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Elliott wave Intra-day Updates: BTCUSD, Gold and Usdmxn

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Good day traders! Today, let's look at USDMXN, gold and BTCUSD. Let's start.

USDMXN is dropping, still in wave C) of 4, which can see support and a turning point higher around the Fibonacci ratios of 38.2 or 161.8. A rally in five waves would suggest more upside to follow into wave 5.

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usdmxn, 1h,

Gold is trading in a three-wave drop as part of wave d of a bigger elliott wave triangle correction. We currently see sub-wave b) in progress, that can search for resistance near the Fibonacci ratios of 50.0 or 61.8 and there make a reversal lower into final wave c) of d.

Gold, 1H

gold, intra..

BTCUSD is trading higher, unfolding a bigger bullish impulse with a clear structure. Currently we see price trading in a correction of wave 4, that has a possibility of becoming more complex, like a EW triangle correction. However, a break above the current swing high of wave 3 would suggest a completed wave 4 correction and wave 5 to be in progress towards the Fibonacci projection zone of 261.8.


btcusd, 1h.

Disclosure: Please be informed that information we provide is NOT atrading recommendation or investment advice. All our work is for educational purposes only.

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About the author

Grega Horvat



  • Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of, but before that he was working for Capital Forex Group and His feature articles have been published on:,, Action forex, Forex TV, Istockanalyst, ForexFactory,,, etc. He recently won the award on for Best Forex Analysis in 2016. At he helps clients and educate them about the Elliott wave prinicple 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.


  • 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!

Gregor Horvat
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