Capital Trust
Capital Trust

Oct 24, 2016

03:03 AM EDT

  • New York close
  • London open
  • Tokyo open
  • Sydney close
Market Analysis

Home » Technical Analysis » TNX Short-Term Elliott Wave Analysis – June 02, 2015

TNX Short-Term Elliott Wave Analysis – June 02, 2015

Posted by EWF in Technical Analysis - June 2nd, 2015 1:05 pm GMT


Decline to 1.843 completed wave X. From this level, $TNX rallied in wave ((w)) in the form of a triple correction (w)-(x)-(y)-(x)-(z) where wave (w) ended at 1.989, wave (x) ended at 1.907, wave (y) ended at 2.252, second wave (x) ended at 2.101, and wave (z) of ((w)) ended at 2.335. From the high of 2.335, $TNX declined in wave ((x)) in the form of double correction (w)-(x)-(y) where wave (w) ended at 2.137, wave (x) ended at 2.301, and wave (y) of ((x)) ended at equal leg 2.092. The instrument then has started to move higher from 2.092.

As far as 1.843 level stays intact, $TNX is expected to make an extension higher. Or at minimum, the instrument is expected to bounce for 3 waves to correct the decline from wave ((w)) high at 2.335 per Elliott Wave hedging idea. The rally so far from 2.092 looks to be the first leg, so at minimum a second leg pullback should happen once the first leg of rally has ended, to be followed by another extension higher again in the third leg later. We don’t like selling the pullback.

If you would like to have an access of EWF analysis in real time, click here and feel free to join us. We provide Elliott Wave charts in 4 different time frames, 2 live webinars by our expert analysts every day, 24 hour chat room support, market overview, daily and weekly technical videos and much more.

Share!Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+

No comments yet.

You must be logged in to post a comment.

Forex, Commodities, Indices

Daily Updates

Daily Updates

Get the latest fundamental analyses, technical analyses and the most up-to-date Forex news catered to your interests, everyday.