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Eliottwavetheory

GDX An Incomplete sequence Favors More DownsideThe Elliott wave view in GDX suggests that the main cycle from the August 20, 2020 peak is showing an incomplete sequence. Favoring more downside to happen based on sequence towards $24.80- $21.36 area lower before a turn back higher happens. While the short-term cycle suggests that the decline to $30.05 low ended wave 1 of (C) in 5 waves lower. Up from there, GDX did an expanded flat correction in wave 2 bounce. While an initial 3 swing bounce ended wave ((a)) at a $31.59 high. Down from there, wave ((b)) also ended in 3 swings at $28.90 low. Then the bounce in ((c)) leg unfolded in 5 wave impulse sequence. In which, wave (i) ended at $30.16 high, wave (ii) ended at $29.95 low, wave (iii) ended at $31.54, wave (iv) ended at $31.19 low, and wave (v) ended at $31.77 high. Thus ended wave 2 as an expanded flat correction. Below from there, GDX declined in 5 waves lower & ended small wave ((i)) of 3 at $30.15 low. And now doing a 3 swing bounce in wave ((ii)), which can see $31.29- $31.51 area before turning lower again. Near-term, as far as bounces fail below $31.77 high then ETF is expected to fail lower looking for more downside. Alternatively, if it breaks above $31.77 high then it can even see $33.01- $34.77 area higher before seeing sellers again.
AMEX:GDX
by Elliottwave-Forecast
Nifty 50 Elliott Wave Theory Analysis(Updated)Nifty started fresh uptrend in August month. As of today i believe we are in the correction wave which is of type expanded flat. After some more consolidation Nifty is likely to continue its bull momentum to complete the wave 5. If the 17000 level is broken then this analysis gets obsolete. *Correction in past post:- End of wave 4 stays above end of wave (iii) of extended wave 3. That is corrected now and the updated targets are there. *This Analysis is for Educational Purpose only.
NSE:NIFTY
by Altradr
1
GBPJPY. Short Possibility (Medium Risk/ High reward)hi dear traders. For today we can watch GBPJPY, as it is about to complete a correction, which seems to be an ABC. price has reached to a strong PRZ and also time factors has been satisfied. we can speculate that this correction is at its end and wait for a conformation to go short. If price manages to hit its Trigger (few ticks lower than 153.663), we can enter a short position with MEDIUM risk. It is medium since there are no reliable Low swing near PRZ to put our Trigger under it. So it is vital to manage your position size according to the risk of this trade. I'll answer to your questions. have a good day.
Short
by HunkIsHere