BTCPossible HTF count if conditions are met. Would be looking for the 3 to top before 1/2ing around SWB:69K
Elliottwaveprojection
Great opportunity for long term investors in BANK of AMERICAThe second largest American bank has been spotted at a 61.8% retracement of its impulse wave up in march 2020. Moreover the stock has completed an entire zig zag(according to Elliot wave theory or simply ABC correction) from 2021 till date.
The wave 3 target for the stock in the 3-5 year term turns out to be around $68.
Livent corporation Elliott wave projectionProjection based on Elliott wave theory, support and resistance as well as supply and demand.
Buy area is 14,3-15,7 with right price action on daily and weekly with target above all time high.
SPY 2 Bearish Scenarios
1. Less Bearish Scenario
We have a 1-2 1-2 with the impulse wave 3 down in progress or still to come.
The difference between the 2 scenarios is the higher timeframe.
In this less bearish scenario, this move down is part of the primary wave C in the correction that started Jan 22.
Once is done a new cycle will begin.
2. Bearish scenario
In the bearish scenario, this move down is part of the primary wave 3 and not wave C.
We are still in the 1-2 1-2 waves down with minor wave 3 yet to come. All of these waves are part of the primary wave 3 in the correction that started on January 22.
Are you berish? What other alternate scenarios do you see?
Legal Disclaimer: The information presented in this analysis is solely for informational and educational purpose and does not serve as financial advice.
Decision ZoneHello everyone;
PMI and ECB have interest rate decisions this week. Therefore, there will not be much volatility until this data. I don't have any predictions about this data yet. I will wait. However, in general, my goal will be as in the chart.
I have a total loss of -2rr from the transactions I shared last week. This week I will take my transactions again with a target of 5rr. Let's see what the result will be
Thx for your support :)
Good luck to everyone...
#BTC #BTCUSD #Bitcoin wave 5 #Elliottwave Long Setup 22Oct23This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
UPDATE: DOW JONES INDUSTRIAL (US30)Last time i expected 1 more high at 34000-34400 (as Ending Diagonal on C) to start downtrend, it failed.
This is my new perspective on Dow Jones (US30), i strongly believe there will be a bearish to come.
Kindly remember, Elliott Wave is highly subjective, i will post if there's a new update on my perspective.
Trade safe, Everyone!
Cheers.
A massive selldown is potentially coming for #SP500As the chart progresses, old post was shared wayback Dec 2022 when the index has completed the Wave A leading Diagonal, the 1st impulse of the 3-wave corrective of the bigger cycle.
Currently, Wave B might have already topped off on the rejected 4600 zone.
I'm seeing a potential 3rd and the last impulsive of the greater corrective cycle which is at an unbelievable level estimated to be around 3276 by May of 2024 as target of the time completion.
Disclaimer: Not a financial advise. Idea is only based from the analyst's perspective applying Wave and Time Theories.
BTCUSD: Road to 50k?The BTCUSD price has just completed wave 2 and is on course for a fine wave 3 (broken down into 5 orange sub-waves here), supported by a bullish divergence and the break above the weekly Ichimoku cloud.
Wave i could continue its ascent before hitting resistance at 32k.
Wave ii would then retrace 50% of wave i to bounce off the 2021 double-top support.
Wave iii (= 161.8% of wave i) would end at the 40k resistance, before bouncing back to this ascending trendline in blue as a wave iv, retracing 38.2% of wave iii.
Finally, wave v is still the most complicated to anticipate, but the 123.6% retracement of wave iv seems to be in line with the assumption that wave 3 will extend wave 1 by a ratio of 1.618:1.
Fundamentally, the current tense macroeconomic environment remains a danger for the BTC price. Not to mention the dollar rate, which could continue to rise in the event of a further rate hike at the next Fed meetings, particularly those on December 13th and January 31st.
To be continued...
Don't hesitate to comment. I'm open to new ideas, especially as the fractal plan always offers many different scenarios.
QSR Elliot Wave LongRestaurant Brands looks to be in an upward trend based on Elliot Wave analysis. I predict QSR to drop slightly at the market open tomorrow the continue its upward trend.
Quiet London sessionHello ladies and gentlemen;
Although today is not a holiday, we will enter the London session in the coming hours, where no data will be received. The most important data of the day will come at the beginning of the New York session. Considering the unemployment data that came 2 weeks ago, I expect today's data to be lower than expected.
According to the chart, I expect the retracement towards the 4h major OB to continue. I currently have a short position open and I reset the risk by placing a stop loss at the breakeven level. When you examine it, there is a slight risk of reaching that level and getting stopped, but I think this probability is very low. I think we will continue the day in a short direction after the correction of yesterday's downward movement is completed.
I will also share the other transaction I will receive today. I'm currently at -2rr for this week. I need to collect 7rr or more to reach my weekly goal.
If you like the posts, please don't forget to like and follow :)
Good luck
Mixed DayHello everyone;
Today, we will receive inflation data from the UK and the European Union in the London session. Inflation in the UK is still expected to remain high. However, things seem to be getting better in the European Union. Later, we will see construction data from the USA in the New York session. According to these data, the construction sector is expected to recover compared to the previous month.
