Monday, January 2, 2017

EURGBP classic bearish opportunity

Last year, 2016, was a successful year trading-wise. There were wins and loses as there would always be. But the wins outweighed the loses in number and in size. In spite of an average 61% wins (on 1:2 R/R), there were still mistakes made. The classic Elliott wave patterns, if well used with other tools, can produce more than 60% (human errors inclusive) on 1:2 R/R. That is our edge.

What to expect from us in 2017

We will make sure it's possible for you to track all our trade set-ups this year and also take advantage of them. You will also learn how to trade these set-ups to win in the long run. There will be trading lessons on Elliott wave, technical analysis, trade management, mentoring etc that will ensure that you will not only win at the end of 2017, but also learn skills to do it on your own.


Do we have the first trade set-up of the year?

EURGBP is our first trade set-up of the year. The rally in the last weeks of 2016 ensures the completion of  FLAT pattern wave iv.

EURGBP Elliott wave daily chart


The chart above shows that price is about completing the first leg (wave a) of what could be a Zigzag pattern after a long term impulse rally that was seen in most of 2016. Wave a is expected to complete the decline. Presently, having completed a Flat pattern as shown below, there is a high likelihood of a bearish move to 0.81-0.82.

EURGBP bearish opportunity?

EURGBP Elliott wave hourly chart

This Flat pattern will be violated if price rallies above 0.867 (stop loss). This is our first opportunity of the year and we gladly share with you. More to come as we ride the waves together in 2017.

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