SPX & EURUSD shorts played out precisely as discussed in the last webinar.
368 trades discussed during last 145 webinars played out precisely.

Timestamps:

• 00:56 – About Us
• 03:58 – 1.25% move caught in EURO
• 08:44 – EURUSD (Precisely as per analysis)
• 14:26 – Crude Oil
• 15:43 – Gold (Moving as per analysis)
• 23:15 – 140 points profit (Live SPX trade)
• 27:50 – SPX (Precisely as per analysis)
• 33:02 – Nifty
• 41:35 – Tata Motors (50+ points move caught)
• 43:30 – Bitcoin

Note: This edition demonstrates the capability of advanced Elliott Waves application in forecasting market moves. Specifically, trades on EURUSD & SPX were executed well before the actual Fed Rate Cut event on December 19th; even so, we were able to capture almost the entirety of the move.

Specifically 1.25% down move on EURUSD & 140+ points on SPX.

Don’t miss on the next best trading opportunity, become a part of our weekly market update webinar series “Trading Opportunities.”

The post 146. Gold & SPX: Downside targets smashed | Trading Opportunities (Forex, Commodities, Indices & BTC) appeared first on 50 Eyes Market Analysis.

An excerpt from the webinar : 

What’s Included : 

1. Duration of the webinar recording : 2 Hours, 18 minutes

2. Language : English

3. Access to view the 24th July, 2021 webinar recording for three months.

4. Markets Discussed : Crude, Gold, SPX, Nifty 50 & Live trade (100% return in single trade).

5. Your access is strictly limited to viewing the recording and no email or any other support is included.

6. Emails asking for trades and other market updates will not be answered.

7. Link to view the video with complete details will be sent via email after the recording is uploaded around 8 PM IST on 24th July, 2021.

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The post Premium Access – Applied Elliott Wave Webinar (24th July, 2021) appeared first on 50 Eyes Market Analysis.

Possible trading strategies using Elliott Wave for January and February 2021 have also been discussed wherever applicable.

It also gives me immense pleasure to announce that 2020 marks 5th year in a row with 80% plus accuracy, which is a Track record that surpasses all industry standards.

>>> Analysis on Crude Oil, Nifty 50, Axis Bank and Amazon played out as discussed in last webinar.

As more participation is required to continue doing these webinars, I request all viewers to share the 5 year forecast accuracy and last webinar with atleast 5 people in their contacts, your efforts to spread the word are much appreciated.

Timestamps :

• 01:30 – Ending 2020 with almost 90% accuracy
• 06:20 – Crude Oil
• 14:00 – Gold
• 22:00 – SPX
• 30:12 – Nifty 50
• 40:20 – Axis Bank (NSE Stock)
• 47:10 – Amazon (NASDAQ Stock)

Learn Elliott Wave Principles :  Video Course

Details for Training Program LT batch can be requested here : Click Here

To receive invites to upcoming webinars subscribe to Emailing List.

80% plus for Forecast Accuracy for 5 Years : Track Record

Disclaimer – All content presented here is strictly for educational purpose, do read the complete site disclaimer before taking any action.

The post 24. Applied Elliott Wave Webinar (80% plus accuracy for 5 Years) Jan. – Feb. 2021 appeared first on 50 Eyes Market Analysis.

Possible trading strategies using Elliott Wave for December 2020 and January 2021 have also been discussed wherever applicable.

It also gives me immense pleasure to announce that 2020 marks 5th year in a row with 80% plus accuracy, which is a Track record that surpasses all industry standards.

>>> Analysis on all four instruments discussed in last webinar (Crude Oil, Gold, SPX and Nifty 50) played out as expected.

Timestamps :

• 02:00 – 89% Accuracy for 2020
• 03:15 – Discounts on Courses (Limited Time)
• 04:50 – Crude Oil
• 15:10 – Gold
• 23:48 – SPX
• 33:00 – Nifty 50
• 42:32 – Axis Bank (NSE Stock)
• 44:12 – Amazon (NASDAQ Stock)

Learn Elliott Wave Principles :  Video Course

Details for Training Program LT batch can be requested here : Click Here

To receive invites to upcoming webinars subscribe to Emailing List.

80% plus for Forecast Accuracy for 5 Years : Track Record

Disclaimer – All content presented here is strictly for educational purpose, do read the complete site disclaimer before taking any action.

The post 23. Applied Elliott Wave Webinar (Crude, Gold, SPX, Nifty, Axis Bank, Amazon) Dec. 2020 – Jan. 2021 [80% plus accuracy for 5 Years] appeared first on 50 Eyes Market Analysis.

Possible trading strategies using Elliott Wave for October and November 2020 have also been discussed wherever applicable.

Timestamps :

• • 00:58 – Regarding Training Program LT
  • 02:14 – Crude Oil
  • 07:24 – Gold
  • 17:20 – SPX
  • 23:38 – Nifty 50
  • 29:55 – Amazon (NASDAQ Stock)
  • 34:40 – Aurobindo Pharma (NSE Stock)
  • 38:15 – Bank Nifty

