Elliott Wave Forex Weekly Outlook 6-10 August 2018
Good. Morning and welcome to this week's Elliott, Wave, Forex. And cryptocurrency analysis, webinar I hope you all had a wonderful week, right. So the market is setting up nicely they have in place that we've been running it's going great. All, right so, let's get started with this week's analysis. Just, apologies, for the alias that today. Actually. Not around, my, trading room today I have been traveling, this weekend so I'm doing this far from a single laptop so, that should not distract, us I should be still. Able to do this for the next hour and a half so. It's an amazing movie now we're gonna see a lot of clear, direction in this webinar today so stay tuned as it's. Going to be very interesting, I hope. You've been enjoying the witness the last couple of waiting penis alright. So but let's get started we firstly. Just don't forget if you're, watching the video for the first time go, to will, go to any of these videos. Open. Any of the videos if you're looking for a specific, pair you don't have another videos, in hour and a half and nobody wants to go through an hour and a half at once or you, just want a specific pair you go to, any of the videos on the description, you'll find a tab that says. Show. More and this is what this tab looks like so, the tab looks something like this is. Before. The comments. Let's. Just get that one right I need, to go to show less first, I. Said. The comments. Okay. Click on show more that's where you'll find it if you click show more then. You will find, all, the. Pairs that we are going to decide discuss. Here tonight this. Morning that we're gonna lie analyze this morning all of them time-stamped, makes, it very easy to look. At all these pairs, it's. Just good and click on any of them for example if I click on euro US dollar it, will take you straight to the euro US, dollar analysis, unfortunately, there are ads now but it will take you right, where. Euro JPY. Analysis, is that it makes, it a lot easier okay. So those. Who are interested in the course we've just completed our course about two, weeks ago and it was it's. Amazing, for the guys who attend, the course how, much, more, the east to learn other than just this will be less cuz some wonder, if there is any more to the Elliot wave theory than what I'm giving here what you are seeing here is only the, front, view of a very long process hey, you sing the front end of a very long process it's. Like it's, like a performance. Anybody who does any performance, as or anything on stage what, you see there is the final product, you don't know how much work goes in in the break ground and this. Is exactly what happens here there's a whole lot of work there's a whole lot of analysis, there's all a lot of levels that we don't discuss here so, that is something that we do during the course so you will not necessarily be. A pro, trader, just, looking at this will be nice yes they do give you a direction and they can assist you if you already have your own strategy, the ribbon, as may may, assist you so the next course is going to be on the 10th of September, actually. Starting with starting the next cause tomorrow, we. Starting the next cause tomorrow, which is the 6th of August, and if. You missed this one you can still join the one in September. So, the best thing about the course is you don't have to wait for September. Because the course, is also fully packaged, on videos, that's, over 20 hours worth, of video materials. That. Is a packaged, on there for, the course that you can start, watching as soon, as you signed, up for the course so that helps you to start, learning as soon as you join us so that's what you get you get that material and we give, you access to the premium group until you get to attend your live session, next. One which will be tomorrow, that we studying there no external tomorrow and after. That the next one is in September the course is five hundred and twenty nine US, dollars that, is a once-off Costa, and that is valid. Here you get access to our group for two years, ok so some some, asking what if after, two years I still wanna be in the groups and then my answer is if you still need me after two years then you did not learn properly, but, I've, never, had anybody who's, being who still who still needed, to learn more after two years some just want to stay, because. They, want to be in the community of Elliot waivers, ok so we've got a tour a group of 250. Elliot. Wave versed, that means 250. People, look at the market the same way so if you are in the group and you seen something different then we ask why and interrogated. There's nothing wrong we have having different, ideas. In.
That's Best that's what in. Promotes. Learning so that's that's how the course and the group, assists. You in your, the linning, so, that's all that's all about the course if you're interested rather just send me an email, you will get a respond, I've got an automated, email that, will, just send you a response, with all the details that you require for the cost that's if you're interested, in debt all, right so, let's get started with this as usually we'll start with a crate recap, so I don't know if this is gonna be nicely, set up I'm only gonna sell show. You the setups that. We've been running for the last couple of days that I've shown you a few, if. Even last week's am I still running so, let's have a look I'm gonna open my channel, this the channel this that platform, that we use for a premium group you can see that there is every, single pair listed, there that's. What you get if, you, needed an idea on any pair you, get it on any. Of these channels here, so. I need to go to my. Channel. Here so this just where, I put on the summary of the trades that we are running. Let's. Just go back here. So. You will only see the before, and, the. Before setups. Before, so. Let's go through that so. The one that I have here is actually. Very. Actually. A setup that was done in, May. Last. Year, as. It made okay my May last year this, was a pound, u.s. dollar you can see here pound usually if you go check your charts you'll see that we had this push but, it did not get to this level instead, it reversed. Here that's what we're anticipating the 30 was gonna push a little bit higher before, it reverses so it reversed, here and we have been trading that, from. This, level okay. Okay. So just looking at the texture right so that was the question so let's carry. On so this what happened here with this one just go check your chest this was the setup wanted it to come down and now we're coming down we're gonna update that, as we go on, so these how power. Here's dollar has played out since last year you can see that we tracked this this what happened came, and tagged even, though I didn't push higher like we wanted it to doesn't. Really change anything because we know that when, it reverses it gives you an opportunity to enter and that, is exactly where we entered and we're still running this and we're gonna update what's, going on with this with. When we start getting into the analysis, so here's just the trade recap. All. Right so that's, pound. U.s. dollar and here, you've got a pound, cat pound, cat is amazing, you'll, see when we do the analysis, on pound cat and pound OD so. You can see that all this one two three moves, we have traded to the upside and now we have reached. A full target here and last week I when, we did the analysis we had just been on the target and I said we're just gonna get a bounce here I expect this to continue okay. So there are a number of options. That you get when you're trading number, of alternatives, so what I give you here is my preferred.
