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Technical Analysis
Elliott Wave Analysis by EWF
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[QUOTE="Elliottwave-Forecast, post: 201835, member: 40858"] Hello fellow traders. Another instrument that has given us nice trading setup recently is EURUSD Forex Pair. In this technical article we’re going to take a look at the past charts of $EURUSD presented in members area of the of the Elliottwave-Forecast . EURUSD is showing bearish impulsive sequences in the cycle from the May peak. We got a short term recovery wave 4 that has given us opportunity to enter short trades again. In further text we’re going to explain the forecast and trading strategy. [HEADING=3]EURUSD 1 Hour Elliott Wave Analysis 11[B].18.2021[/B][/HEADING] EURUSD is giving us 4 red recovery that is unfolding as Elliott Wave Zig Zag Pattern. It’s having ((a))((b)) ((c)) inner labeling. Recovery looks incomplete at the moment, suggesting more short term strength. The Forex Pair is looking for 1.1362-1.1406 area, to complete 4 red recovery. At the marked blue box area, we expect intraday sellers to appear and to pull price lower toward new lows or in 3 waves pull back alternatively. Invalidation level for the trade is break above 1.618 fib extension (1.14065). [I]You can learn more about Elliott WaveDouble Three and Zig Zag Patterns at our [B]Free Elliott Wave Educational Web Page[/B].[/I] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/EURUSD-11.18.-Blog.jpg'][IMG alt="EURUSD"]https://elliottwave-forecast.com/wp-content/uploads/2021/11/EURUSD-11.18.-Blog.jpg[/IMG][/URL] [HEADING=3]EURUSD 1 Hour Elliott Wave Analysis 11[B].20.2021[/B][/HEADING] Sellers appeared at the blue box and we got good reaction from there. The decline from the blue box unfolded as 5 waves and the price made break toward new lows. As a result short positions from the blue box are Risk Free and partial profit are taken. At this stage the pair remains bearish against the 1.3763 high . As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a reaction. Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the [B]Live Trading Room[/B]. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/EURUSD-11.20..jpg'][IMG alt="EURUSD"]https://elliottwave-forecast.com/wp-content/uploads/2021/11/EURUSD-11.20..jpg[/IMG][/URL] [B]Elliott Wave Forecast[/B] Source: [URL]https://elliottwave-forecast.com/trading/eurusd-elliott-wave-decline-selling/[/URL] [automerge]1637599880[/automerge] Snap Inc. is an American camera and social media company, founded on September 16, 2011, by Evan Spiegel, Bobby Murphy, and Reggie Brown based in Santa Monica, California. The company developed and maintained technological products and services, namely Snapchat, Spectacles, and Bitmoji. [HEADING=2][B]SNAP Daily Chart[/B][/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/SNAP20211121202950.png'][IMG alt="SNAP Daily Chart"]https://elliottwave-forecast.com/wp-content/uploads/2021/11/SNAP20211121202950.png[/IMG][/URL] The market cycle began on December 2018 when SNAP found support at $4.82 american dollars. The stock got a bullish momentum and built a motive wave ending near to $84.0, getting more than 900% of return in two and half years. The wave (1) of the impulse ended at $18.36. The pullback made an irregular flat completing at $7.89 as wave 2. Wave (3) started a powerful rally reaching $73.59 in less than a year. Wave (4) correction drop to 38.2% Fibonacci retracement from wave (2) at $47.92 and the last rally to complete wave (5) and the impulse wave ((1)) finished at $83.34. (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory). [B]Elliott Wave Theory Motive Wave Structure[/B] [IMG alt="Motive Wave"]https://elliottwave-forecast.com/wp-content/uploads/2021/11/Impulse-Graphic-1.jpg[/IMG] [HEADING=2][B]SNAP Correction and Target[/B][/HEADING] From the peak, SNAP already has 5 swings down and appears the structure is not finished yet to end wave (A). Therefore, we should see more downside in the next days. After completing this wave (A), we should bounce in at least 3 swings or 7 swings to correct the drop from the top and that movement we will call wave (B). Then we should resume the downtrend looking for another 5 swings down to repeat the fractal of wave (A), finishing an (A) (B) (C) correction as wave ((2)) and then the stock should find buyers for a new rally. We expect that this correction will end in $44.25 – $23.59 area and we are going to be updating to look for the best entry in this one. Source: [URL]https://elliottwave-forecast.com/stock-market/snap-closed-cycle-2018-correction-mode/[/URL] [/QUOTE]
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