Elliott Wave Forecast Team
ElliottWave-Forecast.com
The Charles Schwab Corporation (SCHW), together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody & financial advisory services. The company operates through, investor services & Advisor services segments. It is based in Texas, comes under Financial services sector & trades as “SCHW” ticker as NYSE.
Since 2011 low, SCHW gave the biggest correction in March-2020 & made a low of $28.00. Thereafter, it made an all time high of $96.24 as impulse sequence ended on 2/09/2022. While below, there it correcting lower against the cycle form March-2020 low.
SCHW – Elliott Wave latest daily view
It started impulse sequence from $28.00 low on 3/16/2020. It ended ((1)) at $39.09 high on 4/29/2020 & ((2)) as flat correction at $31.63 low as 0.618 retracement against previous cycle. Above there, it started third wave extension & favored ended at $76.37 high on 6/04/2021 as around 2.618 extension of ((1)). It corrected in ((4)) at $65.73 low on 7/20/2021. Finally, it placed ((5)) as wave I red at all time high at $96.24 on 2/09/2022. Currently, it favors correcting lower against the cycle from March-2020 low.
It placed ((A)) at $74.63 low & ((B)) at $93.16 high. While below there, it favors ((C)) leg down as the part of zigzag structure in wave II. Currently, it appears ended (3) at 63.34 low & favors a corrective bounce of (4) of ((C)) followed by one more leg down in (5) to finish the corrective sequence. We like to buy the dips in proposed blue box area between $71.58 – $58.19 for the next leg higher or at least a 3 swing reaction higher.
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 edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.