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Elliottwave Trading, Elliottwave Trading
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HTG
post Jan 9 2017, 02:53 PM
Post #1
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Joined: 3-January 17
Member No.: 29,757

Title: NZDUSD Jaunary 2017: Bear will take 6950 low.

Talking Point:

Technical Strategy: Bearish
Elliottwave View: Bear count confirmed

Analysis
From our last December's analysis on NZDUSD (New Zealand dollar vs US dollar), nothing much changed. We are on bear trend count and able to break and trade outside corrective channel. From last analysis and trade signal on which we earned +138 pips from shorting this pair @ 0.7035 and booked profit @ 0.6897 on cautious trade during holiday season. Same time, we were expected bounce from channel support which can be counted as a sub wave 4 or sub wave 2 of wave 3 of larger downtrend wave. During our today's review on count, we are on very much sync from our last analysis. We got a bounce and had a nice "Dark Cloud Cover" candlestick pattern. This pattern is also sync with our elliott wave view. This is good position to decide on trade and it's strategy to enter and exit from trade position.


Action

We re-initiated our short position with 0.6990 level and targeting below 0.6800.

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HTG
post May 26 2017, 06:57 AM
Post #2
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Group: Members
Posts: 4
Joined: 3-January 17
Member No.: 29,757

Talking Points:

EURGBP Technical Strategy: On break of trending line, it will be bullish else temporary bearish
Elliottwave Count: Correction is too short to mark complete, however price will take decision on trending line.

Analysis
EURGBP is trading in sideway and on weekly chart, it need to complete it's wave C (last leg of correction), however, same time price completed it's expected fibbo zone of 38.2% 8300 area with very unusual correction format. We need to respect price level at this moment but considering all possible count available on market, we are come with two highly possible count.

Scenario 1: Bullish view
If price is breaking trendline drawn 8850 to 8790, we are testing trendline, if price is break this resistance and able to close day above it, this will consider a bullish outlook and can be seen more upside towards 8952 and subsequent highs. We are considering those move as a impulse move and mark in green labels.

Scenario 2: Bearish outlook
We are expecting and having high probability of this outlook considering correction was unusual and require to complete it's last leg, we want to see false breakout, trendline resistance on 8700 area, post that, we are looking to see fallback to 8500, this view can bring price level to 8010 area. This view is also inline with our long term view on EURUSD.

Action
We are initiating short @ 8690 with stoploss on 8750 target 8010.

Disclosure: All analysis posted here is for educational purpose to understand elliottwave and trading principals. Authors is not providing any trading recommendation in this article. Trader need to take call based on his/her risk after taking consideration of your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose.Any opinions, news, research, analyses, prices, or other information contained on this article are provided as general market commentary, and do not constitute investment advice. Author is not liable for any loss or damage, including without limitation,
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HTG
post May 31 2017, 06:57 AM
Post #3
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Group: Members
Posts: 4
Joined: 3-January 17
Member No.: 29,757

Title: Silver Elliottwave Followup: Looking for 16.90


Talking Point:

Technical Strategy: Turning Bearish
Elliottwave View: Progressing reversal.

Analysis
Silver tested it's weekly trendline resistance after having triangle formation (flag pattern). Instrument is able to break it's temporary bullish line on hourly and 240 min charts and able to trade below. As we can see on chart, it got first support on 17.20 area post that it jump to test it's broken trendline and able to go back to 17.40 zone but failed to sustain those levels, this will be another point which making higher possibility of having reversal in place. We are seeing 16.90 as first target of this instrument.

Action
Shorted pair @ 17.44 with 18.00 stoploss. 1st Target will be 16.90.
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