Eliotwave
RACEFI - next leg up soon?Will we see the next leg soon? Possibly, it might shoot up soon. Set alerts on it since SRSI has more space below... Rsi above level 60 still - bullish region.
Good luck traders
📉💥BTC Short-term Short Position💥📈BINANCE:BTCUSDT
COINBASE:BTCUSD
First take a look at my previous analysis and positions.
💥Channel break pattern💥
While price is inside the yellow area, you can open short position in two steps.
If the price falls and reaches the TP1, you can risk-free the position.
TP1-2-3-4-5-6-7 are on the chart.
The optimum stop-loss1-2 are on the determined area.
Please share ideas and leave a comment,
let me know what's your idea.
CrazyS✌
BTC EW correction analysis: Bear variantThis count presumes that the entire move to 69k was a B wave. Which would explain why there was such an unclear wave 1 in the previously named wave 5.
We should expect a counter-trend move heading to the 0.382 of wave 3 which would overthrow the A wave slightly.
BE AWARE OF THIS TRAP! After that we should proceed lower with very strong momentum to finish the wave 5. Note that there has not been an extension in the 3...!
TLDR
There's a strong possibility that we have a short bull trend breaking 25k high slightly before resuming down
Bull variant will follow soon.
NASDAQ INVESTORS IDEA FOR LONGINGThis is just a simple old way of trading with Pure Price Action. A long-term view of the Nasdaq. On a weekly time frame, it provides some interesting ideas for going long, let me start by stating that we are on an uptrend, and currently we just experiencing a retracement, a correctional wave. Some people explain it as a point where sellers are given an opportunity to close their loss cheap while on the other hand, it's providing an opportunity for banks that missed an entry earlier to start buying, or simply the ICT or SMC traders call it craping liquidity and triggering buy stops.
In pattern trading form we can say that we are having a flag pattern and the market is about to continue the trend. The move is about to start now, the reason being that we are having *equal lows* meaning we might be presented with a *double bottom* that will *break the trendline* and skyrocket 🚀🚀
Silver Market near to bottom Silver got off to a good start and built a clean 5-part move through September 12, where it closed the wave at $20,020 per ounce. Expected after wave is a correction between the 0.618 Fibonnaci retracement and the 0.887 Fibonacci retracement. This area, starting from 18.4$ has silver now expired and with the entry of the territory of the (i) now the alternative wave (iv) excluded.
Silver is expected to change trend direction in the pink trend reversal area and complete the , then continue to rise higher in a wave .
Netgas Future goes dooooown Although the fundamental data would actually point to a price increase, I still see a price drop of around 30% for net gas before the upward movement can be sustained.
We completed the overriding wave in June 2022 and have been in a correction since then. Wave b was overshooting, which indicates a flat correction.
Thus, we should still reach the 0.618 retracement of the overarching wave at $4.612 before moving back up.
AAPL outbreak Apple has now approached the wave 1 target area and is below the 0.618 retracement of wave (i). A turning point at $139.29 (0.786 retracement) is most likely. There, AAPL should complete wave (ii) and see values from $213.74 to $231.35 in wave (iii). So it looks very bullish for the largest company in the world and price increases of up to 50% could be possible.
Feel free to write me your thoughts on Apple!
paypal (pypl) on bullish trendPaypal (PYPL) shows a very clear picture in the chart structure. We have two possible scenarios here, whereby the alternative scenario only has a probability of 20% due to the sell-offs.
Thus, I assume that Paypal saw the low at $68 on June 29 and has been in a wave (1) since then, which was completed August 16. Since then, the stock has been building a clean a-b-c correction, where the c should bottom in the area between the 0.618 retracement ($81.36) and the 0.786 retracement ($75.52), and then sustainably rise in a wave (3).
Nifty wave 4 completed now heading towards 17928-As discussed yesterday Nifty confirmed wave 3 & today itself it gave retracement of wave 4
-From now on nifty at the time of closing Nifty gave very small bounce from 17779 which is where 38% level is
-We can assume that wave 4 is completed here & from tomorrow we are heading towards wave 5
-Target of wave 5 is 17919 also because our wave 3 was extended & wave 5 may get extended or not but it should atleast target high of wave 3
*If market breaks 17665 then this whole theory gets invalidated*
Yes bank breakout for 20 septKeep yes bank on radar tomorrow. The stock is preparing for a huge breakout with beautiful targets in 2 hour time frame.