So let’s start off with the disclaimer on screen suggesting that all content presented here is for educational purposes and not soliciting any buy or sell. If you do go on to use the views presented here, you yourself will be liable for your profits, losses, or loss of profits. And moving ahead, like to give a small introduction, my name is Neerav and I’ve been doing this monthly applied Elliott Wave webinars. And this will be 21st in the series of these applied Elliott Wave webinars that I do. So you can check more of my work by visiting my website www.50eyes.com and you can check the webinars, they are always posted below here, or you can just check them in the market analysis section. Apart from this work, I also do run classes and I also have like personal classes, I also have a passive video course which you can check out by going over here. And for any inquiry regarding classes, you can make the inquiry using the training program LT form which is at this link. This will be posted in the description of the video after this video is this webinar is uploaded to YouTube later on. We will talk more about the course and coming batch, maybe near the end. And for now let’s get started with the webinar. Before we start with the discussions, let’s have a quick look at the last webinar that we did. Because we will first be comparing what we discuss in the last one and we will then check back with the current scenario in the market. Hello, Rajiv, I see you have joined in Alex, as well. So give me a final note if my voice is clear, and then we can start. Okay, thank you. Thank you, Alex. So let’s start off with the crude oil. And from what I recall, in the last discussion, we were a bit unclear. And I was saying that it would be better if we wait for a bigger pullback, and then the rise up. But anyways, let’s just look at the video quickly on 3:10. We have discussed crude oil. And on another note, always turn the video quality to 1080p, those of you who would be checking this later on, because it does not look good on any other setting because the dark background. So that’s the analysis last time. And yeah, so that’s the main view, my view was that either it will give a bigger pullback to 38.2 and then rise up or it is possible that it can go straight up, but I will not be interested in going long. That was the clear view here. And the strategy was to wait for a possible sell off to what is 31.2 something levels. If there is a sell off till those levels, then we will be interested in analyzing this market for Long’s. And he was coming back to the actual data, we have been sort of sideways in the range of 4130 to about 36 from then on. And we still have not went lower to achieve that 3120 level either. So I believe that we may be having a correction continuing over here. So just to emphasize on the current scenario, I think this leg down, if we take that as the first leg down, then we have this sideways correction continuing, which I believe is A up and then ABC for B down and then C up. So basically a flat correction, which should then later on be followed by one more leg down. So once this progression is complete, then we can possibly expect to take some long positions on the next leg up. And also keep in mind this does not look like a very clear case of correction. This is way too much overlap. So it is also possible that this might turn into some more complex formation rather than the simple flat that I just suggested. But in any case, the idea is to wait for a break lower than this level of 36 possibly to the 38.2 levels of 3128 or the 3120 or what was that? Yeah 3120 level. And if we do see the market near those levels, then or basically we see the market below this level of 36, we will then start to analyze it for possible longs. So still no clear trade opportunity here, but still awaiting both. There is one other possibility, this is your A up and this is a triangle instead of a flat then you can have that up leg before the fall. That is definitely possible. But the whole thing is that it will still be not that terrible from a swing perspective. Yeah, but this count can come in handy if we see a breakout above the last time 42 ish, or recent high of 42. It’s just that there are multiple possibilities that can happen when the market is in a complex correction as it is as of now. So that’s why I just don’t want to dwell deep into it, because there will be another scenarios coming out if we start doing that. And then the discussion becomes inconclusive. For instance, right now, I just discussed that there will be a scenario like this down and then up and then down. And the second scenario is sideways, and then straight up and then down. So basically, both scenarios are pointing in different directions. So that’s my whole point. It is a bit unconducive. Just like the last time we discussed. Obviously, we need to keep following it on a shorter time frame, keeping the higher and downside levels in mind. But it’s not really the market for that just say a clear trade right now. If there is any doubt, do put them in or just type type in clear. sajou I believe I’ve already clarify what you were saying. Let’s move on to gold. So the last time we discussed gold, it was checked somewhere over here. Yeah, so the view was that either the wave 4 is complete the circle wave 4 and it will Head up for upside. And for that there was a trigger near these highs. Let me see if I have the, if I can get to the exact point where that it discussed in the last webinar. Yeah, so I believe this must have been the trigger high for possible Long’s. And there was another level that we marked it. I believe it was this lower level, either this one or that one. So the point was, unless this trigger high is breached, there is no long and once it’s breached there will be Long’s and from what I recall, this was never breached. Instead, the market went lower for the second hypothesis, which I believe was discovered after this one. Yeah, so second hypothesis was that the wave 4 is check where it is discussed. Yep, there it is. So the second hypothesis was this three is here and four is complete already. And but it’s complete not here, but over here. And if it’s complete over here, then this five is already complete, that is a possibility and in that case, we can see a bigger ABC pullback. Now, for that we had these targets of this level and the lower level of about 1720.3. Let’s check that on the actual chart now. So as we can see, the upside target was never triggered. So we relegated any possibility of bullishness. Second was overview that wave 4 is complete over here, then we will see more upside. Okay, so this is another chart I’m working with. Just give me one second and let me figure out the actual chart. So kindly get my hands on the one, which we use and last one actually have a lot of gold charts open right now. So I’ll just continue with the counts that I have on screen because I know what the analysis. So from here on, taken this as the leg down as the a wave, and it could be a wave one, but we’ll just go with the corrective continuation, keeping the bullish bias in mind. Secondly, this price moment is still sideways. So I’m considering the possibility that this might be a triangle over here, like this. And if that’s the case, then we will have an A here and a B here, which will then be followed by next leg down for C. Once this wave B is complete, which we are expecting as a triangle, then we can just measure the length of wave a and project it from the end of that to get our possible targets for wave C. And moving on with this progression, we can say that this is over a of the triangle, this is of the B of the triangle and that is for those guys who might not be very much aware with Elliot wave, I would just like to point out a triangle has five waves inside of it. If we roughly draw them, then it would look like this. They are mentioned as A, B, C, D, and E. So C and then your D and then an E. So that’s your rough outlook for a triangle. So in this case, we have the A over here, B over here, and C which is supposed to go up is looking like it’s possibly continuing. Now if it’s continuing, then most likely This is the first leg up correction and this will be the next leg up for the C of the triangle then there will be a D and an E. So basically, we are still expecting corrective movement in this market. Basically sideways movement is the proper word here. Because it will remain range bound within this box. So Anywho, if this is the pattern here, then the triangle will look something like this, once this wave a is complete, which will have two waves remaining before it’s in the formation, then we can look for some shorting in this market. That is only if this count is being followed. So that’s for our quick look over there. And I believe I have also done the short term analysis. So let’s check by zooming into the last price. So this I have taken this leg up as a possible leading diagonal over here. Followed by wave B, which looks like a, b, c, d. So this I’m not really convinced with this triangle. So I’ll just remove it. This could be a flat formation, which is still continuing. So I believe this may have a leg down but not necessarily basically, we are just waiting for possible Long’s on this market. So I’ll just put a trigger here. Once it is clear about 1925 then I can reevaluate the count of this structure and think about going long. So that’s it for gold sideways, because we are expecting a triangle. And once that is complete, possible sell off. I believe it is rather clear. But if you guys have any doubts, do post them in the comment section. And I’ll make sure to get back that’s our main hypo by the way. Second hypothesis would first can you clarify guys that if you’re clear on this one, before we move on to the next possibility Okay. <span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span>So, the second possibility will be that this thing is already complete and this was the wave A this is the B complete at a triangle C down is also complete and this is starting a new move up and this leading diagonal is a wave 1 and this correction as flat or whatever will be our 2 and then there will be a wave 3. So but that doesn’t really matter at this point because in either case, we are looking for this up leg from shorter timeframe at least because even that triangle count this was over wave c right. So, hypo 1 and hypo 2 are suggesting that for short term at least we have upside remaining overall swing perspectively we have sideways movement as per hypo 1 short term up as per hypo 2 overall we have bullishness swing perspective and short term also up. So, basically, I’ll we looking for possible Long’s on gold given the fact that both hypo 1 and hypo 2 are pointing in that direction. So, I guess we are clear on this, right. The second one is a rather easy outlook. So, just type in clear quickly so we can forward to looking at s&p followed by nifty. What about other guys? You catching my pace? Too fast? Too slow? It’s okay. Let me know any feedback? Okay, Rajiv. So let’s check the chart of s&p over here. And let’s first quickly look at what was discussed last time in s&p around 22. From what I recall, it was a corrective movement up is what we were checking. What’s taking so long to load. Am I still connected here? Can you guys confirm? This video is not loading up. Okay, thanks. Let’s just Yep, it’s working now. That’s the count over here, we were expecting that it is either a W X Y complete over here to be followed by down leg or W X Y followed by a wave x, possibly as a zigzag, which will then be followed by Z. This was x in this scenario. So anyways, the main idea was that from a shorter time frame perspective, we were expecting a down leg now the clarification was not there that if this download will turn into a downfall that or bear fall, or will it just be a small downward movement which will be then followed by a new leg high. So and I believe it did go down from that level than we were discussing it. It was somewhere around 3329. Looking at the chart right now 3329. September so we must be let me check the exact date Posted on 20th. So yep, so from here on, we did go down. Right, the moment was not very huge, but we were not really expecting a we did not have an expectation either it will be a huge moment or small. Both things were possible, but the direction was only clear from a shorter timeframe. So now it seems to me like that we are still going on with the count of W X Y X Z and the possibility of this being if this is the y then this being the x still continuing is still there. Because it will look at this moment from the end of the wave y then we have A, B and C followed by another A B and C. So maybe a triangle or maybe some sort of complex formation. And once that is complete as an another x then we can have the next leg. That’s one possibility which is still suggesting that one more up like might be remaining before the expected fall. Right and that would mean That this market will remain sideways and then go up. Second possibility is that it will look at this last price action. And you can simply say that this is a diagonal structure over here, right. And you can say that this Y was complete, and this marked the end of the up leg. So in that case, you can say this is one, this is two, and that would mean that it should just fall from here for the three. So clearly, this third diagnostic cannot be ignored, it is a rather clear pattern. So it’s a, again, a bit of a wait and watch situation in the S&P, we will have to see which count is being followed. Because upleg remaining is still a strong possibility. And straight down is again still a real possibility here. I’ll just remove the clutter here, by the way, just to remind us Y complete here and this is by the way, a triple zig-zag formation if you are not aware, then it looks like this on the bigger picture chart. First leg up is W, second leg is down is X, next leg up is Y and all these legs are in three wave formation. So what happens is either the market completes at the Y or it gives one more leg up. So if it is completed already at the Y, then straight down movement can be seen from there. However, there is no clarity if it’s already complete, or it’s still continuing sideways. So I’ll say wait and watch here and keep this leading diagonal idea in mind because it is a clear formation. So based on that short term bias, we can even look for possible sell offs. But from a swing perspective, it can remain sideways in this range, because it could be as I mentioned previously be a triangle which is followed by a leg up for Z. So short term bias, selling ideas can take place here that is possible selling opportunities can appear. From a swing perspective by it is 5050 we are still unclear if it’s going to go up or down. Only thing is if in the next few sessions it remains 333 formation that is triangle kind of your complex kind of formation, then the possibility of Z wave remaining into the upper direction will become stronger. Otherwise, I will not comment and we’ll wait to see what happens. Let me know guys if there is anything unclear on this chart regarding this discussion on S&P in the comment section. Alright guys, so in that case, just to elaborate before we move on, first one was a triangle that is sideways, and then up. And second is straight down for wave 3. So that should just clarify whatever we discuss. So move on to nifty where we had a similar count last time and we discussed just to check back was around 31. So sort of the same count as the S&P W, X and Y formations. And we were still speculating if X is continuing, which will be followed by another up leg or will we see a fall from here? But in either case, we were expecting short term downward movement, because this was a leading diagonal. So A or 1 down, B or 2 up, C or 3 down and this was around the levels of 11 515 back then. So, it did fall actually after that 11 515 somewhere over here it is and after that we did have that A, B and C leg complete already. So the count worked precisely. The discussion was held around here. So here we discussed about the 1813 Yes 18. So here we made a discussion in the market was around 11 515. And the idea was short term bearishness is to remain could turn to long term bearishness but short term is It was a sell, and it did fall. So this one worked out again precisely, just like the s&p one. And let’s check the scenario. Now I believe we have the same count still going on. So yeah, nothing has changed on this one, still a w, x, y and then another x. So in this case, I believe the x looks complete to me over here, and that would mean the last leg up is in play. And even the last leg up as we know in a triple zig-zag the wave Z will have three waves in it like an A, B and C. So, we just have to track the last part and if this count is followed, which looks to be the case, then there should be another leg up, because this looks like an A complete over here. So, let’s have a look at the last part. From here shorter timeframe perspective, we seemingly have a one up two down three up four down. So, classic impulse complete and this will be your A of the Z which should be followed by a B of the Z so, again, the B could be going deeper like a flat or something or it could just have completed already like a possible triangle. One speculate which way it is, but I have a trigger already placed above this swing of 11 977. So, early evaluate the market if it takes out this high. And see if this is if there is any clarification about the position of wave B. In any case, if b is complete here or continuing, if this count is correct, we will wait for another leg up either it will be straight up or down and then up. So that’s for the current view on Nifty either it is a straight up or down and then up for the wave c of Z. And if this count is correct, then Once the Z is complete the major fall should come into play. And as for the targets we already know a projected from the end of B and 61.8 of A and 100% is what we will take. So I guess there isn’t much here to discuss on Nifty either other than the simple fact which I like to point out if the market is like really bearish and it wants to fall straight off then alternate count which we can take is that we can consider this as completion of Z, let me check if we can put w x y x over here and ABC. No, I believe it will at least make a smaller high, I was trying to see if the Z can be marked complete here but the moment is just not sufficient. It hasn’t even breached this. So technically, if the market is really bearish, then it can just breach it by a small margin, complete the Z and then fall. But that will be something to keep in mind when the market does go there. So basically what I’m trying to say is trying to catch the last leg up in case the markets overall direction is downside is not really a great idea. Because it can just turn without actually reaching the proper A equals C or C equals 61.8 of A targets so remain a bit aware that you need to be cautious on the long side a better idea would be just to trade it possibly intraday if you’re going for Long’s or wait from a swing perspective for this Z to complete and then go short. Right? Because that will be a much clearer case in mind. Other than that, I think it’s rather clear chart like there isn’t much I can put in at this point on this one. But in any case, let me know if you guys have any doubts here. Or just type in clear if that’s clear. Okay, guys, let’s have a look at Amazon. I have not really checked it in detail. But let’s just check it right now 345 ABC. So from what I can see over here right now is I this is a corrective leg down, followed by another corrective move up. So three downs and three up. So that means it’s continuing continuing inside corrective formation. And as for the last part, I think we can count it as sort of check, one and two and three, four and five does not look like a proper diagonal, we can count it as simply as an impulse as in one and two and 12345 for 3,up for 4 and then a 5. So as far as Amazon is concerned, I think we were speculating last time that it will follow the direction of S&P. Although I think it did not really followed it that well, let’s just check anyways. September, It did sort of go down. But that’s not the kind of moment you will call as following the count. So it did not really go precisely as we were expecting. And let me see if I had pointed out anything else. Around 3815. Yeah, so we were expecting some sort of down moment in it because a possible impulse may have completed and it looked like an one, two, and wave three down. So if there’s a wave 3 down, then definitely a little bit more downside should have been seen from this level of 2953. Which I don’t think was there, we are pretty much okay with the calling it in conjunction with S&P because in S&P there was this main hypo that it will form a triangle and then last leg up. So that is also applicable here. Because the first leg down is in three, second leg up is in three. So we can very well have this over here. And because Amazon is one of the leading stocks, one of the five stocks, so we do expect it to give the market direction, basically follow some of the pattern or part of the pattern S&Ps following. So I believe we are pretty much okay, going on with the H1 triangle followed by up and the second possibility that we may have completed this as a downline. However, in this particular case, we do not seem to have a leading diagonal over here. In the case of S&P, this wave was a leading diagonal. So that sort of gives sort of more strength to the hypo one. Although it could still fall, considering that the whole pattern itself can be a diagonal in the downward direction. And in a diagonal, if you guys are not familiar, we have 33333 formation. So in that case, this could be your ABC for one ABC for two. And so it can still fall. So both of the scenarios that we discuss on the S&P chart are precisely valid hair for the simpler fact that it sort of itself gives direction to the s&p. And as far as this last price action is concerned, I do believe that this can become more complex, it does look like a part of a bigger correction. So I will remain in favor of the corrective continuation or sideways movement in this market. In this box region, or zone, there’s a view on Amazon same as that on s&p, sideways and possibly bullish is our hypo one. Let’s check the Pharma stock which we have been following for a while. And it is still unclear. So anyways, I’ll still bring it up because we have been following it for a good few number of sessions. Auropharma and let’s first quickly check if there was any specific discussion we made about this stock. In the last webinar What do you want 35 Yes, so, I recall that it had gone down from this last high in three waves and my view was that practically it should fall more, but given the sentiment in the pharma sector, even a shorter pullback could be acceptable or could mark the completion of the moment. So, this was a bit of a wait and watch again. And the main view was that if it falls more than we will be more interested in buying it or if it gives a clear sign on the upside. So, let’s check if there was so, it has still continued falling. So, that means, the correction is still continuing the first three legs which I said were downward this and now we check the dated count which I have let me see. So, I have marked this first three waves down as a w. So, that means this becomes now a complex w x y correction or case of a double zigzag. And that would mean this is your wave x continuing as an AB&C possibly complete over here to be followed by next leg down It could be continuing, but the main point here is that we are expecting downward movement. The last scenario here that suggests your bullishness would be if the Y is already complete, but that does not look extremely likely given the fact that W is consuming this much in terms of price movement and why is only consuming this much though it is practically possible but to counter that view, that is if that is the case, I will only be serious about it once it crosses the high of 852. So once it crosses 852 then I will have to consider the possibility of correction already completed. As long as it does not do that I will go on with the view that it is still having one more downside our down leg remaining. I will wait for it to continue and fall below this level of 738 or 748. And then I’ll be interested in possible longs. So for auropharma our view is wait for long’s but not straight off possible pullback and then long’s because of a wxy continuation possibly continuing. So that’s our main view here. Still no trigger on this one. And last time also it was unclear. So wait and watch. Anyways guys, these are all the scripts that we generally discuss. If there is any doubt here please let me know. Okay, so Rajiv says clear, what about the other people here? Is there any doubt remaining, regarding this or any other scripts that we have discussed? Bank Nifty. Let me see if I have anything posted on it. So I have a rough outlook on bank nifty, but let’s just give it a go. Is that? Yeah Rajiv, that is we already discussed that in the last meeting we did. You were telling me how bank nifty jumps off during the day and then nifty later on follows it is exactly doing that. So actually, this chart is again, as clear as nifty and is sort of sort of more better if you dive into it, the nifty and the count as at the end is exactly the same 12345 impulse complete and then we are expecting correction to be followed by last leg up for Z. And in bank nifty, again, the count is I think this is what I’ve taken as W. This is what I’ve taken as X, Y and X so that is basically in line with our nifty count. And just before you leave, I just like to request that you share the uploaded video later on once I have posted it on YouTube, just share the website link. And secondly, if you or anyone of your friends is interested in learning, point them in the direction of my video course which is right there on my site www.50eyes.com/elliott-wave-course . And if you guys are interested yourselves in joining in for an intense learning session, one to one classes then you can make inquiries one second via the training program LT link under courses, which should bring you to this form and these are intense classes we do one to one discussions for three months. And the classes run quite long can run from two to three hours, and we do detailed discussions of markets and do strategizing and everything. And testimonials, everything already on website, the past people I’ve worked with are doing really well in the markets. And the last thing I have finally asked a few of my students to help in with this forecast accuracy for 2019 and 2020. So I already asked, Nick, and Thomas. And if anyone of you guys have the time, and would be interested in compiling it, then let me know it basically means you will be going through the video and then creating a spreadsheet like this. And then the spreadsheet will be posted here as the forecast accuracy. Basically, I realized that I won’t be having any time for checking this record. So I’m basically asking for help in this regard. So hopefully it will be up in the next two weeks.

Learn Elliott Wave Principles :  Video Course

Details for Training Program LT batch can be requested here : Click Here

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Disclaimer – All content presented here is strictly for educational purpose, do read the complete site disclaimer before taking any action.

The post 21. Applied Elliott Wave Webinar (Crude, Gold, SPX, Nifty 50, Amazon, Aurobindo Pharma, Bank Nifty) Oct. – Nov. 2020 appeared first on 50 Eyes Market Analysis.

Possible trading strategies using Elliott Wave for September and October 2020 have also been discussed wherever applicable.

Timestamps :

• • 00:41 – Regarding Training Program
  • 03:10 – Crude Oil
  • 10:10 – Gold
  • 22:30 – SPX
  • 30:30 – Dow Jones
  • 31:05 – Nifty 50
  • 38:15 – Amazon (NASDAQ Stock)
  • 41:35 – Aurobindo Pharma (NSE Stock)
  • 44:20 – Natural Gas

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The post 20. Applied Elliott Wave Webinar (Crude, Gold, SPX, Dow Jones, Nifty 50, Amazon, Aurobindo Pharma, Natural Gas) September – October 2020 appeared first on 50 Eyes Market Analysis.

Possible trading strategies using Elliott Wave for July and August 2020 have also been discussed wherever applicable.

Crude Oil, Amazon, SPX, Nifty and Aurobindo Pharma analysis done in last webinar played out as expected : 

Crude Oil Analysis (As discussed in last webinar) :

Crude Oil Analysis suggesting upmove for Wave 3 to be followed by corrective leg down for Wave 4 (June 2020)

Outcome of Crude Oil Analysis :

Crude Oil Final Outcome, went up to complete Wave 3 and then fell for Wave 4 which looks to be still continuing as a Flat structure

Amazon Analysis (As discussed in last webinar) :

Amazon Analysis suggesting more upside for Wave 3 (June 2020)

Outcome of Amazon Analysis :

Amazon Final Outcome, went up for Wave 3 as expected (July 2020)

SPX Analysis (As discussed in last webinar) : 

SPX Analysis suggesting upside move (June 2020)

Outcome of SPX Analysis : 

SPX Final Outcome, went up as expected (July 2020)

Nifty Analysis (As discussed in last webinar) :

Nifty Analysis suggesting upmove as a Triple Zig Zag Correction (June 2020)

Outcome of Nifty Analysis :

Nifty Final Outcome, went straight up (July 2020)

Aurobindo Pharma Analysis (As discussed in last webinar) :

Auropharma Analysis suggesting more upside should be seen for Wave 5 (June 2020)

Outcome of Aurobindo Pharma Analysis : 

Aurobindo Pharma Final outcome (July 2020)

Timestamps : 

• Regarding Training Program LT – 00:22
• Crude – 02:22
• Gold – 09:25
• SPX – 20:10
• Nifty 50 – 29:30
• Amazon (NASDAQ Stock) – 41:00
• Aurobindo Pharma (NSE Stock) – 45:10