Bias. Or my preferred, alternative and. If I've got more than one I'll tell you what wait for what confirmation, you need to watch, out for and if you know. Anything about the Elliot wave theory you'll be able to know which. One to go for so, having two alternatives, that does not mean you don't know the direction you. Just need to get, more information to, confirm all. Right so that's a the after, of pound. Head it is actually, now breaking. In a sectioning now starting to break here so as I said last week I said I expect this to carry on I don't expect a bounce here I don't expect this correction here because. You, will see why I don't expect that as we do, the analysis, okay. So this is your head. Now you see, here that's. The beauty of the Elliot wave theory you don't just focus to one move you trade a focused a number of moves you focused, into the future okay, so here we wanted to get this correction in a push higher into the blue box and you can see that right into the blue box we got all this move now we only hear a few pips before, these targets here and I similarly. With a powered, kid I'm not expecting, this one to bounce or reverse yeah I'm expecting, continuation. Okay, so that's how that one is going. So. We're gonna update that as we go and this is this now is gyro cap so this, was after you got the first drop and I updated that you're gonna get a bit of a move to the upside to. Properly move, to the downside so, that's what you get the benefit you get for being in a premium group you get these updates okay. So these are it's going this was last week actually now it's already here okay. So you can see how, accurate. That is even, if the market is not trending, as you wanted it to we. Are still able to trade these Corrections because we understand, how the market moves okay. So this is now a pound, JPY, okay, this movies already played out and you guys know that we are now trading this you'll see on the daily that we've got one two three moves, down okay, so this is the 4-hour you'll see on the daily I actually, sure that we wanted these to come all the way down that is what happened you got a push higher that is on the one-hour and now you're getting this push the downside this is now around this level and the initial, target should be here and this is the daily chart is a number, of tips to the downside if you've been watching this webinar so you should be you should be in in, a lot of money okay, so that's, what we do so what I do here is for, the for the guys in the program what, we do is we identify direction.
And Once you've got the direction you, don't look anywhere, else other than the direction of the trend so but the challenge is, mostly. Is to identify the, trend so you never go against the trend but what is the trend the trend goes, in the direction of the sequence and that's that's that's how we get this right you just so for example if you've got this one here what, you only going to do is every time you get a correction you keep selling that's what I've been saying for the last couple of days just keep selling this so, somebody, sent me a text on pound, CAD last week and they said pound, head looks, strong, or the pound looks strong so we don't we don't use such terms because they're very misleading things, like for. Example you're used to let's going up it's going down doesn't mean anything where is it going where's it coming from that's what you should we, should be we should be looking at so. You need to have specific, parameter, because those stems just excise, people, unnecessarily, alright. So now this is, you. Know US dollar you got you can just go check your chest this is how you know US dollar, I study US dollar JPY is playing up we wanted you to come down here you'll see even the last week's analysis, has played out to the people we, wanted these to bounce, back and it has passed and now we're gonna update from. From. What happened, here okay. So now let's go into the analysis, and that. Is just to show. You how, this, will be nice work and how you can benefit, from them because that, is the kind of accuracy that we getting so last week we as. Always we always start with the euro. US, dollar and, the US dollar currency index, correlation. And I spoke about the, seminar, that we did on market correlation, in our group last week that. Is so amazing so with. The similar. The main thing to take from away from the tech seminar was their strength of the correlation. Somehow. All these, pairs I mean they they, work and all, these currencies, they dispersed they are not isolated you. Cannot have a one. Currency, that is completely isolated from the market they're mostly, correlated. So the only difference will be the strength of the, correlation okay. So there, is a way to calculate that strength so that you can be able to. Use. Market, correlation, to assist you in your training and by, the way market, correlation, is an essential, part of trading. The ended wave theory, because, you need to be able to understand, that the market moves does not move in isolation, they move together alright, so I hope you can see this one clearly, so, I'm only going to update this last piece here on the daily on both you, guys know what is happening with these ones we're looking at a one because now we're looking at euro US dollar DXY. Correlation. So. You, guys know what is happening with this move we look at this as a one two three, and then we this is a possible, five here and then we can update why we were looking at it as a possible five so similarly here if they're one two three. Four, and a, possible five I'm. Saying a possible five because there's a chance that this is not a 5 by the 3 and we're still gonna get one push higher, or lower but let's update this and see how this is gone so last week I said when you look at correlation, the one pair can give you a better structure than, the other and if, we I'm just gonna zoom here on the daily. On. Both past. Bottom. Is the DXY. So. The DXY last week we, were looking at this one as a. Ending. Diagonal. Okay. Ending diagonal, like that see. Here you don't have a you don't necessarily have a clear structure on euro US dollar but you can see a clear ending diagonal, on the. Dollar, index so, last week we were here okay. We were right here and then we said we needed to get a push higher why I don't know why is I looking for a push higher because this, is your 3d is your form right and if this is your for your 5 could be ending in say diagonal so this is what your 5 could look like one, two. Three. Four. And then, the five fear, okay, so that's why we wanted you to push high and that is what happened, right, so euro US dollar I still, want you to go and look at the winner I did about three, four, weeks back as I think it's about three weeks back where. I showed you. Four. Similar. Patterns, on this page just scroll back on some of my webinars, and go straight to US dollar and check, for that because, what is playing out here is exactly, what we've analyzed I'm looking for these part in here to complete here and get, a bounce here in three waves before. We come down okay. Because that's what those structures, gave. Us but we need to look at it in detail we can I just look at this because, of a similar pattern it still needs to follow the sequence okay. So let's have a look here at how the sequence is going so, what I'm looking at here I'm looking at this one is a three wave move to the upside and we've got a one to three waves coming down I still, expect a little bit of a drop here and a, bit, of a move to the upside some, more maybe, even take this one here and if we take that one we're still gonna need to get one more down again, because.
