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AUDUSD IS Turning Bearish; Back to 0.7?

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Our Services             NEW!!Elliott Wave School

Dec 10 2018

Hello traders!
After some time, I have decided to share some free updates and analysis with you as I think this one can be very interesting based on clear pattern. I am looking at AUDUSD this week which has a nice and clear five wave drop from 0.7393 levels. Notice that this fall also took out the trendline connected from 0.7023 level which is an evidence of a completed corrective bounce from October low. As such, I am interested in trades on the short side of the pair, especially after intraday rally back to 0.7300 area which can be seen as wave 2) that may stop at that broken trendline. Even if that’s going to be wave B with limited upside, there is still room for a move lower to around 0.7100.

What is also very interesting when it comes to Aussie, is that this one is trading south despite strong Gold which is higher in a fifth wave, so now imagine what may happen to AUD if Gold suddenly finds a top and completes current uptrend. I think that in such case AUDUSD pair may fall very hard. On metal I am looking at 1250-1257 as potential resistance for current five wave cycle up from 1211.

If you want to track AUDUSD with me and stay on track of the wave count then make sure to check our services.

Trade well!
Grega









EURUSD; H&S Bottom In The Making?

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Our Services             NEW!!Elliott Wave School

Nov 22 2018

EURUSD rallied earlier up to 61.8% as expected from where we already see a reversal so it seems pair wants to go lower into wave c now; third leg o a pullback that can be looking for 1.1320, where new buyers may show up especially if we consider potential H&S bottom on the 4h time frame. However, keep in mind that H&S bottom is not confirmed until we see a broken neckline which would be only if pair goes back to 1.1470.








Are BTC And GBTC Already Searching For A Support?

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Our Services             NEW!!Elliott Wave School

Nov 20 2018

Hello traders!
Today we will talk about Bitcoin Investment Trust – GBTC chart. Bitcoin Investment Trust is an entity that was established to give investors a way to get exposure to the bitcoin market without actually buying their own Bitcoin, but of-course it follows it when it comes to the direction of a price. So sometimes, when we analyze it is good to look at different products and see if maybe on some of them there are any interesting patterns forming. What we are looking at below is a wedge pattern with price now trading at the lower trendline. So it can be an important do/die zone that we should be tracking closely if maybe we get some bounce from here. However, it will be very important for investors to see GBTC forming a low before they act or may want to call any bottom here. We are talking about confirmation, which would be only a rise above the upper resistance line. So now its definitely to soon for any bullish call, but if we are on the right track, then 2019 could be an interesting year for sure.

At the same time it's good to keep an eye on stock market. You might noticed tight correlation between BTCUSD and NASDQ100 maybe, so if you are waiting on bullish Crypto trend, we suggest you to track US stocks too and wait on price to stabilize first. For now that is not the case yet, but it can be interesting once US stocks moves below Oct 29 low, as that is when bears may start looking for a base.

Trade well.








USD In Pullback, BTC and Stocks Lower; More Damage Ahead?

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Our Services             NEW!!Elliott Wave School

Nov 20 2018

Hi there,

USD Index is turning lower for the last week or so, while gold bounces and stocks keeps moving lower. This is an eviroment where USDJPY find itself on a bearish track that we have been talking a lot in the last two weeks. I am talking about this development in the video below, and alos covering some of interesting patterns on other markets as well.


Trade well, GH


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EURGBP Can Move Towards 9.000 Area

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Our Services             NEW!!Elliott Wave School

Nov 16 2018

Hello everyone,

EURGBP is trading sideways for the last two years within a very big contracting range. We see that path as a five A-B-C-D-E move where each leg has a characteristic of a correction. It’s a triangle that can be coming to an end of wave B so despite very strong leg up in the last few days, this can be still just an early start of a much bigger bullish trend that could lift pair even back to 2016 highs once the upper trendline around 0.91 is broken.

However, what really matters to me at this point is a bounce from the lower trendline support which means that new, at least temporary swing is now underway to the upper side of a range; to 0.9000. So from a trading perspective, despite potentially limited upside there is room for trades on the long side, especially if bounce from 0.8655 will unfold in five waves. For not that’s not the case yet, but seems like it’s going to happen. So with that being said, a three wave A-B-C pullback on hourly chart can be interested for longs. This view remains valid as long as 0.8655 level is not taken out.
EURGBP Weekly and 1h chart

Trade well!
GH


Pattern On BTCUSD And Others Can Suggests Limited Upside For BCH

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Our Services             NEW!!Elliott Wave School

Nov 05 2018

Hello everyone,

After a long time I have decided to make a new video analysis, covering some of the charts on cryptocurrnices that suggests to me that bears are not done yet. There is a slow price move, a lot of triangles all over the place, so new lows may occur as contracting range can represents a continuation pattern. Also, there was some nice rally on BCHUSD but resistance may not be far away.

Overall speaking, I think bulls will come but we may have to wait till next year.


Trade well,

GH

The Pattern On BTCUSD And Others Suggests Limited Upside For BCH by ew-forecast on TradingView.com





Triangle on EOSUSD Points Lower

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Our Services             NEW!!Elliott Wave School

Oct 29 2018

Not only EOS, the whole Crypto market looks slow and corrective within still ongoing bearish trend! Honestly, we don't see any bullish evidences and if we listen to the price action and if we respect correlations, then we should be aware of more weakness in the Crypto market.

So, looking at EOS 4-hour chart, we can see a five-wave sideways movement a-b-c-d-e with three legs in each wave which can be forming a triangle pattern. In EW theory, a triangle is a corrective pattern that indicates a continuation of the trend. That said, seems like EOS can be headed lower while it's trading beneath 6.1 region, but keep in mind that this triangle may become even more complex, so invalidation area remains at 6.8 level. However, to confirm a completed bearish triangle pattern, we need a break below 5.0 region that can open door for new lows even towards 3.5 area!

Also, keep in mind that this can be the final leg into new lows before a bullish reversal, which means that downside can be limited, so watch out for spikes as well!
Only an impulsive rally back above 7-8 area would indicate a bullish reversal, until then we have to remain in bearish mode!

EOSUSD, 4h



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