So guys, this is our 19th meeting in the series of the Applied Elliott Wave webinars that I’ve been doing. My name is Neerav and I’m the owner of www.50eyes.com. I’m a trader as well as I also do teaching, coaching, mentoring, whatever you’d like to say. And you can find more about my work by going to my website. You can go and check my past track record which has been above industry standards or my video course and I also do have personalized classes for which you can make inquiries by going to www.50eyes.com/training-program-lt , which is basically this form you can send inquiries from. That’s about it for my work. And just to mention the current three month classes or the Training Program LT batches running, and it’s only been a few classes so if anyone is interested in joining they can make the inquiries within this month. Otherwise they will have to wait for the next batch whenever it will be. So that’s about it for that. And before moving further, let’s have a quick look at the disclaimer suggesting that all content presented here is for educational purposes, I’m not soliciting any buy or sell if you do go on to use the views presented here, then you yourself will be liable for your profit, loss or loss of profit. Moving on to the charts, the sequence we will proceed with is first of all, we will look at Crude Oil followed by Gold followed by S&P, Nifty and maybe some stocks if we have the time. I will first of all discuss a particular chart and then I will ask you guys if you have any query if you have you can post that in the comment section. If not, then you can just say that it’s clear and we will move ahead with the next chart. And just before we continue, give me a final nod that both the screen and the audio is there. And clear enough so that I can just start the lecture discussion from now. Okay, so Thomas says it is all good. So let’s get started with it. And let’s first of all this chart of Crude Oil. Before we move ahead with this discussion, let me quickly check what we discussed in the last webinars which was conducted I think on 22nd of June 21st of June and posted on 22nd of June on the website. So let’s quickly check the video which was there and Crude Oil discussion was at 2:41. So quickly move there So by the way, if you guys are watching this thing as a recording later on, definitely turn the screen quality to 1080p. Otherwise, the visuals will be quite bad. So going back to the actual discussion we made the analysis was suggesting that we have completed some sort of wave three if I recall correctly, let me check on the chart as well. Yeah, so this is the wave three we’re looking at, and we were planning to sell short for the wave four, which was supposed to follow this wave three. Whenever this wave three was completed, by the way, we did not have the correct endpoint for this Wave three. These were rough targets because we did not have the end for Wave three obviously. So moving ahead with that the analysis basically was wait for the completion of this and possible sell off after that. And let’s check the actual chart now of Crude Oil and we’ll mark that date of 21st something. So 19 June the data must have been when we discussed. So from here on, we were saying that some upside is remaining for wave three, which is actually what happened, market went a little bit higher. And then there was this correction, it did not go to our expected levels of 23.6 and 38.2, by the way, they will have to be redrawn because they were just roughly drawn at that point in time. So, I’ll just take it from there and so, this will be a 23.6 this will be a 38.2 it did not touch any of those so, that means this market either is very very bullish or second thing is that it means that it might be continuing the sideways correction in wave four. So, if you are going to go with the bullish view, then both of these possibilities are likely. So, either you can say that after the circle wave three you have the circled Wave Four complete here and this is a sort of a complex wave five going up or just a wave five going up. I think we have an overlap here. Yea. So, it will be a some sort of not that impulsive but diagonal kind of structure going up. Second outlook would be that, if I just remove everything it will be better I think, second outlook will be that circle four is not complete over here, but it is continuing as some sort of flat structure maybe or some other complex structure. I am of the view that it is most likely that it is continuing something like this. So, basically an Wave A leg down and Wave B leg up and then Wave C leg down as a Wave 4 and it will then be followed by the Fifth leg up. So that’s my view for now on Crude Oil. So, that means that there will be shorting opportunities in this market for this Wave C down however, how much will be the length of this Wave C, that we can only get an quick estimate by measuring this a leg down. So, I think this a leg is only two squares over here or rectangles. So, if I measure from here first is over here second is over here. So, roughly speaking 38 is the rough Outlook or the rough level or the one is to one level for this Wave C down, equality I mean, because generally speaking Elliot wave has this Guideline of Equality which says that not not even a guideline just in general, we look for Wave A and Wave C. Wave A and Wave C in a Flat to be equal. So this is the first leg down, I’ll just measure it and then projected it from this leg. And then we can take the Ones is to One level as over target. So roughly speaking, this looks to be our Target 1 near 38ish levels. And because this market is quite bullish, it has not given a deeper correction, I was hoping that it will fall down from here as a zigzag. But now that it has given some sort of flat or complex kind of correction just means that this leg can either be played on the downside or a better strategy might be to just wait for this market to fall. Right. And once this market has fallen for the Wave C then look for Long’s because of the simple fact that this market is quite bullish. That’s why I’m saying that that possibility holds. I guess that is pretty much it for this one. I believe this is a simple enough analysis here either look for selling the Wave C or wait for Wave C to complete and then go long. Again you can also measure that 23.6 and 38.2 and hoping that it might give a deeper C wave and go to 34. So you can see 38 is your Target 1 and 34 is your Target 2. So those are the two main things here. Other than that, I guess there is not much to discuss here. So let me know guys if you are clear on this chart, or should we clarify, if you have any questions I’m mean, post them and I’ll clarify Nick Thomas Yeah, okay. Okay, I believe everyone is sort of clear on this one, it was not much of a complex chart anyways. So moving ahead with the chart of Gold Before discussing whatever this market is actually doing, which I believe is not really what we were expecting. Let’s have a quick look at what we actually discussed around 9:05 will be somewhere over here. So, yeah, so I was of the view that it will give at least one leg up or B Wave up. And then it should continue down straight down as a Wave C or sideways as a triangle, and then next leg up. So this is leg was, I was quite certain if I recall correctly. Actually, I was paying emphasis that there should be a leg up before the fall. So this part we were sure about, and later on, we were expecting some sort of fall, which was also a high probability scenario. So, that was our main Hypothesis, Hypo 1 upleg and then down leg. By the way down like would be bigger is what we were expecting. And the second scenario or Hypo two was that, not even second scenario, this was I think, low probability count hyper three, which was suggesting that Wave B is not continuing but is already complete over here. Single bracket Wave A and single bracket Wave B. So this was a low probability scenario because generally Wave B is not that steep looking right it takes a little bit more time. So that was the reason it was taken as a low probability scenario or Hypo 3 but seemingly it has done exactly that it has gone down and then gone up straight off like that. So instead of looking at the past count now let’s move on to the actual chart and Gold chart around the 22nd or 19 June something We can place a line over here. So there is the line and we were expecting up leg and then down leg like that, which obviously is not what happened. Extremely low probability scenario Hypo 3 played out, but anyways more importantly, there is some other thing that I want to discuss here. First of all, let me quickly give you a quick outlook on the daily chart. If you want a completely detailed analysis of this leg down, then I think in 2017, I recall I made a very detailed Gold video, I think in February 2017, I think it was 2017, not 2018. So in that video, I discussed the two main counts on this leg down. The first one was that we were assuming that this was an impulse down like a 1-2-3-4-5. This was a diagonal structure over here, this was a triangle structure over here. And it looked like a very picture perfect kind of impulse. Second scenario was that this was not an impulse down but rather W-X-Y. Think the Wave Y was over here and then Wave X and then Wave Z. So anyways, leaving the W’s and X position undiscussed basically, because you can check that in the past analysis, the main point is that this was also counted as a correction, because a triple zigzag is a corrective structure. And that was over a Hyper two if I am right, or whatever Hypo the point was that at that point in time in 2017, both of the counts were suggesting that leg down is complete and correction should be followed. So, the target of 50-61.8 was given. That multi year analysis performed well, but now, at this point in time, we were assuming that the impulse down count was followed, that this was some sort of 1-2-3-4-5 down. So, what has happened at this point in time is that, we will have to go with our W X Y Z or the correction of this move instead of the impulse The reason for that is that this leg has gone way too much up. It is almost gone higher than 90%. And it’s almost near to 99%, if not exactly at 99%. And it’s about to just break the last high seemingly with the good volume, which is evident by the way these bars are closing almost near the very top. So, you can also make the argument that no this can be some sort of one and two and three, because wave two can go to 99%. But I do not think that that is the case here. Maybe but that will be considered as a low property scenario. So the main scenario that we are left with here is that either this big correction ended at this point. Right. Triple Zig Zag ended at this point and this is a new impulse up so it will make new lifetime highs. Or the second scenario is that this correction is continuing as a sideways A, B and C sort of movement. If you just look at the strength of the last part, then we will have to have a little bit of bias towards the correction getting completed here. But that would also mean that this is a fundamental change in things like it may also point that people are moving their money from the stock market to Gold and other commodities. So, that could also suggest that maybe the stock markets are going to see a fall. But then again, correlations don’t always work one is to one, they keep changing, sometimes they are delayed or sometimes they are beforehand or they are playing before right. So, leaving the correlation part aside. At this point, we are going to go with two hypos. Let’s just say that Hypo 1 is suggesting that correction is continuing Wave A, Wave B and Wave C. If that is the case, then we will have to consider this Wave B as some sort of three wave move up. In which case, we already have an account, which is working out, we can say that this is the A wave, this is the B wave over here, or can also be taken as a triangle over here. But let’s just go with a simple account and then we can say that we have a impulse wave continuing up with the seemingly Wave One and Wave Two over here and then 1-2-3-4-5 for Wave 3 over here. Assuming the Wave four might be over here, and this is the fifth wave continuing, so this could be the one of the five, two of the five, Wave three, four and five, something like that we can see right. So this will be our scenario of A-B-C continuation. And second scenario will be that this whole correction was complete here and in that case, we’ll replace the Wave A with the Wave One and Wave B with Wave Two and everything sort of remains the same. So, let’s say circled Wave one and circled Wave two. So, fact of the matter is that I am of the view that this market will give a new high and go higher than this level. So, basically, it will jump up to 2100, 2200 levels is what it looks to be the case right now, if this analysis is correct obviously. And since both the corrective continuation as well as the new impulsive up are suggesting that at least some upside movement is remaining. We do not have any reason to say that it is not. However, the important point is that entering Long’s at this point would not really be a very good risk to reward but those who are having already Long’s in this market, that would be another case. So my view on Gold is that one leg higher should be seen and should be going higher than this to 2000 levels, exact levels, maybe we can check if we measure the ones and twos and project the fib ratios, but I think it will extend and there is not much point because at this point in time, although I am mentioning them as Hypo One and Hypo Two and generally one means the more favorable count and two means the less favorable count, but in this case, both are quite likely. As a matter of fact, the impulse going up is also a very strong count if you ask me. So if it’s actually going up as an impulse then it will just exceed the targets and you know how Wave threes are they just keep jumping up and so, in that case we will see a lot of bars like this closing near the highs and seeing exceptional buying So keep that in mind, I will avoid any shorts at this point in Gold is all I can say strategically, new trades I wouldn’t really say much from a swing perspective but if someone is holding longs then they can keep holding with trailing their stops because after all if it’s a Wave Three then stops should not get hit anyways. So that’s for my look on Gold. Let me know guys if it’s all understood, if not, then you can post your queries in the comment section. Okay, So I guess other guys also have understood whatever we were talking about. Over here. So let’s move on to the discussion of the S&P. And before we move on with the actual chart let’s check what was discussed in the last webinar 15:55. So S&P I was assuming that some sort of complex correction is going on we also talked about a possible impulse. But in both scenarios, my view was that let me check this was if this was desired is complete here then you’re seeing down up down. Other scenario was that Wave Y is over here and after this correction, which should most likely be i think ABC is what I was assuming at that point in time. We will see a Wave Z up. Yeah. So we were assuming just that correction down as a sort of zigzag, most likely. And after that, a new leg up which should take it higher than the 3240 level. I believe I mentioned some levels to the upside as well. Anyways, let’s leave that I’m not able to find that on this chart. So whatever let’s leave it. The view was that from this date of 19, June we were expecting corrective movement and the correction I Believe was this I was assuming this as the Wave A, this as the Wave B and then I was assuming there will be a Wave C. So that was our one of the views. I think this was the main view. And then we were expecting one more leg up. And second view was that less probable view was that I think that this was a correction here. I believe that was one of the views where it will just jump up. Anywhos scenario or the conclusion of both the analysis or whatever analysis was discussed was that we should see a high higher than that level of 3235 something. It has gone higher than that. And I think the target Yeah, the target was a 90% retracement of this leg down. It has also achieved that, this is 90% leg by the way 3275. Yep. So it has gone up and achieved that minimum target and sort of is looking like it’s reversing from that level as well. Because all we have is just this is a four hour chart. If we go to the daily, then I don’t believe we have a close. So yeah, we don’t have a close above the 90% level as well. So it is sort of respected, that means that other participants were also believing that this 90% level is important. And they also had it in their minds or marked on their charts or whatever. So that’s for that analysis. We have sort of achieved that level. Now let’s look at the count at this point in time. If we still go with the whole move up as a correction that is this leg up as a corrective movement, then we will still count this as our W X Y Z or a Triple Zig Zag because that’s the only fitting structure I can find. And there you can have two views you can say that this is the Wave W here Wave X here and Wave Y here. If you are really bearish you can say Wave X is complete here and Wave Z is complete here, which is not really unlikely possibility. The reason is, first of all, NASDAQ looks to be not making new highs along with the S&P, it is seeing more of a pressure which is to be expected because it was faster than S&P when it was going up. Second reason if you are going to go with the correlations you can have a view that we have what you call Gold also, possibly set? By the way is my voice still audible there? Can you give me a quick confirmation On the messages section. Okay, so yeah, continuing on. The second thing that I was pointing out was the Gold thing. But again, correlations don’t really work, one is to one, as I mentioned previously. So we will have to consider both scenarios here. Let’s assume the other scenario, which is suggesting that Wave X might be continuing something like this. Basically, what I’m saying is a flat like an Wave A and a Wave B and Wave C, and then there will be one leg up. So maybe challenging the last time and even exceeding it by a little bit of margin and then the sell off which we were expecting, since quite some time will come into play. That is for the two main hypothesis. Basically, Hypothesis one is I will say that Wave X is still a flat and then there will be a Wave Z up. So basically, Wave Z up is still remaining will be our Hypothesis one and Hypothesis two will be that Wave Z is not remaining, but most likely complete already over here and that we can see a sell off. So those will be your two hypothesis. leaving that aside, if we go on a little bit shorter time frame on this chart, let’s say one hour then we can see that if we go with that flat kind of corrective