Recently, I read a report about this situation and that representatives of the construction industry in the USA were negotiating to prevent interest rates from increasing further. That's why this data is of particular importance to me.
Above all, today there will be a visit from the US government regarding the Israeli-Palestinian conflict. I expect that with the latest developments, Israel will be forced into a ceasefire, even if it is a small one. In this case, we can see an appreciation in the USD index.
Today, since I said I would share my transactions throughout the week, I will write down the transactions I opened. I hope they are useful to you.
Remember that your support motivates me. Please like and subscribe for more sharing. It makes me so happy :)
Good luck...
The number 13 brings me good luckGreetings to everyone;
Finally, I saw that 13 people followed and to celebrate this, I decided to update the post when I received transactions in the coming days. Normally I aim for 5rr per week in my own system, but maybe we can be more lucky :)
Data will come from Europe first this morning. Then there is the retail sales data set on the US side. In my analysis, I think the expectations support us.
My target for the EURUSD parity in the short term is still higher levels. That's why we will use the possible declines tomorrow for a long position. I will make a warning update a few minutes before taking action. When I receive a transaction, I will try to write as soon as possible.
As the likes and follows increase, I plan to share different things.
Good luck...
New week in the shadow of warGreetings to everyone;
Since today is the first day of the week, there will be no important data. Last week, as I mentioned before, we entered into a minor correction. Now I think this correction is over and we have turned our direction upward again.
The only development that could suddenly change the direction of fundamental developments would be the turmoil in the Middle East. Therefore, news coming from that side should be examined carefully. Value changes on the oil and gold side will directly affect the dollar index.
I will look for a long position today. As I show on the chart, I will be examining movements around 1.0515.
Don't forget to like and follow to support me :)
Good luck to everyone.
BTC Week 2 Analysis—October 2023Disclaimer:
Please be aware that the information provided in this article is for educational and informational purposes only. It should not be considered financial advice. Trading and investing in financial markets carry inherent risk, always conduct your own research and, if necessary, consult a qualified financial adviser prior to making any investment decisions.
Introduction:
Welcome to our BTC Weekly Analysis for October, Week 2, 2023. This analysis offers continued insight into BTC price action, committed to providing an unbiased Elliott Wave Theory (EWT) analysis for the greater trading community. Our objective is to offer valuable insights that complement your own analysis, empowering you to make well informed trading decisions.
Primary Assumption:
Our October, Week 2, analysis builds upon the data presented in our Week 1 Analysis. During the correction, which we initially assumed to be Minutte Wave 4, we identified three significant errors in our count, subsequently confirming that the correction was Minute Wave 4. To get a detailed account of this correction, click the chart bellow.
Consequently, we maintain that the count established during the Minute Wave 4 correction remains valid. Therefore, we have established a second count invalidation point at which we believe to be the beginning of Minute Wave 5.
Weekly Analysis:
Our weekly analysis takes place on a compressed 15 Minute time frame. In our previous weekly analysis, we anticipated a complex correction after an Extended Wave 3 and Wave 5, ultimately leading to Wave 5 forming as an Expanding Ending Diagonal.
To summarize from the completion of Minute Wave 3, Minutte Wave W unfolded as a Zig Zag correction, with an Expanding Triangle for Micro Wave B. Following this, an Impulse pattern emerged but failed to establish a new trend, signifying the commencement of the first Minutte Wave X. Price action then shaped a second Zig Zag, with an Expanding Triangle forming as Micro Wave B, and Sub Micro Wave E. Following the conclusion of this second Zig Zag, price action Impulsed once again but failed to initiate a new trend. Instead, it formed a Contracting Triangle, marking the end of the second Minutte Wave X. As market fear intensified, price action Impulsed down, effectively concluding Minutte Wave Z, marking the completion of Minute Wave 4, with price now residing in Minute Wave 5.
Minute Wave 5 commenced as an Impulse with an Expanded Wave 3 for form Minutte Wave 1. Minutte Wave 2 revealed market uncertainty as it evolved into a complex correction, with Micro Wave W forming a Zig Zag. Price action Impulsed upon completion failing to establish a new trend, instead, forming as an Expanding Triangle, completing the first Micro Wave X. Micro Wave Y assumed the form of a Zig Zag correction, with price action subsequently experiencing two impulses in opposite directions, completing the second Micro Wave X and Micro Wave Z of the correction, concluding Minutte Wave 2.
Minutte Wave 3 began with a 1-2, 1-2, 1-2 pattern, resulting in an Expanded Wave 3 within an Expanded Wave 3, of Sub Minutte Wave 1. The correction that took place upon the completion of Micro Wave 3 became an Expanded Flat, with Wave B extending beyond the endpoint of Micro Wave 3. On completion of the the Expanded Flat price action Impulsed into the completion of Sub Minutte Wave 1, with price action now residing in Sub Minutte Wave B of Minutte Wave 2.
Forecast:
While predicting future price action is an ambitious endeavor, adhering to EWT rules and guidelines allows us to make informed assumptions about what price action may do. Currently, we assume that price action resides in Micro Wave B of Sub Minutte Wave 2.
