction in II as proposed zigzag structure.

Below $46.65 high, it placed ((A)) at $32.12 low & ((B)) at $40.76 high. While below there, it placed (1) & (2) at $33.99 high. Currently, it favors (3) of ((C)) lower & expect overall ((C)) to end between $29.06 - $20.11 area as zigzag correction in II before it turning higher or at least 3 swing bounce thereafter. So it expecting two more lows between equal leg area.

Source: https://elliottwave-forecast.com/stock-market/crto-pulling-back-ii/

Post automatically merged: Mar 8, 2022

Long Term Cycles & Elliott Wave Analysis $USO United States Oil Fund

Firstly the USO instrument inception date was 4/10/2006. CL_F Crude Oil put in an all time high at 147.27 in July 2008. USO put in an all time high at 953.36 in July 2008 noted on the monthly chart. The decline from there into the February 2009 lows was in three swings. An a-b-c in red although it was a very steep pullback.

Further, the bounce from the 2009 lows is a complex double three combination with a triangle “y”. This is w-x-y in red to end the blue wave (x). In either a bullish or bearish market this particular structure always makes a high or low in the initial wave “w”. After a wave “x” correction, structures like this will be followed by a contracting or running triangle. In this case the structure ended in June 2014. The decline from those highs were very sharp again. As can be seen, this was in three swings again a-b-c in red to end the blue wave (y). This completed a three swing correction (w)-(x)-(y) in blue from the July 2008 highs.

The analysis continues below the USO Monthly chart.



Secondly CL_F Crude Oil and the USO instrument as previously mentioned made an all time high back in July 2008. Each of the cycles appears to have declined in three big swings into the February 2016 lows. In the case of USO the price was 61.36. The bounce into the October 2018 highs was three swings again. The analysis continues below the USO Weekly chart.



In conclusion: The USO mirrors CL_F Crude Oil. The bounce from the February 2016 lows into the October 2018 highs appeared to have been a zig zag. Further this is a second (x)(x). As can be seen the decline from the October 2018 highs to the December 2108 lows was five waves and labeled “a”. There was a bounce that failed in April 2019 labeled “b”. Wave “c” made new lows in April 2020. Lastly the bounce from there appears impulsive. While pullbacks remain above the April 2020 lows expect it continuing higher again.

Source: https://elliottwave-forecast.com/st...ott-wave-analysis-uso-united-states-oil-fund/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of 4 hour Elliott Wave Charts of AUDUSD. In which, the decline from 25 February 2021 high is unfolding as a 7 swing corrective structure and showing a lower low sequence favoring more downside. Therefore, we knew that the structure in AUDUSD is incomplete to the downside & should see more weakness. So, we advised members not to buy the pair & sell the bounce in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

AUDUSD 4 Hour Elliott Wave Chart​

Here's the 4 Hour Elliott wave chart from the 3/05/2022 weekend update. In which the decline to $0.6963 low ended higher degree wave (W). Up from there, the pair bounced in wave (X) to correct the cycle from 10/28/2021 high. The internals of that bounce unfolded as a double three structure where wave W ended at $0.7248 high. Wave X ended as a flat at $0.7089 low and wave Y was expected to reach $0.7409- $$0.7484 100%-123.6% Fibonacci extension area of W-X. From there, sellers were expected to appear looking for more downside or for a 3 wave reaction lower at least.

AUDUSD 4 Hour Elliott Wave Chart​

Above is the latest 4hr view from the 3/08/2022 update. In which the pair is showing reaction lower taking place as expected so far. Allowing shorts to get into a risk-free position shortly after taking the position at the equal legs area. Now as far as bounces fail below $0.7442 high then the pair is expected to resume lower. However, a break below $0.6963 level remains to be seen to confirm the next leg lower & avoid double correction higher.

Source: https://elliottwave-forecast.com/forex/audusd-reacting-lower-equal-legs/

 

[Elliottwave-Forecast]

The last time I analyzed Camber Energy was back in September 2021. At the time I was looking for a peak to materialize and then pull back against the rally from the lows set in August 2021. The stock vastly outperformed where I was expecting it to peak, however, the pullback did materialize as anticipated. Firstly, lets review what the company profile:

Camber Energy, Inc. (“Camber”) is a growth-oriented, diversified energy company. Through its majority-owned subsidiary, Viking Energy Group, Inc. (“Viking”), or subsidiaries of Viking, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. Viking also holds an exclusive license in Canada to a patented carbon-capture system.

Lets take a look at the chart from September 2021.

