{lang: 'en-US'} June 2015 ~ ElliottFxTrader Blog

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Thursday, 18 June 2015

EUR/USD H4









General overview for 18/06/2015 08:00 CET

It looks like the upside wave progression to complete the wave (c) of the bigger wave B purple hasn't been completed yet as the first target is at the level of 1.1547 (61%FiboExt + Measured Move), second target is at the level of 1.1765 (100%Fibo). Nevertheless, the overall picture is bearish and the downside wave progression will start sooner or later, we just need to wait for wave 4 pink to be completed.

Support/Resistance:
1.1547 - First Target Projection
1.1475 - 1.1531 - Supply Zone
1.1365 - WR1
1.1224 - Weekly Pivot
1.1205 - Wave (b) Support

Trading recommendations:
The sell orders should be still kept open as the overall technical picture is bearish and fundamental news are currently not in favor of strong Euro ( Grexit + possible FED rate hike this year).

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Tuesday, 9 June 2015

USD/JPY Weekly









General overview for 09/06/2015:

The larger time frame charts are close to reveal some of the possibilities soon as the market approaches important levels. There are two possible scenarios here: bullish and very bearish. The most important is to look at the levels to see which count will be invalidated soon, specially on daily time frame. Moreover, the building bearish divergence is suggesting a possible sell-off soon, but the degree of the cycle is yet unknown: it might be either the end of the whole cycle or just an internal sub - wave progression corrective leg down. Please notice , that first top confirmation comes with the level of 115.00 break out and of course channel break out as well. Without this kind of price action we can not be 100% sure that the long term top is in place.


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IF YOU WANT TO DOWNLOAD THE FREE MT4 INDICATOR THAT SHOWS THE POSITIONS OF THE OTHER TRADERS FROM AROUND THE WORLD (AS USED IN MY CHART) PLEASE CLICK HERE:
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IF YOU NEED MORE DETAILED ELLIOTT WAVE COUNTS, 
SIGNALS 
AND
EDUCATIONAL MATERIALS, 
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