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Update II. EURUSD And GBPJPY Fell As Expected

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Aug 19 2018

Hello traders!

This month I have been talking and tracking EURUSD and GBPJPY a lot, and also made video analysis (CLICK HERE) and highlighted bearish patterns that I was observing. So far, market moved very nicely, into important levels so I decided to make a new video update.
 
GH

 
   

Ethereum Remains Bearish

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Aug 16 2018

Ethereum is coming sharply to the downside, making an impulsive decline from July highs which is not over yet. An impulse is a five wave structure, where third wave is normally the sharpest and longest and this is exactly what we can see down from 485 level. It's an extended decline in five legs that is moving into some interesting Fib. support extensions here around 220/260, where can be a new potential base for current blue wave three. Bounce into wave four may show up soon, and can stop at 318-345 resistance.

We understand that there are a lot of traders and investors waiting on bottom to form, but for now that's not the case yet so we have to respect what the market is doing. But we of-course would aggressively shift back to bullish mode once we see an impulse up from the low! This is key for any change in trend, in any market!


Digital Currency service
An advanced technical market analysis on BTCUSD, ETHUSD, LTCUSD, BCHUSD, XRPUSD plus some others ALT coins



 
 

EURUSD and GBPJPY Can Be Headed Much Lower

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Aug 06 2018

I am back from a  two week vacation when I left you with some of my views on EURUSD and then also GBPJPY. So here is a short update on these markets in video format.

Trade well,
GH

 

GBPJPY May Fall IN Risk-Off Mode

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July 31 2018

Traders, good morning with a quick outlook from vacation. I am in Bale/Valle with my family, having a great time in mobile house, but like every year its very difficult not to look at the market price action. So after a quick look at quotes I noticed interesting potential risk-off developments on S&P500 Futures where I see five wave fall on intraday chart, which means more downside may come soon. If that's the case then in risk-off mode we may expect strong JPY. I am looking at GBPJPY for a pullback after that nice drop from wave C highs that suggests a completed wave four of a higher degree.

Trade well,
GH

 





Bullish triangle on USDJPY Points higher

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July 25 2018

Hello traders,

USDJPY is trading quite choppy and overlapping for some time now, 3-4 years to be more accurate which gives us an idea of a bullish triangle to be in play within wave B). In this case we see price unfolding legs D and E of this triangle, and once final leg E fully shows up.. a new bullish continuation towards 125.00 and beyond may start to develop.

USDJPY, Weekly


Time for some Elliott wave theory:

A Triangle is a common 5-wave pattern labeled A-B-C-D-E that moves counter-trend and is corrective in nature. Triangles move within two channel lines drawn from waves A to C, and from waves B to D. A Triangle is either contracting or expanding depending on whether the channel lines are converging or expanding. Triangles are overlapping five wave affairs that subdivide 3-3-3-3-3.

Triangles can occur in wave 4, wave B, wave X position or in some very rare cases also in wave Y of a combination.




Consolidation Suggests Further Weakness For EURUSD

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July 20 2018

Hello traders,

If you are following me on twitter (gregahorvatfx) then you will know that I warned about possible sideways price action on EURUSD already a month back when EURUSD bears slowed down after unsuccessful break below the 1.1500 area. It appears to be a very strong level which after-all, will give way, sooner or later. The reason is a formation of the price, which looks like a triangle here on the 4h time frame. That’s a sideways price move in five waves where price moves between two contracting trendlines. Subwaves of that structure are labeled by A-B-C-D-E letters, so it takes sometime before it’s finished, and normally the breakout occurs when a lot of traders give up on their trading calls as they got stuck in the range.

As EW analyst I assume that breakout may occur as we approach end of the month, and normally breakout is expected after wave E which we already see it underway per recent price moves. If I am on the right track then keep an eye on resistance around 1.1720-1.1750. However, keep in mind that fall below wave d swing low will be needed to confirm a continuation of a big downtrend.
At the same time, I see current triangle as final piece of a head and shoulders pattern about I discussed in our video last Friday. You can see it below.

Trade well,
GH



July 13 2018 Video


Wave Pattern and Trade War Caused Drop On CNH and AUD

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Our Services             NEW!!Elliott Wave School

July 19 2018

Trade war sent USDCNH into uptrend in the last few weeks with very strong reaction away from 6.223 which is a continuation of that uptrend that got underway in 2013. In fact a decline to 6.223 was overlapping and in seven swings so we see that as a completed correction which should be fully retraced when it’s done. And clearly this one appears to be finished as current bullish move looks impulsive so it can be underway above 2016 highs and maybe even up to 7.2 equality level.

If that is going to be the case then be aware of more Aussie weakness which I think can be underway back beneath 0.6800 level as recent corrective cycle above that 2000 trendline appears completed.

That been said I am definitely interested in Aussie shorts this summer!

Trade well,
GH

 




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