Elli0ttwave View September 2021:​

As mentioned above, I was expecting another push higher into Red I. Thereafter, I was expecting a pullback to take place. The rally unfolded in a very sharp advance and eventually peaked on September 29th 2021, 6 days after I published this chart, at a price of $4.85. After that, the correction that has taken place has been a long drawn out pullback. Lets take a look at the current view below:

Elli0ttwave View March 2022:​

Medium term term view from the Feb 22/2022 low at 0.45. The stock currently has 3 waves up from the Feb 2022 low, and needs more more high to confirm the view of 5 waves up from the low. There are some Fibonacci retracement levels of note that we can look to for possible areas where ((1)) can peak. The 38.2% @ 2.13, the 50% @ 2.64, and the 61.8% @ 3.16. The prefered area where ((1)) can pull back is at the 61.8% level of 3.16. It is very important that the recent Feb 2022 lows remain intact. Any breach of that level could suggest that new all time lows could be on the way. On the upside, the target area for Red III is 4.98 to 7.78.

Source: https://elliottwave-forecast.com/stock-market/camber-energy-inc-cei-bottom-set/

 

[Elliottwave-Forecast]

Within our Group 3 journal we have been calling to go long on XLE as it was due to enter our wave 2 box – which it did yesterday.

Before we formed our blue box, we saw wave 1 unfold to the upside. This gave us a good indication that the extreme zone of wave 2 would be a good place to go long in order to catch wave 3.

XLE – 30 minute – 9th March 2022​

As per our pre-open chart above, we can see that once we developed wave ((a)) and ((b)), we decided to figure out the blue box zone by determining ((c)) to be based of equality of wave ((a)). This price was between 73.56 – 70.53.

As you can see from our chart that we in fact did touch the equal leg to the tick and have been playing the advance ever since then. Currently, as I type this this trade is now risk free as we have taken half of the position once it reached 50% of wave ((c)). We remain bullish on XLE if price is held above 73.50 – otherwise we would be possibly entering back into wave 2 corrective cycle.

XLE – 30 minute – 11th March 2022​

XLE ever since has been supporting wave ii and the make it or break it would be determined based on where wave ii completes. As mentioned above ideally above 73.48. Into next week we should expect this to climb further to the upside in a 5 wave sequence to complete wave 3 on a higher degree.

Source: https://elliottwave-forecast.com/elliottwave/xle-buying-3rd-wave/

 

[Elliottwave-Forecast]

Albemarle Corporation (ALB) develops, manufactures & markets engineered specialty chemicals worldwide. It operates through three segments, Lithium, Bromine & Catalysts. It is based in Charlotte, NC, which comes under Basic Materials sector & trades under “ALB” ticker at NYSE.

ALB made a short-term low at $48.89 on 3/23/2020. While above there it made ATH at $291.48 within the impulse sequence labelled as I red. Currently, it favors double correction in II & expect to correct lower in between $153.42- $94.84 area before upside resume.

ALB - Elliott Wave Latest Daily View:​

​

It started impulse cycle from the 3/23/2020 low. It placed ((1)) at $101 high on 9/18/2020 & ((2)) at $85.60 low as 0.382 retracement of ((1)). While above there, it favored ended ((3)) at $188.35 high on 1/20/2021. It placed ((4)) at $133.82 low on 3/05/2021. Finally, it ended ((5)) as extended move at $291.48 high on 11/22/2021 as the part of I red impulse. While below there, it favors double correction lower in II.

Below $291.48 high, it placed ((W)) at $197.14 low & ((X)) at $247.98 high. While below ((X)), it proposed ended (A) & (B) at $200.88 high & below there favoring (C) lower towards $153.42 - $94.84 area to end ((Y)) to end II correction. Alternatively, it can bounce in (B) as flat correction, which ideally should fail below ((X)) high to extend lower in (C) of ((Y)). We like to buy the blue box area for the next leg higher or at least 3 swing bounce later when reached.

ALB - Alternate Elliott Wave View:​

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Source: https://elliottwave-forecast.com/stock-market/alb-pulling-back-ii-next-rally/

 

[Elliottwave-Forecast]

Pan American Silver Corporation (ticker: PAAS) is engaged in the production and sale of silver, gold, zinc, lead and copper. It also has other related activities, including exploration, extraction, processing, refining and reclamation. The company operates 10 mining sites, including La Colorada, Dolores, Huaron, Morococha, San Vicente, Manantial Espejo, Shahuindo, La Arena, Timmins and Escobal. In the charts below, we look at the technical outlook of the company.