Our hypothesis suggests that price action is in the process of forming a Triangle, with Wave D yet to complete, indicating the ongoing development of Sub Minutte Wave 2. Once the Triangle is fully formed, it will signal the conclusion of Micro Wave B, leading to an Impulse to finalise Micro Wave C and Sub Minutte Wave 2. Employing standard Contracting Triangle measurements, we can anticipate the price action target to align with the typical measurements for Wave 2, with a projected bottom approximately around the Yellow 0.707 level indicated on the chart.
Upon completing Sub Minutte Wave 2, price action will Impulsie into Micro Wave 1 of Sub Minutte Wave 3. Following a five-wave impulse, which may coincide with the Weekly candle high, price action will form a Zig Zag correction, guided by the Law of Alteration. This correction is expected to carry us through to the end of October Week 3.
Conclusion:
In conclusion, our EWT analysis for Week 2 has illuminated the evolving structure of BTC price action, building on the previous weeks observations. While predicting future market movements is inherently uncertain, our analysis points to a potential path for BTC price action.
Stay vigilant and use this analysis as a valuable tool to complement your trading decisions.
Bitcoin (BTC) Elliott waves update - All Time FrameBitcoin (BTCUSD) Tends to move with the Elliott waves. We do not predict the price of Bitcoin, but we move with that and draw waves on the chart.Hope this help you to have better looking of BTC Price.
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Follow this Idea to know the movement of Bitcoin based on Elliott waves.
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#BTC #Elliot_Waves
BTC Elliott Waves - Month UpdateBitcoin (BTCUSD) Tends to move with the Elliott waves.
Follow this Idea to know the movement of Bitcoin based on Elliott waves.
WXY correctionHello ladies and gentlemen :)
I couldn't make a prediction yesterday for Tradingview, but even though I could predict the move, I missed the reaction area by only 3 pips and couldn't get my short trade. I think the last breakout started the main correction of the WXY move with a nice example of an impulse move. I expect it to move to the orange zone below, as I show on the chart.
Tomorrow I will look for a long position in the area shown in red. After around 1.0550, I watch the movement and expect it to continue until around 1.0580.
In the London session, inflation data will come first from France and then from Spain. According to expectations, I think it supports my main scenario.
If you like my analysis, do not forget to support. Your likes make me very happy :)
Good luck to everyone.
btctoying around with the possible W1 leading diagonal with a ST top around $40k. Then W2 down to $19k B4 1/2ing then big run after the event.
Gold seems ready to resume its uptrendGold seems to have completed its corrective wave and ready to move back higher towards 2470.
A break above the previous all time high near 1920 would give even more weight to this call.
On the other side, a break below the recent low of 1810 would reduce our conviction.
A break below the uprising trend line near 1740 would invalidate this view.
GBPUSD: Bullish reaction is coming?Although we cannot yet rule out a new bottom on daily chart, from a technical point of view, we are approaching an interesting support area, and this should trigger a bullish reaction on the pair. That said, our short-term view is bullish and we will follow the development in the next few hours on intraday chart (Reversal Pattern formation is necessary to trigger the rally).
Trade with care
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The Price of Black Gold: A Poetic Analysis
-- The Relative Strength Index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset.
-- The Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.
-- The MACD for Brent Oil is currently above the signal line and in positive territory. This suggests that the uptrend in Brent Oil remains intact.
-- Potential Direction for Brent Oil
Based on the Elliott Wave, RSI, MACD, and other technical tactics, the potential direction for Brent Oil on the weekly timeframe is bullish.
Brent Oil is likely to continue its uptrend, with the next target being the 100 USD level. However, if Brent Oil breaks below the 80 USD level, it would suggest that the uptrend is at risk.
-- Factors That Could Affect the Analysis
There are a number of factors that could affect the analysis of Brent Oil, including:
Global economic growth: A strong global economy will lead to increased demand for oil, which would support prices.
Geopolitical tensions: Geopolitical tensions in the Middle East and other oil-producing regions could lead to supply disruptions, which would boost prices.
US monetary policy: The US Federal Reserve is raising interest rates in an effort to combat inflation. This could lead to a slowdown in the global economy and a decline in oil demand, which would weigh on prices.
Overall, the technical outlook for Brent Oil is bullish on the weekly timeframe. However, investors should be aware of the factors that could affect the analysis and should adjust their positions accordingly.
-- Additional Notes
It is important to note that no technical analysis is perfect, and the price of Brent Oil could move in a way that is not anticipated by the analysis above.
Investors should always do their own research and consult with a financial advisor before making any investment decisions.
USDCAD: Short Term Technical AnalysisTechnically the FX:USDCAD pair seems to follow 12345 bullish impulse structure on intraday chart. Having said this, it is possible to follow 2 setups (bearish and bullish) on levels shown on the chart. On the short side, it is good to monitor and manage the position closely and move stop loss to breakeven as soon as possible. In this case the expected pullback could take the form of ABC or ABCDE Pattern. Levels may change, so follow our updates below or on our website.
Trade with care
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