L_Brown

L_Brown

It’s been one-way traffic in BTC since Nov last year with very few good opportunities for bears to enter shorts or for weak longs to exit. It's possible that longs could be trapped in uncomfortable drawdown positions but there's hope for the bulls as the market gap from July 21 has now been filled with just a little more imbalance below. I see the following as...

L_Brown Updated 

We’re approaching an interesting area for BTC and if the crypto market responds to BTC in the same way that FX responds to DXY, we could be at an inflection for cryptos as well. The break of 40k in BTC was always going to be the signal to head towards 50-55k area and whilst I’m a long term bull, there are too many technical reasons for BTC to move lower at the...

L_Brown

AUDUSD Looking at AUDUSD, I can see 2 potential trade setups. Trade Setup 1: Elliott Wave Analysis It looks like we've seen the top of a potential leg one with a change in price structure (lower lows and lower highs). So we're now looking for entry at the end of leg two which usually comes back to 61.8% of Leg 1. Entry at 0.5920 area, with SL at 0.5860...

L_Brown Updated 

Looking at the longer term chart is essential when trying to identify key areas of price reversal. The fibonacci lines mark the Feb 17 Low to Mar 18 high and we see that the price is currently trapped between 76.4 and 78.6% retracement - a STRONG area of support. 1 day and 4 hour Stochastics also indicating that momentum is shifting to upside. My trade is...

L_Brown

Elliott Wave analysis is amazing for understanding WHERE we are in the trading lifecycle... and they are excellent for precise entries when used on the shorter time frame. Here we're looking at the WEEKLY chart which shows a very interesting correlation between Leg One and Leg Five of this move higher. We already know that the way to anticipate the expected...

L_Brown Updated 

Really clear Elliott Wave Pattern formed on the 1 hour chart in Cable. Wave 2 finished perfectly hit 76.4% retracement of Leg 1 and beautifully formed Doji candle! Clearly waiting now for leg 4 retracement to 1.2140 area and will take the offer for move to 1.2220 - 1.2240 area. Cable OBVIOUSLY in a longer term downtrend which I expect to continue so this idea...

L_Brown

We saw the impulse break of the YTD trendline yesterday (01 Aug 2019) in Brent Crude and are looking at retest right now at 62.20. This happened following a 12345 Elliott Wave move lower and an ABCDE correction. A move lower is the highest probability outcome from here and the $50 level is very possible if we break the $60 support. This could be traded from...