EURNZD - Wave 5 in progress?

1.50 seems to be the target for EURNZD. I've been short from 1.607, so i'll likely book my profits around 1.507. Fingers crossed.

EURNZD - EW Count, Renko

AUDNZD - Two interesting short term trades

Assuming that the EW counts are right, current long AUDNZD positions can target 1.095. Once target is reached, short back down to 1.0657.

AUDNZD - Elliott Wave Counts

Nike Inc - Targeting 56.57?

If my EW counts are any good, then expect Nike to drop to 56.57 to complete wave 4 and finally targeting 87 for wave 5. Long way to go.

Nike Inc. Elliott Wave Count

Chevron Corp - Targeting 138.5

This analysis is based off the Fibonacci methods written by Constance Brown. One of the first detailed books on Fibs that I picked up to read. While Conny Brown explains her Fib method based off regular OHLC bars, I thought, why not to use that same strategy with Renko. After all, there are some subjective methods involved such as which points to pick while drawing fibs and the like and in most cases, the starting point (while measuring up wave) doesn't always have to start from the lowest low.

Chevron Corp (CVX) - Fibonacci Method

So here's Chevron Corp with the fib based method. Although i'm a bit late in posting this entry, notice how beautifully this trade worked out.

We see price dropping after topping at 127.19, only to reverse near the 114.12 - 113.11. 111.97 is the perfect trade entry with stops at 108.38. The target we're looking at is 138.5.

Another way to make use of Renko bars as it removes the noise and helps you to focus just on the task at hand.

Coca-Cola Renko Analysis 07/04

Coca-Cola (KO) Renko Analysis

Natural Gas - Renko Analysis 06/04

I've been hit by Natural Gas' wild fluctuations in the past, which kind of developed my obsession towards this commodity. Using Renko charts and plotting Elliott Waves, I believe that the corrective wave 4 seems to have been completed near 38.2% of Wave 3, circa 4.365. The target for wave 5 comes in at 6.05

Natural Gas - Renko Charts, Elliott Wave Analysis

Looking at the same using my Trend following method, notice firstly the 3 EMA's lining up for a cross over. The recent drop seems to be supported by 150 EMA. Also with the Stochastics technically crossing above 20 level and MACD moving above the 0-line its a buy.

Natural Gas - Candlestick Charts, Trend Following Method

Additional confirmation would be see at least 2 bullish bricks on the Renko which could validate this trade idea. The previous support level at 4.7 could act in as resistance and there could be some bounce or even a retest to 4.365, which is a risk that should be kept in mind.

Boeing - Renko Analysis - 06/04

Boeing - Renko Analysis (Elliott Waves)

Looks like Wave 3 has been completed after price topped 142.82. Look for a bearish renko pattern to target 115.57 - 109.82 levels. This will complete major and minor wave 4, and long towards 142.82, 158.7 (book partial profits)