Now What you gonna have is this one I. Need, to draw it clearly. It's. One. It's. One here, is. Thing is a 2 and in the 3 if that is the case what you're gonna have here is this, 1. 2. 3, and you're gonna have a complex. A complex, correction, like that so that would be the move that you'll be looking at and that, move is that we've, moved. To the up side before we, come down ok so this can still be a more. Sideways. Still. A bit of a drop, you can remember that I've been looking for these to bounce up from here but that doesn't change anything because, once, this structure, is completed, you know you're gonna get this move, because. The trend if you look on the daily or on the weekly that trend here is down now, if you just look at this perspective. Let, me just show you this perspective, and you tell me if this looks, like a market. That is going down so let's just look at euro, US dollar ok maybe I'll show you this one on us really just look at this this. Is a big drop to the downside why would you oh you think that this is gonna reverse all the way up so what we doing here is just wait for this, connection to complete, because when this connection, completes, we may get another move similar. To this all the way down ok, so that's what you waiting for and this is a daily move and that's over 5 600, pips that we're going to be looking at ok, so now the clear structure is with the DXY so let's look at this txy I shouldn't. Have taken it up so we need I'm gonna look at the DXY now before. We look at you really because that structure. Is very clear so, I'm gonna go back to one chat let's look at the DXY dollar. Index, it's. Good dollar index and see. Something very interesting on. The. Dollar, index, so. Watch, the dollar index and that diagonal. That we speaking, about here. That. Is your diagonal that is. Your diagonal so, far it is a textbook, diagonal. With the 1 2 3, as. To that in yellow. You've. Got one you've, got two internally. He's got 1 2 3 4 and this is your 5 internally, and what, you have here let's do this here it's gonna be 3 4. Looks. Like it's in the lower degree let's. Do that, one. Two three. You see that even, the passing waves are not first so we, are looking for, this one to complete, as a diagonal so this is possibly, a 1 a 2 a, 3 a, 4 and. Then we are going for a 5 year maybe, a push I that's what I'm saying, yours too let me push a little bit lower before, it reverses so if that is the case and this is the antenna. 1. 2 3 4 5 1 2 3. 4. 5.
Then, You're gonna expect that you get a correction. Like this. Okay. It. Corrects it like that and we've seen so many times before so this is still pushing up we, will expect that we're gonna push a little bit higher to the number, 5 so don't be surprised because this can actually push out of wave, 5 and give you a throw over so, that will not invalidate, the, push above this boundary. Here will not invalidate, this. Setup, okay, so that's what you're gonna be looking at so if will now go to the for our on the dollar index. So. You are getting a corrective, structure here so that shows you that you can I get some. Continuation. To the upside a little bit more okay. So you need to wait. For this to push a little bit higher okay, just for that boundary so I'm, not interested necessarily in buying this core sister I would be interested when this move stop, correcting, to the downside because it has already moved so, far okay. So, now let's look at our euro. US. Dollar, euro. US dollar is similar, so if you're just looking on the for our on euro US dollar you'll see that that is it is also correcting, right. Here. Showing. You that you're gonna have one more down and that will be this structure one two, three. A day okay. So very, interesting structure. That you're gonna be looking at so I'm still looking for, this even if it is even, if these text right. This, level here if. This, text this level right here that, would be fine okay, so, we're, gonna start watching these coming down here like that it may even come down with a V pattern before. We get it bounced that we're looking forward to the upside okay. So that's how we're looking at time you know US dollar and the dollar index. Okay, so let's carry on with the rest of the years till a pest they. Now so, clear, the. Direction. Is now very. Clear if you look at you you pound u.s. dollar. Okay. Pounding dollar, if you're looking on the 4:00 hour so that's the pay that I showed you on trade recap that we, focused that it's gonna break this job before. Coming down okay. So the crop has been broken and now we're coming down with this five. Wave moves and then we're looking at this one as a wave five. Or a diagonal ending, diagonal, okay. So, if, that is the case here on pound let's do it with straight lines show the diagonal, there. I'll. Show the drug and all in blue. Okay. So this what you're gonna have to see, that's the diagonal. Let's. Not force it straight freely probably. Screen, it out. So. Your diagonal looks, something, like this. Diagonal, on par so you're looking at this one as a 1, 2. 3 4, is it gonna drop, a little bit further down, okay, let me just do that with a clear, color, so you can see let's. Do it with yellow all right so you've got one two three four five fear. Three. Four. And we're looking at these two and with, a diagonal and this is how this diagonal. Is. Internally. One. Just. Excuse my mouse guys my now a mousepad is very slippery that's why so, we got one here you got two you. Got three we're. Looking this is a four and then we're looking at this one to, push lower for, a 5 so, 1 2 3 4, 5, ending diagonal, here after, that you can expect a three, wave bounce.
Correction. To correct all of this so you can see that from from. This top here there's never been any correction so we need a bigger one here like, that so you, will, expect that with. A move like this you must have a strong, strong divergence, I think I should have shown you that strong divisions on the dollar, index on the day I'll show you just now all right so let's see, if we've got that divergence. Here on. The pound yes we clearly, have the divergence, I should. Have shown you that divergence, on the DXY right, so you can clear divergence, you're getting higher highs higher highs, this, is making lower lows lower lows lower lows you see so, eventually, we're, gonna have so, this divergence does not mean a trend, reversal divergence. Just tells you that you can have a reaction so, the kind of reaction that you can get whether it's an impulsive move or a corrective move depends, on the sequence so divergence, just tells you watch, out you're about to get that reaction okay, so here we still expect in the next week that we get a feather drop to the bottom before, we get a three wave bounce. Even, off it may not even be this big but that's what we gonna be expecting, okay, and nothing nothing, disqualifies. This from going to retest this top here okay. But, we are not looking for that we just lookin for a three wave pounds and a, continuation, to, the downside okay. So. That's what you're gonna be looking at so just let me just go back to the DXY I should have shown you that clear. Divergence. On the DXY on the daily you. Cannot miss it, okay. So look out for, look. Out for this. Here. You can see that's a clear. Indication. That you are gone as much as this making higher highs it's. Making higher highs higher, highs. What. Is the, RSI, doing it's making lower lows it's. Making lower lows okay. So we making lower lows here on the RSI, so that's what you're gonna be look, at you've, got clear time visions so that's why I'm looking for this to, drop in, three waves to the downside like that okay. Obviously, that drop is not a trend, reversal is a correction, that is going to be correcting this whole move before, we get a move to the upside as, you've seen euro US dollar is still bearish. Medium. To long term so, that's that's that we should not miss that okay. So. Let's carry on with the rest of the past year let's look at years, - like it. Used. To like it so. You, used to like it. Let's. Get this one here if, you looking on the daily here. You've. Got this one went, made a three wave moved to the downside we'll. Just check out the chat box. Okay. Carries is saying can you get access to my channel this everything. That is on my channel so carries let's talk these about this in in the premium group okay, so everything that is in my channel is in trade setups I just copy trades from my setups and put it on my channel and just for the purpose of this webinar so there's nothing that is on my channel that you don't have access to okay. So that's. A premium group questions okay right, so let's let's carry on here so you asked you like it. Used. To like it is, come. Down in three waves. So. I'm expecting a bit of a bounce here, it. Bounced in three waves possibly, so let's have a look here on the Lord in the lower degree let's go for our.
