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USDMXN Trapped In A Triangle With Possible Drop To 19.00 - Elliott Wave

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Oct 10 2019

After that very sharp and extended move up on USDMXN from 2014 through 2015 and 2016 the pair is now sideways which looks like a triangle. A lot of non-EW oriented traders would see this as a continuation pattern, which is fine, but from an EW perspective I assume that contracting range is part of weakness that is taking pair away from 22.00 high. Why? Because I see first drop from 2017 high very sharp and strong; to me it looks like an impulse, labeled as a wave A) that belongs to an ongoing and deeper wave four correction. If not mistaken, then this fourth wave should be made by three A)-B)-C) waves. But why I think this pair can be interesting now is because B)-wave triangle ca be coming to an end.

USDMXN, weekly


I like that price action on a daily chart from 20.25 to 19.31 is impulsive so it suggests that a three wave rise from April 2019 low is completed. And what is the best part is that even if consolidation is not finished yet, I still think that the lower side of the range will be retested around 19.00 region which is my minimum downward objective.

Any sharp drop below the 18.75 area would suggest an aggressive drop lower into a wave C). However, any rise above the 20.25 region would invalidate our current view, and that is also the price where we would start considering more direct-bullish interpretations.

Trade well, and talk to you soon,

Grega

USDMXN, daily


Is SP500 Back In Bullish Mode? Elliott Wave Video

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Oct 08 2019

S&P500 made a three-wave drop from the 3024 area which we labelled as a temporary A-B-C move; it's a corrective move so more upside can be seen. In fact, the intraday chart show an impulsive personality on a smaller time frame so more upside will be expected after any minor set-back. To get a full perspective, please check out video below.

Enjoy,
GH
  

Will Risk-off Continue? Elliott Wave On GOLD and SP500

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Oct 03 2019

Hey there,

Below it's updated video analysis for gold and sp500 based on latest developments.

For daily/fresh updates on these markets and many other check our trial www.ew-forecat.com/register.

Enjoy,
GH

 

Will Elliott Wave Send Gold Lower?

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Sep 19 2019

Good day traders,

Gold has been trading lower for the last week or so, in-line with 10 year US notes- market that has room for more weakness within A-B-C decline, so it wont be a surprise to see metals going down as well. Check video below for more information, plus USDCHF..

Enjoy

GH


Elliott Wave Covering EUR and GBP

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Sep 04 2019

Good morning guys,

This time I will look at EURUSD and GBPUSD pairs. If you have any questions feel free to contact me on twitter @gregahorvatfx

GH

 

Time And Price Can Limit SP500 Bulls At 2980-3000

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Aug 19 2019

Good morning guys,

the S&P500 is in a bear market rally (a pause within downtrend), which can be unfolding a flat correction within a higher degree wave B). Resistance for sub-wave C of B) can be around the 78.6% Fib. retracement (2970/3000 zone), from where bears may resume its downtrend. Also at the mentioned region, sub-waves A and C can be equal in length in time and price, so keep an eye on that potential reversal zone tomorrow at the start of the European session. However, what is always very important regarding trading and analysis is to wait on a confirming price action; only a later turn in impulsive fashion back below 2900 would suggest a completed corrective rise.

Trade well

GH

S&P500, 4h

 

Past Data and Elliott Waves Suggests Weak USD In August

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Aug 06 2019

Hey guys,

Based on past data on USD Index since 2015, we can assume that August will be another bearish month for the currency. In fact, there is also an Ellliott Wave formation that suggests the same... Question for some of you is, if this is positive for bitcoin? I think yes...

If you find this video helpful Please press like and support this idea.

Trade well

GH

 

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