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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.

18 - 22
October
weekly
forecast
18 - 22
October

 SPX500 Weekly Review Wave Analysis During the previous trading week, the Standard Poor Index rallied intensely to the upperside and even went above the upper trendline. While the price remains above this line, I expect nothing but a possible momentum to the upperside, this is the continuat

2021 EURUSD GBPUSD USDJPY
22
October

Wave Analysis During the previous trading month, we had a massive surge to the lowerside and even ended up below 1.1778. As long as the price remains below this level, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally will be the continuation of a corre

Wave Analysis The British pound continues to consolidated above the upper trendline and is not showing any signs of breaking below it. While we continue to see sustenance above this trendline, we expect nothing but a possible momentum to the upperside and should head straight towards 1.7184 and may

Wave Analysis During the previous trading day, the US Dollar corrected itself to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. The anticipated bearish price rally is the continuation of the corrective wave (4) to the lowerside but should not go beyond 11

21
October
20
October
19
October
18
October
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