view, which I just discussed, you can say that, if that’s the count being followed, then we have the Wave A leg over here and this is the Wave B complete over here and then Wave C will come down. Now, the interesting point over here is that if we consider this as a Wave B complete already, but keep in mind this is just a possibility. So I’ll just not say that it is already complete. It is possible that it may just form one more leg up before the fall. But the interesting point is if we assume that Wave B is complete here we have one more evidence or you can say one more point that we can say that this is the Wave A, Wave B and Wave C as in a zigzag, just to give a quick rough outlook, Wave A up Wave B down and Wave C up is what you call a zigzag structure. And if this is the Wave A up and this will be the Wave B down then Wave C up generally will be one is to one of Wave A will be either an impulse or a diagonal, diagonals are also called wedge in price action technologies. So in any case this looks like a wedge pattern or a diagonal. If that is true, then most likely this Wave B is complete here. Right and then it can just fall in next session that is on Monday we should see a selloff, should be a fast selloff, should take it lower than 3160 at least and it should be fast, then the possibility of Wave B complete here will become more likely right. On the other hand, if this analysis is not playing out that is this Wave B is somewhere over here, right, instead of being complete over here, then it can just, you know continue with some other formation that we will look at in the next session. But this wedge is what I thought was sort of a clear formation. So, I thought it I will just pointed out and gives us a basis to analyze or judge this market in the next session. That’s our quick sort of swing view as well as a shorter term intraday kind of view on the S&P chart, but do keep in mind this 90% level was important and is sort of getting respected. But the sell off might start from here because I pointed out in the other typo that Wave Z may have completed here. So keep in mind that Long’s should be taken with a bit of caution do your own analysis short term and stuff. If you’re going for Long’s because if Wave Z is already complete fall or self can be quite quick. Okay, so let’s move on to the chart of Nifty 50. So quickly have a look of what we discussed in the last webinar. So let’s move on and check what I was saying. Yeah, so, one possibility was of Leading Diagonal, which was discussed later on, main possibility was this W-X-Y-X and a-b-c for Wave Z. So, I was basically saying that this high should be taken out of whatever that is. So that high should be taken out and that could be the Wave Z second possibility was that this might be a Leading Diagonal Which was relegated obviously because the market went much higher. Yeah, this was the Leading Diagonal possibility I was discussing. So, that was over another hypothesis or hypothesis two. So, in any case, both were suggesting that one leg up is remaining. So, that was our view. second possibility or sub variation of this hypothesis was that this Wave B might be a little bit sideways and then up. So basically we were waiting for a high higher than the last high of June 8 or something like that. Let’s quickly look at the chart and see what we are doing right now. 19th June. Okay, so here we are and we have exactly done what we were expecting, when higher. This was one of the short term targets, that is basically the gap which has also gotten filled. Also the markets saw some temporary sell off or corrective pullback from there on. So basically it has achieved our short term targets. I haven’t checked if there were any higher targets adjusted, I believe 78.6 has always been a target maybe 61.8 also we should check. Okay, so this is exactly where the market saw some resistance. So yeah, this was definitely our one of the main targets. Obviously, it’s almost near the box, so pointless to mention it again. Next level would have been 78.6, which is very near to where the market is right now. So this market has sort of been moving precisely as we were expecting it direction wise as well as momentum wise. And it’s near 78.6. So I am presuming that it will atleast touch that level of 11363 or 11360 And if it continues in alignment with the S&P and Dow Jones, Dow is not at 90, I believe, S&P, the NASDAQ, then it will at least touch 90 as well. So that will be our, what do you call target one or immediate target and this will be our what you call target two. So that’s for the quick look on the possibilities of price movement. Let’s look at the other thing or the important thing which is possible counts this market might be following. So, count wise I believe that if we say that this is the Wave W is over here and Wave X over here, then Wave Y and Wave X can be taken here or it can be taken here. So both are possible. If we just go with this one then we can say that 1-2-3-4-5 basically impulse maybe complete here so this will be the Wave A of the Wave Z, Wave B of the Z and C of Z. So this one will suggest that good upside should be seen in this counter after a possible correction, Wave B correction basically. So Wave B should take it a bit deeper, or maybe not so deep, because previous collections have not been that deep either. So, basically the point is it should spend some time near this level within this range between 78.6 and 61.8 and then go higher for Wave C. So, that’s our first look. Secondly, we just consider that Wave X is over here, then we can say that this is the Wave A, this is the Wave B and this is the Wave C, that is very sort of bearish outlook because if this is the Wave C, then the impulse in Wave C is sort of almost complete and if it is almost complete, then sell off can begin any moment. So, generally markets all around the globe follow one another basically, I’m suggesting that the major indices follow one another. So in case the S&P see a straight up sell off, that is our hypothesis in S&P, which was the sell off from that 90% line straight down for the Wave C of the bigger structure flat, then I believe this Hypothesis will be followed, otherwise, I am of the view that it will go at least to 78.6 and even further to 90, at least 78.6 I believe it should touch because it’s almost there. 11363 was the level anyways. So it can even test that in the next session itself. That is on Monday or at least within this coming week. Taking the Wave X over here will be our Hypothesis one and then A-B-C. Yeah, this will be our Hypothesis one because we are expecting some more upside. In case we see a very strong sell off, which is unusually strong compared to the previous sell off, then we can go with our second understanding, which we just discussed few moments ago. So that’s for the quick view on Nifty suggesting basically up correction and then up. So that’s our quick view on Nifty and I believe on a shorter time frame. We have some sort of clarity over here. So let me quickly check that as well. Let’s check 15 minutes. So on a shorter time frame, it looks quite like a three legs down right an A-B-C and obviously if it’s three down then we can assume that maybe this is a Wave A and this is A, B and C and D. Either Wave E is here or Wave E is here. So basically what I’m suggesting is up or correction and then up if Wave E is over here, so basically a triangle structure is what I’m suggesting here. And this is sort of quite likely. The reason for that is simple, that this first leg down is very clear correction. And also, this market is almost near the high. So generally, that’s how triangles are going sort of sideways in a very range bound moment. That’s how flats are also. But in any case, my view is that in the next session, I think it will give at least one leg up no matter what our long term count is Hypothesis one or two, or even if none of them is the actual count which is being followed. I believe this counter will at least give one leg up. So that’s for our view on Nifty let me know guys if it’s clear to you or not in the comment section. What about the other guys, can you quickly type it in the comment section so that we are clear on that everyone is clear. Okay, so apparently many people have typed in. Clear. Yeah Nick, nice pointing that out, as Fraz previously was asking about wave five being higher than wave three. Just generally the rule is that wave three should not be the shortest. It’s not like wave five has to be bigger than three. So we just check the wave three in comparison to wave one. And if wave three is shorter than wave one then we go on to check if wave five is shorter or not. So anyways, guys, I think we have discussed all the main charts that we look at what were the stocks we looked at last time, so maybe we can, you know, check a few of them maybe. Amazon is what we looked at and Aurobindo Pharma is what we looked at, at 47:18 and 37:18. Let me check If I have the labelled charts of those stocks and we can follow them in this session as well. Amazon there is no such rule as that Fraz, what you’re typed. Okay, I believe we have some clarity on the chart of Amazon four and fifth is what I’m expecting. So let me just quickly pull it over here and see so lets quickly check also what was discussed on Amazon 37:18 Yeah, so Amazon was actually exceptionally clear setup. And I think I emphasized it quite enough in the last webinar as well, that we had first a break of this very important B-D trend line and then retest. It makes up for an exceptionally good, long setup. So anyways, going back to the actual chart, let’s check Amazon over here. Yep. So there it is. And let me just quickly Mark 19th June as well. So there it is, and view was long. That was the only view on this chart. And that’s exactly what it has done. So an exceptionally good trade, they’re, exceptionally clear trade as well. Not just good. So went up quite a bit, I think 33% or something. And the risk was also like almost this would be our stop loss so the Risk to Reward was, like this was an exceptionally clear setup, even if you would have exited over here somewhere roughly speaking. This was like very good Risk to Reward as well. 4:1 or 5:1 something you would have been able to get out if you had been able to capture the whole moment, which again, is a art or a skill in itselves. Anyways, leaving that analysis apart. Now we have two views coming in. First one is suggesting that this is the three corrective four, up five. And that would mean one more leg up before the fall. Second is that I have some long term count suggesting that this might be some sort of Wave Y. But that’s a low probabilty scenario as that’s an Hypothesis two. So, that means that as long as this wave one high is held, that is as long as 2800 is not breached, this count is valid, this impulse up is still valid. However, given the fact that this has sort of broken below this trendline once this red trendline basically, so we will have to assume that this market might be losing the strength and this might be an indication that it is near the end of its movement which is obviously is what the count is suggesting, three here, four here and five here obviously means that and then Wave five of higher degree. So, yeah keep an eye on Amazon short term wise, you may look for Long’s right, from a Strategic point of view, you may say that if you are bearish on the whole stock market, then you may say that no, I will wait for this leg up to complete and then sell short once the same is complete. But I believe from a shorter term perspective, if you wait and let this price action form some sort of clarity over here, then some Long’s might be visible over here. So that’s for the quick look on Amazon. But the clearest trade, which was over here is already gone. That’s, I think, enough for Amazon. If there is any doubt on this one, you can quickly post in. Otherwise, we’ll just look at the pharma stock we looked at the last time. Let me pull that out as well. Yeah, so I think the stock we discussed last time is not really the clearest setup at this point in time and though we can have a quick look at it anyways. We were discussing Aurobindo pharma in the last meeting, I suppose. And let me quickly have a check on the view discussed on that chart as well. Yeah, so we were expecting one more leg up after this wave four correction is complete, right. That was the basic view we had. Actually I have not really pinpointed the wave three end but the main view was that wave three is about complete. Yeah, so we were assuming a Wave three is most likely complete over here and then correction for wave four and then up leg, so outcome or the conclusion is upleg from the level of *787 (Corrected value) something By the way, there was a problem with the recording of the last webinars so that’s why this print is so unclear. This one I believe will come out okay as I’ve set up everything properly. So let’s quickly have a look at what happened after 19th of June. That’s our 19th of June. So basically, I have repositioned the wave three but Fact of the matter is actually, it did give a correction, we can just say that three was over here as well and count this whole thing as a corrective wave four and this is the wave five up. At this point, I’m assuming two things, I’ll just point them out quickly. Firstly, I’m assuming that wave four is here and then that would mean that wave five is either complete over here or still continuing Secondly, you can just play around with the positions of threes and fours. But the point I was saying that this chart is unclear is because we don’t really know if the way five is complete here or it has more upside remaining. So, if it goes higher, then I have a trigger place already around it 840 as you can see over here with this orange line, if it goes higher than this level, then I will look to count a proper impulse up and look to sell this market. However, if it goes lower than this second 780 alert which I have, then that could mean multiple things maybe Wave four is still continuing or whatever. So, only if it goes higher then we can have a proper setup. So it is both ways. It’s a analysis which will become clear in time and only if it goes higher, something like that and then we have a proper impulse then we can do some analysis for selling this. If it just goes down then it is unclear if I was here it’s a sell off or if it’s just continuing corrective movement and then there will be leg up. So that’s why I will say that it’s a wait and watch market for now. And that was all I had to discuss. I believe we have discussed all the main charts and two stocks, one from NSE and one from NASDAQ. So that’s about it from my end, let me know if you guys have any query in on this chart or or any other charts which we have discussed during this meeting by typing in the comment section. One more thing, guys, I would just like to point out that it takes a lot of time to conduct these webinars and prepare because obviously I’m discussing the charts in front of you so it looks like it’s only one hour, but it takes a lot of effort to come up with this analysis, many hours have gone into it. And then again, posting all of this on the website and I’ve just tried my hand at transcribing software’s. So there is a transcribe, I don’t know if it will be of any use to anyone but my point was that it takes a hell a lot of effort for me to put these up. So I will highly appreciate if you guys share this content as much as possible. And lately I’ve seen the participation also is not really there. That much as I would expect to be. Okay Fraz is asking about the impulsive view. Let me check that that’s a good point. As if we are in an impulse wave up. So in that case, did I not discuss it? That was the second hypo. Maybe I just missed out. In that case I believe we will be taking this as our 12 12345 for 3 45 for 3 and then correction and then up, yeah so in that scenario, I believe I’m taking the three here, five here and then a correction and then new hire that is basically one and two if you were to be really clever with your analysis and I know it looks a bit overextended, but you can also count the three ending over here and four over here. Because generally fours are flat. So if it looks like a flat kind of structure, which is this one, then you will try to put the threes over here. So anyways, the count is, as I said, that will be something like this, would be our main count if you are going for new lifetime highs on the S&P, which I don’t think should be happening because this leg down was exceptionally fast. So we definitely want to see a continuation of this correction. But also looking at the past falls on this Dow Jones chart historically, I’ve seen that most of them don’t just form a V shape. So I don’t believe that we will be going with that impulsive analysis. So that’s our low probability scenario. So I guess guys, that’s all for this discussion. I will later on but this uploading on YouTube and website. I will appreciate if you guys share the links of my website. The last uploads are always posted in the market analysis section. If you click on it, then it will be visible. Also, you can just check the recent post, the last post will be available at this point or this location. Alternatively, you can just go on the market analysis page and the last one will be the top one. So you can also check other analysis of other charts if you want, then there is a segregation what you call contract wise, not contract wise script wise, you can check some of the other analysis, some things I’m not really following with much detail in every webinar because of the lack of interest like Natural Gas is not followed regularly. But if you want to check the past analysis, Natural Gas, Bitcoin and DAX are also there. You can check all of that. And would highly appreciate you guys sharing it, that’s what keeps these things going. And last thing again, if you guys are interested in the video course, then check out the page of the video course which is this Elliott Wave course page on the courses section. If you are interested in the three month program as I mentioned, if you are interested in joining the current batch you will have to make the equeries before July. And you can go to https://50eyes.com/training-program-lt/ and make your inquiries from this form. You can also check my records over here just to check back the person you would be associating with. And I will highly advise if you check the actual links. And this is just three year record. And you can see the accuracy has been higher than 80% all along. So that just goes on to show the exceptional skill level. I believe three years is not a coincidence. So I have not taken the time to check the 2019 Records. It takes like one, two, three whole days not even one to properly do this. So anyways, that’s about it. And thank you guys for joining in and see you guys later on in the next webinar, Bye and take care.

