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Metals Can Attract Buyers In Risk Off Situation


June 19 2020

Hello traders,

Markets are slow and did not change much recently so our view remains mostly the same. I think that resistance on stocks is not far away, but there is a chance that SP500 is going to make another leg up for a three wave advance in B. But the most important I believe, is to track the 10 year US notes; when triangle is finished here, confirmed by a broken trendline resistance and wave D swing high, that's when real risk-off can kick in.

10 Year US notes, 4h

If there is risk that equities can come down, then investors may look for safety in USD and metals. From an EW perspective, I think that metals are in an early stage of a new leg up when looking at gold and silver, where recent price action looks corrective; three leg down on gold to 1704, and also big three leg down on silver to 16.93.


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Can TextBook Pattern Send The USD Higher?!


June 16 2020
As you all know, the USD Index is bearish since mid-March when US stock market bottomed so investors are not looking for safe-havens at this time. But this may change now, if we consider that stocks recently moved into some technical resistance area with extreme positive sentiment, which already caused some new flows and drop in prices last week. At the same time we see USD Index testing very nice, potential support area at 96.50 where dollar may try to stabilize. Technically speaking, we see a three wave drop from March high, with a triangle in the middle labeled as wave B so current leg down must be wave C of a correction based on Elliott Wave rules and guidelines. If that's a correction then we know what follows next; a bullish reversal that can already be in early stages, but as always we want to see price moving into wave A zone, meaning move back above 98.50 that can be nice indication later that bulls are back. At the same time, it would be nice to see a five wave rally on a intraday chart, as this would make the bullish case even stronger. If price drops to lower levels, then watch out for 94.60 as next potential support.

USD index, daily

Elliott Waves- BTCUSD: Waiting On Pullback


June 11 2020
I think btcusd can continue much higher, but before that a deeper pullback is something we have to be aware of.

Check our video below. And Please share, like and comment and support our work.

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Elliott Wave Webinar Recording


June 08  2020
Below is a recording of on-line "Elliott Wave Hub Forecasting" Event


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USD Index Update II.


May 29  2020
Hello traders,

A few days back I recorded a video and mentioned that USD index can break out of a bearish triangle. Well, we have seen a very nice move down in the last few days, so it appears that dollar weakness is here. Ideally the breakdown we see is coming out of a bearish triangle in wave B, so current weakness is part of wave C that can stop in the 97.50 - 96.50 support zone around important 61,8% - 78,6% Fibonacci retracement , or maybe even at 95.00 area if weakness becomes extended. However, we should be aware of a reversal from that area, ideally in five waves which would then be confirmation that dollar is again waking up. Maybe any dollar strength will be the case as »safe-haven«, when stocks come down from resistance.

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Have a good weekend!

May 27 Video Analysis:

USD Index Testing Triangle Support Line (VIDEO)


May 27 2020
Hello traders,

in this video I will talk about some of the markets I covered recently on our twitter profile. I will look into very important PUT/CALL Ratio chart which may suggests that stocks are approaching resistance. I will also look at crude oil, USD Index and pound.

Trade well,

The EW-forecast team

GBTC Can Be Forming A Bullish Triangle - Elliott Wave


May 26 2020
Hello traders!
Today we will talk about GBTC - Grayscale Bitcoin Investment Trust from Elliott Wave perspective, which is telling us where Crypto investors are hiding.

GBTC came to the upper triangle line in a recent rise, in three waves (A-B-C), therefore recovery can be corrective, ideally a bigger wave (d) structure, especially if we consider a triangle in sub-wave B in the middle. Now we are observing another three-wave (A-B-C) decline, probably down to 8.0 - 6.0 support zone for final wave (e) where a big bullish triangle may come to an end. That being said, watch out for limited gains here at intraday highs, because a bigger decline into a deeper correction can be around the corner, and the same can be with BTCUSD and ALTcoins. Later we can expect the real bull run, when everyone will be very bearish again.

Be humble and trade smart.

GBTC, 1h

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