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Elliottwaveprojection

BTCUSDT Elliott Wave - Current Corrective Wave StageCurrent in scope Elliott Wave Impulse Waves 1 to 5. Currently within the Corrective Wave. Used Trend Based Fib Extension Tool to determine the bottom retracement levels of the Corrective Wave A, drawing from 1st High to Low to 2nd High on a 90 minute time frame. - 1st Highs drawn from Wave 5 high. - The low being 22,750 and yet to understand why that level at time of posting but this the magic low used (it is a daily support and a level from which the price moved to make Wave 5 high). - The 2nd Highs drawn to the highest high within the range below Wave 5 high Interesting, using Trend Based Fib Extension, plotting the 1st high, that if you work the way up from left to right, choosing the lower highs on a 90 minute time frame, pulling the next plot to 22,750 lows, then lastly to high within range, playing with this tool draws perfect fibs that correlate to daily Point of Control (POC) levels. I've chosen to use the Fib at 22,750 because when drawing the retracement level for Corrective Wave B. If using 25,530, the price target is below Impulse Wave 3, which does not fit the rule for Elliott Wave Theory. -To draw target Corrective Wave B, using the Trend Based Fib Extension, (Low to high to low), drawn from Corrective Wave A at 22,7k to the High Impulse Wave 5 back down to Wave A at 22,7k giving a possible Corrective Wave B target to the upside of 23,4k. Another important level to be aware of for Wave B target is approximately 22,600ish which is a Naked Point of Control (NPOC) -To draw the Corrective Wave C target, a bit uncertain at time of writing. The last of which is more technical. Using the Trend Based Fib Tool, (high to low to high) from Wave 5, to Wave 4, to the Corrective Wave A, with a target to the downside of approximately 21,750 and daily support level. (at the time of publishing I've 22,129 chosen as it seems a strong daily support). Other point of interest. I've been using Exocharts TPO 1 hourly. Which has been useful for spotting Naked Point of Controls (NPOC), and as well as using Order Flow to determine market movements. Found that although some support levels are well respected. NPOCS on hourly TPO seem to be hit when on a down trend, and can be a good level of support. Please feel free to correct me n any mistakes you make think I have made. Always happy to have positive criticism and useful feedback. Play around with the Trend Based Fib extension tool, the levels and confluence with time frame support and POC's are amazing!
by hmaroudas
3
AUDUSD - Rising WedgeAs we can see AUDUSD created a rising wedge and fell below and show great resistance at the .705 Fib level which is a key Fib level for the 2nd wave of the Elliott Wave Theory. We should now be in the formation of the 3rd wave which is usually the most impulsive wave. On the Chart I marked my Take Profit levels so we can do now is wait to see how the market plays out. Upgrade your trading with me For FREE SIGNALS and if you would like to see updates on this idea and many more please follow: @wrightwayinvestments @wrightwayinvestments @wrightwayinvestments ✅ Hit the like button, and share for more!
Short
by WrightWayInvestments
EWT – Is Natural Gas Prepared for a Reversal?In our previous article, we discussed impulsive wave C and its continuation. On 20 January 2023 , Price achieved our all given targets. Click here - ----------------------------------------------------- Timeframe : MCX Natural gas has accomplished the corrective wave B and started falling for impulsive wave C. Price has given a reversal from previous wave C, but it is no conclusive evidence that it has completed wave c. When it comes to confirmation, Traders should watch the level of 313 . If the price breaks out the 313 , it will enter into the parallel channel. Traders can buy for the following targets: 321 – 340 – 366 . Don’t forget prices are moving outside the channel, which is a negative point for traders. Bearish continuation is possible if the price sustains below wave (4). I will update further information soon.
MCX:NATURALGAS1!
by forextidings
2
TIPH | Elliott Wave - Wave 4 Uptrend Target or A Bull Trap? Price action and chart pattern trading - A possible bull trap false breakout SMA200D > The price strong breakout last week could be forming an inverse head & shoulders pattern for a possible 4-wave correction uptrend > Wait for a pullback to complete the right shoulder consolidation pattern. > Entry : breakout - right shoulder after pullback consolidation > Target: Upper resistance +10-15% (0.382 - 0.5 Fibonacci retracement zone) > Stop: right shoulder support - 4% > Risk Reward Ratio: 2:1 Always trade with affordable risk and respect your stoploss Good Luck
SET:TIPHLong
by dukeposh
Ethereum heading to $2500. This year.Looking at the ethereum chart and it’s clear that a major correction has completed. Problem is too many people think the bottom is in. Don’t get me wrong, a bottom is in but now the market is in a phase where short sellers are going to get their faces ripped off. The phase of the market where bears are late to the game. I wouldn’t consider shorts until ethereum gets above $2000. There’s decent probability we are in the wave 3 of 5 of c of (x). I’d stay long for the time being and if you use leverage, don’t use high leverage unless you can afford to lose that money.
BITSTAMP:ETHUSDLong
by bitdoctor
6
VGI | Wave Projection | Inv. H&S TFW Breakout Target +30% upsidePrice action and chart pattern trading setup & target > This wave analysis in weekly timeframe indicates a possible new 1-wave ABC uptrend reversal pattern with an inversed head & shoulders pattern support. > ENTRY: A possible pullback trade at neckline breakout zone > TARGET: head & shoulders targeting 1.618 extension +30% upside > RESISTANCE: 1.0 Fibonanci extension zone 5.30+ baht > STOP: right shoulder zone -10% risk > RRR: 3:1 Always trade with affordable risk and respect your stoploss Goodluck
SET:VGILong
by dukeposh