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The post 19. Applied Elliott Wave Webinar (Crude, Gold, SPX, Nifty 50, Amazon, Aurobindo Pharma) July – August 2020 appeared first on 50 Eyes Market Analysis.

Possible trading strategies using Elliott Wave for June and July 2020 have also been discussed wherever applicable.

SPX, Nifty and Aurobindo Pharma analysis done in last webinar played out as expected : 

SPX Analysis (As discussed in last webinar) : 

SPX Analysis suggesting upside move

Outcome of SPX Analysis : 

SPX Final Outcome (Suggested level of 3130 achieved and exceeded)

Nifty Analysis (As discussed in last webinar) :

Nifty Analysis suggesting down then up or straight up movement

Outcome of Nifty Analysis :

Nifty Final Outcome (Went straight up following Red Hypothesis)

Aurobindo Pharma Analysis (As discussed in last webinar) :

Auropharma Analysis suggesting more upside should be seen for Wave 5

Outcome of Aurobindo Pharma Analysis : 

Aurobindo Pharma final outcome

Timestamps : 

• Regarding Training Program LT – 1:00
• Crude – 2:41
• Gold – 9:05
• SPX – 15:55
• Nifty 50 – 27:15
• Amazon (NASDAQ Stock) – 37:18
• Aurobindo Pharma (NSE Stock) – 43:18

This is the 18th in the series of monthly applied Elliott Wave webinars that I have been doing. My name is Neerav. And before giving my introduction and continuing on with the webinar, let’s quickly have a look at the legal disclaimer suggesting that all content presented here will be purely for educational purposes. I’m not soliciting any buy or sell. If you do go on to use the views presented here for your trading or investing then you yourself will be liable for profit loss or loss of profit. Now moving on to quick introduction, I am the owner of this website called www.50eyes.com where I also publish my views in the blog section. If you go on to the homepage of http://50eyes.com.com. You can find the market analysis part the video course and inquiry form for the training program. You can check out my articles either by visiting the market analysis or the last recent articles can be checked out here. And a little bit more about my work I have compiled a list of my track record for 2016,2017 and 2018, which you can check in case you are wondering about the credibility and check the track record which is above industry standards, with the links and everything and it is public. By the way, all these forecasts or analysis were done and posted on YouTube so there is no chance for anything incorrect in it. This is all for the quick introduction. And if you are interested or would like to learn more than you can head on to the video course which is this Elliott Wave video course. Or if you are interested in personal training, then you can head on to this third link on this page, which is called Training Program LT and you can make an inquiry from this form which is present right here for the upcoming batches. The training is done in small groups of three to five and is highly personalized if you are interested. And you can check also the testimonials of our students by going to the testimonials page. Anyways, let’s head on to the actual webinar that we will proceed is that first of all, I will discuss the chart. And after that I’ll just ask you guys if you have any problem or query, the queries must be in regard to the analysis discussed on the chart should not be any fundamental question or out of the context of the discussion done. You can post the queries and I’ll make sure to answer that. The way we will proceed is Crude Oil, Gold, S&P and Nifty and possibly some stock if we have time at the end of the webinar. And let’s start off with Crude Oil, before having a look at the current chart let me just quickly check what I have posted in the last webinars or what we have discussed in the last webinar posted on 24th of May 2020. So that’s a Sunday so 22nd of May 2020 so let’s quickly put a line on 22nd of May over here, so that we know the discussion is done correctly. So this is the 22nd of May 2020. And let’s check the view that I had on Crude Oil. By the way, those of you who are viewing this later as a recording, make sure to turn the video quality to 1080p because the background is black. So videos do not really look good on lesser quality. So crude oil, I guess around four or five something we are discussing it. Yeah, so Crude Oil, the discussion was that we are in a Wave 4 one sec. So we were in a Wave 4 in Crude Oil and I was expecting wave four is either continuing as an Wave A down, Wave B up and Wave C down as a zigzag basically, or it was complete over here. Both possibilities were there. As I recall, my view was a little bit biased towards Wave A down, Wave B up and Wave C down that is I was expecting a little bit more downside. The reason for that was that it had not even touched completely the 23.6 retracement. But the view was that this was a sort of a Wave 4. Let me check if we have some other point made over here. No that was the only point made on the chart of Crude Oil or the main point let’s head on and check the charts. So, market was somewhere over here I was expecting this to be a Wave 4 complete over here or continuing as an ABC. So over here and as we can see the view which was zigzag is not played out. However, theoretically and practically this was an actual Wave 4 because it has played itself out as an ABCDE triangle. So, long story short, the count has followed but if a trade had been conducted; by the way I was not trading this market at that time. If a trade had been conducted, it would had to be active at breakeven or in small loss because there was no bearish moment and after this market went on to take out this high, it was evident that it was either going to be a flat or triangle and in that case, we would have to exit on the next leg down. So let’s look at the count at this current point in time. By the way, just one more thing to point out here the difference between trading and analysis is just clear here, as from an analytical point of view our count did play out properly but from a trading perspective, this trade was a no go. So just a quick difference to show that those two things are quite different or can be quite different at times. Anyways let’s look at the price action at this point in time where I have labeled this as a. Let’s check the green count first Hypothesis 2, which is one over here two circle over here. And three circle is continuing so, by the way, keep in mind that this Wave Three circled could have completed over here, because at the end of the day this can be counted as a Wave One up, two down, three up, four down and five up. So, or it can have one leg up remaining before it falls down for the circled Wave four correction. So, whatever the case is either this Wave three circled is complete over here or it has one leg up remaining, both cases we are waiting for a corrective leg down right. And in that corrective leg down we will expect the market to go at least near that 23.6 Retracement level which I have already measured and marked over here but keep in mind I have marked it considering the starting point of Wave two over here and the ending point of Wave three circled over here. So basically I have made a retracement from the starting point of Wave two to the ending point of Wave three. Assuming that three is already complete, however, as I just mentioned since it is unclear if Wave Three is complete or has one leg upside remaining, we should not consider these levels as of now. So what I’ll do is I’ll just put them on top of one another so that I don’t get confused in actual trading session. So yeah, that’s the analysis a better confirmation will be a break of this Wave two to Wave four trendline, do keep in mind trend line breaks can be false. That is it can give a spike or one like down below the trend line and then go up. So wait for a proper candle closing below the trend line significantly. That is it should be a visible break. It should not be like just that you put an alert on this thing. By the way, you can put alert on trend lines on trading view if you didn’t already know. Go to exiting channel and put an alert on it. But once the alert is triggered, keep in mind you have to wait for a clear candle to close below it for any possibility of a proper trade setup. Otherwise it can just be a false break. So basically, that’s all for the simplistic analysis on Crude Oil. It is following the counts as we had discussed previously, so nothing new here. Let me know if there is any query on it. I don’t think there might be because it was quite clear, but do type clear in the comment section or a query if you have any other participants as well if you guys aren’t clear on this discussion, or if you have any doubt, let me know in the comments. If you are clear, just type in clear. Okay, I’ll just move on. To the next chart in that case, Gold (XAU/USD) and let’s quickly check what the view was on Gold in the last discussion and Gold is around 1320, 1314 something here. I guess this is the, Yeah, this is the analysis on gold The view was that either this Wave Y is complete over here and should be followed by a down leg or it may have one leg up remaining and then it will form a reversal in the downward direction. In either case, we were waiting for a proper selling opportunity, unclear if the reversal will start from right here or after one leg up. So, from this analysis and the current market price action. The analysis has been followed quite well. It has gone up So it is basically suggesting that either this Wave Y is continuing, that would mean that we have to relegate this and take the Wave B over here, move the Wave C over there and there will be a leg higher than the last high which is about 1764. Once 1764 is taken to the upside, then we will try to figure out some selling opportunities on this counter. I’ll just try to explain it a little bit in more detail as well from this point of reference, which is the low of about 1448 coun is taken as a W-X-Y complex correction. By the way, from second look, I think this is better taken as a triple zigzag instead of Wave Y continuing. So, I’ll just use the triple zigzag labeling over here. So first leg up, second leg down. And this is what you call Wave Y up and Wave X down either complete here or will be continuing sideways and Z’s degree is orange and one degree higher. So, those of you who are not very familiar with Elliot wave corrections, triple Zig Zag correction is basically three waves up followed by three waves down, first wave up is called Wave W. Correction down is called Wave X. Next leg up as three called a Wave Y next leg down is three called Wave X again and next leg up is called a Wave Z. So if we compare this right hand side figure with the actual price action, Wave W is complete over here, will be visible to you more clearly on the lower timeframe we are on the daily chart by the way, Wave W is complete over here Wave X is taken to be complete over here, and Wave Y I am assuming complete over here. Keep that in mind that this Wave Y is a bit controversial, you can say that it is probably still continuing as well, or you can just relegate the triple zigzag and just say that this is a more complex Wave B over here and this is the Wave Y, but at the end of the day, it doesn’t really matter because even the triple zigzag correction is suggesting that we will have one leg up before the correction starts. And even if you move the Wave B over here, and the Wave Y over here, it remains the same. So, it was just a bit convenient for me to type it in as W-X- Y-X-Z so I did it like that. So, fact of the matter is it is following over rough figure; quite well. We have the W’s and x and y and x again and Z will be the last leg which should take out the high of 1765.30 something. So, once this is taken out, then I will try to figure out if there is a clear impulse up. And from there on, try to do some short term analysis for instance, waiting for the break of the Wave four have that clear impulse up or some other pattern or structure which might make the trade happen at that point in time. But for now, I can only comment on this much. Or I can only comment this much on this chart. Second outlook for this or second count for this chart, which is quite low probabilities, is you can say Wave B is complete already here and this is an impulse in the upward direction I’m not really in agreement with this count because this B is rather very small in time and generally Wave B being a corrective wave should correct itself in time as well alongside price, so I’m not in alignment with count but if this is the count being followed that Wave B is complete here then this will be the Wave C up and then in that case it can go a little bit more higher than just a small leg up. That’s for our quick look on Gold. So, yeah, my main view is that it should give a bit more correction in time also, possibly this whole structure might prove itself to be a triangle. That is from this point onwards it might as well be a structure like this. So that just gives more confidence that sideways to bearish movement short term can be expected. So that is all for our quick look on Gold, I won’t be putting out any targets on this just yet 1800 is a good resistance over here, maybe we can see the reversal or the up leg till that level and then the reversal from there on. But for now there won’t be much in terms of target for this market. So quickly let me know if there is any doubt on the chart of Gold (XAU/USD) or we can move to the next discussion which will be S&P 500 . Other participants please also type in quickly so that we know that everyones clear. Okay, so I got some confirmations. I’m assuming others are also clear here. Let’s head on to S&P 500 and see what this market is on about, before let’s check the analysis posted last time on this chart. So which is around what 20, 23 something minute. Here, this is some short term trade I’m talking about. Okay, so this is the count of S&P in the last discussion, we were assuming that this is going for a triple exact correction, as I just discussed on the chart of Gold, Wave W up, Wave X down, Wave Y up, Wave X down and Wave Z up is remaining. And our view was that either it will go straight up from here or the major view was that it will give a small correction and then go up basically and the target levels we were expecting were this last high over here, the resistance zone and specifically the level of 3130. I recall I was mentioning and it was also discussed in the last webinar, the level of 3130 can act as a resistance or should be taken as a possible target to the upside for this market. But that was our main view expecting W-X-Y-X and Wave Z up minimum target expectation was 3130. Let’s have a look at the market at this point in time. First, let me mark the date of 22nd May Somewhere over here the market was when we did the last discussion. And from there on, let’s check the last high made by this market is 3233 and 3130 is over here. So basically this target has been achieved. So the minimum upside Target has been achieved and then exceeded. So, the counter played out as expected. But I have updated a few things over here. First of all in the last analysis, I was assuming Wave W here, Wave X here and Wave Y here and Wave X here. And as per that count, this will be the Wave Z complete. This is again still a valid count, but I have considered a few more possibilities as well. If this is the valid count, let’s consider this as over Hypo 1 or first Hypothesis, if this is a valid count, then that would mean That the whole leg is complete or the whole movement to the upside is complete. And this market is now going to move in a downward direction and it should do so at least in three waves and this could be the first wave from it, this can actually be taken as a 12345. So, there is no denying that this can be considered as an impulse. Right. And if this is an impulse, then again a correction here and then next leg down as another impulse, basically a ABC minimum is what we will look for if that is what this market is doing. So, that’s one way of looking at it. So Hypothesis 1 is basically, downward movement. Second view, which is the updated view is assuming that Wave Y is over here, Wavw X is either complete here or might be continuing sideways and one last leg up is still remaining. So now this view comes into play because if we look at NASDAQ, the NASDAQ has already made new lifetime highs, right. So it is quite possible that S&P will also give at least challenge to the last high or atleast try to go near it. It basically hasn’t even touched the 90% of this movement down. So at least I’m expecting it to touch that, it has gone near it. If we just check the labelings. So you can see it’s quite near to 90%. But from a practical standpoint, I think it can touch it. So that’s why I am a little bit biased and thinking that one leg up might be remaining on this counter. However, I will say that I’m not clear of which count it is following. Both counts are quite probable at this point. This W X Y Z looks quite pleasing and looks quite symmetrical to be precise. And if I just modified the Wave Y over here Wave X over here, then this does not look very symmetrical, but as I just mentioned, I’m looking for the 90% leve. It is also possible that Wave X is continuing as a zigzag after all this is a very impulsive looking leg down. So, Wave X is unclear and it is also unclear that if Wave Z is complete over here and this is a straight down leg or if Wave Z is not complete over here and this will give a small correction down and then leg up right. So I will say unclear on S&P 500. Right. From a short term basis. We can figure out some trades on this one but from a swing perspective, it’s a wait and watch kind of market. And just to give a rough outlook from this point of reference, if we consider this as a 12345 as an impulse down, then we can take this as an Wave A up ,Wave B down and Wave C up. So we can say this is an A, and this will be a B, and then there will be a C that we can then label as an X. And then there will be the Z leg up, which I’ve been talking about. As per one of the hypothesis. Another possibility could be that Wave Z was complete over here. In that case, this could be even wave one, and not A wave two, and not B, and three, and not X, and in that case, this will be a lot faster. Because Wave three is obviously faster than Wave C of a Zig Zag. So from a short term perspective, we can say that this count can be followed. This count is very likely count from a shorter term perspective and keep that in mind. It might be followed in the live market and at least short term trades we can do, swings will become clear with more price action printed on the chart. And if discount is followed, then we can do a little bit more short term analysis. Let’s check this retracement for this leg down and then I’ll just put in the 50-60 retracement which I think has already been touched, right. So that means this market, if it has one leg up remaining for the expected Wave B, then we will just mark that Wave B and from there on we will measure the length of this A leg down and project the C leg down basically in a zigzag Wave A and C are quite commonly equal. So, the C leg will be equal in price movement to the A leg, generally speaking; not always. So that is exactly what I’m suggesting, in case this count is followed and you see that there is an ABC very clear. And if there is a very clear sell opportunity here, then to figure out the targets and your risk rewards, because the risk in this case will be the swing highe as stop loss and the reward will be lower than this level, I mean the target minimum will be lower than the last low of 2945. So, in that case, you can just measure this leg down projected from here. So, measure this leg down, project it from wherever this reversal starts and that will be your 1:1 and that will be also considered as your possible target to the downside. So, minimum target if this count is followed as I just mentioned will be the level of 2937 from this chart. So that’s all for our short term analysis as I mentioned swing is a bit unclear. So, short term we can think of this kind of play in this market. Let me know if you guys have any query on this counter or we can just move on to the chart of Nifty. Okay, I see a bit of confirmations here. Question : There is a gap that was formed what is the probabilty that it could get filled.Where is the gap. Actually this is a continuous charge, CFD basically. So maybe you are talking about the gap on the actual sport chart. Yeah, so you’re talking about the spot charts, so I can’t really be comparing it with that because this is a continuous chart we are following so no gaps like that here. But this chart, even if you just consider it in the light of the gap is already considering the big fall there as a candle. So this candle ahould just hold fine. It shouldn’t really matter. Okay, I think everyone is clear on this chart so we can then just move on to the chart of Nifty here then. So Nifty. Let’s check quickly over the last analysis was on Nifty around 32. Okay, so this is the analysis done last time. I was expecting one leg down before the next leg up, the targets were this high. I’m not sure what the exact targets were but obviously, we were expecting a movement little bit higher than the last swing high, possibly going on till this level of around 10,00. So basically in the last count, we were expecting one leg down and then a leg up. And the reasoning was that this 50-60 level or not even 50-60 level, just the 50% was not touched either, the market was above the 50% retracement. So I was expecting at least it to touch that level and then go up rather than just straight out go up. That was our Hypothesis 1, a little bit downward movement to be followed by upward movement. And Hypothesis 2 or the second main hypothesis was that straight up movement can be seen as represented by this red arrow. So what really happened is it just went straight up from that level. Let’s have a look at the chart. 22nd May, Alt + V (for Vertical Line) Here I was expecting down and then up or straight up secondary view, it went straight up, so basically since the direction was on the upward side, theoretically you can say that it was followed but not really the exact or the proper way that I was expecting. I think I was able to catch a few long’s on the upward movement over here in stocks, not in the actual index. But as such the count sort of did follow. But anyways, let’s have a look at the exact picture right now. There are multiple views on this chart. First one, which is a bit different than what I have on charts is the possibility of this as a leading diagonal right.If that’s a possible case here then it should later on give a correction and then another leg up. At this point, it does look like very likely case. And it will also consume a lot of time that’s also there. By the way, it should go a little bit more higher, or it can go a little bit further than this level as well, before giving this correction and then leg up. that’s one scenario that I have in mind leading diagonal followed by down leg and it’s rather clear on this chart and looking at the complex counts. I think I’ve already labeled the complex ones. So the complex counts I’m assuming that this is the W followed by the X, Y and X. And this is the A, B and C for the Z, just again to clarify to the new participants here in the W-X-Y-X-Z correction, the Waves Z will have three waves in it, right. So, basically if this is the W-X-Y-X-Z then this Wave Z if you magnify it will look something like this Wave A up B down and C up as a zigzag. So, if that is the case then this Wave Z is moving to the upper side, then I can say that we have the Wave A over here, Wavw B down and Wave C up should follow. It might be the case that B is still continuing. I don’t really have evidence that the B is complete here or is it still continuing but that doesn’t really matter. The fact remains that it will give a leg higher than the last high. Again the standard ratios of Zig Zag correction should hold, that is if this is the B then you can measure this leg up project the 61.8 of this leg up and one is to one, that is 100% of this leg up from this end of Wave B, right. So, roughly speaking if this is A and this is B actually complete which we do not have evidence for, roughly speaking it can go till 111 85 something level. If this is the Wave B complete and if it follows the one to one count precisely, it can also just stop near 61.8. So, in that case, maybe it will complete this gap, which is roughly coming around the level of 11 463. So I don’t really know but the clear part which which I was able to see in live market was this move, which I was able to capitalize on as well. Of course, it can just jump higher in the next session if this is really a Wave C continuing. But the clear moment is already gone on this counter. One is to one targets as I just mentioned, were 11,850 something levels and the target lower than that was this 11,400 something level. So that will be our upside view if this count is being followed. And in case the market decides to not follow this count properly. That is to say that not to achieve these targets, then keep in mind that minimum requirement for a Wave Z is just to take out the last high. If it does something like that, I would say very low probability. But theoretically and practically I’ve seen that happen. So it can take place and it can just not follow any of the counts. So, yeah, accordingly you can do your own analysis and check this market, but I think there will be trades forming on this. For instance, if we see a proper flat type of move over here, again, to those of you guys who do not know what a flat correction is, I will give a rough outlook flat is three down, three up and then five down correction. So three down is called Wave A, three up will be called a Wave B. Five down is called a Wave C, that is what’s being followed over here. Then you can say dot A is complete, dot B is there, and dot C will fall down. And if it forms and if it’s very, very clear, then we can plan to take trades near the end of this leg which should at least go higher than the last high. So, there will be some good risk reward trades forming. If it follows that obviously, I will have to check the charts on lower timeframe at that point in time. But just to point out that this is a trade idea which can happen over the session or coming session. I guess that’s all for our discussion on Nifty 50. Gold is following over last posted count Crude Oil has followed S&P has followed Nifty sort of has followed not precisely, so a good last month The trades were quite clear I was able to take a good number of trades myself on stocks as well. Let me know if you have any queries in the comment section. Question : Can it be ABCD from March low ? There is no ABCDE ABCD is four triangles and please use your full name while registering for the webinars. If you are mentioning that it’s a 12345 then I’ve already considered the count of leading diagonal. What about the other guys so you guys clear Okay, so we can have a look at one or two stocks. We have a bit of time on our hands. I think Last time we were discussing Amazon let’s check Amazon. So there is the chart for Amazon and let’s quickly have a look at what was discussed in the last one. Amazon is at 46:37 min. okay so Amazon there were two views first view was a possibility that Wave four is either already complete and this is the Wave five up, which may have completed or may have one leg up remaining second count was that this is not the case and Wave four is still continuing followed by one leg up. So the counts were a bit unclear but I did mention that this counter will give a clear trade sooner than later. Those were; I think the precise words and I think it did. Let’s have a look at the current price action on the Amazon chart let’s mark the date of 22nd of May. So, as we can see the Wave 4 was actually continuing It was not already complete and Wave five had not already formed. Not only is Wave four continuing it is a very clear triangle count A-B-C-D-E and this is by the way a very clear chart. And this is what you can call a high <span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span>probabili<span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_end”></span>ty kind of scenario here and the reason for that is first of all this count is very clear not over here, but from the point of reference, which is somewhere around 1625 from roughly speaking around 16th or 13 March 2020. Secondly, a high probability scenario because the upper trendline or the triangle or the B-D trend line, which is this line is not only breached but retested and then the market after the retest has broken above the high. This is by the way considered a good opportunity not only from an Elliott Wave trading point of view, but even standard Price Action traders will consider this a good opportunity because they do keep drawing multiple trend lines and even in price action terminology this is a triangle. Generally speaking in price action many things they can consider a triangle, Elliot wave has separate rules for it. So can’t really compare them, but in this case to be more clear, if there is an Elliott Wave triangle, then price action traders will generally consider that as a triangle but a triangle from a price action trading perspective may or may not be Elliott Wave triangle. So, basically vice versa is not true. Anyways leaving the theory aside, this looks like a proper setup here. And reward I can have some targets on the upside but the risk is is clear here. If it goes below the Wave two low then obviously this count is incorrect. And it is doing something else. And if this count is correct, then possibly Monday it might as well open gap up, right. and head on for the Wave three. Generally speaking, wave three can be 161.8 of Wave one projected from two so I will use the Fibonacci trend based extension tool, I will measure the Wave one up and project it from the end of Wave two. And 161.8 is roughly coming around the level of 2869 so that can be taken as one target a conservative target if you were trading intraday would have been one to one. But that is of no consequence now because it is right above the current price action level. So, I think this market is very clear so keep that in mind and maybe some trades you can form on it on Monday. If it does not open gap up over here. I mean, in that case, the minimum targets will already be hit. So that’s our quick look on Amazon here. By the way, you guys clear on this chart or not do type it in In the comments section before we proceed with anything else. Last chart I think we were looking at Aurobindo pharma, I wouldn’t consider that as a very clear count or anything because it’s not really doing much of anything worthy of our attention, but just because we were tracking it. So let’s have a quick look at that as well. Auro Pharma. And before that, let’s have a look at what we discussed in the last webinar on that chart. Time = 43:50 right. So this is before Amazon. Yeah, so here the view was this Wave four is continuing, one up, two, down, three up four continuing and then there should be a leg up and the view was that once that leg up is complete, then some short term selling opportunities or swing selling opportunities might become evident on this counter. So that was our view; back in time. Now, let’s have a look at the chart. At the current point in time. And in the current scenario I haven’t really updated it precisely. but let’s have a look any who’s 22nd of May. So somewhere over here, we were saying that some sort of Wave 4 is continuing. And then it will go up for Wave five. Now, although practically, it has gone up, and even though you were trading it, it would have been in plus. But the problem is that it does not look like a Wave five up. It looks like it is some sort of I mean, it is wave five of a lower degree of that is the Wave five of this Wave three. That’s what I’m trying to say. So basically, a change in count has been made over here is the whole point over here. I’ll just remove the past counts, not really of any consequence now. If this is the new count, then somewhere over here either this is a three or maybe that is a three, it is still unclear to me. Only thing is that we can wait for this correction to complete and once the same is complete, then we can draw these trend lines 2-4 and project the targets for Wave five. So roughly speaking, this market has either started the Wave four correction or if the Wave three is still continuing, then Wave four will take some more time and then there will be a Wave five. So, basically it’s a wait and watch kind of market it’s not something we will be trading at this point in time. Neither will I waste my time labelling it, but it was just a follow up because it was discussed in our last session. So I guess I’ve discussed all the charts that there were to discuss and we are almost near our time limit as well. Do let me know if there is any query on this last chart. If you guys are clear then do type that in as well, that you are clear. Also, to those of you who are remaining till the end, how about you just give me a feedback on the clarity of this mic? Is the audio sounding clearer than my previous live webinars or is it just the same or worse? clearer, okay. I mean, comparatively to the last one, not just in reference to the current scenario. Okay guys, I think we have no issues on the charts discuss. So I’ll just stop the recording.

