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Elliotwaveanalysis

BTC ELLIOT WAVE ANALYSISIn my evaluation of BTC using Elliott Wave analysis, I've observed that following its peak in 2021, BTC underwent a significant correction on a larger timeframe. This correction could manifest as either a flat corrective pattern or an extended wave B. Presently, we find ourselves within sub wave C of the overarching wave B, specifically in wave 4 of sub wave C. While I remain uncertain whether wave 4 has concluded, I anticipate its completion by the next week. If the market exhibits an upward movement during this period, it will signify the conclusion of wave 4, paving the way for the initiation of wave 5 targeting the ATH (All-Time High). I welcome and am open to any opinions or suggestions for refining this analysis.
BITSTAMP:BTCUSDLong
by thekidtrader11
$TSLA COMPLETE ELLIOT WAVE ANALYSIS According to the Elliott Wave theory, NASDAQ:TSLA has been following a corrective wave pattern (ABC) since its inception, reaching its peak during the 2021 bull run. Currently, NASDAQ:TSLA has completed both wave 1 and wave 2, entering the critical and highly impulsive wave 3 towards the downside of the Elliott Wave sequence. The fundamental outlook for NASDAQ:TSLA appears weakened due to intense competition in the market. In the long term, NASDAQ:TSLA is displaying a heavy bearish trend. While specific targets for the remaining waves are uncertain at this time, one thing is clear – NASDAQ:TSLA is not expected to surpass wave 2, which is positioned at $299.
NASDAQ:TSLAShort
by thekidtrader11
CCJ reached important macro-resistance zonePrice has reached an important macro resistance zone: 39.40-45.91-48, that coincides with 0.618% extension of wave I (2000 low - 2007 top time span) from wave II bottom (2020 lows). Monthly view This 0.618% extension aligns with standard 2.00% resistance of the fifth wave - wave (5) - of first impulsive structure (wave (1)-(5)) that started in March 2020. If price stays bellow the top boarder of the resistance zone (48), the structure is prone to the start of the possible multi-year correction to support zone: 20-12. I price will be able to move confidently above 48 and close above it on volume support for several session, than the proposed price structure needs to be revised. Next resistance zone in that case is close to 76-80 area. Breaking bellow 21ema with volume increase could be confirmation sign for the larger correction starting. This levels could be used by any shorts with 21 ema or prior (Feb 2021) left side pick at 44.81 as a covering guide (with resonable 2-3% latitude). Thank you for your attention!
NYSE:CCJShort
by artemfedorov
Palantir: Reverse Gear and next targets 🚴📉Analyzing Palantir Technologies from its count starting in December, 2022, we've seen the development of a 5-wave cycle, concluding with the overarching Wave (1). Currently in a Wave (2) correction, the complexity lies in an overshooting flat. A closer look reveals the start with a downward A using an overshooting flat, followed by a WXY towards an ABC correction for the overshooting Wave B. Now, a five-part correction downwards is expected for Wave 5/C/(2). Anticipated to fall between 50% and 78.6%, it must be below the Wave A, given the overshooting nature of Wave B. Consequently, our crucial buying zone is situated between $12.50 and $8.75. 🚀
PShort
by freeguy_by_wmc
USDJPY: Anticipating a bearish trend.Hello traders, The current situation in USDJPY pair is getting clearer. I expect a correction in the form of a zigzag, with wave b still in progress. However, wave b seems to be getting more complicated, possibly taking the shape of a converging horizontal triangle. To finish it, I need to see two more small waves, one going up and the other down. After that, the price is likely to go up again, forming wave c of the zigzag. At the same time, the completion of corrective wave (ii) suggests that the price might soon start a significant downward move. Given this, it's not advisable to open any trading positions until the correction is completed. Until then, I will remain on the sideline watching. Cheers and happy trading!
by Samuel124
1
ETH/USD: Liquidations Causing Drop To $2140 Cryptos are coming sharply lower, after the classical psychological pattern here. There were plenty of traders buying cryptos after ETF launch; and then there is another group that did not book on that big run ahead of the ETF announcement. All of those are now liquidating, making a decline strong and sharp. Looking at the ethereum, price is now now at 2140/70 area, but looks like impulse is in progress so more weakness is liekly coming after rallies. If that's really the case then wave four shoudl stay below $2413
BINANCE:ETHUSD
by ew-forecast
New Highs should make things clearer, but not Easier!It's been a while since I updated followers on the SP/ES. I recently moved my daughter to Spain after graduating from college...so my wife and I are really just getting used to an empty house. Nonetheless, let's get into it. First and foremost, the primary circle B wave will be taken off the chart, and that clears things up for us. Why does it clear things up? New Highs leaves up with no current down side set ups...so essentially we should get continuation higher in a completion of our Ending Diagonal. I want address a question several followers had previously asked and in doing so, should aid me in my communicating my forecast. Question: Why isn't this pattern off the October 2022 lows a leading diagonal in wave 1, versus wave 5 like you're counting it? Because this pattern overlapped as indicated on the chart it cannot be counted as an impulsive pattern. Sure price has moved higher and we're now at new all time highs. I am counting it as a motive wave, but as an Ending Diagonal. The argument seems academic at this point because price has retraced all the declines from January 2022. I continue to think there is merit in classifying the pattern correctly...but only the decline will prove me right or wrong. Additionally, some have argued with me for a year or more, that this move off the October 2022 could be a leading diagonal. I have shared my views on leading diagonals quite extensively. Many may disagree. I don't believe leading diagonals are a pattern. I will spare you the context again...but if you are interested, I suggest researching LD's. You'll find that the Elliott Wave community at large is wishy-washy on the subject. Nonetheless, if my analysis is correct and we are completing an ending diagonal, or about to, the price reversal will be swift. As of today, I am torn with this being the a-wave of a 3 wave 5 of V of (III) or all of 5. With so many of the key stocks I track that make up a large percentage of the index in their respective wave 5's. I think we'll find out soon enough.