That Is making a V pattern what, we like to call it V pattern our group this one so this pattern is telling you that you're gonna have a bit of a reaction here whether it's gonna be like something like this or, even retest, the top if you leave just the top then it's gonna change the structure and it's gonna make this one, give us another error another one to the upset but if it does not get to the top the, structure will be different, and it, will be just do this let, me get another three, wave to the to the down side and we, will still get a move to the upside you can see that this is correct if it's not going down at, this stage so. We need to get that bounce let's check here you are getting also clear, divergence. Okay. You're. Getting divergence, very clear so, that's such good I mean look out for a bounce okay we got for a bounce but I don't prefer to trade these bars or what I prefer is when, I get something like this when. I get something like this you keep selling, this remember we solve this when. It broke this drop here and now, we got that move it corrected, you soul again can, even have salt there after, it connected, and now you're getting this move so if you're in this trade you may want to exit and wait, for these to connect, like. That and then you're gonna get another entry okay, so, that's, how us to like Harris looks, at this stage, okay. So this may be a three wave move and that, would be all the correction of these all the correction then I'm gonna get the last one to the upset if I just go to the daily show you what I'm looking at. Daily. So. If you look on the daily this. Structure that we're looking at is similar, to this one here we're looking for a similar structures this one similar, structure this one I think I've shown you a trade on us. To like head that we took on this one forecasting. This whole complex, correction, from the start to the end and, eventually. Selling, it right onto the tip onto the tip if anybody's interested I'll show you again next. Week if I remember, so we are looking for a similar structure and we're looking for this, possibly. Here if I clear this to, possibly, be the last three we've moved on for, another one two three before we drop similarly. To what we have you one two three down and a one two three back, to the top break the top and come, straight. Down like that so that's what we're gonna be looking at giving. You this whole correction. Like this and then, we're gonna update and, see what, correction is playing out but, we know that if we get a cell, there, our next, target will be right, here about. 8,000. Keeps to the downside okay, so but all-in-all this. Whole thing, is a big, correction. This is a big correction. Here. It. Here is a big collection and, not even a triangle, not even a triangle, because, I'm not even looking at this as a triangle but I'm looking at this as a channel that will do something like this okay so. That's, how we're looking at euro, US. Dollar J us don't like it okay. Now, we look at us. July chief. Okay. So used to the chief only, Bailey. If. You remember, last week, we. Won with Chile sold here. Actually. Sold because we, had this collection playing, out like, this with focus to that correction, actually. Sold yeah sold. Yeah after the correction is completed, let's just, clean it so, we had this connection one two three, sold, here it's still on the daily you'll see a clear sell, setup on the four-hour when, we come down so, now it did not break down and, we, give us this move that we were looking for we're looking for this one here so, what, happens when something like that changes so that's why when, you trade you don't you should not have a bias okay. And when circumstances change, you must know why it's changing in what what, structure is making in this case here it looks like it wants to give us another one, two three to the upside so that's making this one a wxy.
Move Before. We get this, one to the downside. Before. We get one. To. The downside, like that, okay. Making, this whole single. Eleven, not eleven seven ching sequence. Okay. So that, will be our correction, and we're gonna be looking for upside. So why are we looking at this structure like this and we're looking for upset like that because, what, you guys see here is the end product but sometimes i do let you in on the. Long-term, view, and, the, long-term view i've been showing this from last year we've been looking, at this diagonal, from last year if you can see here alright, so this is the diagonal that we've been looking at so just clear this up so, what we are building here is a be wave of the. Fifth wave. In within the diagram so we had this one we're looking for this to correct and we're looking for this upset, so that's why you're looking at me, looking, for, casting these corrections because I know after this correction, we're gonna get moved to go and complete the diagonal after, the diagonal expected weakness to the downside okay, so what, you're seeing here is, the. Front. End of, a, very, long term. Analysis. We look at this from historical, data all the, way up to the, one hour or sometimes even the five minute time frame we look at the five minute time frame as well okay, so this could do, this if, it doesn't go up so just watch out can. Do this as you can see that this one came down collectively, so we can get that one and it, can still do give us a structure like this a structure, like this would be an even, better one because it, will give us it, it, will give us time to enter. Okay. So, that's what you're looking at on us, to achieve. Carry. On with the, rest now, howdy. Now. Something interesting with our D here, and. New. Zealand is that they've got the exact same structure, let's go for our. So. This. Let's. Take this off here this may be even making, a, triangle. Level. Look here just now. Yes. Fix this now. This. Could even be no, this. Is not the one that I was looking at so, what you're looking at here is this corrective, structure one and now. Within that correct after that corrective structure you getting one two or three waves down one, two three waves up and are, you getting this one two three. Waves so, you may get a bit of a push, I like. This and make, a structure like this okay. All, right so that's what you're gonna be looking at on this pair all. Right however, there, is a likelihood, that piece, is a triangle. And this. Is. Playing, out something like this. And. If. It is a triangle, nothing changes it it will still be a continuation, pattern to the downside, so. Keep an eye on this one so. If this is your triangle this would be your a this would be a b c d, a. B. C d e, to, the upside and then, continuation, to the down now to the downside and that, whole thing your whole correction, actually, will, be your. X wave so. You'll be looking at this one lesson a, the. Switch off here. A, b. C. D. E. Up. And then down okay. Right. For now you've got a three wave move down. You. May get just slightly up if, we come down so not tradable. Until the structure is complete wait, for the structure to complete and the new zealand is exactly the same. So. On the new zealand you're getting exactly the same you, getting this one that is possibly a one a b. C d, e. Before. You come down so that will look something like this.
