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

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Thursday, 29 October 2015

EUR/USD H1 Analysis









General overview for 29/10/2015: 
H4 and H1 time frame:
Please notice that current downward wave progression might be missing wave v blue to complete the cycle, but any breakout higher above the level of 1.1000 would partially decrease the probability of the last push down and increase the probability of corrective re-bound to the upside. The first target is the level of 1.1096. Bullish divergence on H1 time frame supports the view.

Support/Resistnace:
1.0895 - Local Low
1.0995 - Intraday Resistnace
1.1096 - Wave 4 High

Trading recommendations:
Yesterday the members of VIP SERVICE have closed the set of SELL NET orders with +904 pips of profit. Currently we are waiting to see if the market will behave according to wave scenarios and then we will trade accordingly.



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Thursday, 15 October 2015

GBP/USD H4 and Daily









General overview for 15/10/2015:
The recent Elliott wave development on daily and H4 time frame might suggest a more decisive and imminent bearish reversal is coming soon as the 1-2, 1-2 wave pattern is clearly visible on this two time frame charts. As long as the level of 1.5657 is not violated the odds for playing the downside are high, although there might be a one more marginal high made into the area of 1.5550 - 1.5570 and then reversal should happen. Any violation of the level of 1.5657 invalidates the bearish impulsive outlook.

Support/Resistnace:
1.5817 - Swing High
1.5657 - Green Impulsive Count Invalidation Zone
1.5550 - 1.5570 - Potential Reversal Zone
1.5532 - WR2
1.5441 - WR1
1.5286 - Weekly Pivot
1.5191 - WS1

Trading recommendations:
Sell orders for swingtraders should be considered from current price levels with SL above the level of 1.5657 and TP open for now.





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Wednesday, 7 October 2015

USD/RUR Daily









General overview for 07/10/2015:

The impulsive wave progression to the upside hasn't been completed yet as there is one more wave missing. The current structure looks like a Zig-Zag pattern in wave 4, which is a valid corrective pattern for this wave. However, the current corrective pattern might evolve into more complex and time consuming one, for example a triangle. Only a clear violation of the level of 56.565 will invalidate this count.

Support/Resistnace:
60 - 60.90 - Potential Reversal Zone

Trading recommendations:
Swingtraders should consider to open buy orders from PRZ between the levels of 60.00 - 60.90.

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Friday, 2 October 2015

USD/JPY H4


General overview for 02/10/2015:
 The big triangle labeled as wave 4 purple might be completed (h4 chart), but on lower time frames the recent decline ) does not look too much impulsively to me yet, so it the triangle might last a little big longer. The alternative count indicates that wave 4 purple is acctualy that small, you can not see it here and the whole impulsive structure had been completed already.

Support/Resistnace:
121.26 - Wave e Top | Invalidation Level|
121.22 - 50 SMA
121.44 - 100 SMA
120.36 - Weekly Pivot
119.49 - WS1

Trading recommendations:
Stop loss orders for sell positions should be placed above the level of 121.26.
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EDUCATIONAL MATERIALS, 
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