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Surfing the Waves (Mar 09 2021 Video Update)

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Mar 09 2021

Hello traders,

Below is new video analysis, covering aussie, gold, copper, crude, usdcad, and usdjpy

GH


EUR/AUD: Corrections Are Opportunities

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Mar 08 2021

Hello Traders!
Today we are talking about a forex minor: EURAUD, which has been in downtrend for a while as commodity currencies will usually do much better in risk-on environment, and Aus-tralian dollar was no exception. Currency has been on the rise against the EUR since March of last yet. Pair lost more than 3000 pips after that spike high in March 2020 when we start-ed tracking bearish cycle and looked at each bounce as a correction on the way down.

One of those correction happened back in February that was also shared with our members. We sent an update on February 3rd when we were expecting a continuation to the downside because of an incomplete five-wave cycle (see schematic below).

Our analyst noted the following:

»...we can see an unfinished five-wave cycle, so it can push the price even lower within wave (5) that can stop anywhere in the 1.55 - 1.50 target area...«

EUR/AUD Feb 03 2021



As you can see from today’s chart below, the price stopped at 1.525 which would be predict-ed, as we did, by projecting the length of wave 1 to the end of wave 4 in order to look for equality of waves 1 and 5. As the Elliott Wave Theory teaches, equality of wave 1 and 5 is a common target and it was correct once again. The question is: what’s going to happen next? Well, we know that after a five-wave impulse, always comes a counter trend move in three waves which we, Elliott Wave Analysts, like to call ABC correction. As you can see from the chart, it looks like wave red (A) is already completed, meaning that wave (B) should be in progress and perhaps finished after a final moved down or might get quite tricky and per-haps shape in the form of a triangle. We are then expecting wave (C) which always unfold in five sub-waves and it’s usually quite clear to identify. We are then expecting some resistance around the 1.595 level where we may seem a reversal taking place and a further continua-tion to the downside, which will result as a great trading opportunity for the next weeks and months to come. Be humble and trade wisely!

Updated chart:


Basic Chart:

Faster Rising US and German Yields Causes A Drop On EURUSD

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Mar 08 2021

Hi traders,

I hope you had a nice weekend.

In this new video update, I want to look at US-German yields differential as this may suggests where the USD can be headed next. However, technically the DXY downtrend is not completely invalidated yet, so rather than shorting EURUSD , look at USDJPY instead where I see more upside after retracement.

Have a nice day.

GH



XMRUSD Monero May Face A Deeper Corrective Decline

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Mar 03 2021

Hello traders,

Today we will talk about cryptocurrencies, specifically XMRUSD Monero in which we see quite clear pattern. We will talk about its price action from technical point of view and wave structure from Elliott Wave perspective.

Well, if you are familiar with Elliott Wave , then you know that after every five waves, a three-wave pullback follows. And, as you can see, seems like Monero may have a completed 5th wave, especially if we consider strong and impulsive five-wave drop from the highs, which can be an indication for a deeper, higher degree A-B-C correction that can send the price back to the previous wave 4 and 120 support level .

Currently, it looks like it's just in a slow three-wave (A)-(B)-(C) corrective rally within wave B that can find the resistance ideally here around 240 - 260 zone and from where we should be aware of another sell-off for wave C.
Invalidation level is at 288 highs.




Surfing the Waves (Mar 02 2021 Video Update)

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Mar 03 2021

Hello traders,

Below is new video analysis, covering euro, aussie, crude, usdcad, and gold

GH


AUDUSD: Post-Recession Moves

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Mar 01 2021

Hello traders,

Here is just a quick look at the big picture of AUDUSD following recent reversal down. It's good to remind ourselves where the higher degree trend is. What really caught my attention was a three wave recovery after 2000 dotcom bubble, and 2008 financial crisis, so we can be now still in the middle of that similar recovery that is made by "reversal,pause and continuation".

GH




Surfing the Waves (Video Update)

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Feb 23 2021

Hello traders,

Below is new video analysis, covering euro, aussie, silver, crude oil and metals

GH


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