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NASDAQ100 Is Back In Uptrend, But Pullback Can be Close

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May 12 2020
 
Hello traders,

Can you imagine that NASDAQ100 is already at that February gap? I remember very well, when we were talking about that possibility back in March, when everyone were extremely bearish, so market did the opposite; straight up to the gap or even ATH is now possible before deep pullback occurs. Price is now in the area where everyone will realize the market is bullish again, but again it appears they can be to late. When majority "goes in" with sentiment in positive zone, the turn is close.

Keep in mind that when a pullback occurs, be aware of a three wave set-back. In ideal formation we will see a zigzag, structured by A-B-C legs, which could be actually a new opportunity to join the market, before prices resumes even higher.

Trade well, Grega

NASDAQ100, 4h



Impulse, followed by a three-wave correction:




 

EURNZD Looking Bearish

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May 05 2020
 
Hello traders,

EURNZD made a big, overlapping drop but still in five waves from 1.993 high, thus suggesting that trend is changing to bearish, for a minimum three-wave larger move. We see a completed Elliott wave leading diagonal in wave A)/1) at 1.765 level, from where price started rallying on lower degree time frames. Ideally an A-B-C correction of wave B)/2) is underway now, and can face first potential resistance and reversal later around 1.85 level (Fib. ratio of 38.2). But because price unfolded an Elliott wave leading diagonal in the first leg, the correction can be deeper, and price can reach even the 1.914 level (Fib. ratio of 61.8) before bears takes over. In any case, further weakness for a third wave of a decline will be expected once current correction fully develops.

At the same time it's good to highlight that New Zealand has been fight coronavirus quite well compare to some other countries, so economy may pick up faster than maybe in some other regions, Europe per example. The employment figures will be very important in upcoming months, and we think that they can be better compared to EU so EURNZD may see weakness, but ideally from higher/better resistance price.

Trade well,

Grega

EURNZD, daily


When diagonal triangles occur in the fifth or C wave position, they take the 3-3-3-3-3 shape that Elliott described. However, it has recently come to light that a variation on this pattern occasionally appears in the first wave position of impulses and in the A wave position of zigzags. The characteristic overlapping of waves one and four and the convergence of boundary lines into a wedge shape remain as in the ending diagonal triangle. However, the subdivisions are different, tracing out a 5-3-5-3-5 pattern. These diagonal triangles are called leading diagonals.

An example of an Elliott wave leading diagonal:


 

The Elliott Wave Look Of Crude Oil

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April 27 2020
 
Since 2019, I have been tracking a very bearish and incomplete Elliott Wave pattern on crude weekly and monthly charts. We saw room for a decline down from $65-$70 resistance towards $20 per barrel as recovery from 2016 low has clearly been acting as a correction. A drop has come true much quicker than we thought which is a good thing as it means that new opportunities for investors may not be far away. We see a price decline to 1998 levels ideally with fifth wave that can be final part of a corrective A-B-C structure from 2008 highs. We have all needed sub-waves to complete this downtrend soon, the only thing that is still missing is a bounce in five waves on a lower time frame to confirm a potential reversal, even if just temporary. A rise in five waves back above $27 will indicate further upside, possibly towards the upper side of a trading channel, near $50.

Trade well,

Grega

Crude oil, monthly



Holiday Schedule And "World-Reset" That We Needed

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April 12 2020
 

Holidays (for those who are celebrating) are different this time due to global coronavirus lockdown. Plenty of people around the world are away from their families and friends, so its important to stay positive, patient and persistent, all for a better tomorrow.

Maybe, the world needed this slow-down, a World-reset is how I would call it. If I look back, everyone was in a hurry before, no-one didnt actually slow-down, look around and pay attention and appreciate the little things, which are actually the big things; such as love, time for others, time for ourselves. We were trapped in a daily routine of a fast life, full of material stuff and pushed away from real life because of social media.

