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Elliott Wave VIDEO: AUDUSD Flashback

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Sep 29 2020

Hello traders!

Aussie came lower in the last few weeks in risk-off sentiment. If you are our member then you know we have been looking for this move based on a lot of different factors; intermarket analysis, basic technical analysis and the Elliott Wave theory. In the video below I will walk you through the process of approach to this AUDUSD analysis.



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USDCNH : Combination Of Different Methods For A Top Formation

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Sep 28 2020

Hello traders!

In this article we will talk about how to identify a potential top formation based on the Elliott Wave principle, and in combination with different methods.

As you can see on a weekly chart below of USDCNH, the trend was up for the last 3 years, especially at the beginning of 2018, but later in 2019 we have seen a slow down within a bigger wedge shape, known as an Elliott wave ending diagonal in wave C). Ending diagonals usually indicate a reversal, which has actually happened this year, about what Grega also talked in his 2020 Elliott Wave Video Analysis here. But the Ending diagonal was not the only sign, which suggested a reversal; in fact, this turn was later also considered and even more powerful, after a double top formation, plus a weekly bearish candlestick reversal at the highs. So back then we had three evidences that were pointing to lower prices on the USDCNH. Of course, sometimes this will be only a temporary pullback, but sometimes very big moves, which was expected on this pair because of an Elliott Wave pattern, which was later confirmed after an impulse below the lower trendline support.
Looking at this market now, we believe that USDCNH can face more weakness in the upcoming weeks, maybe even years, as drop looks like an impulse, but like always, be aware of a potential short-term/mid-term corrective recoveries on the way down.


USDCNH, Weekly



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DigiByte In A Correction

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Sep 28 2020

Hello traders!
Today we will talk about cryptocurrencies, specifically DigiByte (DGBUSD) and its price action from the Elliott Wave perspective.

Cryptocurrencies are turning to the downside together with stocks after that strong and impulsive rally from March lows. Why cryptocurrecies follow the stock market is because they are not generally in use yet and they are just speculative asset based on investors mood at the moment. So, if investors do not trust the stock market, then they will not trust the Crypto market neither.

Anyway, let us take a look on an interesting pattern that can be seen on the DigiByte. As you can see, DGBUSD has a completed five-wave cycle from March lows, mainly because we can see a clear triangle formation in wave "iv" with price perfectly reaching the target into wave "v". And we know that in Elliott Wave theory, after every five waves, a three-wave a-b-c pullback follows, so watch out for a deeper decline, because wave "c" is still missing, which can push the price down to golden 61,8% Fibonacci retracement and 0.019 - 0.013 support zone before we may see a bullish continuation. If we consider that the correction may last for about 71 days like it lasted in the previous triangle correction in wave "iv", then we can expect support to be reached at the end of October.

Be humble and trade smart.

DGBUSD, daily



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USDMXN Pausing A Bear Trend

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Sep 24 2020

Hello traders!

It appears that USDMXN completed a five-wave drop which started back in March. A reversal that we see right now, is actually not a big surprise if we consider that wave five came out of a triangle correction that was recongized in wave four. Keep in mind that triangle occurs prior to the final move within a higher degree trend, so that trust out of the contracting pattern is final within higher degree wave A. From that low price started to turn impulsively and it broke out of an Elliott wave channel, thus confirms a low in place for a bigger impulse. As such, we can expect that USDMXN makes a three-wave corrective recovery to accomplish a full eight wave cycle. Usually this whole corrective rise stops at price levels of a former wave four, at around 22.9/23.2 region, or it can also retrace the 61.8% of a previous decline. But lets keep in mind that in some rare occasions an A-B-C movement can also retrace 100% of an initial five wave drop. But what really matters is that when a three wave correction is completed, confirmed by a new impulsive sell-off, then a new opportunity will show up on the short side of this pair.

Be humble and trade smart!

USDMXN, daily


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GOLD Making A Corrective Setback

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Sep 23 2020

Hello traders!
Today we will talk about GOLD and its price action + wave structure from Elliott Wave perspective.

GOLD was sideways with a slow price action for the last couple of weeks, which we see it as part of a bearish triangle formation in wave B. However, we know that triangles cannot occur in wave 2 and this is the main reason why we think that GOLD is just in a higher degree A-B-C correction, where we are currently tracking the final wave C that can send the price down to projected support zone between 1820 - 1765 area.

Later, once an A-B-C correction unfolds, we will probably see price confirmation with strong and impulsive rebound, which will give us signal for a completed corrective decline, but until then, we have to expect more weakness.

Be humble and trade smart!

GOLD, 4h


 

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(HTUSD) An Ending Diagonal; A powerful Reversal Pattern

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Sep 22 2020

Hello traders!

In this analysis we will talk about ending diagonals a.k.a wedge patterns. The ending diagonal is a special type of wave that occurs in wave 5 of an impulse, or wave C of a correction. This wave often occurs when the preceding move of the trend has gone too far, too fast and has run out of steam. An ending diagonal pattern is a type of pattern that can occur at the completion of a strong move. It reflects a “calming” of the market sentiment such that price still moves generally in the direction of the larger move, but not strongly enough to produce an impulsive wave. The reason why they are so interesting is because they are indicating a reversal.

One of ending diagonals we recognized for our clients during some of our intraday updates was spotted on the Crypto market, on Huobi Token (HTUSD). As you can see, it occurred in wave »v« of a higher degree uptrend. It is also important to know that once ending diagonal are finished, we usually see a reversal back to the starting point of a that diagonal and if we also consider that after every five waves a three-wave a-b-c correction follows, then we can assume that Huobi Token can be headed back to previous wave »iv« and 4.0 – 3.5 support area, especially once current 4.2 swing is taken out.

 

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Triangle On GBPUSD Suggested Limited Upside

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Sep 17 2020

Hello traders,

Welcome to our new video analysis where I will talk about recent developments on cable and current bearish turn.

GH



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