Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

The Longer Term Swings and Bullish Cycles of $BEL20

1st 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.

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. The analysis continues below the monthly chart.

BEL20 Monthly Chart





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. 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 corrected the cycle from the 2009 low. At this point in time from the March 2020 lows it appears the index has ended a third wave. Ideally while pullbacks remain above the March 2022 lows the index can see another high before it corrects the cycle from the March 2020 lows. While above there it is expected to resume the longer term bullish trend higher back above the May 2007 highs.

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

 

[Elliottwave-Forecast]

There is a big difference between a methodology that underpins your analysis and having a simple trading strategy which just tells you when to get in and when to get out. If a trader just has the latter, then your journey can be a bit difficult.

There are two sides to trading. There is the analytical side, where you forecast what the market is going to do. Then there is the money-making side. A lot of traders either skip the money-making methodology. Or worse they combine the analytical side with the money-making side. – This is a common mistake.

Strategy hopping​

When the money-making methodology is not in place, many traders fall in the trap of strategy hopping. They simply blame their strategy. They learn a strategy, it works for a certain period. Then it stops working or they realise it’s not making them money directly. So then what do traders do? They search for a new strategy, this time they are pretty convinced this is the money maker! However, this is not the case. I will soon focus on this specific topic on why traders move from one strategy to another and most chances those strategies would’ve worked if adopted with correct risk management methodology.

For example, here at Elliott Wave Forecast we practise the Elliott Wave Theory (EWT). A theory that was discovered by an account called Ralph Nelson Elliott in the 1930s. EWT in my eyes is not a trading strategy but only an academic tool to forecast the market. We have other confluences that we use such as correlations and specific indicators to help us spot divergences. But in order to capitalise from the markets, we have our own specific rules such as entries, exits, stoploss placement and risk management.

Why does Elliott Wave Theory work?​

The Elliott Wave Theory is just a very useful language. A language that not only helps us figure out whether we are in a trending-based move or a corrective move but it helps us identify what stage we are in that specific trend. If the price is correcting, the theory has a list of patterns that be in play and we love the flexibility of identifying patterns in the market.

The theory has 3 rules that we abide by and I cannot not remember last time explaining a market move without using the rules. 1, Wave 2 cannot exceed wave 1. 2, Wave 4 cannot go into wave 3. 3, Wave 3 cannot be the shortest wave.

Risk management​

Risk management is a very important element of successful trading psychology. You need a sophisticated and strong risk management protocols in place to exhibit the right behaviour and make correct decisions on a regular basis. Risk management in today’s education only explains on risking 1% to 2% of your account or having a 2:1 risk to reward ratio and just sticking to those rules. That’s one aspect to risk management but its not all there is to this subject. Most traders think their problem is strategy, or if they can read the market better but the problem often is failed traders fall in trap of having no appropriate risk management methodology.

High win rate vs. high risk to reward – spoiler: you can’t have both.​

Now this does not mean if you have a high risk to reward ratio overall that you will have a low win rate, it just will not be as extremely high as opposed if you have a medium average risk to reward per trade, but your win rate probability will gradually increase, I will explain below on whys and hows and you will see how they are inversely correlated.

High Win Rate​

I like to trade the FX market based on the current medium-term trend the market is presenting to me, so I look for trend continuation once we reach the maturity of the corrective way. To achieve a high win rate, the trick is to place your stoploss in an area that if this level is hit, your trend analysis is incorrect, therefore with this methodology, you have provided your trade enough space to breathe. For example, with us we place our stoploss at 1.618 extension of Zig Zag pattern’s wave A. Our entry would be based on equal leg.

This has proven successful within our analysis as not only we give the market space to breathe but our entries are based on Elliott Wave’s guidelines. We personally prefer a high win rate.

High Risk to Reward​

If you are seeking a higher risk to reward, be ready for a somewhat medium win rate, probably around 50%, but at least your R:R is high, this method depends on your appetite. When using this specific stoploss methodology, you are essentially trying to spot the “top” of the corrective wave, so therefore your stoploss would be right above the corrective wave’s extreme. If the trade is successful, then you will receive a handsome profit, but you will be reaching that stoploss often.

Wrapping it up​

As you can see, risk management is just more than just a percentage or JUST having a positive R:R:R. It’s about your personality on a deeper level and what your preference is.

Me personally, I prefer placing my stoploss in an area where I know my analysis was not successful. With that I would still receive a good R:R:R and my win rate is good. However, as my trade progresses and forms a new low or the base of the corrective pattern, I tend to then manage my risk on the go by placing my stoploss above the corrective pattern, at that point it would be considered as the previous high.

We pride ourselves to providing real-time analysis on asset classes such as FX, commodities, stocks, ETFs and Indices. To get an exclusive deep dive into our content, we suggest signing up to our 14 day trail! Our strategy has been proven successful within the professional world of trading.

