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Surfing the Waves (Video)

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Feb 02 2021

Hello traders,

Below is new video analysis, covering euro, cable, aussie, sp500 and crude oil

Grega

 

January-Feburary; Months For Reversals?

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Jan 29 2021

Stock market is quite volatile for the last few days and this can be in connection with GameStop and RobinHood which brings to the table some very important topics regarding regulations. As you know ratail-forum traders successfully fought the hedge fund which lost a lot of money as price of Gamestop shares increased significantly. Well, that's the market and how it function; price moves on supply and demand, and I dont see nothing wrong with that. But looks like the problem is when big players lose money, and they want to fix that. So the big players can trade how they want, only not to lose money but small people can't trade free but it's OK if they lose. BTW Enes called a nice fifth wave top at GME in our chat room, just before price came down back to the gap. BTW Enes called a nice fifth wave top at GME in our chat room, just before price came down back to the gap.
 


I also think that whole this situation, greed, FOMO and the latest events just telling us how late we can be in this stock market cycle. It's sound almost like mania that can potentially cause the opposite moves. It will be very interesting to see Weekly and Monthly closes today. Also, keeping eye on this SP500 wedge and DAX January/February reversals.

SP500,4H


DAX, MONTHLY

It’s Too Soon To Buy Gold - Elliott Wave Chart

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Jan 27 2021

Hello traders!

After recent strong and impulsive rally on gold, we can see it slowing down now since August 2020 high, but with slow and overlapping price action, so we think it's a corrective wave structure, seen as higher degree wave IV correction. Wave IV can be sometimes very complex, so at this stage we are observing two counts especially since the USD is trying to recover which may have bearish impact on metals as well.
In the first and primary chart below, we are tracking a bigger bullish triangle correction in wave IV), but only if the price stays slow and sideways until we see an A-B-C-D-E subwaves. This is possible if metal will keep chopping around between around 1850-1900. If not, and if bears will be in charge for the next few weeks with a potential retest of 1765 then secondary count comes in play, where we may see deeper and more complex 7-swing A-B-C-X-A-B-C correction. In such case 1700 can be very important level to watch for a next bounce.
So for now, gold remains very tricky, but what I like about the whole price action down from August highs is that in either case it's corrective, we just need more time now before we can decide what type of the patter wave four is forming., But eventually, price will be higher later this year.
If you are looking at gold in EUR, then you should also be aware of potential weakness as price can be breaking bearish flag.

Trade well!

XAUUSD 1 AND 2  


XAUEUR

 

Elliott Wave Video: Surfing The Waves

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Jan 26 2021

Hello traders,

Below is new video analysis, covering euro, pound, jpy, audusd and crude oil.

Grega

 

USDCAD And Crude Oil Can Resume Trends After Pullbacks

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Jan 25 2021

USDCAD is in a very strong downtrend which may see a new pause if we consider that pair can be now in fifth wave, final leg of an extended wave 3). Latest price action also looks like a wedge which is a reversal pattern, so it can signal for a new recovery soon; ideally back into a new fourth wave. If pair truly will recover then next resistance for a new sell-off can be at 1.2955 (Dec 2019 low), or 1.3000 psychological level. At the same time we must not forget on crude oil price that should stay in uptrend while the price is above the rising trendline, but even this one may face some bears as energy approaches 54.67 swing and Fibonacci resistance at $56.

GH

  



EURJPY Has Incomplete Retracement- Elliott Wave

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Jan 18 2021

Hello traders!

If you are familiar with EW, then you know that after every five waves, a three-wave corrective setback follows before we may see a trend continuation, in this case bullish one. And as you can see on the 4h chart below, EURJPY made nice and clean five-wave recovery from 121.60 lows which actually confirms a bullish trend. Well, after recent sharp and strong decline, it seems like it's trading now in an (A)-(B)-(C) correction that can send the price back to 124.55 – 123.85 support zone from where we can expect aanother resumption of an uptrend.

The main reason for JPY weakness in the upcoming weeks can be also USDJPY chart where price is trying to break out of a bigger daily wedge pattern that can be indicating the bottom and a bullish reversal in progress.
Trade well!
  



Bitcoin: Where Is The Support?-Video Analysis

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Jan 18 2021

Hi there!

New crypto video analysis is here, in which I will be talking about current pullback on bitcoin and some other ALT coins with room for deeper prices. I will also look at AMD and NVDIA stocks to figure out where are we headed and what this can mean for the cryptocurrencies.

Our 30% discount on yearly membership is still active, if you want to apply; plus you will receive a free EW educational videos.
APPLY HERE

Trade well!
GH

  

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