If. This. Is a triangle. Okay. So. Understand. That, diagonal, is two different things so this, is a clear triangle, goes. Sideways, the. Triangle, has, got five waves and it. Goes sideways the diagonal is a motive, wave okay. So these are going to be looking at a b, c, d. E. See. How this goes, before. We drop okay. So. That's, what you're gonna be looking at so. This may both. You, know be, both outer years dollar and new. Zealand may, give, you these v patterns, while. The euro is giving, the last drop. Their. Out is giving the last drop you may be getting something like this a little bit of a drop before you get up and then, it down okay, so that's what you're gonna be looking at on both that's, new zealand so now look last i'll on the us develop s lastly will be us doulas are. So. Used to las are you looking at this one has. Made three waves down one. You've. Got one two. And now. This looks incomplete so. What you have here is this. Three wave stay. Expanding. Flat and here. You may be making, another one one two three. One. Two not. Like that so. Another three. Waves. No. No, you've. Got an expanding, a possible, expanding, flat pair like that and this. Is 1, this, is 2 this is 3 okay. And the last pattern could, could. Be a zig zag like that it can be any pattern okay, so if that is the case that means this is a whole correction, that is connection all of this move for, another, move to the upside okay, so not good news for the, Tsar. In the next couple of days we are busy connecting with the schools but, it is only for upside. Okay. So, keep it I so this may. Even be. Like. This. Okay. Maybe, a running fret like that but, still the structure will be the same and you'll still get that and upside. Okay. So that's usual asana let's go into, the, en Pierce we start with pound JPY. So. Pound JPY as. You've. Seen we, have traded, this move, from. Here. And. We traded it up, broke. There we were looking for it came down this the move that we're trading now okay. So, while it was making this expanding. Flat here there was no panic because you can see that there was no correction before this move so as much as it's going up you've got a nice entry point you're not worried about that we're coming down here now minimum. Target is this one that target can be broken and exceed exceeded, but we are not looking, for that we're gonna wait for another entry, after. This has come, down to this level okay, so either this level not because it's a support level actually, that level this level is insignificant so, we're looking for this to come down here, okay. So. Continuation. It. Has really gone so far it may be risky to keep selling here because we are close to this level okay. So after that level one two three one two three you, may be getting, a bit of a pulse to the upside okay. So again I'm gonna show you how, this, how. These pair moves and how it is so easy to trade it let's, look at it daily and look. At the whole structure I show, this every. Week so you can see why. We traded the way we do okay. So this is that's. The analysis, there let's have a look I think I should go to the four hour that's, where you'll, see the green, degree yes that's, it clinically. There. So. You see from the red W, here you've got one two three completing, the red one. Two one two. Extent. We've, got one two, three waves, here. In the green, one. Two three, completing, the red, let. Me not confuse you just follow the green now let's just follow the green we'll. Just follow the green that's one two three completing the red one, two, three, completing, the red just falling there right the green degree one, two, three, completing, the red one. Two, three, completing, the red degree one two, three, completing, the X degree I just, want to fix it. This, one comes down, as. You can see that. It's doing the same thing just making one two three waves so one. Two, three. Completing. Now this, red, degree that I have not put on as yet. Okay. All right so now we're looking for this one to drop, and give us W X Y X that to the downside so, that's why we look for this to come down and that will have completed, that. Whole move okay. So let's just get, this off so. That's what you're looking for so when, we traded this one it was before we're. Just looking for this to do another one two three so now you're looking for another one to, be completing the three see. All three, waves and now that structure, is now complete, and we're, gonna expect. Some kind of reaction. Because, you can see that this structure is not necessarily, going down with a strong move, it. Is corrective. Very easy to trade this so, now look out for, these to come back, to this level, because. At that level it may form a different structure a one two three up and one two I'm sorry a. One. Two three up one two, three down and it, pounds and. It down it. Does not have to give you this one it can go straight from here okay.
But Anticipate, this as well if it happens that's, why we tagged it here and we. Know that normally at these levels you will get a bit of a reaction or a connective, structure before you drop so, you that's why it is easy for us to exit the trade here and wait for to see what happens here okay. Right. In any, case this trade is running risk-free and profits. Locked after this correction, after this. Connection, profits, locked. Okay. Right. So that's Punch APY yes. Look at two years delay JPY, used. To like jqi playing out to the pip, said. Last week that you, get the drop you've got the drop here and you're getting this. Slowdown. Pattern here what, you're gonna have we expect X actually expected a three wave moves up one. Two three here so that that is still possible this. Three wave move to the upside is still possible, okay. So, we've, made this connection in we still this this push. Higher is still possible but you're gonna need to wait for this, flag. To complete here. You're. Gonna need to wait for confirmation here. Okay. One one two three here, this, correction look. To see if you can I get this push higher okay. But, this that. Can. Also just, continue, with a euro if we check last week the euro, US. Dollar and US, dollar JPY have been doing the same thing there's no, correlation okay. There was no invest correlation, they were going in the same direction okay. We know that she has dual our JPY and euro US dollar are supposed to be inversely correlated but, lastly they were moving together alright, so that is what affects the correlation, coefficient, okay, so there's still a possibility that this can do this move to the downside give. You a correction, give you this one give, you one two, three giving. You this whole thing as a correction, and a. Move to the upside I don't like it and I'll draw it with the same color like that you need to see it clearly so this would be one true, if this one drops here you have this correction here and that, correction will be a three wave structure like this okay. You just make it like that and this, is one, two. And then you expect another three we have to move to the downside and that, will give you something like this all right so that's why now I'm giving you two alternatives, yay that is a possibility. And this if you get a pulse up and a correction is also, a possibility. Okay, and that will not change the structure it will still be a corrective, structure for, upside and when we get that upside that will be the upside that you get on the euro US dollar okay. So, look. Out for those twelve two negatives on us, too like JPY pound, JPY. Pound. JPY I've already done this one, you. Know JPY so you'll see you know JPY and Punjab do I have got an exact same structure, so you keep, selling euro. US, dollar okay. At least, up to at. Least up to let's just check here. Tell. Me now at, least, up to the. 50% of this. Okay. Up. To the 50% of these you should get a reaction, remember, pound, JPY. Is already, come, approaching, here it's. Already approaching this level this does not have to do the same this one can come around this level and get, it bounce if pound JPY, is gonna get a bounce like that okay. So we're still dropping continuation. Excuse. Me to the downside, so, look out for any corrective structure for continuation. Like. That okay. That's your euro JPY. Chief. JPY. Chip-chip. JPY interesting, because you're getting a diagonal.