Source: https://elliottwave-forecast.com/elliottwave/inverse-correlation-high-win-rate-high-risk-reward/

 

[Elliottwave-Forecast]

Brookfield Asset Management (BAM) is an alternative asset manager & REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure & venture capital & private equity assets. It manages a range of public & private investment products & services for institutional & retail clients. It based in Toronto, Canada, comes under Financial services sector & trades as “BAM” ticker at NYSE.

BAM made an ATH at $62.47 from intermediate low of $21.57 happened during sell-off in early 2020. While below there, it favors correction before next rally resumes.

BAM - Elliott Wave Latest Daily View:​

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During global sell-off in March-2020, it made an intermediate low of $21.57 on 3/23/2020. While above there, it placed ((1)) at $37.73 high on 6/08/2020 and ((2)) at $29.09 low on 10/30/2020. ((2)) was 0.5 Fibonacci retracement against ((1)). Above there, it favors higher in third wave extension & finished ((3)) at $62.20 high on 11/08/2021. ((4)) favored ended at $50.87 low on 1/24/2022 as slightly above 0.382 retracement of ((3)). Finally, it favored ended ((5)) at $62.47 as minor high to end I red as impulse sequence started from March-2020 low.

Below $62.47 high, it favors II correction lower. It placed ((A)) at $50.05 low, while above there it favors ((B)) in proposed zigzag structure & expect to extend between $56.79 - $59.88 area before turning lower in ((C)) (extension pending) of II. We like to buy the pullback in ((C)) leg at an extreme areas for the next leg higher or at least 3 swing bounce.

BAM - Alternate Elliott Wave View:​

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Alternatively, it might ended I at $62.20 high & II at $50.05 low on 2/24/2022 as flat correction. While above there, it favors further upside as the part of III red, which will further confirm when breaks above $62.47 high. In that case, we like to buy the next pullback in 3, 7 or 11 swings for further upside.

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

 

[Elliottwave-Forecast]

Unifi Inc. is a global textile solutions provider based in Greensboro, North Carolina, USA. The stock being a component of the Russel3000 index can be traded under ticker $UFI at NYSE. Unifi is one of the world’s leading innovators in manufacturing synthetic and recycled performance fibers. The company is in a possession of proprietary technologies and produces goods for such end markets like apparel, automotive, furnishings, accessories, footwear and many more. Currently, we can see cotton as a basis for the textile industry extending higher. Therefore, Unifi being an important player in the textile market should be a great opportunity for investors to diversify their portfolio by indirect investement in the rising cotton prices.

In the initial article from April 2021, we have called for a new larger cycle higher. The main view remains unchanged. Here, we provide an update and discuss an opportunity for investors to enter the market.

Unifi Quarterly Elliott Wave Analysis 04.04.2022​

The Quarterly chart below shows the Unifi shares $UFI traded at NYSE. First, the stock price has developed an impulse higher in black wave ((I)) of grand super cycle degree. It has printed the all-time highs in the 3rd quarter of 1997 at 130.88. From the highs, a correction lower in black wave ((II)) has unfolded as an Elliott wave zigzag pattern. It has printed an important bottom in the 1st quarter of 2009 at 1.32. As a matter of fact, the stock price has lost 99% of its value within 12 years.
From 2009 lows, a new cycle in wave ((III)) has already started and should extend towards 130.88 highs and beyond. Then, the target for wave ((III)) will be towards 132.55-213.62 area and even higher.
From 2009 to 2017, we saw a motive cycle higher in blue wave (I) of black wave ((III)). It has ended at 39.21 highs. From the highs, a correction lower in 3 waves as blue wave (II) has ended in March 2020 at 7.48. Indeed, this can be seen as a first nest within a larger wave ((III)). Now, from the lows, a new cycle in wave (III) of ((III)) may have already started.

Unifi Daily Elliott Wave Analysis 04.04.2021​

The daily chart below shows the correction lower in wave ((2)) in more detail. Hereby, black wave ((2)) corrects the initial cycle up from March 2020 lows within wave ((1)) of I of (III) (not shown). While wave ((1)) is an impulse higher, the consolidation lower is an Elliott wave zigzag pattern being 5-3-5 structure. First, wave (A) of ((2)) ended in September 2021. Then, bounce in wave (B) has printed top in November 2021 at 25.70. Now, while below there, wave (C) should reach towards 14.83-8.12 area. There, a reaction higher in wave ((3)) of I should take place.
Investors and traders can be looking to buy the pullback in wave ((2)) against 7.48 lows from 14.83-8.12 area targeting 45.38-68.83 area and even higher.