Reasons for breakout -
1)Price is moving in a downward pennant traingle ,which is a good sign of breakout according to Elliot theory.
(Downward pennant always shoots price upward breaking lowest trendline resistance for a upmove
2) Price is preparing to finish its 4th wave of correction and setting for a huge 5th wave rally
I have shown possible targets according to Fibonacci numbers
- Confirm breaking of trendline resistance of the pennant before proceeding for trade decision.
Pennant should be broken either way in 2-3 candles
Silver Market (30m)The silver market is in a clean 5-part uptrend right now. The correction was completed cleanly between the 0.618 and 0.786 Fibonacci retracement and since then it has been impulsively moving upwards. The (iii) has captured the 2.618 Fib extension and then completed cleanly into the (iv) (around the 0.5 Fib). Now silver is in the ii of the (v) of the . If silver does not penetrate the area of the below 18.745, it can be assumed that the analysis is correct. If the price turns within 19.1 and 18.8 in the ii, we are in wave iii of the (v) of the .
I am eager to hear your ideas!
Elliott Wave View: S&P 500 E-Mini Futures (ES) Soon to End 5 WavShort term Elliott Wave view on S&P 500 E-mini Futures (ES) suggests pullback from 8.17.2022 high is in progress as a zigzag Elliott Wave structure. Down from 8.17.2022 high, wave A ended at 3903.50. Wave B rally is currently in progress to correct cycle from 8.17.2022 high before the Index turns lower. Internal subdivision of wave B is unfolding as an expanded Flat structure. Expanded flat is a 3-3-5 structure. Up from wave A low at 3903.50, wave (a) ended at 3974.25, wave (b) ended at 3955.25, and wave (c) ended at 4019.25. This completed wave ((a)) of the expanded flat.
Wave ((b)) pullback ended at 3883.72 also in 3 swing. Down from wave ((a)), wave (a) ended at 3906, wave (b) ended at 3911.75, and wave (c) ended at 3883.72. This completed wave ((b)) in higher degree. ES has rallied higher in wave ((c)) as 5 waves. Up from wave ((b)), wave (i) ended at 3996 and wave (ii) ended at 3942.75. Wave (iii) ended at 4143. Wave (iv) pullback is in progress and while pivot at 3883.72 stays intact, Index still can see 1 more push higher to end wave (v) of ((c)). This should complete wave B in higher degree and end correction to cycle from 8.17.2022 high before turning lower again.
Long term BTCFrom the high 69k to Covid crash using the Fibonacci Retracement tools we can see that we hit the 0.786 (~17.7K) and bounced.
If we use the Fibonacci levels on the waves up and down we can see some nice confluence in levels.
The first wave down from 69k to ~32.9k has a fib extension 1.618 that lines up with the 0.886 level.
10k-11k range, the strongest support we can get on BTC.
The first corrective wave i-ii fib extension was in confluence with the 0.786 level mentioned at the beginning.
Now we are in the iii-iv wave and I'm not expecting this to go above 32k-33k this should become resistance. And then the final wave down to ~11k should start. If we get there we should also see some bearish divergences on the MACD histogram.
A full reset to the 0.886.
Now technically we never closed below the previous cycle high weekly close.
Maybe this is not a 12345 Wave and this was a ABC correction. Then uptrend has resumed as the ABC finished.
Looking at the BLX at previous corrections we can clearly see some contraction. 93.7%, 86%, 84%, but are we stopping at 74% ?
A closer look
Is the correction finished?I think we are still in the possibility that this is all a triple correction and there is still a final drop according to Elliott.
And by psychological analysis, after the waves of large liquefaction, it is necessary to give an answer to the market to suspend the small fish. It is illogical for the price to flow with that nonsense to rise directly without noticing large volumes.
I have 3 possibilities to think of:
1- We will visit 18 thousand and we will go up because everyone will think that we are going down to 12 thousand, especially after the answer that the market has gained.
2- Not to stop within 18 thousand and penetrate it directly, I think because the price will not go down under 14 thousand, but the bottom cannot be expected before you saw the drop and its shape, so it remains talk.
3- This is a real bullishness and we missed the bottom. We are waiting for the end of wave 1 of the impulsive wave (I have not been able to draw any impulsive wave that supports this analysis).
Please let us know what you think and what you think