There. You've. Got a. Diagonal. See. Takes. Diagonal and, that. Is your. One. Two. Three. Four. Maybe, five and now are we dropping here already. I was, dropping here already for, a. A three wave move so, watch out for this one could, even come and take this level so if we get a correction here and you get out of this boundary take. Take, this cell take. This L on chief. JPY. Okay. It. Is, just confirmed. Right. So this is also already, confirmed, you may even take this one at market, open put, your stop-loss around. That level and take, it all the way down up, to that level, okay. So, that one has confirmed. But. It needs to get out of the boundary to confirm a heart of the diagonal. Okay. Not. The trendline the diagonal okay. All. Right let's, carry on, that's a she. Stay. Py. Right. So we've done with touch if JPY is it all the end pass or the worst lever howdy JPY. Howdy. JP you I look for continuation, to the downside. Okay. This. Is a corrective structure look, at for correction, at least minimum to this level okay, may, even drop, even further and give you this one two three, wave roof I'm anticipating that, it will give you a correction and you're gonna get this three we move to the downside okay. You just go daily and see what this one looks like on the daily. So. On the daily you've got a three, wave move up and. A. Three wave correction, and you getting another three wave move to, the upside but that one needs to drop a little bit first one. To this. One needs to do this first before it goes up okay. That's, why we're looking for this drop because. Of this. X. W. X Y. Move. Okay, so, if you look here in the lower degree you'll have the same thing here three waves within this one, one. Two three, one, two that's, what we'll expect that, we're going to get a three eventually. Here it's one two three one two three one two three okay easy now you're gonna expect a drop when that is completed, right. So let's just go into the lower timeframe one hour see. What you're getting there so, one hour you already gaining that benefit. Drop there it's. Not necessarily, a flag, so this, one is not a very good entry point, but. If you want to take a risk you can take it when, it opens with a stop loss above. This about. This connection okay. So I'm looking at the, as a. Passing. Move through the downside as a correction but there's still a possibility that this collection can do something like this before it drops okay. So that one I'm selling because it has made a three-way move to the upside like this it has made a clear one through three, waves to, the upside and after, that three waves it has dropped with an impulse, and that's, busy correct oh so this may be premature because, this correction can be something like this and. Then. We come all the way down to this level this level may, be coming like that and then, in a bit, of a drop before, we get that move to the upset that we're looking for, okay. Right. So that's way, too. Far. Ahead into the future. We've got enough data to see that this correction, is incomplete, we may do that do, that, drop. Down, up. Down. Before, we go up okay. So, keep an eye see. How it develops New, Zealand, should. Be similar right. So you've got it possible up here got. A person move down the last move was a person move tada so if you look at New, Zealand and how did this one has made this three wave move to the upside and that. One let's, just bring it together bring, it quickly so you can see the. Leading, and the legging of the, patterns. On. Correlation. So that is. Od on, the, Audi JPY on the left hand side and right. Hand, side we, put on New Zealand. I need, to, see the, 60 minute so. You can see what has happened here. Notice. Something here so, if you look here on the New Zealand watch. Scale. This off. If. You look on the news land you have one two three wave up but this one happened. Here one two three, and after, that happened it broke all the way down below. This pattern and I was busy collecting so this one has not broken down as yet so there is a likelihood that this, will, also do the same structure, break, down before, it reverses, up that's why I was analyzing like that drop. And then a reversal, because, this is already done that fairly, same structure but it's completed it in now reversing like that or either. One more done before you go but they will be correlated like this so this one needs to follow what this happened today okay. That's. All. The end pace are they, still kid, so. Cared let's go, back to one chart. Look. At the care we look on, daily. First. Cut. JPY. So. K JPY I wanted. To push a little, bit I, at. Least come and take this level possible, that it breaks it and then, come down similar. To what pounds. JPY euro, JPY, have. Done so a structure, like this break. And then come down so, keep, an eye here and see if we got continuation, but when it breaks up here expect, this move to the downside, okay.
So. Let's just go into the lower timeframe. So. Don't let these moves in this Candace. Confuse. You so this is a one-two-three. Move down one two, possible. That you're gonna get a push higher or if. Not, this is just going to give you this structure. Okay. And then, push to that level and we want it to go to okay. So wait for this corrective, structure to. Complete, and then you'll take this one to. The up side before it drops okay, so you can still trade up you can still trade down here very, clear if you go back to the daily show you so, this is the corrective structure that will take us up daily. And we. Will be looking to get here. Eventually, we'll. Be looking to get here okay, so these are Kendall this are today Kendall start looking down side in some may be saying, bullish engulfing okay there's not even a bullish engulfing here, so this can just be a corrective, structure that will take us back up here before, we drop okay. So, keep an eye on this structure don't sell the impulse system by the impulses. Wait. For them to, give. You clear structures. Right. So those are the yin Personalis, to silver. And gold. I. Start. With okay. The silver year where's my gold. You. I, need, to get a cold here it is. So. Gold I think. That's on the end pays for missed anything please let me know guys so, gold is very interesting, as I said I've been saying for the last couple, of weeks that cold, you keep selling when. He was building this correction. We said it's a correction it's coming down building, this one was connection, was coming down when I was building this one last week correction. Is coming down so gold. Every. Time it corrects, look, for it sir look. For sell all the, way up to this. Level we are looking for it to come down to this level okay. We're. Looking for it to come down to this level because we are looking at this move here one two. Three. Okay. And that, move is as a result of this one two. And, then. We possibly gonna get it bounced up today to the upside so, that, does not have to bounce there it may even come and retest, this previous. 2016. Low here, okay. And give. You this structure, so in, a way whether it can give you this structure or, this structure it does not make any difference so gold keep selling, gold to the downside same way you're, gonna keep selling euro, US dollar after, every. Bounce okay. And why are we doing that because long-term. View of cold is this. One, here I. Think. I've shown you this for this before let's. See if it's still there. Okay. Clear, one two three four five you had a diagonal there let's, clean, it up a bit. And. See it off okay. Let me just show it with our annotations, so it's not confusing one, two, three, four.
