In this blog we take a look at US Real Estate ETF (IYR) reaction higher from the blue box.

The 1 hour chart below is an update from 3/8/2021.We see that IYR peaked at the 90.50 to 91.00 area and completed black wave ((3)) of an anticipated leading diagonal. Down from there, the ETF made 7 swings lower into the blue box. Subsequent to the 7 swingsdecline, IYR completed wave ((4)) at 84.04. In the 7 swings we see blue waves (W), (X), and (Y). Within both blue waves (W) and (Y), we see clear 3 swings subdivisions, which is A-B-C zig zags. Zig zag subdivisions consist of five wabes in A and C, with a correction in B. However, in the chart below, we show only internal subdivisions within red wave C of blue wave (Y) due to chart space constraints.  We also see that the ETF had already started to react higher from the blue box. We therefore proposed the 84.04 level as a level of invalidation.

In the 1 hour chart below from 3/12/2021, we see further separation higher from the blue box. We anticipated this upside move from the blue box. We are able to anticipate such moves with our blue box system. All long positions from the blue box area were already running risk free. The right side remained upside. There is no reason therefore to sell IYR against it’s dominant upside trend.

Up from the blue box area, the ETF rallied in 5 swings in red wave 1. One may need to downgrade timeframe in order to see the  swings in red wave 1 clearly. Naturally, we saw a correction follow in red wave 2 as per Elliot Wave nature of a motive sequence. We confirmed the next leg higher in red wave 3 once red wave 1 peak was broken. Although incomplete, we expected continuation higher in red wave 3, then 4 and 5 of bigger degree blue wave (1).

 

 

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.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD holds above 1.22 as the dollar slides across the board

EUR/USD has extended its gains and has topped 1.22, the highest since February. The safe-haven dollar is weakening amid the risk-on mood and as the Fed sticks to its dovish policy. US housing figures were mixed. The Fed's Bostic is set to speak later. 

EUR/USD News

GBP/USD extends corrective slide below 1.4200

GBP/USD trades around 1.4180, retreating from 1.4219, the highest since February. Britain's unemployment rate surprisingly dropped to 4.8% as the reopening continues. The dollar is on the back foot amid the upbeat market mood.

GBP/USD News

XAU/USD consolidates below $1870 amid risk-on mood

Gold price has entered a phase of upside consolidation, having faced rejection once again above $1870. The gold price looks unimpressed by the latest leg down in the US dollar, amid dovish Fed expectations.

Gold News

SEC attempts to block XRP holders from presenting evidence in Ripple case

The Securities & Exchange Commission filed another objection to the motion to intervene by XRP holders. The government agency argues that allowing third-party defendants into the case would “sow chaos” into the litigation.

Read more

Coinbase reveals intention to raise $1.25 billion following direct listing

Since its debut on the Nasdaq, Coinbase’s share price has merely collapsed. Given the recent weakness in its stock price, the leading cryptocurrency exchange is looking for a further cash injection. 

Read more

Majors

Cryptocurrencies

Signatures