Here are a couple of our current CFD Trades and some Elliott Wave and Trading Levels Analysis to go with them.
ASX: South 32 (S32)
The Elliott Wave count here is Minor Wave 4 has completed and Minor Wave 5 is in progress. Wave 5 will have five smaller waves of Minute degree and Wave i) and ii) are completed and S32 is now in Wave iii). Our entry is at 2.63 quite early in the trend and we are using CFDs to trade long. (See Elliott Wave background HERE)
t should be pointed out that one of the benefits of using Elliott Wave is the correction, because once a correction is established (which is normally on lower volume compared the previous trend) and a correctional pattern (overlapping wave structures) is also a continuation pattern, so new highs will be made. Of course we also need to look at the underlying commodities for mining stocks, but we also know their Elliott Wave counts have higher to go, not as fast as they have been but creeping higher over time.
LSE: 888 Holdings plc (888)
This is is a company which operates several high-profile gambling websites.
888 has had quite a clear Elliott Wave count https://tradinglounge.com/elliott-wave and works well with the Trading Levels
We have traded this market in its last up trend. The current long position is doing ok and I’m observing the internal wave structure in the move up to confirm it as correct or impulse wave, but for the time being the Trading Levels group2 is the target 65|72|80 that is 265|272|280 that create Group2
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Pete, I don’t know how you’re doing it but your ability to pick the fall of last night/this morning is impressive. Just wanted to say keep up the good work and looking forward to the latest ASX200 video! Cheers, Daniel B. VIC
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