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Monday, 21 September 2015

DAX H4









General overview for 21/09/2015:

The impulsive wave progression to the downside still hasn't completed yet as the market is currently making another leg down for wave (iii) purple. The target is below the wave iii low at the level of 9310, with first target projection at the level of 9145. Please notice that any breakout above the 10527 level is bullish and any breakout above the invalidation line at the level 11050 invalidates the impulsive wave progression to the downside.

Support/Resistance:
9145 - WS3
9310 - Local Low
9523 - WS2
9666 - WS1
10000 - Weekly Pivot
10148 - WR1
10480 - WR2
10527 - Technical Resistance
10668 - WR3
11050 - Invalidation Level

Trading recommendations:
There is still at least one more wave to the downside missing so sell orders are advised with SL above the 10530 level.

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Tuesday, 8 September 2015

Bitcoin Daily and Weekly









General overview for 08/09/2015:

The impulsive bubble - like structure to the upside had been completed last year with wave 5 black truncation to make the top for the big wave 1 at the level of $1075. Since then the market is moving gradually lower in very complex corrective cycle that is lasting quite long. Please notice there is unfilled gap between the levels of 295 - 322 and the market participants might now try to fill it completely. Moreover, just above the gap there is a clear long - term golden trend line and if this trend line is violated with daily or weekly close above it, then the market might try to follow up with the wave (C) blue to the upside targeting first the level of 455 and then maybe even the level of 677. New bull trend starts only if the level of 717 is clearly violated.

Support/Resistance:
171 - Swing Low
295 - 322 - Gap Zone
454 - Target Projection #1
677 - Target Projection #2

Trading recommendations:
Swingtraders should consider to open longer-term buy orders from current price levels with SL below the level of 170 and target at 295 - 322. Possible bullish breakout higher.

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Tuesday, 1 September 2015

Gold Monthly, Weekly and Daily









General overview for 01/09/2015: 

The very long term Elliott wave count for Gold with data since 1975 is indicating the recent top at the level of $1918 to be only wave 3 top, and the current corrective cycle - wave 4. Bearing this in mind there are two conclusions to withdraw:
- there is wave 5 missing, so there must be another higher high above the level of $1918 (unless there will be wave 5 truncation)
- the current cycle is wave 4 correction that is in last stages of making the Ending Diagonal pattern before it will shoots up
The invalidation line for the bullish count comes at the level of $1006 and if this will happen, then the top at the level of $1918 will be labeled as completed impulsive cycle of a very large degree and correction downward might still continue for years.
Another confirmation comes from Non-Linear Regression model, that shows flattering and an upward slope pointing higher.

Support/Resistance:
1006.00 - Invalidation Level
1049.91 - Projected Target For Wave 5
1170.33 - 61%Fibo

Trading recommendations:
The market might currently be in an accumulation cycle, which is why the correction is taking so much time. Nevertheless, there is still one small wave downward missing to complete the Ending Diagonal and then market should be ready to  continue the up trend.
So far there is NO VOLUME CONFIRMATION that the accumulation cycle is completed.

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