Elliott waves analysis

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.

Subscribe to our RSS
Elliott waves analysis feed

Start
trading

OPEN
DEMO ACCOUNT

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.

Must have been used as a support before.
Must have been used as a resistance before.
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.

16 - 20 September	weekly forecast 16 - 20 September Gold, SIlver and SPX500 weekly Review Silver Wave Review Wave Analysis During the previous week, the corrective three wave cycle extended significantly to the lowerside and is still pretty much bearish. We expect the bounce from 18.480 to have marked an end to the corrective wave (b) that the currently bearish price rally is the co More
2019	EURUSD	GBPUSD	USDJPY
20 September	Sell a rebound from the upper trendline towards 1.09220. Wave Analysis During the previous trading day, Euro failed to continue to the lowerside and instead is continuing to consolidate below the upper trendline. As long as this trendline is not violated to the upperside with an big green candle, We're patiently waiting for a clear sell signal to pick a More	Waiting for a sell from 1.26770. Wave Analysis During the previous trading day, The impulsive wave (c) continued massively to the upperside and is still pretty much bullish both on the daily and the weekly charts. As long as the price is contained above 1.21520, we expect nothing but a possible continuation of the impulsive wave ( More	Buy US Dollar from the immediate trendline towards 109.65. Wave Analysis Nothing much appears to be happening on this pair. The US Dollar is still rallying above the upper trendline. While the price is contained above this trendline, I expect a possible extension of both the impulsive waves (c) and 5 and should continue massively to the upperside towards 1 More
19 September	On the sidelines.	Wait	Wait for buy positions towards 109.15.
18 September	Sell a rebound from the upper trendline with your target at 1.09050.	We're looking for a buy position towards 1.26770.	Look for buy positions above 107.65.
17 September	We're looking for a good long term sell order towards 1.0925.	We're looking for sell orders towards 1.21930.	Look for buy orders towards 109.65.
16 September	Sell a bounce from the upper trendline with your take profit at 1.0925.	We're upwards towards 1.27160	Wait for a low risk sell order towards 104.20.

Elliott waves analysis

Our best awards: