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Friday, 18 November 2016

GBP/USD H4 Analysis









General overview for 18/11/2016:

The complex and time-consuming corrective cycle in wave 4 might have been terminated at the level of 1.2672, just below the 50%Fibo level. Moreover, it looks like the market is making a Head&Sholuders pattern with a neck line just around 1.2400 level ( dashed blue line). If this scenario is true, then the key level would be the resistance at the level of 1.2510, because any break out higher would expose the recent high of the wave 4. Another important level is the gray rectangle are between 1.2306 - 1.2331. This is supply breakthrough zone and if broken, then the lows of the wave b will be tested soon.

Support/Resistance:

1.2940 - 1.2865 - 61% Fibo Zone
1.2846 - WR2
1.2730 - WR1
1.2672 - Wave 4 Top
1.2541 - Weekly Pivot
1.2509 - Key Level
1.2411 - WS1
1.2306 - 1.2331 - Supply Breakthrough Zone
1.2224 - WS2
1.2080 - Wave b Low

Trading recommendations:

Sell order should be opened only is the neck line is clearly violated and the level of 1.2509 is still providing the resistance. Otherwise staying aside and refraining from trading is a good choice*.

*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, 16 November 2016

EUR/USD Daily Analysis









General overview for 16/11/2016:

The alternative count of a big triangle in wave 4 turned out to be the correct one. Just before the US Presidential Campaign termination, the last wave of the triangle has been completed and since then the market  is declining towards the green trend line. The first wave of this decline, wave 1, is almost completed, so now it is time for an internal correction, wave 2. The projected target level for this wave is 1.0850, but if the correction ends sooner than expected, then the decline will be bigger.In order to invalidate this bearish scenario, the market would have to break out above the wave 4 top at the level of 1.1300.

Support/Resistance:
1.0709 - Intraday Support
1.0775 - Technical Resistance
1.0850 - Projected Target Level for Wave 2
1.1300 - Invalidation Level

Trading recommendations:
This might be the anticipated triangle break out, so only a sell orders should be considered*.

*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, 14 November 2016

SP500 Daily Analysis









General overview for 14/11/2016:

On the broad market index SP500 second wave correction ended at 2,027 points, thereby giving impetus for further growth. The first wave of growth, marked in green, has been completed and now the market is in a correction phase of internal wave 2. The target level for this correction is  this gap with the level of 2101 points, which is also the 50% Fibo retracement. After this adjustment further increases are expected. Cancellation of this scenario wave can occur only after level of technical support at 1,981 is clearly violated.

Support/Resistance:

2191 - All Time High
2172 - Local Resistance
2147 - Local Support
2133 - Weekly Pivot
2093 - 2101 - Projected Target Level fo Wave 2

Trading recommendations:

As long as the market stays above the level of 1981 (invalidation level), the trend is still up and long positions are preferred until proven otherwise*.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.



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