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USDMXN Pausing A Bear Trend

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Sep 24 2020

Hello traders!

It appears that USDMXN completed a five-wave drop which started back in March. A reversal that we see right now, is actually not a big surprise if we consider that wave five came out of a triangle correction that was recongized in wave four. Keep in mind that triangle occurs prior to the final move within a higher degree trend, so that trust out of the contracting pattern is final within higher degree wave A. From that low price started to turn impulsively and it broke out of an Elliott wave channel, thus confirms a low in place for a bigger impulse. As such, we can expect that USDMXN makes a three-wave corrective recovery to accomplish a full eight wave cycle. Usually this whole corrective rise stops at price levels of a former wave four, at around 22.9/23.2 region, or it can also retrace the 61.8% of a previous decline. But lets keep in mind that in some rare occasions an A-B-C movement can also retrace 100% of an initial five wave drop. But what really matters is that when a three wave correction is completed, confirmed by a new impulsive sell-off, then a new opportunity will show up on the short side of this pair.

Be humble and trade smart!

USDMXN, daily


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GOLD Making A Corrective Setback

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Sep 23 2020

Hello traders!
Today we will talk about GOLD and its price action + wave structure from Elliott Wave perspective.

GOLD was sideways with a slow price action for the last couple of weeks, which we see it as part of a bearish triangle formation in wave B. However, we know that triangles cannot occur in wave 2 and this is the main reason why we think that GOLD is just in a higher degree A-B-C correction, where we are currently tracking the final wave C that can send the price down to projected support zone between 1820 - 1765 area.

Later, once an A-B-C correction unfolds, we will probably see price confirmation with strong and impulsive rebound, which will give us signal for a completed corrective decline, but until then, we have to expect more weakness.

Be humble and trade smart!

GOLD, 4h


 

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(HTUSD) An Ending Diagonal; A powerful Reversal Pattern

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Sep 22 2020

Hello traders!

In this analysis we will talk about ending diagonals a.k.a wedge patterns. The ending diagonal is a special type of wave that occurs in wave 5 of an impulse, or wave C of a correction. This wave often occurs when the preceding move of the trend has gone too far, too fast and has run out of steam. An ending diagonal pattern is a type of pattern that can occur at the completion of a strong move. It reflects a “calming” of the market sentiment such that price still moves generally in the direction of the larger move, but not strongly enough to produce an impulsive wave. The reason why they are so interesting is because they are indicating a reversal.

One of ending diagonals we recognized for our clients during some of our intraday updates was spotted on the Crypto market, on Huobi Token (HTUSD). As you can see, it occurred in wave »v« of a higher degree uptrend. It is also important to know that once ending diagonal are finished, we usually see a reversal back to the starting point of a that diagonal and if we also consider that after every five waves a three-wave a-b-c correction follows, then we can assume that Huobi Token can be headed back to previous wave »iv« and 4.0 – 3.5 support area, especially once current 4.2 swing is taken out.

 

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Triangle On GBPUSD Suggested Limited Upside

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Sep 17 2020

Hello traders,

Welcome to our new video analysis where I will talk about recent developments on cable and current bearish turn.

GH



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Elliott Wave Analysis For BTCUSD

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Sep 17 2020

Hello traders,

BTCUSD is coming higher, now very close to former swing low at 11150 so bearish impulse can be invalidated soon. That is why we adjusted the wave count, and are now looking for wave X rally, but still same bias; recovery is in three waves so bears are possible but only confirmed when trendline support of current upward channel is broken. If on the other hand, coin will continue to rise and break the trendline resistance with an impulsive recovery away from the low, then we will turn bullish again and look back towards August high.

It this development the most important is close observation of current bounce that should be key to identify whats next for BTC.

BTCUSD, 4h


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Breakout Of A Triangle On USDMXN

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Sep 15 2020

Hello traders,
In this analysis we will talk about a triangle pattern. Those who are familiar with them, will know that these are one of the most popular patterns. The reason why they are so interesting is because while they are unfolding, momentum is decreasing, volume is low, therefore everyone wants to catch the breakout, because we know that sooner or later every correction comes to an end. And very often moves out of a triangle are sharp and fast!

One of a triangles that we recently recognized was on USDMXN that we covered also back in August in this video https://youtu.be/OTK9dnmVg3I

What happened since then is a breakdown that can still continue towards the target. But if you dig deeper into the Elliott Wave triangles then you will know that a new reversal may show up in a few weeks, as this breakdown can be final leg withing a higher degree of a trend as I describe below.



However, not all of the triangles are easy to be recognized, and that is where Elliott Wave shows its strength. Theory suggests that triangles are formed by five waves, A-B-C-D-E, so if you know the wave principle and you see five sub-waves, then you can already be one step ahead of others because it indicates that potential breakout is coming. Another thing that is very important is that triangles occur within an ongoing uptrend, so you know in which direction the breakout is most likely going to happen.

Also, it is good to know in which position of an Elliott Wave cycle do triangles occur. It can occur in wave 4 of an impulsive structure, wave B, and in wave X. By understanding the Elliott Wave then you know that once a triangle is complete the market is very often going to make a final move within a higher degree of a trend. So, not only that you spot the direction of a breakout but also understand that after that breakout, the market can be in final part of a higher degree structure.

Triangle with Fibonacci application and guidelines.


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Bitcoin Is Consolidating At 10k Level; Breakdown Coming?

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Sep 02 2020

Hello traders!

The question is: Will bitcoin longs decrease even more and send price through 10k mark?

For my review please check the video below.

 
 

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