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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.


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 Mts weekly review Wave Analysis On Thursday last week, the shares of MTS rose above the level 264.35 and is still above the level. The line 264.35 is a key line and as long as the price remains above it, we expect nothing but a possible momentum to the upperside. The anticipated bullish price r


Wave Analysis: Euro is still being contained above the monthly support level 1.12471. Our previous week’s recommendation still holds true, we’re still waiting for a bounce from 1.12471 to pick a buy order. If you bought this pair previously and is still having this position open, you can still reb

Wave Analysis: During the previous trading week, the cable successfully closed below 1.33015. This is a key weekly resistance line and while it holds price below it, we’re waiting for a clear sell signal. As it is on the weekly chart, conservative traders should have their pending sell orders arou

Wave Analysis; During the previous week, the corrective wave (ii) went a bit lower than expected and is now below 110.838. This was a bearish move, but on the monthly chart, this pair is still upwards and chances of continuing even higher are very high. The idea is not to look for a buy order, but

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