ElliottWave Forecast
January 29, 2019
ElliottWave-Forecast has built its reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 50 instruments including FX majors, Gold, Silver, Copper, Oil, Natural Gas, Soybeans, Sugar ,Corn TNX and a number of Equity Indices from around the World. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Elliott Wave Setup videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions. The guidance of ElliottWave-Forecast gives subscribers the wherewithal to position themselves for proper entry and exit in the Forex marketplace. We believe our disciplined methodology is pivotal for long-term success in trading.

Alibaba : Elliott Wave Running Flat Taking Place

We believe Alibaba will see more downside based on a sequence which started on 6.5.2018 high. It is showing an extra swing at 12.24.2018. This low can be counted as swing number 9 in Blue or beginning of the swing 1 Black of 3 red. The chart below shows the extra swing.

Alibaba Elliott Wave Sequence looking for more downside

Alibaba should remain under pressure and see more downside when the cycle or structure which started at 10.30.2018 low ends. At Elliottwave-Forecast, we pay attention to the sequence and correlation across the market. We use Elliott wave to spot the structure and then take a side and forecast the higher probability outcome. We believe the Stock is doing an Elliott wave  Running Flat since the low at 10.30.2018. The Flat is very clear due to the strength and nature of the reaction in 5 waves from the low at 12.24.2018. We can count the move higher a 5 waves impulse advance.

Running Flat is a structure with the following guidelines:
• A corrective 3 wave move labelled as ABC
• Subdivision of wave A and B is in 3 waves
• Internal of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
• Wave B of the 3-3-5 pattern terminates beyond the starting level of wave A as in an expanded flat
• Wave C fails travel the full distance, falling short of the level where wave A ended
• Momentum divergence should appear in wave C

The running Flat should follow this Fibonacci ratio relationship
• Wave B = 123.6% of wave A
• Wave C = 61.8% – 100% of wave AB

The following chart reflects how a running flat looks like in the Elliott Wave theory.

 

BABA 4 Hour Elliott Wave Analysis

BABA 4 Hour Elliott Wave Analysis

The chart above is showing a clear Elliott wave structure. In finding a structure that fits the price action since the lows at 10.30.2018 and at the same time relates well with ther instrument, we can conclude that a running flat is the most aggressive view.

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