Hello fellow traders. In this technical blog we’re going to take a quick look at the of XLI ETF, published in members area of the website. As our members know we have been favoring the long side in XLI. Recently we got a pull back that has made a clear 3 waves pull back that found buyers right at the equal legs area. In the further text we are going to explain the Elliott Wave forecast
XLI H1 Post-Market Update 1.25.2023
XLI ended cycle from the 109.9 low as 5 waves structure. The ETF is currently giving us pull back against the 109.9 low. Equal legs area is already reached at 112.38-111.54. We are aware that pull back can complete any moment. For now, we see possibility of a short term bounce in (iv) and then another marginal push down in (v) of ((c)) to complete the structure. We don’t recommend selling the ETF and expect further rally to resume from the buyers zone : 112.38-111.54.
Reminder : You can learn more about Elliott Wave Patterns at our
XLI H1 Post-Market Update 1.31.2023
XLI has given us nice rally from the marked extreme zone as expected. We count wave 2 red completed at 112.36 low. Rally made a break toward new highs confirming next leg up wave 3 is in progress. We expect to get 3 waves pull back, wave ((ii)) black that can give us approximately 50-61.8 fibs against the 112.36 low before further rally resumes.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent updates in the membership area of the website. Remember that not every chart is trading recommendation. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the . You can check most recent charts in the membership area of the site.
Elliott Wave Forecast
We cover 78 instruments in total, but it’s important to keep in mind that not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room. If not a member yet, and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy. Join us now and start learning from market experts. If you are looking for professional real-time analysis in Forex, Indices, commodities,Crypto currencies , stocks and ETFs you have come to the right place.
Welcome to !
Source:-forecast.com/trading/xli-found-buyers-equallegs/