SP:SPX
by maikisch
1
$NVDA COMPLETE ELLIOT WAVE ANALYSISI have identified all the wave counts visible on the weekly chart, and while they make sense to me, I acknowledge the possibility of errors, given my relatively new exposure to Elliott Wave analysis. It's evident that we are currently within wave B in the overarching wave count. Anticipating an elongated wave B due to various sub waves, my expectation is for wave B to reach the designated green pivot area before completing wave C well below the 2022 low.
NASDAQ:NVDA
by thekidtrader11
NASDAQ COMPLETE ELLIOT WAVE ANALYSISI have identified all the wave counts visible on the weekly chart, and while they make sense to me, I acknowledge the possibility of errors, given my relatively new exposure to Elliott Wave analysis. It's evident that we are currently within wave B in the overarching wave count. Anticipating an extended wave B due to various sub waves I have listed; my expectation is for wave B to reach the designated green pivot area before completing wave C well below the 2022 low.
CME_MINI:NQ1!Long
by thekidtrader11
FTT UPDATE 18jan24well hi there my greedy friendz! just quick update and idea in general, I watched the cartoon Gintama (I love anime, yeah) and glanced at the FTT chart and, as in Japanese animation, saw an interesting twist: FIRSTLY, adhering to the old plan, we are in the Wave B of ABC correction and its a Mr.T, az I can see at MACD and RSI indicatosz behavior. Now Mr.T. is being formed with an exit upwards, after which we will go down to buy zone (preferably) SECONDLY as a backup plan, the correction could have already been completed and we are growing upwards through the Zigzags of the Leadin' diagonal (no matter ZZ or DZZ) - and its BAAAD COZ I WAS THE GREEDIEST PERSON I ADMIT AAAGGGHHH - my entry iz about 3.5 damn it!!! breathing heavily THERE IZ A THIRD OPTION actually - look clearly and boost if u find it so, well, as Elliot bequeathed, don't wishful thinking, analyze the structure- that's what I'm going to do. Orange color - ALT count. Ideaz are clear, will see what will be next, untill then TAP DA BUTTON if u UNDERSTAND what I mean or spare some coin in signature if u don't :) - I will eat at least
Long
by zikkuratt
17
IOT: Next true market leader? Company possess good internal qualities to qualify for TML (true market leader) characteristics and to be among performing stocks in new bull market (if we see one in coming year(s)). Among these qualities are: 1. Increasing triple digit earnings growth last two quarters in a row; 2. Consistent double digit sales growth 4 qrt in a row; 3. Analyst covering the coming are expecting it to become profitable from 2024, thus good rising eps targets; 4. Number of institutional sponsorship is increasing 4 qrt in a row; 5. Management owns 5% of the company; 6. Company is in top group and sector (IBD ranking). Chart is also showing signs of institutional accumulation is under the hood with strong weekly closes on volume pick up. Structurally speaking, we may see first impulsive wave structure - waves (1)-(5) - with double bottom corrective structure - wave (2) - are in place. In this structure holds true, price needs to stay above local Jan low and move confidently to next mid-term resistance zone of 41-48. Clearing 48 border will open the door for the path of least resistance towards next macro targets: 78-108, 130-176 and 213-290 areas. Wishing you profitable 2024 and thank you for your attention!
NYSE:IOTLong
by artemfedorov
USDJPY : Trend is bullish above 129.60As we can see from the chart above, the previously shared analysis hasn't changed (see chart below). From a technical point of view, we have considered the idea of a potential bullish swing developed with at least 3 legs, such as ABC for example )without excluding an impulsive structure 12345 with Target above the previous Top). Now, instead of following the pair on the weekly chart as we did previously, let's try to show the first 2 potential Target Areas: - 140.00 (Target 1) - 143.00 (Target 2) Having said that, the support still remains at 129.67 and as long as Price Action remains above, trend on daily chart is bullish. Having said that, the support still remains at 129.67 and as long as Price Action remains above, trend on daily chart is bullish. At the same time, we can follow the pair on intraday chart too, looking for closer supports that could anticipate the potential Bullish Pattern failure. ANALYSIS ON WEEKLY CHART: (Click & Play on Chart below) Trade with care! Like if my analysis is useful. Cheers!
Long
by TheAnonymousBanker
25
IDBI can give a good run from here.The stock was seen rising in an impulsive 'wave I' structure between March-Sep 2023. Wave II happened between Sep-Nov and wave II managed to retrace 38.2% of wave I. The stock since completing the wave II correction in Nov has displayed two impulsive waves making the labelling as I-II-i-ii-i-ii and hence creating room for many legs to unfold going down the months in 2024. The bigger Wave III target is projected to be around INR 100 mark providing an upside potential of around 50% from CMP. On the downside, INR 64 can be used as a 'SL'.
NSE:IDBILong
by neeraj_2_sharma
7
Good Setup spotted in Burger King India!"Restaurant Brands Asia Limited" earlier known as "Burger King India" is currently showing a good setup and an upside potential of 45% from CMP. The stock had rallied nearly 60% between March-Sep 2023. This very rise was impulsive in nature and therefore labeled as wave 1 on the chart. Between Sep-Dec the stock went through a triple three correction(WXYXZ) and retraced nearly 50% of the impulse. This retracement was in fact was the wave 2. The stock currently is in Wave 3 structure and could rally towards INR 190 mark. On the downside the swing low of 118.1 becomes a crucial structural support for the stock and could be used as a "SL".
NSE:RBALong
by neeraj_2_sharma