Elliott Wave Analysis November 24 2015 GBPUSD GOLD

GBPUSD

On the 1h chart of GBPUSD, we see a leg from 1.5336 as an impulse that is part of a larger downtrend so we will continue to look down after a three wave bounce. We are waiting on that move which can be interesting for shorts, but rally up to around 1.5200 is needed for better entry with risk/reward trade.

GBPUSD, 1H

GOLD remains trapped in a sideways formation which is currently looking like a triangle, possibly in the final leg of a contracting range. We are tracking wave (e) that can move up to around 1080 from where we will look for a new turn to the downside.

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!

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