PAAS Monthly Elliott Wave Chart​

The monthly chart of PAAS above shows the rally from January 2016 low is in progress as a nesting 5 waves impulse. Up from January 2016 low, wave (I) ended at 21.59 and pullback in wave (II) ended at 10.26. The stock then extends higher in wave (III) which subdivides in another 5 waves in lesser degree. Up from wave (II), wave I ended at 40.11 and dips in wave II ended at 20.73. Expect the stock to continue higher in the months to come in wave III of (III).

PAAS Daily Elliott Wave Chart​

Daily Elliott Wave chart above shows the stock ended correction to cycle from May 2019 low in wave II pullback at 20.75. Structure of wave II unfolded in a double three Elliott Wave structure where wave ((W)) ended at 28.33, rally in wave ((X)) ended at 39.62, and wave ((Y)) of II completed at 20.75. While pullback stays above wave II low, expect the stock to extend higher.

PAAS 4 Hour Elliott Wave Chart​

The 4 hour chart of PAAS above shows the rally from January 29, 2022 low is in progress as a 5 waves impulse Elliott Wave structure. Up from wave II, wave 1 ended at 25.98 and pullback in wave 2 ended at 22.43. Stock then extends higher in wave 3 towards 28.95, and pullback in wave 4 ended at 25.56. Expect the stock to extend higher to end wave 5 of (1), then it should pullback in larger degree 3 waves to correct cycle from January 29 low in wave (2) before the rally resumes.

Source: https://elliottwave-forecast.com/st...silver-paas-has-started-the-next-bullish-leg/

 

[Elliottwave-Forecast]

Coinbase Global, Inc., branded Coinbase (COIN), is an American company that operates a cryptocurrency exchange platform. Coinbase is a distributed company; all employees operate via remote work and the company lacks a physical headquarters. It is the largest cryptocurrency exchange in the United States by trading volume. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam.

COIN Daily Chart March 2022​

Coinbase (COIN) made its debut in Wall Street in April 2021 reaching a value of 429.54. It started a correction, immediately, and that is why we are calling wave (I) at that high. The correction has extended lower until now as a flat structure 3-3-5. We could see 3 swings down from the peak and we labeled as ((A)), ((B)) and ((C)). These 3 waves completed wave “a” at 208.00 and bounce in wave “b”. Wave “b” reached until 368.90 making 3 swings up as a zig zag correction 5-3-5. (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory).

Therefore, we have 3 waves down and up, and we need 5 waves down to complete wave (II). The impulse from wave “b” already made 4 waves down and we are developing the last one. Wave ((5)) built wave (1) ended at 156.53. Wave (2) bounce to 181.45 and turned lower again and currently we are developing wave (3) of ((5)). To confirm wave (3) is under way we need to break 155.92 to enter in the final stage to finish wave ((5)) of “c” and also wave (II). We considered to complete this correction to 147.07 – 94.70 area where COIN should continue the rally.

Source: https://elliottwave-forecast.com/stock-market/coin-pressure-cryptos-fall/

 

[Elliottwave-Forecast]

Hello Fellow Traders. In this technical blog we’re going to take a look at the Elliott Wave charts charts of AUDUSD forex pair published in members area of the website. As our members know the pair is showing incomplete sequences in the cycle from the February 2021 peak. The price structure is calling for a further weakness. Recently we got 3 waves recovery against October 2021 peak that completed at 0.744 high. In further text we are going to explain short term path.

AUDUSD H1 Hour Elliott Wave Analysis 03.09.2022.​

At this stage we see possibility that the pair ended cycle from the 01/28 low at 0.74399 high. AUDUSD made 5 waves down from the 0.743994 peak, increasing chances of further decline. Currently the pair is giving us short term bounce against the mentioned high. At this moment, rally from the lows looks like 5 waves. So, we assume the pair has given us only first leg of the short term recovery. We are looking for a pull back in (b) and another leg up against the 0.74399 peak ideally.

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AUDUSD H1 Hour Elliott Wave Analysis 03.10.2022.​

AUDUSD has given us 3 waves pull back in (b) blue, and rally which broke (a) peak , confirming (c) leg up is in progress, ideally toward 0.7381+ area. Wave ((ii)) black must complete below 0.74407 peak. Otherwise break above that high would invalidate the current Elliott Wave count. We expect further decline as far as mentioned 0.74407 high holds.

You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page​

AUDUSD H1 Hour Elliott Wave Analysis 03.11.2022.​

Short term recovery ((ii)) black looks completed at 0.7366 high as truncation. As far as the price holds below that high, the pair can be trading lower in ((iii)) black leg, targeting 0.7175-0.7129 area next.