Source: https://elliottwave-forecast.com/stock-market/textile-stock-unifi-buying-area/

 

[Elliottwave-Forecast]

EURJPY has rallied 1300+ pips during three weeks of March. It found a low at 124.39 on March 7, 2022 and reached a high of 137.54 on March 28, 2022. This equates to 10.57% gain within just three weeks. It seems to have ended a cycle from March 7, 2022 low and pulling back. In today's article, we will present the future path and also look at some charts from the recent past in which we showed the path to our members.

EURJPY Elliott Wave Analysis - Daily Time Frame - 19 February 2022​

Chart below shows EURJPY cycle from March 2020 low ended at 134.12 on June 1, 2021. We labelled this rally as an Elliott wave impulse which has been nicely sub-divided into 5 waves. Following this peak, pair started a pull back to correct the cycle from March 2020 low. We can already see 3 waves down but based in market correlation, we expected the pair to see more downside and break below December 2021 low to complete the correction of March 2020 cycle before resuming the rally.

EURJPY Elliott Wave Analysis - Daily Time Frame - April 2, 2022​

Chart below shows EURJPY extended the decline and went on to break below December 2021 low as expected to finish correcting March 2020 cycle. It found a low on March 7, 2022 at 124.39 and rallied to a high of 137.54 on March 28, 2022. Cycle from 124.39 low ended and pair is now expected to pull back to correct the cycle from March 7, 2022 low before pair turns higher to resume the rally. Right side is up and as dips hold above March 7, 2022 low, we expect pair to find buyers in the dips in 3, 7 or 11 swings.

EURJPY Double Incomplete Bullish Sequence​

Pair recently broke above May 2021 peak and also broke above January 2018 peak which creates a double incomplete bullish sequence with target area between 142.38 - 148.99 at least. As dips hold above March 2022 low, buyers should remain in control and expect the pair to find buyers in the dips in 3, 7 or 11 swings.



Source: https://elliottwave-forecast.com/forex/eurjpy-incomplete-bullish-sequence-upside/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of GBPUSD. The pair has given us nice trading opportunity recently. We have been selling the rallies at 1.3298-1.3348 area as explained in previous article on GBPUSD . Reasons for calling further weakness in pair are bearish sequences in the cycle from the June 1st 2021 peak. We recommended members to avoid buying and keep selling rallies in 3,7,11 swings when get a chance. In further text we are going to explain the Elliott Wave Forecast

GBPUSD H1 Elliott Wave Analysis 03.25.2022​

GBPUSD has given us nice reaction lower from our selling zone. Recovery is counted completed at 1.3299. While below that high, next leg down can be in progress. However we need to see further separation from the peak to confirm. Current view suggests as far as the price holds below 1.3222 peak - (ii) blue, next technical area to the downside ideally comes at 1.3079-.3045 . At that zone we should ideally complete 5 waves down from the 1.3299 peak. Once 5 waves down are completed and we can expect to see 3 waves bounce against the 1.3299 high.

Reminder: You can learn about Elliott Wave Rules and Patterns at our Free Elliott Wave Educational Web Page.

GBPUSD H1 Elliott Wave Analysis 03.29.2022​

We got further separation from the peak. The pair reached 1.3079-.3045 area , completed 5 waves - ((i)) black and started turning higher in recovery ((ii)) correcting the cycle from the 1.3299 peak. Short term rally from the last low looks impulsive which suggests we are ending only first leg (a) blue of ((ii)). We expect 3 waves pull back in (b) and then another leg up (c) of ((ii)) before further decline ideally resumes.

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GBPUSD H1 Elliott Wave Analysis 04.07.2022​

GBPUSD made (b) blue pull back and another leg up (c) blue of ((ii)). The pair completed 3 waves recovery ((ii)) black at 1.3183 and made decline again as expected. The pair has broken previous low 1.305 , which made lower low sequences from the 1.330 peak. Current price structure suggests as far as the price holds below marked trend line and 1.3183 pivot holds,next tech zone to the downside ideally comes at 1.2943-1.2886 area.

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/forex/gbpusd-elliott-wave-forecasting-path/

 

[Elliottwave-Forecast]

LTCUSD formed a high at $134.08 on March 30, 2022 and since then it has dropped $23.44 registering a low of $110.64 on April 6, 2022. This translates into a 17.48% decline within a week. Today, we will look at why the rally from February 24, 2022 low stopped where it stopped and how our members were already knew the area and knew where sellers should be appearing. Let's take a look at some charts of LTCUSD from members area at Elliottwave-Forecast.