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The post 18. Applied Elliott Wave Webinar (Crude, Gold, SPX, Nifty 50, Amazon, Aurobindo Pharma) June – July 2020 appeared first on 50 Eyes Market Analysis.

Possible trading strategies using Elliott Wave for May and June 2020 have also been discussed wherever applicable.

SPX, Nifty and Reliance analysis done in last webinar played out as expected : 

SPX Analysis (As discussed in last webinar) : 

SPX Analysis suggesting upside move

Outcome of SPX Analysis : 

SPX – Final Outcome

Nifty Analysis (As discussed in last webinar) :

Nifty Analysis suggesting upside move

Outcome of Nifty Analysis :

Nifty Final Outcome

Reliance Analysis (As discussed in last webinar) :

Reliance Analysis suggesting upside move

Outcome of Reliance Analysis : 

Reliance – Final Outcome

Timestamps :

• Crude – 3:20
• Gold – 13:20
• SPX – 20:30
• Nifty 50 – 32:30
• Aurobindo Pharma(NSE Stock) – 43:50
• Amazon (NASDAQ Stock) – 46:27
• Regarding Training Program (June Batch) – 50:37

Transcript : Guys this is our 17th webinar. And before moving forward, let me put up with the legal disclaimers listing all content presented, discussed here will be purely for educational purposes I’m not soliciting any buy or sell, if you do go on to use any of the views presented here in your trading or investing directly indirectly then you will yourself and yourself only will be liable for any profit or loss or loss of profit. And we do not hold any liability for the same not that we have discussed the legal disclaimer. Let me give you a quick introduction. My name is Neerav and I’ve been conducting these monthly applied Elliott Wave webinars since last year, so this is done monthly, so this is fifth month of 2020. So basically our 17th webinar at this point. If you want to join in these webinars at a later point then let me quickly point to your Go to the website where you can find the emails section or email subscription part. So basically this is the website over here you can find that on this email subscription option you can go and subscribe. That way I can send you an email whenever I’m conducting the next webinar. And other things regarding my work is that you can find my video course on Elliott Wave by going to my website again 50eyes.com/elliott-wave-course right? If you are interested, you can check the video course here and all the details etc, etc. is presented track record and everything is also there you can check it is about industry standards, with proof and everything. And last thing is that I do offer personalized training or coaching, which is a three month program which is more thorough and more specific to the individual requirements in very small batches of three to five people. So if you are interested you can make the formal inquiries here which is the link will again be in the description as well as on the top of the screen. And just in case you want to note it it is 50eyes.com/training-program-lt. So for now, that is all for my stuff that I offer and the things that I am doing. And the way we will proceed in this webinar is that we will be discussing the charts of WTI is Crude Oil followed by Gold,S&P, Nifty and if we get time then maybe we’ll look at some other chart but these are the four main things we will check right. And the way we’ll proceed is after I’ve discussed the chart, I will ask you guys if you have any query. At that point, you can go in the comment section and type in the query. But the questions should be very specific. In regards to the discussion we have made, they should not be out of the discussion we are doing and should be with regards to Elliot wave and what do you say the counts that we have discussed right. So, let’s get on with our discussion. And currently on screen I have the chart of WTI crude oil. Before moving on and seeing what this chart is doing or what not it is doing. Let’s have a quick discussion. A quick look at the discussion we did in the last webinar. And the last webinar was conducted on this is posted in on 26th April 2020. So must have been conducted on 25th April 2020, and let’s quickly have a look at the chart of Crude Oil around 1:51 or after 1:51. So let’s check 1:54 something just In case you are viewing this later on as a recording, keep in mind to turn the quality to 1080p otherwise the things will look quite bad here right, because the background is black. So, from what is visible on this chart? Let me see if there is any specific point that I have pointed out the whole scenario. So, yeah, the conclusion from this analysis was that we were looking for downleg after 26th. Right. And we were looking for a downline because our view was, at that point in time, our view was that this is still one leg remaining in the downward direction based on this Elliott Wave count, which is definitely not what happened. Actually I’ll discuss more on the actual chart. Two, three. Yeah, this is where we have updated the count. Yeah, so that was our analysis. And we were thinking of one more leg down. Basically, that’s more or less the same case here, maybe one leg up Wave 4 continuation, but eventually we were looking for one leg down. So that is the case in the last webinar, let’s check the current data field and see where we are. So 26th of April, so 24th of April would be somewhere over here, right? So let me place vertical line over here, so as you can see, there was no clear what you call a leg down in this market. And the reason is, quite simply that our count is not followed, like, at all. So let’s have a look at or discuss what is actually going on in this market. So the point that I missed in the last discussion was simply that we have this as an OANDA chart. But on the actual futures chart OANDA by the way means basically the CFD chart or contract for difference. But on the actual future chart, we have made a low of minus 37.5 is the level I think, or somewhere around that minus 37 level. So the simple fact or the fact of the matter is that if it has gone to minus 37, then it has already completed whatever impulse in the downward direction it had. But the simple fact that I was looking at the the chart on the CFD, that point got missed out. But the situation was sort of unprecedented because 99% of the time the CFD charts and future charts are pointing towards the same thing just because the data went negative and there is no provision for Negative data, I think in CFD charts, all the CME had intimidated that the negative data can be shown on terminals. But I don’t think that was the case with CFD brokers. So that was a mistake, or sort of a rare thing that to happen, so I won’t even call it mistake. Fact of the matter is the impulse which was on this Weekly chart, let’s quickly have a look at the bigger picture for a second. So, what the impulse was on this weekly chart, well according to this count of A down, B triangle, C down and within the Wave C down, we were expecting Wave 4 down, but since it has gone to negative levels, we will consider that impulse is complete. So in theory and in practice, this correction is complete is what we should say, unless of course, we are expecting minus 42 as the next level. So leaving the jokes aside if the Low has been established then that means we need to relook at this market and try to figure out if this market is giving you a proper impulse if it is an impulse then which is the wave structure or wave count we are at within this impulse. So for that let’s head back to, say what, think four hour should be enough. No, let’s get back to one hour. Yep, so on the one hour chart if we check the market from the last flow, by the way, if the internet is disconnected for a while, then do wait. I will just change the Wi Fi and join back in the internet has been fluctuating a little bit for the last few days. So there might be a case where I have to rejoin the session. So Don’t leave off, I will join within one or two minutes if such a situation happens. So getting back to the discussion from this point of reference, which is the low on the CFD chart. Again, I’m specifying this is not the actual low here, we will have to refer to the futures chart, but let’s just take it from where it is around 11 ish levels, we are of the view that we have impulse in the upper direction. And this impulse, which is coming from a lower level, much lower level, which is not on this chart, I’m of the view that if we follow this green count that this is the wave one, this is the wave two down and this is the wave three up complete, right. So if you just follow this green count, then if this is the correct count, then wave four should ensue and wave four generally goes to 23.6 to 38.2 levels, although that is just a guideline. It can just go up from here as well. But my view is that a correction might take place over here. And even if it doesn’t, the better strategy here would be to wait for a corrective leg down here. So, for instance, this could be our Wave A and Wave B and Wave C leading to Wave 4 down over here right. And once a correction is there, then I personally would like to see or figure out some long trading opportunities on this market, theoretically and practically if discount is followed and we see an ABC correction then market should go up and take out the high of what we call 27.40 something levels. So, that is basically what we are expecting in this market. We are looking for a correction and then a leg up. That is our main hypothesis. Second view is that it can go straight up for the wave five, in which case we will assume that Wave Four Circled is complete over here and is not continuing. That is possible, but less likely, quite less likely. So I personally will wait for down and then up with these levels in mind. And keep in mind, you can follow this count, but it would be a better idea to go to the futures chart and refer that chart with this count in mind, because that would lead to a little more clarity, I would say. But since all my work is over here, I’ll just stick with this chart for now. So that’s our view on crude oil, I guess. That’s the main view the another alternate view, which is very low probability is that you can say that this is Wave A, Wave B and Wave C. Right? Although as I just mentioned, because extremely low level has just been registered, we should consider the leg up as an impulse. But just in case you have an exceptionally bearish view you can go ahead and say that this is Wave A, this is Wave B and this is Wave C. And that at this point can not be relegated, at this point in time it is a possible count. But again, I would just consider that as a low probability scenario. And my strategy would, as I discussed, will remain to wait for possible sell and then plan for longs. So that’s our view for now. Let me know quickly if you guys have any query in this regard, else we will move on to the next chart. Please use the chat section. If you are clear, just type in clear that way also, we can just move on. So guys, this is a bit of an update here the discussion made in the webinar yesterday. I was not satisfied with one of the points so I have updated the view here. So this is later done recording, which I’ll be adding to the webinar recording. So just wanted to point that out so that the people who attended the webinar are not confused. So getting on with this discussion, this is the chart of gold one 1 hour, let’s quickly have a look at what was discussed in regards to Gold in the last webinar. So in the last webinar, there were two views, Hypothsis 1, let’s quickly check where Hypothsis 1 or the main count is. This is by the way Hypothesis 2 , I’m still waiting for checking Hypothesis 1. Yeah, this is this is Hypothesis 1. So as you can see on the screen Hypothesis 1 is suggesting that Wave W is complete over here Wave X is complete over here. And this is going to be in Wave A over here and correction over here of some sort, Complex, Flat, Zig Zag, Triangle. But basically downward movement, right? downward movement from this level of 1726 was what we were expecting, which should later be followed by one leg up completing the Wave Y. So that was the count in the last webinar that we discussed. And yeah, this was Hypothesis one by the way. So the main count that we were expecting to be seen in the actual market. And the second hypothesis was that Wave Y is already complete as a Wave A and Wave B and a very small Wave C, which is very low probability. But as you can see, it was Hypothesis two, so not what our main view was. Anyways let’s get back to the actual discussion and see what the charts have done so far. So the chart discussed in the last webinar, which I just pointed was on the daily timeframe. So the market was 24th April over here. Yeah. So, over here the market was and we were expecting that there is sideways correction which should see a downward leg movement sooner or later. So, for now, we do have the same count being followed nothing is altered, I would say it is going as expected. And let’s have a quick look at the updated view that we have so far. So, in this updated view, this is by the way on a shorter time frame that is one hour. So, this is our point of reference for that discussion, this discussion 1450 levels from here on I am of the view that this is a W X Y complex correction in the upward direction. And either the Wave Y is already complete here or we can have this correction continuing with one more leg up, right. So in either case, either if the Wave Y is already complete, or it has one more leg up to complete over here. Both the cases are suggesting that downward movement should follow in this market, right. So as you just see, we are still in alignment with over past count and the count so far looks to be following, as expected. If the Wave Y which we are expecting in the downward direction follows right from this level, then we can expect the price movement to be around this support region of about what is 1580 to 1560 or lower levels, right. If the market does go and give one more leg up, then we’ll have to check at that point in time and figure out some possible targets. But really quick out of this discussion, I can make the point that this can be viewed as a three down three up and then five down kind of correction that is a simple flat. So this will be your Wave A as three down, right. This will be your three up as a Wave B which is either complete over here or will have one leg up remaining before it is complete and should be followed by five legs down right if this is a flat that is what I mean to say it can be some other complex correction or simply a triangle as well. But in all those cases also we will be expecting downward movements. So, fact of the matter is that, sooner or later this counter should show some sign of weakness and that will be our clue or point where we will plan our shorts Right. Right off the top of my head since the point is unclear if this Wave Y is complete over here or has one more leg up remaining, the only clear comment here I can make is that if this market goes above this level, then we will just place our alert here by the way at this point in time and once it is crossed on the upside, then we will start to plan shorts, at that point. Once it has crossed to the upside, we can then place a new alert on these swing lows for instance over here as short entries. That is one way of looking at it but better strategy would be to let it cross above this level and then strategize because at that point new information will become available in this market. So, long story short, we are still following the same count as we were in the last discussion and still looking for selling opportunities on this market. And just to add on this particular triangle that you see over here was actually followed in the Slack group and was posted beforehand. That is this break above this high was actually captured when I was looking at this chart on regular basis, so a lot of things do get captured over here, so this is by the way, the post on Slack here, we were looking at this count and this triangle was there and alerts over here. So let’s check what happened in the next one. So as you can see, did give the break so just wanted to point that out that this chart has been a bit clearer compared to the others and keep that in your tracklist. Sooner or later it will give clarity. So that’s all for my main view on Gold spot. And secondary view will be that if the Wave B is somehow already complete, which I do not think is the case, because there is no clear pullback for Wave B, then it can go straight and shoot up in price. But as I said, That’s not even something I’m considering at this point of all the multiple hypotheses I’ve considered that isn’t even in the top three. So yes, straight off, up if it goes then that will be a low probability scenario. So first of all, we will like to see a correction and then up so pretty much I am of the view that the count here is being followed. And that’s all for our discussion on Gold. Wait and Watch for short before entering any long position, with the idea of keeping an alert near 1764, for the upside, once that is breached, we will look for sell or you can also keep an alert below this Wave B low level which is 1658. That will also act as a good level, suggesting that once this is crossed to the downside that Wave B is most likely underplay. So these will be the two levels to watch out from a strategic point on Gold. So that’s it for this discussion. Moving on to S&P’s 500 the count that I’ve been following so far is that we are in a corrective upward movement. And it is followed pretty well so far, I will discuss another scenario as well. But let’s just go on with what we have so far. This is my current outlook. Right. And yeah, one second we will have to quickly check what we discussed in the last webinar so as to build upon that. Around 28 something if I recall correctly, our view was sideways before one leg up. Yeah, as you can see over here, the view was that this market will go a bit sideways possibly as Triangles, Zig Zag, Flat, whatever, before giving one leg up and in eventuality it will break this high, whatever that is. So this was the discussion in the last webinar. Let’s see if there was any other point made in specific or not. So there I am just discussing some longer term views. And here we were just discussing some possible targets, whatever. So Yeah, I’m pretty clear you can even check it later on the analysis was sideways and then leg up. And as a matter of fact, in the Slack discussion, we were able to actually, let me just mark the date. So from 24th of April, which is when we did our last discussion, it first went up and then sideways and it is still going round and round around that level. However, I will like to mention the simple point that in the say what, my own tracking of this chart, on one hour and 15 minutes, we were able to track this leg down, this leg, up this leg down and this leg up as well. So basically all these swings were actually tracked out in the group. Before me move on with the current discussions. Actually, this is generally the case with S&P that it is a bit unclear. But in this particular case, it followed the whole scenario or the whole count so well that we were able to track all the movements Let me check if there is a 24 April, I can show some charts or something like that. So here we were waiting for a down leg on this chart. Later on, it went up and after that, gave the strong fall the targets were around 2800 level. Later on, it even achieved the, oh yes, I recall this one just kept continuing for a while, and this was supposed to be averaged. And then later on it gave the fall. So this one was not really completely as expected. At this point, we were clear that this was ABC complete and target minimum and this was the main target around 2800. From there on, it did give the whole fall. And from what I recall, it did go and test this lower level as well. Let me check as well. Yep, as you can see, it touched the lower level and then our view was it should give a small correction up either from this level, current level or by touching the lower level of this white support zone. And not only did it go up it even touched our upside target, so you get my point. I’m not going to go into much detail but we were able to track, I think we were able to track this move as well, but that’s beyond the point because that was before that webinar. So this has been a good month for tracking these complex markets, Gold and S&P, which generally are not that clear, were clear on short term or intraday timeframes. Moving back to our analysis, what I was suggesting was that we have possible w x y. And if this count is correct, then Wave Z should have one leg up right, because Wave Z is what A, B and Wave C and if we are to go with this, then this looks like most likely Wave A complete or continuing, should be followed by a