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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.

19 - 23
October
weekly
forecast
19 - 23
October

Brent Oil Weekly Review   Wave Analysis Last week, Brent Oil rallied massively to the upperside but could not breakout above the zone 43.603-43.801. While the price remains below this zone, we are expecting a possible momentum to the lowerside. The anticipated bearish price rally is the cont

2020 EURUSD GBPUSD USDJPY
22
October

Wave Analysis Yesterday, Euro rose massively to the upperside but could not go beyond the level 1.18850. As long as the price remains below this level, we are expecting a possible correction towards 23.6% fib level, and should the price breakout below this fib level, then we will be expect further

Wave Analysis After establishing a resistance level around 1.31795, the cable pulled back to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below this level,we expect nothing but a possible momentum to the lowerside, the anti

Wave Analysis After the end of the impulsive wave (iii) around 104.385, the Us dollar bounced off from this level headed straight to the upper side, we expect this rebound to be an end to the third impulsive wave, that the current bullish price rally is the continuation of the corrective wave (iv)

21
October
20
October
19
October
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