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-Wellen Analyse für Forex

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.

2020 EURUSD GBPUSD USDJPY
10
August

Wave Analysis Last week, the last impulsive wave (v) failed to break above the end of the impulsive wave (iii). As long as the price remains below the end of the impulsive wave (iii), we're expecting a possible correction to the lower side, ideally, we are expecting the impulsive wave (v) to have

Wave Analysis The British Pound corrected itself to the lower side and even went below the alligator indicator attached, while the price remains below this indicator, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of a correctio

Wave Analysis Last week, nothing much appears to have happened on this pair, the US dollar closed just a few pips away from its opening price, we are expecting a possible break above either the previous week's highest high, or a break below the previous week's lowest low to pick a possible long t

Close
Einloggen
Ihr Browser unterstützt kein Cookie. Wenn Cookie in Ihrem Internet-Browser deaktiviert ist, können Sie Probleme mit dem Rendering Personal Area haben. So aktivieren Sie die Cookie-Unterstützung.
manager photo manager photo
Online-support
Wir freuen uns auf Ihre Fragen zu beantworten

schreiben

Get bonus