corrective Wave B, and should be followed by a leg up fore Wave C completing the Wavew Z, right. And possibly at that point in time our upside targets will be achieved, who knows maybe exceeded. But if you look at this chart from a theoretical perspective, then you will find that from theoretical perspective, all you need is a high above Wave Y, right. As soon as you form a high above the last high of Wave Y, which is this level, whatever this level is. So, as soon as this like high is exceeded, you can theoretically say that Wave Z is complete, and although it is a very low probability scenario, I have seen it happen a few times. And I think one time it was in Gold, I think two or three months back and I discussed that one in the webinar as well. Maybe four months back or five months back. But anyways, you can check if you’re really interested but it does happen very less, but we can not relegate it so we can take Wave Z as a low probability count complete over here, right. Like Hypothesis 2 or Hypothesis 3 but the main count remains that Wave A up, Wave B down and Wave C up. So my view will be that who knows that this correction might extend. Me pointing out Wave X doesn’t really mean Wave X is complete here. X waves are generally complex as well. So it is possible that Wave X is still continuing so doesn’t really matter because I personally will be waiting for a clear correction before any Long’s in this market. Right. So either Wave X is complete or Wave X is, continuing, whatever the case is, wait for a clear pullback before taking any Long’s that will be our Hypothesis 1. Wait for Long’s. No straight out longs. Unless of course you have the capacity to hold this position in futures and carry it forward even when it’s falling, falling, falling and then average it three four more times I know people who can do that as well, some trades are pulled up pulled up like that, but that leads to extreme negative scenario when the market is near these levels. So better scenario would be, wait up for this Wave X completion or Wavw B pullback. Whenever it becomes clear. Try to take the long’s and worst case scenario first Hypothesis 1 is wait for long, worst case scenario is that it is done and dusted. And Wave Z is over here which I am not agreeing with at this point. I don’t think that that Wave Z is complete here. But well, if it’s going to do something improbable then it can do that. So yeah, that’s our main count on S&P for which I have discussed both Hypothesis 1 and 2, main idea is wait for long’s but only after a pullback, I think I should mention it as a down arrow and then an up arrow. And if you are really interested or keen in the targets, then I think the targets that we discussed in the last webinar will be pretty much valid here. But just wanted to point out out of no Elliott Wave but just simple discussion that this looks like a good level of resistance over here. So this level of about 3100 we can check the precise level, 3130 something think was the level we discussed in the last webinar as well. So 3100, 3130 something can act as a good resistance. But anyways, more precisely, I will only be able to check once this Wave X low is in place, right. Or, I mean this Wave X low is in place or this Wave B is in place. I think that’s all for our discussion on S&P, give me a quick yes or no or any questions you have. So before we move on to the chart of Nifty 50. Okay, clear everyone. Yeah, one last point I just like to discuss, although I am not in alignment with discount on S&P is, that if you really want to take this moment as an impulse, then maybe you can take the case that this is a one, this is a two, this is a three, this is a four and this is a five. Again, I’ll just like to mention I’m not really in. I’m not only taking this as an impulse up, but even if you consider that count, it doesn’t really matter because once this impulse is complete, it will give that correction and then a leg up. So what I mean to say is even if you count this very low probability scenario, the directions as we said previously were down and then up. In this case also they are down and then up, although it will play out a bit differently. But that remains to be seen and I’m not really in favor of this count. Is long term still downward trend on S&P, Pawan I think the long term view is sideways, if not bearish, then at least it should remain sideways. Though bearish leg will not be a surprise. But even if there is no bearish leg after this big of a fall, you do not expect markets to go straight up. If they do go straight up by any chance or luck. Then this will be a good sell or mindless selling after the high, for that would be a false break 99% cases I would say. You can check the past data of Dow Jones. Previously when there was this huge fall it took about Good, good, good, good amount of time to just keep going sideways, sideways sideways before moving another leg up. So I guess you are clear there and we are here on our discussion on S&P. Let’s move on to the chart of these Nifty 50 and see what this market is doing. So here, let’s just quickly have a look on the chart of I mean not the chart, but the video of the webinar and what we discussed in the last meeting. 33:54 So we are already there. So if I recall correctly, the view was in alignment with S&P we were expecting sideways and then one leg up. And here I might be discussing multiple counts. But let me see where is the main count where I was saying sideways and then a leg up. Yep, that’s the main count. And this was fitting with our understanding of the S&P, which Nifty is currently also seemingly following. So let’s just see if they followed a sideways and then upleg or what did it do? After 24th. So it did not really go sideways. Or you can say that theoretically, it did go sideways because I have a triangle sort of mentioned over here, which is actually a triangle, but not really in the classical sense where our thinking more sideways movement right. But it did follow the counts nevertheless, because the direction was sideways to bullish, sideways to bullish means you can sell the puts, statistically speaking, I’m not suggesting any tricks, but statistically it means you can sell the puts and that’s sort of one way of looking at it. And so it did succeed in doing all that which we discussed last time. And, and I recall correctly, one of the targets we were thinking was this gap zone, right? Which was suggesting a target of 10,000. Now as you can see, it never really touched exactly the complete thing, right. completely if it had touched it would have been around 10,000 something but it did go and make a high around 9890 something. So 9900 you can say almost given take of 100 points. So I would say it did follow everything theoretically, practically both ways it was tradable directions were as we expected. So let’s leave the past to past and let’s see what it is doing at this point in time. My view is, again in alignment with the S&P, and as we discussed in S&P my view was most likely it will give a correction before it gives the leg up. And same here for Nifty, I am thinking that most likely if we just take this as our point of reference on 9900, or whatever that level is, then my view is that this is a ABC. So basically a Wave W. And Wave X is either continuing or complete, but whatever the case is, let’s just say it’s complete. Let’s assume that, then this will be having another Wave A down, Wave B up and Wave C down. And the reason as I just mentioned is that because it is in alignment With S&P and secondly, if the market has to really go up, then it should at least give a little bit deeper correction. It’s not even touching the 50% retracement, right. This is by the way the 50% line 8698 or let’s just say 8700. There’s a 50% level so it’s not even there, no rule or guideline saying that it has to go there. Okay, so I just discussed a bit of variation in my count, I have taken the Wave W here. So but long story short, you can count this leg down in multiple ways, someone can even say that this is a 12345 and with a bigger Wave four and I will not say it is wrong, but that doesn’t really matter, the view remains the same. I am expecting at least one leg down before up. If it goes straight up. That’s also our Hypothesis 2 I would say, that is also possible If it goes straight up, but I will be interested in creating positions if I see a clear like down, that’s my strategic understanding of this market. If it goes straight up, then probably I will wait a while and see how it is forming the counts on intraday and stuff like that. A little more detailed analysis than this general overview and then plan on taking the trades. So yeah, that’s the strategic take on Nifty, wait for a correction before any possible up move Hypothesis 1, Hypothsis 2 is suggesting straight up. Hypothsis 1 is obviously as the number suggest one is the main count we have. So yeah, that’s the strategy all along. I think pretty much simple here. Let me know if you guys have any query on this chart. Else, we can just end Nifty discussion. Question : What is the long term trend, could we see a take out of 7511 ? Where is 7511? So he’s referring to the low right. So it is to take out 7511 my view is still sideways to bearish because as you can see, I’ve have only taken this whole leg down, if I remove all the counts as a corrective leg down right. Three waves correction. This again is in alignment with the S&P chart where the leg down is again three waves correction, although that one is much more clearer. So, if it is a three wave correction then it can just either continue sideways as a correction or it can continue as sideways correction for a while and then give another leg down as in a Zig Zag right. Let me show you what I mean. So if you are going with that then this will be what practically it should look like. But yes, it can go down. And since our view is either sideways or bearish for the bigger picture, I wouldn’t say that it will go straight down falling, but it is possible given that my short term view also is bearish. And the minimum target I’m expecting is the 50% line, which was around 8700 I think, 8700 would be somewhere over here. Let me check that exactly. So not to mention it can go lower as well. That’s why I have the 78.6 and 90 plotted here. Question : Will it go below this low? I won’t speculate that far. But I wouldn’t be surprised if it goes and gives a deeper retracement. I am actually short in some major stocks of Nifty so my view is actually quite bearish if you ask me. But I won’t speculate that far, is doesn’t really have much practical significance at this point. Question : If it retraces 50% any room for further upside? What do you mean by 50%?, 50% Of what? Maybe you’re referring to this higher to this low maybe, right? hasn’t really properly tested 50% retracement I think. But yes, it may go down that as I said, it may go down that is a possibility. But instead of playing the index downside you all know full well that indexe is an average and stocks are what constitute the average. So, if Nifty goes down this much, then there are 10s of stocks that I can name at this point which are already at this low right. Mostly banking stocks, right. Just check what you call Banking and Finance stocks, Bajaj Finance, ICICI Bank, from the top of my head Axis Bank is also near the low and Bank of Baroda I think or some other bank starting with B has already broken this low substantially like every other session, PSU banks like SBI is already breaking the low day after day. So, you get my point, right. Even if you have a very bearish view, you will not play it on the index, you will try and choose the weakest stocks. So that’s that’s that. Yeah, Amazon, I am actually following Amazon. Question : Can we see Reliance, Bajaj Finance, ITC. Just to mention I have a position in Reliance so I will not be able to discuss that stock. But if you check the last analysis of Reliance, it sort of followed precisely, you can probably do that on your own or I can post GIF, which is the current new thing I’ve picked up that I do post GIF images of the things that we have discussed and that worked out over here. So, I will possibly post for that in regards to Reliance, but I will not be discussing the stock. Question : If price goes above trendline, then can we confirm Wave Z has started ? I would not say that’s a confirmation Syed because it can just form a complex structure. It can just keep going sideways here, then fall and then go up. So, a leg up, I will not say that it’s a confirmation that it’s going up right. Though I have a count that says it can go up as Hypothesis 2 but having that arrow up does not mean I’m saying a move above this high is a confirmation for straight up. That’s not what I mean. As a matter of fact, it can get a bit messy or complex here. I’m just pointing out the directions for that. Aurobindo Pharma, I think Aurobindo let’s check if I have a clear count on that one. One of the pharma stocks as I recall was clearer. I think it was Aurobindo, maybe, maybe not. Okay, it was Aurobindo Pharma. So my view on pharma sector is that maybe the movement might come to an end sooner or later, right. So as you can see on our Aurobindo Pharma, this is our point of reference around the low of 290. Right. I’m not gonna discuss the past data. So if you just look at pure chart and we already know the impulsive nature is 12345 in Elliott Wave studies. So, then comparing this to the rough structure it has followed it so well that you can even see one and two and three and four and four, I think four I have taken as a triangle here right and this is looking like Wave Five. So, my point here is that if this is the fourth and fifth is under play, then sooner or later the Wave Fifth will complete and then we can look for a proper selling opportunity. But for now, I will not be selling this Aurobindo pharma for sure because Wave Five can become extended. And as we all know, the rally in pharma stocks was exceptional. I mean, the Nifty’s turn to the upside was having a huge contribution of the pharma stocks. So I will say keep this one in the watch list because the counts are so very clear. And if this is the right count, I mean, it can follow a few other things. You can also say that no, it is not an impulse up it is an ABC correction where this is the Wave A, this is the Wave B and this is just the start of Wave C. So, I won’t say that is not the case. But as I said, I’m not really going to short it anyways, I’ll just wait for a proper completion of the fifth leg and have some clear evidence before I enter in any sort of shorts. But yes, that’s a good stock you pointed at Sandeep. And let me see if we have clear outlook on Amazon, although I’m following it, I’m not sure if it is worth discussing in this public webinar because sometimes they can get way more complex and require way more time than we have on our hands. Okay, so worth pointing out here that So I think this is worth pointing out, and I’ll discuss it from the shorter term perspective only I won’t be discussing the whole thing. So for Amazon, I think we were tracking it somewhere over here. And we were able to check this moment out, or this was actually posted in the #stocks_us channel on Slack. And then we were tracking this correction, and we were able to take at least one leg or two legs, I think two legs we were able to clearly take and somewhere around this point it became unclear to me. But anywho’s, it did give a big move and some other big moves were captured on this chart, leaving that aside, following the count is one and two and I think this is the third, this is fourth and fifth. So we check in regards to over fourth and fifth, then it is unclear that is this Wave Fourth complete already or is continuing as complex as I just mentioned previously, as well in our another chart discussion, I think it was Nifty and S&P both that Wave Four’s can get messy. So you cannot just say that this is Wave 4 complete, this is Wave 5 complete. So yes, it can go sideways first, right, sideways in the sense in this box righ. And then go up for the last leg before it gives a bigger correction. Or it may have already started the correction that’s also there. But keep in mind If it is going sideways for this for which I have pointed out here; then this Wave Five can be a little bit bigger. Right. It can go substantially higher as well. So, I won’t say there is a clear trade on Amazon, but this is a stock worth tracking at this point in time because it is running very, very clear. I wil say exceptionally clear. So, if you track it for a few days, I think even on the four hour or one hour timeframe is fine, you know. So, even on those timeframes, I am pretty sure it will give a good, clear trade setup, sooner then later. For now, I will just say we are unclear if it is straight down like this, or it is down and then up. It’s our analysis on, or quick look at. What do you see Amazon. I think we have discussed two stocks and all the main charts that we discuss and we are already at the one hour mark. Let me know if you guys have any queries on Amazon first. Question : Bajaj Finance is near it’s low, do you have counts on it. Yes Sandeep I have count on about 100 plus charts I will definitely not be discussing Bajaj Finance, it’s one of the complex ones. It will actually take like 20-30 minutes to discuss that chart. Clear on Amazon. What about other guys a little bit more participation will be much appreciated. And yeah, just one more thing I want to point that I have seen the participation in the webinars is rather decreasing, then increase also the channel has started getting lesser views. Compared to what I used to get previously. Previously, I was getting somewhere around 3000 plus views on some videos as well. So, what my point is that these videos and analysis takes a ton of time. And if I’m not really seeing any good participation, then eventually it does not work out, right. So I guess you guys know what I mean. So if you can share, which I think many of you can do, is in your capacity, because I mean, who doesn’t speculate in the stock market, even if they don’t know Elliott Wave, everybody does it. So your participation or sharing is important here. Right. And that’s one point. Second point is I’m planning to start on the next three month batch from next month, which will be June. So if you guys are interested, any of you in the audience, those are, by the way, much more personalized than this quick outlook. For instance, in those classes, we spend two to three hours sometimes on just one index or one stock chart. So, take my word for it, they are all on a different level. Don’t compare it with these public webinars, I have my limitations of what I can discuss, I cannot just spill out all my hours of research here. So any of you are interested or if you know someone from your friends or colleagues who might be interested then kindly point them to this webpage of www.50eyes.com/training-program-lt and you can also refer to my past accuracies of three consecutive years. I think three is more than enough. I never really checked what was the 2019 accuracy report saying; because compiling at least one of them took 24 plus hours. So anywhos, three is more than enough. If you want, you can check it is way above industry standards. And I’ll be more than happy to work with the serious students. So that’s about it, next batch announcement and the passive video course is always there, if you guys have any other query, you let me know. Quesition : Last webinar you had told plans for service. Ya Sandeep, I was thinking in that regard, but it’s just way too little of money in those things. I mean, if you are a trader you already know how much you can make per trade. So I don’t want to take the headache of managing 20,30, 40 or whatever number of people I can get for pennies. So I just relegated the idea of any possible advisory at this point. If I do plan on doing it, then it won’t be. I mean, I don’t see how it will work out. Though I am interested in Managing Bigger Funds. If you guys have anyone in contact, I will be exceptionally grateful if you can point them towards me. I mean, the bigger money in the market is in the market itself. And I have the skills and expertise and I am already tracking way too many markets to mention like every day I’m tracking hundred plus markets regularly. So if there is any contact you have as a Fund Management opportunity then do kindly point it towards me or you can even mention to me in email, you can just go to the Contact Us page here, you can email me or you can use the simple Contact Us page( https://50eyes.com/contact-us/ ) . I think that’s all for our discussion. And yeah, last thing, do share it if you can. I mean, obviously everyone can. I will appreciate if you guys share it. So with this, let’s end this session. Okay, guys take care and bye for now.

