Picture of the author

This forecast is based on the Elliott Wave Principle which states that investor psychology is the motor behind the stock markets. In this analysis however, the analyst not only observes the previous price patterns, but also takes into account the correlation between different pairs before releasing forecasts.

Elliott waves analysis

Support and resistance system should only be used in a higher timeframe chart, like one hour and above. This is necessary because at such a higher time frame, brokers cannot manipulate the price to my disadvantage.

How I draw strong support and Resistance

Before I call a level strong, the same level must met the following conditions.

  1. Must have been used as a support before.
  2. Must have been used as a resistance before.
  3. There must be a big candle that broke through it at one point in the past!

Again, when drawing my support and resistance levels, I use a range, not a single line, this is because price tends to test particular level before retrieving, range caters for these levels.

25 - 29
25 - 29

DJI30 weekly Review Wave Analysis Dow is currently rallying within an expanding wedge formation. On this chart, we are waiting for a bounce from the upper trendline to pick  a low risk sell position expecting price to continue to the lowerside with an ultimate target set at 30928.00 and c


Wave Analysis During the previous week, Euro successfully broke and closed above the upper trendline. While the price remains above the upper blue line, we expect nothing but a possible momentum, to the upperside. The anticipated bullish price rally is the continuation of the corrective three wav

Wave Analysis The British pound is currently rally in an up trend. Following the bounce from the level 1.36409, we expect nothing but a possible momentum to the upper side. The anticipated bullish price rally is the continuation of an impulsive wave count but should not go beyond the upper trendl

Wave Analysis Earlier today, the Us dollar bounced off from the upper trendline and is currently heading to the lower side, while the price is not able to break and close above the upper trendline, we expect the recent rebound from the upper trendline to be the continuation of the last impulsive

Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
We will be pleased to answer any questions you may have


Get bonus