LTCUSD 4 Hour Elliott Wave Analysis - 24 March 2022​

Chart below show pair formed a connector wave ((X)) at 295.93 on November 10, 2021. This was followed by a 5 waves impulsive decline to $120.49 reached on January 10, 2022. This was followed by a 3 waves bounce to $153.93 reached on January 17, 2022, then the cryptocurrency dropped to a new below $120.49 and reached a low of $96.85 on January 22, 2022. This drop to new low was in 3 waves and was followed by a sharp 5 waves rally to $144.13 reached on February 10, 2022. After this cryptocurrency resumed the decline and registered a new low at $91.74 on February 24, 2022. This decline was in 5 waves so we called the rally $144.13 as a 3-3-5 running FLAT Elliott wave correction and labelled the drop to $91.74 as wave 1 of the new cycle lower.

LTCUSD started bouncing again with first leg of the bounce ending at $116 on March 1, 2022. This was followed by a pull back to $96.31 reached on March 7, 2022 and then it turned higher again. We highlighted $121.54 - $136.57 as 100 - 161.8% Fibonacci extension area with a blue box and as an area to complete wave 2 corrective bounce. Our members knew wave 2 should end in this area and sellers should appear to resume the decline while price stayed below 161.8% Fibonacci extension level at $136.57 or we should get 3 waves reaction lower at least.

LTCUSD 4 Hour Elliott Wave Analysis - 6 April 2022​

Chart below shows sellers did appear in the blue box area and cryptocurrency has turned lower. It has already reached 50% Fibonacci retracement of the rally from ((b)) wave low allowing sellers from blue box to get into a risk free position. Decline from $134.06 high is in 3 waves but while price stays below $129.50 high, it has scope to become 5 waves or 5 swings. Once it manages to complete 5 waves or 5 swings down from $134.06 high, that will add more conviction to the view that decline has resumed and we should get at least 1 more leg down against $134.06 high.



Source: https://elliottwave-forecast.com/trading/ltcusd-selling-rally-blue-box-3-waves-bounce/

 

[Elliottwave-Forecast]

Today I am looking at Canopy Growth Corporation. I am pretty sure everyone remembers the cannabis rally of 2018. When every trader, including their family members, were asking which cannabis company to buy to make money. Yes, cannabis had an incredible run from 2015 to 2018 peak, but like everything, it has pulled back and consolidated. But is it time to get back into the sector for the next multi year run? Canopy Growth Corporation is arguably the largest cannabis company in the world, so I would like to analyze this one first. Lets take a look at their company profile:

"Canopy is a global, best-in-class cannabis company and CPG organization with the intention to unleash the power of cannabis to improve lives. From expanding personal health and wellness to creating economic opportunity and working on social justice initiatives, Canopy is demonstrating the ability of cannabis as a positive agent for change.

Canopy Growth and its medical division Spectrum Therapeutics advance a range of research initiatives aimed at furthering the understanding of – and unleashing – the full potential of cannabis.

Canopy Growth has conducted research into the long-term impacts of CBD, as well as the potential for cannabinoids to displace other less desirable drugs in long-term care, while also exploring the role cannabis can play in helping people with opioid use disorder stay on their treatment plans. Through Spectrum Therapeutics, we undertook the important work of identifying the tolerability and safety of cannabinoids in cats and dogs to help determine appropriate dosing levels."

Lets dig into the charts.

Canopy Growth Corporation Elliottwave View (Weekly):​

Long term view since the lows set in 2015. This stock has a fairly clear technical picture. The Market rallied for 3 years in a clear 5 waves advance. This advance comes with momentum divergence at the (I) Peak. This peak was set in October of 2018 at 59.25. After that, a very long and drawn out correction has taken place. Wave a took nearly two years to decline, before a large bounce in b took place. After that, another decline in 5 waves is underway. The stock is currently within a blue box 100% area. This is an area where Algos like to trade. Traders that sold the highs are likely to start taking profits. As long as the lows at 1.01 remain intact, the blue box can produce a reaction in 3 waves at least.

Source: https://elliottwave-forecast.com/stock-market/canopy-growth-corporation-cgc-lucrative-investment/

 

[Elliottwave-Forecast]

Today I am looking at Canopy Growth Corporation. I am pretty sure everyone remembers the cannabis rally of 2018. When every trader, including their family members, were asking which cannabis company to buy to make money. Yes, cannabis had an incredible run from 2015 to 2018 peak, but like everything, it has pulled back and consolidated. But is it time to get back into the sector for the next multi year run? Canopy Growth Corporation is arguably the largest cannabis company in the world, so I would like to analyze this one first. Lets take a look at their company profile:

"Canopy is a global, best-in-class cannabis company and CPG organization with the intention to unleash the power of cannabis to improve lives. From expanding personal health and wellness to creating economic opportunity and working on social justice initiatives, Canopy is demonstrating the ability of cannabis as a positive agent for change.

Canopy Growth and its medical division Spectrum Therapeutics advance a range of research initiatives aimed at furthering the understanding of – and unleashing – the full potential of cannabis.