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Details for Training Program LT, upcoming June batch can be requested here : Click Here

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The post 17. Applied Elliott Wave Webinar (Crude, Gold, SPX, Nifty 50, Amazon, Aurobindo Pharma) May – June 2020 appeared first on 50 Eyes Market Analysis.

Note : The original recording of this webinar did not pick up the audio and hence this video is a voice over of the original screen recording.

Crude Oil, SPX and Nifty analysis done in last webinar played out as expected : 

Crude Oil Analysis (As discussed in last webinar) : 

Crude Oil Analysis suggesting Big Fall to Come

Outcome of Crude Oil Analysis : 

Crude Oil – Final Outcome

SPX Analysis (As discussed in last webinar) : 

SPX Analysis suggesting upside move

Outcome of SPX Analysis : 

SPX – Final Outcome

Nifty Analysis (As discussed in last webinar) : 

Nifty Analysis suggesting a downleg later to be followed by an Upside correction

Outcome of Nifty Analysis : 

Nifty – Final Outcome

Timestamps :

• Crude – 1:51
• Gold – 19:47
• SPX – 27:16
• Nifty 50 – 33:54
• Regarding Training Program – 39:00
• Reliance (NSE Stock) – 40:20

Learn Elliott Wave Principles :  Video Course

Details for Training Program LT, upcoming batches can be requested here : Click Here

To receive invites to upcoming webinars subscribe to Emailing List.

Disclaimer – All content presented here is strictly for educational purpose, do read the complete site disclaimer before taking any action.

The post 16. Applied Elliott Wave Webinar (Crude, Gold, SPX, Nifty 50, Reliance) April – May 2020 appeared first on 50 Eyes Market Analysis.