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NASDAQ 100 Wave Count Update

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July 06 2017

Hi traders!

Today I will give you an update on NASDAQ100 wave count that we tracked it on twitter a few weeks back. We were looking for a deeper set-back which unfolded in three waves. So question is whats next? See video for my view.

GH



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Is USDJPY Headed Higher?

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June 19 2017

Good day everyone!
In today's post I want to take a look at USDJPY more closely which I believe has some very interesting pattern unfolding since last week. What really caught my eye is that move up from 108.80 area that occurred for a second time from that important »Gap Zone« made in April. These gaps will normally act like a magnet to be filled, and once they are a new turn may occur. And this is exactly what we see on 4h chart. In fact, bounce occurred very aggressive from 108.80 last week and took out a channel resistance line connected from 114.37. Normally that’s indication of a change in trend, so I expect higher USDJPY especially if we consider the Elliott Wave look which shows a potential completion of a corrective set-back from May high. Reason for a bullish view is also an impulsive bounce on hourly chart which shows nice zone of support for this week around 110.00-110.50 zone.

Trade well,
GH

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USDJPY 1h


Bearish Reversal For EURUSD

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June 15 2017

EURUSD touched a new high yesterday ahead of FOMC press conference but then it turned sharply lower from 1.1300 area that we highlighted it as an important resistance a few times in our past updates. Notice that fall again came from that 1.1300 »Trump level«; a spike from November when Trump won US presidency.

An updated count shows an ending diagonal on 4h chart; a powerful reversal pattern that can cause a strong drop in the rest of the month. So technically speaking, it appears that euro can see deeper levels now, especially if we consider that three waves down minimum should be seen. From a trading perspective, I will pay attention to that red broken trendline that may turn into a nice resistance on a pullback, after wave 2)/B).

I have also posted this chart on twitter yesterday, so make sure to follow me at https://twitter.com/gregahorvatfx

Trade well,
Grega

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USDCAD On The Move: Video Analysis!

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June 13 2017

At the start of the month I paid attention to USDCAD and highlighted a bearish pattern. 10 days later pair is trading much lower.
I invite you to see our latest video update on that pair, plus USD Index and NZDJPY

Grega


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EW Video Update: EURUSD, GBPUSD and USD Index

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June 09 2017

At the start of the week we have been talking about USD index and EURUSD, and also a lot about cable on twitter. In my latest video I will give you my updates on these three markets.

Have a good weekend,
Grega


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EURUSD Video Analysis

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June 06 2017

We have recorded a new video analysis for EURUSD and compare it with 10 year US notes and yields.



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E-Mini S&P500 Ahead Of NFP

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June 02 2017

S&P500 is trading at all time highs with some sharp price move up from 2403 that we see it as fifth wave rally; final part of a five wave recovery from 2345, called an impulse wave*. There are some Fibonacci levels around 2440 that may play out an important roll for the next few sessions, as we think that upside can be limited and that new corrective set-back can be coming at the start of June. However, extended fifth waves are very common on stock markets, so do not chase it and call a top until you see a five wave drop from the high.



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___________
*Impulse wave is structured by five subwaves in the direction of a stronger trend. The picture below shows a five wave move to the upside, meaning that price is in uptrend. When five move is complete you can expect a three wave set-back.


wave 1 must be an impulse or a leading diagonal
wave 2 can be any corrective pattern except a triangle
wave 2 must not retrace more than 100% of wave 1
wave 3 must be an Impulse
wave 3 must be longer than wave 2
wave 4 can be any corrective pattern (zig-zag, double or triple zig-zag, triangle, flat, double or triple three)
wave 4 should never trade into a territory of a wave 1
wave 5 must be an impulse or an ending diagonal
wave 3 should never be the shortest wave when compared to waves 1 and 5

 

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