Canopy Growth has conducted research into the long-term impacts of CBD, as well as the potential for cannabinoids to displace other less desirable drugs in long-term care, while also exploring the role cannabis can play in helping people with opioid use disorder stay on their treatment plans. Through Spectrum Therapeutics, we undertook the important work of identifying the tolerability and safety of cannabinoids in cats and dogs to help determine appropriate dosing levels."

Lets dig into the charts.

Canopy Growth Corporation Elliottwave View (Weekly):​

Long term view since the lows set in 2015. This stock has a fairly clear technical picture. The Market rallied for 3 years in a clear 5 waves advance. This advance comes with momentum divergence at the (I) Peak. This peak was set in October of 2018 at 59.25. After that, a very long and drawn out correction has taken place. Wave a took nearly two years to decline, before a large bounce in b took place. After that, another decline in 5 waves is underway. The stock is currently within a blue box 100% area. This is an area where Algos like to trade. Traders that sold the highs are likely to start taking profits. As long as the lows at 1.01 remain intact, the blue box can produce a reaction in 3 waves at least.

Source: https://elliottwave-forecast.com/stock-market/canopy-growth-corporation-cgc-lucrative-investment/

 

[Elliottwave-Forecast]

Palantir Technologies (PLTR), Inc. is a holding company, which engages in the development of data integration and software solutions. It operates through the Commercial and Government segments. The Commercial segment offers services to clients in the private sector. The Government segment provides solutions to the United States (US) federal government and non-US governments. The firm offers automotive, financial compliance, legal intelligence, mergers and acquisitions solutions.

PLTR April Daily Chart​

In January 2021, Palantir made an important peak at 45.00 and it has been going down ever since. We could see 5 waves clearly from the top where wave ((4)) is a triangle. This impulse we labeled as wave “a” ending at 17.09, more than 50% in losses. After that, PLTR bounce in 3 waves above of 38.2% Fibonacci retracement of wave “a” and resume to the downside. This correction ended at 29.29 dollars and we labeled as wave “b”. The next structure lower as wave “c” looks like is developing a perfect impulse. (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory).

Wave ((1)) of the impulse ended at 23.02. A bounce correction as wave ((2)) completed at 27.11. Then PLTR fell abruptly in 5 waves reaching 9.74 dollars and we labeled as wave ((3)). Recently the corrective wave ((4)) has finished at 14.86 forming a flat structure and it has continued to the downside. Short term, we expect to continue lower to break 9.74 to complete wave ((5)). We should get divergence in this movement against the end of wave ((3)). This drop could reach 8.54 – 6.60 area to finish wave ”c” and also wave (II) as a zigzag structure. The rally from this area should result in the break of 45.00 peak in long term.

Source: https://elliottwave-forecast.com/stock-market/palantir-pltr-end-cycle/

 

[Elliottwave-Forecast]

Électricité de France S.A. (literally, Electricity of France), commonly known as EDF, is a French multinational electric utility company. The operations include electricity generation and distribution, power plant design, construction and dismantling, energy trading and transport. Founded in 1946 and headquartered in Paris, France, the company is largely owned by the French state. EDF is a part of CAC Next 20 index. Even though the energy stock demonstrates a high attraction like that of E.ON from Germany, the stock price has strongly depreciated in 12,5 years. As a matter of fact, it has lost 93% of its value from November 2007 to March 2020.

Today, we see energy sector strongly turning up. Commodities like oil, gas, uranium are trading higher. In consequence, utility company like EDF should also catch up the overall bullish market. Therefore, investors can be looking to buy the french giant EDF in order to diversify their portfolio by indirect investment in rising commodity prices.

In the initial article from August 2021, we have called a cycle up ended in January 2021 and the price consolidation still in progress. We were right. Here, we provide an update demonstrating an inflection area, where buyers can enter the market.

EDF Monthly Elliott Wave Analysis 04.11.2022​

The monthly chart below shows the EDF stock $EDF traded at Euronext. 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 November 2007 at 77.79. 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 March 2020 at 5.71. From March 2020 lows, a new cycle in wave ((III)) has already started and should extend towards 77.79 highs and even higher.

EDF Daily Elliott Wave Analysis 04.11.2022​

The daily chart below shows in more detail the first stages of the advance higher in wave ((III)). From the March 2020 lows at 5.71, the initial impulsive advance in black wave ((1)) has ended at 12.98 in January 2021. From there, a correction in wave ((2)) shows 3 swings of an Elliott wave zigzag pattern. The 3rd swing in wave (C) of ((2)) has reached the 8.89-6.55 blue box area. There, on March 7th, the bounce in wave ((3)) might have started.

