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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.

Ondas de Elliott para análise da correlação de 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.

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. Gold weekly Review: Wave Analysis   For the past few weeks, gold markets entered into a bearish consolidation only trading within the descending channel. As long as the yellow metal trades within this channel, we expect further momentum to the lower side. in the meantime, we're waiti

2016 EURUSD GBPUSD USDJPY
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Wave Analysis: Yesterday around 16:00, Euro spiked violently to the upper side but ended up closing below 1.0444. We were waiting for the corrective wave (b) to rebound from 1.04113 to buy the impulsive wave (c), however, as it appears, the level 1.04270 marked the end of the corrective wave (b) an

Wave Analysis: As expected, the pair traded massively short during the previous trading day and is still showing signs of potential bears dominance. As long as the pivot level 1.2412 limits any invasion to the upper side, we expect a possible bearish wave count towards 1.2029. A break below this le

Wave Analysis: Instead of a correction towards 118.03, the pair entered into a bearish consolidation, only trading within the descending wedge. As long as the pair remains within this wedge, we're only interested in trading reversals, any clear breakout out of this wedge will call for a breakout tr

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