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Tuesday, 23 August 2016

GBP/USD H4 Analysis









General overview for 23/08/2016:
(the last analysis of this forex pair can be seen here)

There is no decisive move yet on this market in either direction, but the recent update in Elliott wave progression revealed a simple impulsive downward wave development possibility that will be valid until the level of 1.3377 is not clearly violated.  If this key level is however violated, then the next target for bulls will be the gap zone ( marked as the yellow rectangle) between the levels of 1.3483 - 1.3603. The longer term outlook remains BEARISH.

Support/Resistance:
1.2729 - WS2
1.2794 - Wave 1 Bottom
1.2905 - WS1
1.3047 - Weekly Pivot
1.3229 - WR1
1.3364 - WR2
1.3377 - Invalidation Level
1.3483 - 1.3603 - Gap

Trading recommendations:
As long as the price stays below the level of 1.3377 selling the rallies up is the way to trade in this market*.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. 



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Wednesday, 3 August 2016

GBP/USD H4 Analysis Update









General overview for 03/08/2016:
There are two scenarios that can help to determine when the wave (c) of wave 2 will terminate and the market reverses:
- Ending Diagonal Scenario - green arrows - the market will perform another wave up towards the level of 1.3609 and then reverses impulsively down
- Full Zig-Zag Scenario - green arrows - the market will burst through the yellow zone in impulsive fashion and try to hit the 50%Fibo at the level of 1.3907 before reversal will happen

Support/Resistance:
1.2793 - Technical Support
1.2975 - WS2
1.3125 - WS1
1.3208 - Weekly Pivot
1.3359 - WR1
1.3452 - WR2
1.3489 - 1.3609 - Yello Gap Zone
1.3645 - 38%Fibo
1.3907 - 50%Fibo

Trading recommendations:
There is still uncompleted wave progression to the downside and in the mid-term the market should return to the down trend as soon as the correction cycle is completed*.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. 



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Tuesday, 2 August 2016

EUR/USD H1 Analysis Update









General overview for 02/08/2016:

There are two possible Elliott wave scenarios regarding the upcoming termination of the counter- trend wave 2 and price reversal in order to return to the main trend (which is DOWNSIDE):
- Main Scenario - Green Arrows - indicates a possible congestion area in corrective sub-cycle in wave (iv) and then one more wave to the upside towards the level of 1.1254. The corrective structure, therefore, would be in  a shape of (a)(b)(c) Irregular Flat
- Alternative Scenario - Red Arrows - indicates a possible termination of an abc-x-abc double three upward wave progression when the level of 61%Fibo is hit.The reversal should happen in impulsive fashion and it should break out below the level of 1.1197 and 11.1154 like no tomorrow.

Resistance/Support:
1.1303 - WR1
1.1254 1.1228 - Fibo retracement zone
1.1216 - 161%Fibo Ext of the previous structure
1.1190 - Intraday Support
1.1154 - Intraday Support
1.1129 - Weekly Pivot
1.1060 - WS1

Trading recommendations:
Due to the fact that the higher time frame trend is still down and there are some indications that a corrective cycle might be completed, sell orders are preferred from the grey zone area with a rather tight SL*.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. 


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Monday, 1 August 2016

Crude Oil H4 Analysis









General overview for 01/08/2016:

The corrective cycle in wave 2 is getting more complex and time-consuming. The market had slipped below the 38%Fibo at the level of 41.86 and below the Schiff's modified pitchfork that ranges worked so well during the corrective cycle. Moreover, there is no sign of overbalance yet as the green corrective rectangle still has not been violated. The next projected target for wave c of wave Y is 50%Fibo at the level of 38.84.  The higher time frame outlook is more bullish than bearish due to impulsive recovery from mid- February lows at 25.21.

Support/Resistance:
38.15 - WS2
38.84 - 50%Fibo
39.49 - WS1
41.90 - Weekly Pivot
42.99 - Technical Resistance
43.25 - WR1
44.41 - Technical Resistance
45.75 - WR2
47.09 - WR3

Trading recommendations:
Sell orders should be in play, but only for intraday time frame as the market might be close to reversal when the wave 2 is terminated*.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. 


★★★★★★★★★★★★★★★★★★★★
SIGNALS , SOCIAL TRADING,EDUCATIONAL MATERIALS  AND MORE DETAILED ELLIOTT WAVE COUNTS ARE AVAILABLE FOR 
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IN MY VIP SERVICE!
Details here:



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