Investors and traders can buy EDF from 8.89-6.55 blue box area. While above 6.64 lows, the target in wave ((3)) will be 13.89-18.38 area and even higher. In a long run, EDF should break to the new all-time highs above 77.79.



Source: https://elliottwave-forecast.com/stock-market/electric-stock-edf-buying-area/

 

[Elliottwave-Forecast]

Precious metals and other commodities continue their bullish run as a result of inflationary pressure and war in Ukraine. In this article, we will take a look at Platinum. Platinum is considered as a precious metal. However, unlike gold, Platinum has industrial application. 75% of the worlds' supply of gold is used in coins, bars and jewelry. Meanwhile, 65% of the world's supply of Platinum is used for industrial and automotive applications. Only four countries have major platinum mining activities. South Africa has the most platinum deposits and accounts for 80% of global reserves. Below is a technical outlook of the metal.

Platinum Monthly Elliott Wave Chart​

Monthly Elliott Wave outlook above suggests the rally from January 1992 ($329) ended Grand Super Cycle wave ((I)) at $2308. Up from January 1992 low, wave (I) ended at $466, and pullback in wave (II) ended at $334. The metal then resumes higher in wave (III) towards $1347 and pullback in wave (IV) ended at $1053. Final leg higher wave (V) of ((I)) ended at $2308 on March 2008. The metal then corrected for 11 years in wave ((II)) which ended on March 2020 low at $562. It has turned higher again in wave ((III)). Up from wave ((II)) low, wave (1) ended at $1348. Wave (II) is in progress as a zigzag to correct cycle from March 2020 low before the metal resumes higher again.

Platinum Daily Elliott Wave Chart​

The daily Elliott Wave chart above shows more details of the monthly chart. Per the count above, we can't rule out another leg lower in wave c to end wave (II). This will be a correction to the cycle from March 2020 low. the potential support will be at 100% - 123.6% Fibonacci extension of wave a which comes at $631 -$739 as denoted with the blue box. This area, if reached, should see buyers and the metal can then resume to new high.

Platinum Daily Alternate Elliott Wave Chart​

The daily chart above shows an alternate chart if Platinum does not make a new low below December 15, 2021 at $886. In the alternate scenario above, we can count wave (II) completed at $886 as an expanded flat. In this scenario, the metal should continue to see further upside without breaking below $886. Either way, March 2020 low is a major low in the metal and it should see further upside in coming years.

Source: https://elliottwave-forecast.com/commodities/platinum-elliott-wave-outlook/

 

[Elliottwave-Forecast]

Kering is a French multinational luxury goods company. Headquartered in Paris, Kering was founded 1963 as Pinault S.A. The company controls and manages 3 prestigious brands: Gucci, Yves Saint Laurent and Bottega Veneta. Kering is a part of CAC40 index. Investors can trade it under the ticker $KER at Euronext Paris.

Kering Monthly Elliott Wave Analysis 04.11.2022​

The monthly chart below shows the Kering stock $KER listed at Euronext. From the all-time lows, first, the stock price has developed a cycle higher in wave (I) of a super cycle degree. It has ended in January 2000 at 268.00. From the top, a correction lower in wave (II) has unfolded as an Elliott Wave zigzag pattern. It has printed a bottom in November 2008 at 31.06.

From the 2008 lows, Kering has broken to new highs. Hereby, this rise shows an extension of more than 2.618 multiples in relation to the length of the wave (I). Without any doubt, one can qualify the cycle higher as the blue wave (III). From 2008 lows, it shows completed 5 waves higher of a cycle degree. From August 2021 highs until today, the blue wave (IV) is correcting a part of the impulsive rise. Once ended, expect the blue wave (V) to extend to the new all-time highs.

Kering Daily Elliott Wave Analysis 04.11.2022​

The daily chart below shows the correction lower in wave (IV) in more detail. From August 2021, the pullback is unfolding as an Elliott wave zigzag pattern. First, five subwaves of red wave a have ended in October 2021. Then, a bounce in 3 swings of red wave b has found its peak in January 2022. From 740.80 highs, red wave c is currently in progress. It has the appearence of an ending diagonal being a 33333 structure.

Investors and traders can be looking to buy the pullback in wave (IV) against 31.06 lows from 545.26-424.40 area targeting 863.50-968.53 area. Alternatively, a bounce in 3 waves as minimum should take place from the blue box area.



Source: https://elliottwave-forecast.com/stock-market/kering-provides-opportunity/

 

[Elliottwave-Forecast]

Back in 2020, during the big pullback in Delta (DAL), we were able to tell members and followers to buy the pullback. We suspect that a nest is taking place A nest is a series of 1 and 2 with extension within the extended portion of an impulse structure. Below is a graph showing how the various nests look like in the Elliott Wave Theory. As we can see there is a series of 1-2 with an extension or strong advance into the upside.

