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Ewbelgium

ADBE - Follow up - Getting ready to rallyOn my previous post a few days ago, I highlighted this orange zone from which a bounce is highly likely if the primary count is correct. Today we are seeing it go up with other mega caps. Right now it look like it's making a 5 wave advance which would be a great bullish sign but we only have 3 waves up for now. I already have a position here but I will look to add to it if we get 5 waves up followed by a correction lower which needs to remain above 453.2 !
NASDAQ:ADBELong
by ElliottWaveBelgium
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DADA - Up it goes 45.8 first, 58.8 nextThis is a follow up to my previous post you can check out below. Bullish view is intact as this one (any many other Chinese stocks) have held perfectly during current market correction. As long as invalidation holds, I see no reason to not have a position here and in Chinese stocks in general (other good one for exemple is ZI) Previous post: Don't forget to follow and give a thumbs up if you like my content. The more you appreciate my work, the more I'll share for free.
DLong
by ElliottWaveBelgium
DAX - Simple bullish breakout setupThis is a simple setup that could yield around 300-350points. Simply waiting for a break above the resistance zone. Personnaly, I'm putting a buy order at 13250 with a Stop of 60points. If we see a big candle breaking higher with high volume confirming the move, I will immediately move my stop to it's opening price. Beware fake-outs though ! If price breaks out but comes back down again, support is around 13150 at first followed by 13096 next. If this goes below that level I will simply cancel my order.
OANDA:DE30EURLong
by ElliottWaveBelgium
S&P500 - Bulls still not out of the woods ...S&P500 - Despite the optimism we're seeing in the markets today, I wouldn't go on a buying spree right away. Many setups have been popping up but I still believe we're in a bad phase right now and there is a high chance for markets to sell off and make new lows. What the catalyst might be, I don't know... Maybe Trump will not acknowledge the results ? Who knows What I do know is that it's possible we're in a Flat correction here (or next leg of a sideways Triangle) therefore be particularly careful because the potential sell off could be very sharp!
FOREXCOM:SPX500
by ElliottWaveBelgium
Nat Gas - Classic patterns vs Elliott WaveWe can make the case for this being a rising Wedge Pattern or in terms of the Wave Principle, an Ending Diagonal fifth wave. Looking at the Wedge pattern, there's nothing wrong here and we can short if price goes outside the pattern. But there are two problems with this view according to the wave Principle : 1) Wave 4 did not enter wave 1 territory altough this can happen on rare occasions. 2) Proportions wise, wave 3 is bigger than wave 1 which is possible in case we have an Expanding Diagonal but because wave 4 is smaller than wave 2 here, I don't think that's the case. This then leaves us with the Extended fifth wave possibility I talked about on the last update. We can therefore expect something similar to this or possibly even much higher prices than 4.00 if it really starts to get extended.
NLong
by ElliottWaveBelgium
NZDUSD - Follow up to previous post This is a follow up to my previous post and is here simply to show the effectiveness of the Elliott Wave Principle and one way to apply it. We shorted this ending diagonal right after closing our longs because for 2 reasons : 1) We got an Ending Diagonal wave 5 which should be followed by a sharp reversal. 2) We got could count 5 waves up, and the wave principle tells us that a reversal should then follow. Here's how we played this with my subscribers: 14 Oct 18:13 :I'm shorting this one. 20pip risk is nothing 16 Oct 01:23 : Our short was a great idea and played out perfectly here. I'm going to close and take 2/3 of my profits and move stop to 6652 for the rest. 20 Oct 01:52 : I prepared the chart yesterday but didn't find the time to look it up today and sadly missed a nice opportunity to re-enter again on those one... Sorry 🙏 Let's now see if it can go outside this rising channel and below 6576 at which point we maybe can get a new shorting possibility. 20 Oct 17:09 : Testing lower channel line. If it stays sideways here, we could get a new short entry possibility.
by ElliottWaveBelgium
S&P500 - New high comingAlthough we have the risk of this being a 3 waves rise, by the looks of it I tihnk we'll see a new high as this move has the caracteristics of a corrective wave 4. Looking at the number of stocks that keep on breaking out of corrective bases and making new highs (look at my profile) but also looking at the Advance/Decline Line we can see that we have positive divergence with ADL making new high while the indexes are still below their previous high, this gives me confidence in my outlook that the move higher will continue.
FOREXCOM:SPX500Long
by ElliottWaveBelgium
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