AUDUSD H1 Hour Elliott Wave Analysis 03.14.2022.​

Eventually the pair made further separation down against the 0.7366 high and broke the previous low 03/08. We are approaching first target area at 0.7175-0.7129. At that zone sellers can be taking profits. So , proposed area can provide us with a 3 waves bounce before further drop continues.

Keep in mind that 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/forex/audusd-elliott-wave-forecasting-path/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of USDCAD. In which, the rally from 03 March 2022 low unfolded as an impulse sequence and showed a higher high sequence with a bullish sequence stamp. Therefore, we knew that the structure in USDCAD is incomplete to the upside & should see more upside to complete the impulse sequence. So, we advised members not to sell the pair & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

USDCAD 1 Hour Elliott Wave Chart​

Here’s 1hr Elliott wave Chart from the 3/111/2022 London update. In which, the rally to $1.2901 high ended 5 waves from 3/03/2022 low in wave ((i)) & made a pullback in wave ((ii)). The internals of that pullback unfolded as Elliott wave zigzag correction where wave (a) ended at $1.2788 low. Then a bounce to $1.2841 high ended wave (b) & started the next leg lower in wave (c) towards $1.2728- $1.2658 blue box area. From there, buyers were expected to appear looking for new highs ideally or for a 3 wave bounce minimum.

USDCAD Latest 1 Hour Elliott Wave Chart​

This is the latest 1hr Elliott wave Chart from the 3/15/2022 Asia update. In which the pair is showing a strong reaction higher taking place, right after ending the zigzag correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area.

Source: https://elliottwave-forecast.com/forex/usdcad-reacting-higher-blue-box-area/

 

[Elliottwave-Forecast]

Kontoor Brands Inc., (KTB) is a lifestyle apparel company, which designs, manufactures, procures, markets & distributes denim, apparel & accessories under the Wrangler, Lee & Rock & Republic Brands globally. It operates through mainly Wrangler & Lee. It comes under Consumer cyclical sector & trades as “KTB” ticker at NYSE.

KTB made all time low at $12.90 on 4/03/2020 during global selloff in early 2020. Thereafter it made a higher high sequence, which ended at $69.16 high as I red. While below there, it favors correction of II against April-2020 low before upside resumes.

KTB - Elliott Wave Latest Daily View:​

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It started impulse cycle from 4/03/2020 low. It placed ((1)) at $22.43 high on 4/09/2020, while ((2)) at $13.53 low as dip correction against ((1)). While above $13.53 low, it started third wave of third wave extension & favored ended at $55.49 high on 3/18/2021. ((4)) was 0.236 retracement of ((3)) as shallow correction & ended at $45.23 low. Finally, it ended ((5)) at $69.16 high on 5/06/2021 as I red. While below there it favors double correction lower in II towards $38.34 – $24.17 area before upside resumes.

Below ATH of $69.16, it placed ((W)) at $46.31 low & ((X)) at $61.24 high on 11/16/2021. Below ((X)) high, it favored ended (A) & (B) at $51.85 high. While below there, it favors further weakness in (C) of ((Y)) towards equal leg area to end II correction before upside resumes or at least 3 swing bounce thereafter. We like to buy the extreme areas in blue box when reached.

Source: https://elliottwave-forecast.com/stock-market/ktb-pulling-back-before-next-rally/

 

[Elliottwave-Forecast]

Imperial Petroleum is in a sector that recently has been on a tear. There are a few small companies that are making big moves with the swing in Crude Oil. But are they meant to last? Today I'll take a look at Imperial Petroleum and see where the elliott waves take us.

Imperial Petroleum is an international shipping transportation company specialized in the transportation of various petroleum and petrochemical products in liquefied form. They recently completed a purchase for two tankers to add to their fleet. The small cap size of this company is ripe for big moves, lets take a look at what the future may have in store for this company.

Imperial Petroleum Elliottwave View:​

Medium term term view from the low set in December 2021. This stock experienced a surge on the IPO, which is favoured peaked in Red I. After that, it experienced a pullback that lasted around 2 months, and tested the recent lows. From there, the stock formed a low at the 0.48 level in Red II. From there, it has rallied very impulsively to a peak of 9.75 on March the 8th 2022. This rally came with very high momentum. Not only that, the speed in which prices increased was very swift.

At this time. as long as the recent low at 0.48 remains intact, it is favoured that this stock can be nesting before again moving higher. It is a very volatile stock, and extreme risk management practice needs to be utilized. It is favoured that at present time, it can be in the later stages of possibly completing the ((2)) pullback.

