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EUIR/GBP Downward Channel

Daytrader21 Uaktualniono 10 Cze  w #Trader's blog #EUR/GBP #Elliott Wave #Downward Channel #Zig Zag Pattern #Pivot Points
Hi guys today I wanna share with you a trade pattern idea that I've posted in Technical Analysis Contest you can find the original post here: EUR/GBP Downward Channel
Since beginning of 2013 EUR/GBP has established an downward channel trading in an persistent bearish trend which has not found a bottom yet. Based on Elliott Wave count this is a bigger correction which is taking form of an double zig-zag pattern. Right now we're in the last stage of forming the last leg Y but we first we n…
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EUR/GBP Downword Channel

Daytrader21 Przesłano 15 Maj jako Analiza EUR/GBP, Cel: 0.8110, Data: 1 z Lipiec, 12:00 GMT  w #Technical analysis #EUR/GBP #Elliott Wave #Channel #Zig Zag Pattern #Pivot Points
Since beginning of 2013 EUR/GBP has established an downward channel trading in an persistent bearish trend which has not found a bottom yet. Based on Elliott Wave count this is a bigger correction which is taking form of an double zig-zag pattern. Right now we're in the last stage of forming the last leg Y but we first we need a 3 wave movement(see red line Figure 1). We need a last rally towards the upper border of trading channel to form wave B and next another swing low below the 0.8100 level…
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Daytrader21 24 Maj

Update 1: It seems we;re already heading lower and we also have hit our target. Wave A of Y is overextending to the downside where wave A is compose of 3 corrective wave abc, with a=c. so we should see now price heading back up towards the high of wave b at 0.8200 round number

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Daytrader21 9 Cze

Update 2: It seems that we may be developing a 5 wave move to the downside so this suggest we should see further downside movement and we should re-count the waves. Next support is at 0.8300 big round number which should provide some bounce until than we're stuck in a range between 0.8150-0.8080

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Daytrader21 18 Cze

Update 3: Wave C is take shape of an 3 wave down movement and we have already reached the target of this wave based on Elliott wave projections 0.8000 should act now as support and we should see momentum start picking up. There is not much resistance under way not until 0.8080 so it should be a smooth move.

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Daytrader21 22 Cze

Update 4: We have not yet seen a break of the 0.8000 big round number but we have already hit that level for too many days and which suggest that soon this level may be broken.There is not much resistance under way not until 0.8080 so it should be a smooth move.

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Daytrader21 28 Cze

Update 5: Although we have broke above round number 0.8000 we're still having some difficulties to push up and this may cause to miss our target. However next week momentum should start picking up 

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