And Then ume of five with a diagonal day and, then. You get a p-wave. Move W. And you're getting these complex, correction, here. Lag. Piece. So. We've been looking for these to bounce here like that or if. It doesn't bounce it can give you this, one here and you, get that. Bounce are. On that level okay. So that's how that's how we when, you have caught the trend that's what I was saying when we start when you get that trend do not look any other direction other than the, direction of the trend and now any connection, here look. Out for the sequence we coming down, okay. We, coming down to that level all, right, so. Now those. Who trade support and resistance should. Ask themselves, why. This. Level was not respected, this, level was not respected, and why. This level will be respected, okay. So, that's because this, is a structural, level and this, is an insignificant level. Okay. It's, an insignificant level. So support, and resistance has got its flaws you. Need to understand what you're doing okay, so. That's what we only teach. In the course we can teach you and teach. You the right way all, right let's. Look. At silver now silver. Same, thing same, thing you're looking for corrective structure to the downside. So. Silver is, interesting. So. If. You look at the 2016, low. Okay. There's, a possibility, get to that level but for, now what we are looking at on silver is this structure. Expanding. Flat, it's, not even an expanding Fred is a running flat and we're, looking for this. Three. Wave structure there. This one here is one, two. Three here. And that. Tree should. Be almost the, same size as this one. So. If I check that. We. Will be expecting, silver, to end around. That. Will be incorrect. We will not be right let's, just clear all of that. So. The correct structure here, with silver, will be okay. This running flat will not will. Not make sense so. This is the structure on silver is what you're gonna have and you're gonna get this corrective. Structure here. Something. Like this so silver, can come down to this level and if it does can get you to just level and it. Will give you a similar. Structure as this, one here before. We get a bounce but, that bounce maybe, a a. Corrective. Bounce completing, that whole structure like this, one. Two. Three. And a move. Down okay. So for law you are busy with this sideways, move so. Wait, for it to complete. Short-term. Wait for this to give you debt. I'll. See. If. It's gonna give you that and then retest the 26, to the low like that and then. Then they will expect that bounce which will be this month completing. The correction, like that okay. So that's silver. Continuation. To the downside. In. The test this level or that level right. Now. Let's go to the power test. We. Were dump on US dollar Lestat with Paula chief. Let's. Go to the pound. You. Pound chief very. Easy. Punchy. Very easy you've got one two, and this one ended with that. V pattern then we've got one two three up one two three back one two three up and now you're looking for this to come down okay. So that's what we're looking at all along so look out for correct, comb continuation, to the downside so, pound you're looking for continuation, to the downside. Mostly, generally. On all, the pound pace okay, so this is the daily, are this a weekly let's go daily. Daily. Confirming, the same thing. Okay. So, we'll, look out for corrective. Structure to. The downside what you have here is a one and a. Correction here. Another. Entry here so one two three move to the downside okay.
So Minimum, around. This level okay. And see what reaction you get you possibly just get a three wave reaction for continuation, to the downside but that's what we're looking at on all upon pest line you'll see that very clearly when. Now when we do pound. Out a and pound ket all, right so now. If you, wanted to learn. Anything, about. Correlation. Leading, and leading legging, structures, watch. All the, videos from the beginning of this year where we have been looking at, the. Relationship. Between pound, head and pound howdy and I'm gonna do that just now and you will see how this is playing out okay. So let me bring pound, OD on the right hand side we do a pound out a and part head at the same time. Make. Both, daily. Charts, so. You see, how powerful this is and this what I have been forecasting. For. The, from. The beginning of this year. Okay. Now. Look at this. Let. Me see if I can get through scream let me make it full screen so we can see clearly here, that's. Much better yes so we can see it clearly I'm. Using a smaller screen here so I need to see this clearly now right. So the two pairs had, these, big, moves to, the downside. Similarly. Here you can't see it it, is here that is the big one for the downside but I'm gonna take. It off screen so okay, I think I can still put it on there now. You get this move to the downside. Also. Possible. Now. What happens is that this. One, completes. These three wave pounds like that 1 2 3. All. Right so, when it completes, that 3 we've moved up, to the dance to, the UH to. The upside, it, made, this move, to, the downside, let. Me see here there's something on the chat box. Okay. Somebody's, just greeting. So let's carry on. We. Made, this person, move like this a 3 wave move to the downside and, that, move even has a harmonic pattern, like this ok. This. Harmonic pattern and we traded this harmonic pattern to the upside and taking. It here okay. So now what is it what was happening this year this is what we've been looking at we've been trading, pound. Cat, this. Year just looking at what happened here because part carry was only making this move now 1 2 3. You see that part cat movies only happened. From. The beginning of, mid. Twas. The first half of this year now. After that you, see that after the 3 wave moves after. The 3 wave loose pound, out it dropped in a, three wave fashion now. This, is what we focus it from a right when we're still going up that we're gonna get a move similar to this now, we are dropping. How. Many moves how many waves are we dropping in we're dropping in 1 2 3. What did I say in last week when we were here I said, I don't expect a bounce here I expect, this to continue all, the way, down just like, that because, similar. To what and, similar. To what happened here. You. See what happened when it made that three wave bounce. Let's. Clear there this, side. When. It made this thing we've bounced yeah. Okay. My, mother's gesture. Okay. I'll continue this so, when this one here, made.