Delta Monthly Elliott Wave Chart​

In the chart above, Delta formed a secondary low in 2009 then it broke higher in 2011. The Grand Super Cycle made a five waves advance and then pullback in three waves, ending in 2020. As we can see, the trend is higher. Since the market does not move in a straight line, there will always be corrections. we label the correction in the Elliott Wave Theory as ABC, WXY, or FLAT. The wave ((II)) pullback in Delta took the form a FLAT, which is labeled as (a),(b),(c) in Blue.

The following chart shows how the five waves advance looks like in the Elliott Wave Theory and the expected three waves pullback.

Delta Daily Elliott Wave Chart​

In the daily chart above, we present the ideal area to buy Delta in the blue box. We can see the reaction since the lows in 2020 which comes with a very nice five waves advance. Currently, the stock is in the process of an ((A)),((B)), ((C)) zigzag correction. Delta already has a clear three waves pullback, thus wave II can technically be complete. However, an extension lower within the ((C)) leg can't be ruled out. We do not recommend shorting the stock. Rather, we recommend buying into the next dip. As we always said, the path to being profitable is trading within the higher time frame such as daily. It provides traders with positions they can hold for years.

Source: https://elliottwave-forecast.com/st...a-nest-into-higher-levels-might-be-happening/

 

[Elliottwave-Forecast]

The $CAC40 Index Bullish Cycles & Longer Term Swings

Firstly the CAC 40 index has been trending higher with other world indices where in September 2000 it put in an all time high at that point. 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 bullish 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. From there the next longer term target area highlighted on the chart was reached in January 2022. 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 in a wave three. If so ideally pullbacks should remain above the March 2022 lows while continuing the trend higher.

Lastly in conclusion the index is now showing a new all time high in January 2022. While above the March 2022 lows & more importantly the March 2020 lows the index should continue higher during this period of multiple world indices bullish trends higher.

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

 

[Elliottwave-Forecast]

East West Bancorp Inc, (EWBC) operates as the bank holding company for East West Bank that provides a range of personal a& commercial banking services to businesses & individuals. It operates through three segments, Consumer & Business banking, Commercial banking & other. It is based in Pasadena, CA, comes under Financial services sector & trades as “EWBC” ticker at Nasdaq.

During the global selloff in early 2020, EWBC made an intermediate low at $22.55. Above there, it confirms higher high sequence as the part of impulse, which favored ended at $93.51 high. Currently, it favors correction lower against the cycle up from April-2020 low.

EWBC : Elliott Wave Latest Daily View:​

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Above $22.55 low, it started impulse sequence higher. It favored ended ((1)) at $43.10 high on 6/08/2020 & placed ((2)) at $30.49 low as 0.618 retracement of ((1)). While above there, it started third wave extension & placed ((3)) at $82.53 high on 3/18/2021. ((4)) favored ended at $65.87 low as zigzag correction, which ended slightly below 0.236 retracement of ((3)). Finally, it favored ended ((5)) of the impulse sequence at $93.51 high on 2/16/2022 as I red. While below there, currently, it proposed doing double correction in II, which will confirm when it breaks below ((W)) low.

Below, $93.51 high, it placed ((W)) at $69.74 low & proposed ended ((X)) at $85.32 high. While below, ((X)) high, it favors further weakness as the part of ((Y)) leg towards $61.59 - $46.86 area to end II correction. ((Y)) will be confirmed when it breaks below ((W)) low. Currently, it appears within 1 red of (A) & expect more downside before it can see the bounce of (B), which ideally should fail below $85.32 high to extend lower in (C) of ((Y)) leg. We like to buy the equal leg area for the next leg higher or at least 3 swing bounce thereafter.

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

 

[Elliottwave-Forecast]

The last time I took a look at Datadog was a few months ago back in Feb 2022. At the time, I was looking for a bit more downside before resuming higher. You can view this article here. As reminder, Datadog is an observability service for cloud-scale applications, providing monitoring of servers, databases, tools, and services, through a SaaS-based data analytics platform.

I was favouring that the low set in Jan 2022 was set. however, the market still was looking to keep correcting the cycle from May 2021. Lets take a look at the chart from February.

DataDog Elliottwave view Feb 2022:​

Instead of remaining above the previous low set in ((2)), the market violated that low with a momentum divergence. This creates an incomplete bearish sequence pointing to lower prices. Lets take a look at the adjusted view below

Datadog Elliottwave View April 2022:​

After bouncing from the blue box in January, Datadog had a sharp rally into (X). After that, another 5 waves down took place. On March 14/2022 a new low violated the prevoious low set in January 2022. As mentioned above, this creates an incomplete bearish sequence. It has momentum divergence, suggesting that more downside is still needed to erase the divergence. After Red A of (Y) found a low, another sharp bounce took place, now peaked in Red B. After that, the next leg lower is now favoured to have commenced. In order to comfirm this prices do need to make a new low below previous Red A.

