{lang: 'en-US'} September 2014 ~ ElliottFxTrader Blog

Join The Community

Search

Wednesday, 24 September 2014

Dax Futures Daily


General Overview for 24/09/2014:
On Daily time frame we can see the price has made a very deep retracement to 88.6%Fibo  in shape of a Triple Zig-Zag pattern wave (ii). We can see as well the Key Support and Resistance levels: only a valid breakout below one of this levels would indicate that our anticipations are confirmed: breakout below support at the level of 8899 means long term top is confirmed, and breakout above the resistance at the level of 10056 means the alternate count is in play and uptrend will continue. Trend change confirmation comes with the level of 8899 breakout.



Support/Resistance:
10056 - Key Resistance
9898 - 88%Fibo
9530 - Support
9367 - Support
9037 - Support
8899 - Key Support

Trading recommendaions:
There is still some degree of uncertainty regarding the corrective cycle completion, but any sell orders should have the SL above the level of 9898. Trend change confirmation comes with the level of 8899 breakout.





Saturday, 20 September 2014

GBP/USD M15

General Overview for 20/09/2014:
Short-term (h4 and h1):
The corrective cycle in wave 4 has hit 38%Fibo of the last swing and sharply reversed. The corrective cycle was a pattern of abc irregular flat, where wave c=161% of wave a. Now the impulsive decline is almost done and after the corrective cycle in wave ii this pair might continue the downtrend. Please notice this pair might be making a Head&Shoulders formation as well and that supports the view for more decline coming.






Thursday, 18 September 2014

EUR/USD H1

General Overview for 18/09/2014:
The impulsive wave progression is developing as anticipated some time ago. Currently it looks like after the extended fifth wave of a wave 3 green, it is a time for a corrective bounce in wave 4 green. The target levels for this correction are at the levels of 1.2972 - 12994 ( basically 1.3000 round number level) and if this one is broken and corrective cycle will become more complex - 1.3111.

Support/Resistance:
1.2819 - WS2
1.2833 - Swing Low
1.2906 - WS1
1.2944 - Weekly Pivot
1.2972 - 1.2994 - Demand Breakthrough Zone

Trading recommendations:
Please wait for the corrective cycle to complete and enter SELL orders in the direction of the trend of the larger degree.


★★★★★★★★★★★★★★★★★★★★★
IF YOU NEED MORE DETAILED ELLIOTT WAVE COUNTS, 
SIGNALS 
AND
EDUCATIONAL MATERIALS, 
THEN JOIN MY VIP SERVICE!



Wednesday, 17 September 2014

Gold Weekly


Just saying....



Wednesday, 10 September 2014

AUD/USD H4

General overview for 10/09/2014:
Currently market is in a complex WXY corrective cycle that has not been finished yet as there are some downward sub-waves missing. Please notice that the price is below 100 and 200 WMA that confluence with wave 1 top and only a breakout higher is bullish.
H4 chart looks like unfinished double Zig-Zag structure inside of wave Y of more complex and time consuming corrective wave 2
Key short term level for bulls and if broken - first clue of bullishness increasing. The targets for wave 2 bottom are either on 50%Fibo, or, more possibly, on 61%Fibo. From this two levels the failure and rebound should be expected.
ANY BREAKOUT BELOW THE LEVEL OF 0.8547 INVALIDATES BULLISH IMPULSIVE COUNT!!!

Support/Resistance:
0.8981 - 61%Fibo
0.9081 - 50%Fibo
0.9111 - Swing Low
0.9151 - WS3
0.9210 - WS2

Trading recommendations:
Not really a good place to either enter short or long positions as R/R ratio is not attractive at the moment. Refrain from trading until more clear structure will occur.


Tuesday, 9 September 2014

GBP/USD H1

General overview for 09/09/2014:

The pair is in clear DOWNTREND as it has been signaled last time and  the reversal has been expected many weeks before it had happened. The 55DMA is crossing below 200DMA and this is another indication that supports this view.

The Elliott Wave count on larger time frame shows a high possibility of a multi-month decline in this pair due to an unfinished bearish cycle in wave C of the overall correction. This is why the current decline on smaller time frames is impulsive and its first wave down is slowly losing the momentum. This is why some sort of a inside sub corrective cycle in wave 4 black is expected currently with all the eyes on the level of 1.6232 - 1.6279. Only breakout higher is bullish.


Friday, 5 September 2014

EUR/USD Daily


Story of the EUR/USD in two charts.
Both chars were available in VIP SERVICE and appriopriate signals were issued.
Thank You.



Before:27/07/2014

After:05/09/2014


Thursday, 4 September 2014

USD/JPY H1,H4 and Daily


General overview for 04/09/2014:

There are two possible counts on Daily time frame that I'm following currently:
First count follows impulsive wave progression to the upside as the wave 2 in blue circle has been completed. The most important thing in this count is wave 1 itself as it looks to be in three waves only. This is why there is another alternate count, which tracks the progression of an ABC Irregular Flat corrective wave B only, and it looks like it is almost completed. That means the market can make one more wave to the downside, wave C, and this view is supported IF THE LEVEL OF 103.54 IS BROKEN! Otherwise we might have one more minor wave to the upside that targets the orange rectangle.

Support/Resistance:
105.30 - Swing High
105.24 - WR3
104.75 - WR2
104.53 - WR1
104.03 - Weekly Pivot

Trading recommendations:
The uptrend looks mature for now and some corrective cycle should be expected. As long as the elvel of 103.54 is not violated, buying the dips is advised.





 
Don't Forget To Join US Our Community
×
Widget