Source: https://elliottwave-forecast.com/stock-market/imperial-petroleum-impp-can-continue-lower/

 

[Elliottwave-Forecast]

EURO ETF Long Term Cycles & Elliott Wave $FXE

Firstly as seen on the monthly chart shown below the instrument made a high in April 2008. There is data back to December 2005 in the ETF fund. Data correlated in the EURUSD foreign exchange pair suggests the high in April 2008 was the end of a cycle up from the all time lows. EURUSD data shows the pair had a five wave up move from the early 1970’s era. This data is derived from the German Mark currency against the US Dollar that preceded the inception of the Euro currency.

As you can see the FXE instrument reflects the price swings of the single currency well. As previously mentioned the instrument made a high in April 2008. This where the analysis begins on the monthly chart shown below. The correction from those highs appears to be a an Elliott Wave zig zag structure correction. The analysis continues below the monthly chart.



Secondly as mentioned the decline from the April 2008 highs appears to be an Elliott Wave zig zag structure. This structure is also called a 5-3-5 in Elliott Wave terms. When a cycle ends against a trend it will show up in momentum indicators usually before price makes it obvious. Further these cycle lows and highs are in the blue color as shown on the chart above (a)-(b)-(c). This finished ((b)) in January 2017.

Lastly and in conclusion, the bounce from the January 2017 lows to the January 2018 highs appears to be an impulse. From there the best reading of the cycles there appears to be a flat "b" wave bounce. While above the January 2017 lows at 100.46 the instrument is favored higher.

Source: https://elliottwave-forecast.com/stock-market/euro-etf-long-term-cycles-elliott-wave-fxe/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts of NIFTY Index from India, presented in members area of the of our website. As our members know, break of 01/24 (16836.9) low ,made incomplete sequences from the 18352.97 peak , which increases chances of getting another leg down within the cycle from the October 19th 2021 peak.

Before we take a look at the real market example, let’s explain Elliott Wave Double Three pattern.

Elliott Wave Double Three Pattern

Double three is the common pattern in the market , also known as 7 swing structure. It’s a reliable pattern which is giving us good trading entries with clearly defined invalidation levels.
The picture below presents what Elliott Wave Double Three pattern looks like. It has (W),(X),(Y) labeling and 3,3,3 inner structure, which means all of these 3 legs are corrective sequences. Each (W) and (Y) are made of 3 swings , they’re having A,B,C structure in lower degree, or alternatively they can have W,X,Y labeling.

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Before we take a look at the H4 chart, to see what Elliott Wave Double Three Pattern looks like in real market example, let's see a NIFTY h1 chart and explain the reason of calling another leg down in Index.

NIFTY 1 Hour Elliott Wave Analysis 02.16.2021​

The index has made break of January 24th low (16836.9)- which is marked as (A) blue on the chart. The index is now showing incomplete bearish sequences from the 18352.97 peak, which suggest further weakness in near term. NIFTY remains bearish against the 17792.37 peak. Proposed decline in short term cycle makes December 20th low more vulnerable. So, we are calling for a 7th swing down from the major October 19th 2021 peak.



Now, let's take a look at NIFTY h4 chart from March 3rd to see what Elliott Wave Double Three pattern looks like in real example.

NIFTY 4 Hour Elliott Wave Analysis 03.03.2021​

We assume that cycle from the peak has a form of Elliott Wave Double Three Pattern , labeled as WXY red. We can notice that each of legs have corrective structure - ((A)),((B)),((C)) black, when X red connector has form of Irregular Flat Pattern. Eventually we got a break of December 20th low- ((B)) black on this chart. Current price structure confirms we are in 7th swing down in the cycle from the October 19th 2021 peak. The price still miss the extreme from the peak, so we are calling for another leg down toward 16166.4-15645.28 ( buyers zone). From that area we expect to see larger 3 waves bounce at least. First target would be 50 fibs against the X red ( 18352.9) peak. Once it's reached buyers should make long positions risk free (put SL at BE) and take partial profits from the trade.

You can learn more about Elliott WaveDouble Three and other Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

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NIFTY 4 Hour Elliott Wave Analysis 03.16.2021​

Eventually we got another leg down as expected. Buyers appeared at the blue box and we are getting good reaction from there. The rally from the blue box reached and exceeded 50 fibs against the connector. As a result any long positions are enjoying profits in a risk free positions. Short term rally looks to be unfolding as a Elliott Wave Zig Zag Pattern, targeting approximately 17816+ area.

Note: some labels have been removed from the charts in order to protect clients' privileges.

Keep in mind that 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/elliottwave/nifty-elliott-wave-double-three/