We all have to realise that we dont need much for happiness; as long we have each other, the food on the table and health all is good. I can finally spend time with my kids, more than ever before. Its funny and sad at the same time, that we all live in same house and that something like coronavirus must happen to finally take time for our family, and not to be distracted by daily hectic pace of life.
I think that once coronavirus and lockdown will pass, we will look at the life from a different and much better perspective.

Stay safe

Grega

p.s. no market updates tomorrow, we will be back on Tuesday April 14th.

If you follow and like the analysis I share on this page, then consider to take advantage of a special 50% Discount on FX or Dig Cr. service at https://www.ew-forecast.com/register/



 

Inverted Head and Shoulder on USDCAD Indicates Further Gains Towards 1.51/1.53

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Mar 26 2020
 
Hello everyone.

USDCAD made an inverse head and shoulder formation from 2015 high, a powerful pattern, which can signal a new bullish recovery. We see a completed pattern at the 1.2955 level, from where bullish movement took over. The price also breached above the 1.3666 level, where a trend line is located, also known as a neckline. This breach is a confirmation that a bullish reversal is in full motion and can take price towards the price target at the 1.51/1.53 in weeks or months ahead

We realize that markets are very volatile and unstable these days. That is why we decided to give out a Special Discount to New and OLD members; Save 50% on Any FX or Digital Package.

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USDCAD, weekly



H&S pattern can sometimes go perfectly with Elliott Wave cycles. Well, on the 4h chart of USDCAD we see higher highs and higher swing lows with an extended structure in the middle so looks like an impulse is underway, ideally above 2016 high. If that’s the case that continuation of an uptrend can be coming soon as current reversal lower can wave four correction. Nice support comes in around 1.4 psychological level. If price can rally from here and break upper corrective channel line then watch out for 1.5 with upcoming fifth wave.

Also, when trading Lonnie watch crude oil prices as well. These are still in downtrend so CAD remains under pressure, but more about this one in one of our next articles.


USDCAD, 4h


Trade well,
Grega

@ewforecast
www.ew-forecast.com

 

BTCUSD Price Can Stabilize As Volatility Calms Down

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Mar 23 2020
 
Hey traders,

Today I will look at BTC volatility and compared it to similar developments back in 2018, when BTC bottomed once volatility slowed down. If that is the case then I think that start of April can be very interesting.

Check the video below!

We realize that markets are very volatile and unstable these days. That is why we decided to give out a Special Discount to New and OLD members; Save 50% on Any FX or Digital Package.

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Trade Well,
GH

BITCOIN; Buyers Are Waitting

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Mar 17 2020
 
Hello everyone,

Stock market decline pushed BTC and the whole Crypto market down due to panic and fear across the world. Very ugly and nasty move is visible through different assets, but it looks like an interesting decline that can even finish with a spike at the potential support if coronavirus will start slowing down. However, in case if situation worsens that we should be aware of even more weakness, and then we have to prepared on BTC to retest the 2018 lows.

Looking at the weekly BTCUSD chart, as our count #1, we are neutral and we are observing a big bullish triangle formation, where the recent three-wave A-B-C decline can be just as part of wave (C), so waves (D) and (E) yet to come. For a bullish triangle price needs to stay above 3000 invalidation level, and at the same time we need FIVE-WAVE recovery on a smaller time frame with a move back to $7k. So because that's not the case yet, we have to aware of another interpration; a flat correction where price is allowed to drop to $2000-$1000 support area.

Anyway, in both cases we believe that BTCUSD is in a big consolidation, and that sooner or later buyers will again show up, but maybe from lower prices. The most important is now to be patient and not rushing with any early buying idea. We think that even if market will bounce from here, there will still be a lot of opportunities ahead within ongoing move.


We realize that markets are very volatile and unstable these days. That’s why we decided to give out a Special Discount to New and OLD members; Save 50% on Any FX or Digital Package.

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Trade Well,
GH

BTCUSD COUNT #1


BTC COUNT #2




 

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