Elliott Wave Forecast Team
ElliottWave-Forecast.com
We’re going to take a quick look at the Elliott Wave charts of IBEX index published in members area of the Elliottwave-Forecast . As our members know, IBEX is another index that has given us good trading opportunity recently. The index is showing impulsive sequences in the cycle from the March 2020 low. Also showing incomplete higher high sequences in the cycle from the 10/25 low, suggesting further extension higher. We recommended members to avoid selling and keep on buying the dips in 3,7,11 swings. Recently we got short term pull back that has given us opportunity to enter long trades again. In further text we’re going to explain the forecast and trading strategy.
IBEX 1 hour Asia Elliott Wave analysis 5.13.2021
IBEX is correcting the rally from the 3/23 low. We assume 4 red pull back is still in progress as Elliott Wave ZigZag pattern. The index made 5 waves down from the peak in ((a)) black and 3 waves bounce in ((b)) black. Ibex should ideally give us another leg down ((c)) of 4 before buyers appear again for further rally or 3 waves bounce alternatively. We don’t recommend selling it against the main bullish trend.
IBEX 1 hour London Elliott Wave analysis 5.13.2021
IBEX made proposed leg down and reached equal legs ((a))-(b)) at 8851.83-8726.04 . At that zone we would like to be buyers , looking for further rally toward new highs ideally. As the main trend is bullish, we should get 3 wave bounce at least from the Blue Box buyers zone. Invalidation level for the trade would be break below 1.6148 fib extension (8726.04). As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a bounce. As soon as the price reaches 50 Fibs against the ((b)) peak, we will make long positions risk free ( put SL at BE).
IBEX 1 hour Elliott Wave analysis 5.17.2021
The index found buyers right at the blue box. We got nice rally from the buying zone, when the price break above previous peak. Break above 3 red peak suggested next leg up is in progress. The index is now bullish against the 8804.1 ow in first degree. Members who took longs at the blue box are enjoying profits in risk free trades.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.
FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.