We can now look lower to the next equal leg area, for where another bounce can take place. The next equal leg area is at 104.35. Prices need to remain above 69.79 in order for this nesting idea to remain intact.

Source: https://elliottwave-forecast.com/stock-market/data-dog-ddog-still-correcting-lower/

 

[Elliottwave-Forecast]

Hello Fellow Traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of AMD stock published in members area of the website. As our members know AMD is trading within the cycle from the 11/30 2021 peak that potentially having a form of Elliott Wave Double Three structure. Recently the stock corrected the short term cycle from the February peak ( 133.48). Recovery unfolded as Elliott Wave Irregular Flat structure. Once target area was reached, AMD stock found sellers as expected and made 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

AMD 4h Hour Elliott Wave Analysis 2.10.2022.​

AMD stock is giving us recovery against the February 133.4 peak that is unfolding as Flat Pattern. If we downgrade the chart, we can see waves (A )and (B) blue are showing corrective sequences. Wave B red has broken the starting point of A red which suggests this correction can be unfolding either as running or irregular flat. At this stage we call for another marginal push up toward 125.04-132.44 area where ((X)) connector should complete. Proposed area is equal legs - 1.618 fib extension area (A)-(B)) blue. It's important the price to hold below 133.48 peak, otherwise if that high gets broken the count would be invalidated and it would be doing the correction of higher deegre.

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

AMD 4h Hour Elliott Wave Analysis 4.7.2022.​

133.48 high held nicely and the stock turned lower from 125.04-132.44 area as expected. Correction has completed at 125.73 high as irregular flat pattern. Now, we would like to see further separation down from that high. The price needs to break below previous 01/27 low - W red, to confirm next leg down is in progress. Once that break happens, the stock will become bearish against the 133.48 peak, and it could be offering us some good selling opportunities within a short term cycles.

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/amd-elliott-wave-decline-flat-pattern/

 

[Elliottwave-Forecast]

The 2011 Fukushima nuclear disaster in Japan resulted in a huge setback in Uranium. Plans for new nuclear power development are shelved and sentiment turns negative for many years after. However, a decade later the case for uranium is strengthening with the green initiative to limit carbon emission. The war in Ukraine also forces the Western nations to look for alternative supply of energy to rely less on Russia for Oil and Natural Gas. With growing demand and much reduced supply, as well as political support turning positive, Uranium could see a huge comeback in the next decade. Below we look at the Uranium Miners ETF (URA).

URA is an ETF consisting of uranium mining companies and the production of nuclear components. It has a $2.2 billion asset under management as of April 14, 2022 with 49 number of holdings in uranium related companies.

URA Monthly Elliott Wave Chart​

Monthly Elliott Wave view in Uranium Miners ETF (URA) above suggests that the top at $134.52 in February 2011 ended wave ((I)) and the pullback to $6.95 on March 1, 2020 marked the end of wave ((II)) low. The miners have started to turn higher and still in the early stage of wave ((III)). Up from wave ((II)) low, wave I ended at $31.60 and pullback in wave II ended at $18.71. Expect the miners to continue higher in wave III. A break above wave I at $31.60 should confirm this view. Pullback should now hold above $18.71 for further upside in the ETF.

Source: https://elliottwave-forecast.com/stock-market/uranium-miners-etf-ura-breaking-soon/

 

[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. Then SOXX made 5 waves down bouncing at 433.28 forming a clear impulse structure. This made us to think at first that we will have a simple 3-wave correction to complete wave IV, but at the end the structure has transformed in a double correction.

SOXX Daily Chart April 2022​

In this new update, we can see 3 swings down from the peak. Wave (A) made an impulse ending at 433.28. Wave (B) pullback built a zig zag correction ending at 507.88. Last wave (C) down made an ending diagonal pattern completing at 418.36 and also the first 3 waves structure as wave ((W)). SOXX rallied almost reached the 61.8% Fib retracement of wave ((W)) being rejected at 501.09 and we called wave ((X)).

The market continued to fall and it is currently close to end an impulse that would be wave (A). Therefore, any rebound that we see should be corrective and be rejected by the market to continue the bearing momentum. This drop could reach 360.74 – 327.55 zone to complete wave ((Y)) of the double correction and wave IV. From this area SOXX should continue the rally and break the peak of 559.02

Elliottwave Forecast updates one-hour charts 4 times a day and 4-hour charts once a day for all our 78 instruments. We do a daily live session where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market.

Source: https://elliottwave-forecast.com/stock-market/etf-soxx-needs-double-correction/