This, Three. Wave pounds we, trade, at this these that these, that correction that we traded there was I was showing you from the trade recap that we were looking for this to go up and then, come down but. We were doing that connection on the left hand side this correction up and, now, we're coming down, and we looking for these to come all the way like that okay. And we. Will look for reversal, around the 88%, area so, that we can get now again this move that has already played out on pound Oddie so. We can get this move now, so you see here we. Are just copying and pasting one has already happened it is so easy to trade now but. Only watch, all you need here is to get the timings right if, you get to the 88 the same way where we bought this one on the 88 and I remember buying this one during news events I think it was BOE interest rated announcement, we, bought it here on the 88, okay. So similarly, here you are dropping you, gonna be looking to buy around, the 88 okay. So that is the power of market, correlation, if you do not, understand. Market correlation, if you don't understand correlation, strength and correlation. Coefficient, you, will not be able, to make, money using the idiot wave strategy, okay. All, right so I see there's some of the chat box let me just say quickly I was. Just joined greeting hello John let's, carry on right, so let's exit the full screen here. Okay. So let's, carry on, that's pound Rd and pound cat very interesting, test so now let's carry on with the rest we've. Done pound chief found, out a pound New Zealand Lister pound New Zealand. Found. New Zealand, let's, go back to one chart now. So. Both, of them you are just looking for continuation, to the downside whether it's pound Audi or pound, pound. Cape so pound cat that's what you're looking for it you can see it has broken this low okay. Now why was this level not respected, if you're trading support, and resistance because it looks like a significant, level to me now, you'll ask yourself why is this one not gonna be respected, and why this one is gonna be respected. Okay. That's because it's a structural level. So let's look. At that look for continuation and pound howdy last week, last. Two weeks we're, looking for this one I actually wanted this one to bounce up one more because looking, with the naked eye this looked like a corrective, structure that, did not happen okay, then. You would, have lost who'll, have lost that trade to the upset so now what is happening here is when. That structure changed, we had a sell set up there that we discussed last week so let's go to the 4:00 hour and see.
That Setup. Okay. I do not I do not sell this because it was not clear for me I was. Actually looking for the whole thing to be a corrective, structure for, upside. Okay. So that's why I do not sell but we could see clearly that. Here. Is a corrective, structure and you're gonna get a move to that dancer. So this, this what happened after last week you, had this one breaking down here corrected, textbook, so, anybody. Who would have been interested would have been had, a nice entry, they put. A stop laughs just, above the flag but what happened was that that would have gone, and taken you. Out so. It's normal you would have lost this trade I've, lost this trait but, even. If you did lose the trade but were the last thing is that once, it does that it is giving you a clearer structure, now and one two, three wave, structure, and showing. Me more that, the correction, is completed, and now, you've got a clear downside, now, if you get a lower degree flag, like that right. Now you'll enter and target, the next row which, is around, here let's just go to that low and you, take it this low the. Previous low here. And, I'm. Expecting that this low here would be broken as well okay. So that's, how you're looking at this one pan dowdy and park it easy, pal, New Zealand, sorry. Okay. This is actually power, news lentils do always discussing not pound Rd so pound out is as seamless a similar structure here. Pulse. Trial upon tau d you innovate that similar, structure. Exactly. The same i7s. What happened on pound New Zealand that's what she would have had and. Then power New Zealand the same structure as well. So. Paul New Zealand or upon. New Zealand is even clearer, was even clearer so, you would have solved, this according to the strategy but, it would have taken you out when you did this ok, but that is a textbook, flat. Correction. Now look why do i why do I say it's a textbook, Fred correction it's a 1 2 3. Up so. When, you get a correction like this you typically, expect that it is completed and expect downside that's why I was expecting downside, ok, so, what, happens after that you get another three waves, move. Through the, downside after, that you get a passing 1 2 3 4 5 move to the upside and now you've got yourself a, nice regular.
Flat. Correction, after that you get a drop showing, you that that connection is done so, now you can look for continuation, on this, one here and possibly. Break. All the way down, back to this level ok. So that's how structure, changes, so, you will lose some, along. The way ok this is not a hundred percent it's not 100 percent ok the strategy, is solid, and it's 100 percent but, the thing is we, will make mistakes, like this. Okay. We'll make mistakes like this but the guys in the premium group know that, we've got a strategy to. Cater for in. Case more. Market, makes. These moves like this so, we anticipate these, patterns, but, for, this one specifically, it will not have given you an. Opportunity, to, put it to break, even, ok, right, so let's carry on with the rest of us partly slain what do you expect you expect a continuation to the dance and as I said the pound looks. Bearish. Over, wrong all. Right so now let's look to. The Europe, s, to. The Europe s now euro i ôd. Okay, yo D let's, look at the daily. If. You look on there let's. Go to the daily here. So. You know how d-day is a diagonal. That we're looking at here. So. Two things can happen here with this one let. Me get my annotation, tool here back on. You. My mouse is just a little bit jittery yeah so you've got this textbook, diagonal. Ending. Diagonal. That. Makes a a one two. Three. Four. Five and now, you're making this a and. I. Thought this was gonna make a B that retracts the top here like. That. And this, pushes up like that so, there is that possibility that, we're gonna push up like that and that becomes a be. Either. That or this is the B that is completed, and now, we're gonna retest, the low here okay. So either, way we're gonna have to see why this or, the structure gives us so let's look at the structure in, the four hour and see which one we are getting are we getting. Confirmation. For upside are we getting. Downside.
I'm Still, more inclined, to upside, because. Of this connective structure okay. This. Corrective, structure and I, will be looking for this one to complete. This. Is a channel coming down like that I'll be looking for this structure to complete okay. So. When. You look at a structure like this it looks very complex, and this is where some. Wavers. Ignore, the labeling or identification, of the structure you should not leave the identification, of the structure just because it looks complex, so, what you have you've got a three wave move down and you've got a three wave move up, one. So if you don't, label these things you will not understand, at the end of the sequence so, there's a possibility on the gyro here that this, could. Be the last move, to, the downside. Before. We get a bounce up. Like that, okay. So let's just draw this one clearly this will be in the same degree as this one let's, do that one in green so, you can see what. We're looking at so this will be a 1, 2 3, and then, this will be another 1 2, 3. So you see that's these are 2 this, is a flat connection in combination. With, another flat connection giving it this wxy. Structure, so, let's see, if this will, push even lower or if you're gonna get a bit of a bounce here for the move to the upside that we're looking at on your Audi, okay. So that's what you're gonna be looking at on your Audis, let's, look at the rest of the past you, look at very, simple, you. Just trade. It the same way as pound cat that's. The one I showed you on the trade recap that your next stop is yeah okay. Why, was this not respected, why was this not respected, why, was this not respected, that's, because when the market is on a pulse it, does not respect any zone. Other than the structure. Levels. And this is this next structural, level and I, will expect is similar to pound cat that these be broken as well without any bounce to, the upset so, just. Traded. Continue, continue. To the downsi