Get started

Elliottwaveprojection

$SPY | Watchlist D1 | Buy Limit |Technical Confluences: - Recent Elliott wave count shows that we are now in a Wave 4 retracement - Price action seemed to have topped out at the 50% Fibo Extension for now (Ending Wave 3) - Price action may test the Supply Zone again before retracing downwards towards the Horizontal Trendline and the 38% or 50% Retracement Fibo Fundamental Confluences: - US economic outlook is weak currently and valuations needs to normalize before we make a new high - Businesses are suffering from high interest rate environment and for the FED to cut, growth needs to show definite weakness, which we are starting to see. - A FED cut will not instantly improve business prospects again as interest rate changes takes time to seep into the economy - Investors will also be wary about the upcoming elections as government policies may affect business activities ________________________________ Watching the Demand Zones as levels to begin some of my portfolio allocation into AMEX:SPY Will place my Buy Limit orders for the it. Remember, DYOR. ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. DYOR.
AMEX:SPY
by weekendanalyst
4
Wave Theory in Motion: Understanding Key PatternsElliott Wave Analysis: Example used chart of Eicher Motors (NSE: EICHERMOTORS) This analysis is provided for educational purposes only and does not constitute trading or investment advice. All wave counts are subject to change as the market evolves. Always consult with a qualified financial advisor before making any trading decisions. Overview: In this analysis, we will delve into the current market structure of Eicher Motors through the lens of Elliott Wave Theory. The focus will be on identifying the wave count, potential price targets, and critical invalidation levels. Wave Count: Starting from the low at 4253, we have a clear impulsive structure labeled as wave (i). This wave consists of five smaller sub-waves, denoted by i, ii, iii, iv, v. The subsequent correction, wave (ii), retraced part of this impulsive move, unfolding in a typical corrective pattern, which then led to wave (iii). This wave extended higher, reflecting strong bullish momentum, followed by waves (iv) and (v) completing the impulsive sequence near 4976 where we had labelled as wave 3 completed. From there, an Expanded Flat corrective structure began, identified as a ((a))-((b))-((c)) pattern, which seems to have completed near ₹4,548. This marks the end of wave 4, a corrective wave within a larger impulsive sequence. Currently, the stock appears to be in the early stages of a new impulsive wave, labeled as wave (i) of a higher-degree wave ((i)) of one more higher degree wave 5. Elliott waves Theory based Target Assumptions: Given that wave 3 of the previous impulsive move ended around 4976, we anticipate that wave 5 should extend beyond this level. The first target for wave 5 would be around 5000, If momentum is strong, we could see further extensions. Invalidation Levels: Critical to any Elliott Wave analysis is understanding where the wave count might be invalidated: Nearest Invalidation Level: A break below 4548 would invalidate the assumption that wave (v) of wave C has completed. This would suggest that the corrective wave 4 is still ongoing or that a different corrective structure is forming. Main Invalidation Level: Should the price fall below 4253.85, it would invalidate the entire bullish wave count, implying that a much larger corrective pattern is unfolding, or a change in the trend direction is occurring. Conclusion: Eicher Motors is showing signs of a potential new impulsive move to the upside, However, traders should keep a close eye on the invalidation levels at 4548 and 4253.85. Breaching these levels would require a reevaluation of the current wave structure and could signal a deeper correction. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:EICHERMOTEducation
by RK_Chaarts
Understanding Complex Structures: Elliott Wave Theory in ActionTechnical Analysis on Exampled chart of RBL Bank Ltd. using Elliott Wave Theory Understanding Complex Structures: Elliott Wave Theory in Action This analysis uses Elliott Wave Theory & Structures, which involve multiple possibilities. The analysis presented focuses on one potential scenario. The provided information is for educational purposes only, not trading advice. There is a risk of being completely wrong, and users are warned not to trade or invest solely based on this study. The content is not advisory and does not guarantee profits. We are not responsible for any kind of profits and losses; individuals should consult a financial advisor before making any trading or investment decisions. Elliott Wave Principles Elliott Wave Theory, developed by Ralph Nelson Elliott, is a widely used method of technical analysis. It helps traders analyze financial market cycles and forecast market trends by identifying patterns of investor psychology, reflected in price movements. According to Elliott, market prices unfold in specific patterns, termed as "waves". These waves are categorized into: Impulse Waves: Move in the direction of the overall trend and consist of five sub-waves. Corrective Waves: Move against the trend and consist of three sub-waves. Impulse waves are labeled as 1, 2, 3, 4, and 5, and corrective waves are labeled as A, B, and C. Complex corrections are labeled as W, X, Y, and sometimes Z. Chart Analysis Exampled of RBL Bank Ltd. Here's a breakdown of the wave counts as illustrated in the chart: Impulse Wave 1 - 5 as a bigger degree wave (3) - Starting from the bottom left, the stock initiates an upward movement labeled as waves (i), (ii), (iii), (iv), and (v), culminating in a larger degree Wave (3). This indicates a bullish impulse wave consisting of five sub-waves. Corrective Wave W-X-Y Correction as a bigger degree Wave (4) - The chart shows a complex correction starting from top of Wave (3) with set of double correction as wave W-X-Y Current Market Scenario - Currently, the stock appears to be completing another corrective wave (Y), marked with sub-waves (a), (b), and potentially completing (c). of wave ((y)) of larger degree wave Y to finish one more larger degree wave (4). Can show some Dips to complete wave (4) along with Bullish Divergences. Future Projection Based on the Elliott Wave count, the stock seems to be in the final stages of completing Wave (c) of ((y)) of Y of (4). After this correction, it is anticipated that a new impulsive wave cycle might begin, potentially forming Wave (5) of a larger degree. The projected target for this next upward wave, post-correction, could reach above the previous high near the 300 level or more. By understanding these principles and analyzing the provided chart, traders can gain insights into potential market movements and make more informed trading decisions. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:RBLBANKEducation
by RK_Chaarts
10
Analyzing the USD's Drop: Election Impact and Wave Study The US Dollar continued to trade lower, closing the week at 103.22, indicating ongoing uncertainty with this currency pair. The current market sentiment reflects significant fear and a perception that the Federal Reserve lacks a clear direction. From a technical standpoint, we are operating under the assumption that the movement from the July 2023 lows is forming a triangle pattern. We are identifying potential support in the 102.35-101.90 range as potential end for wave D. Given the upcoming US elections, there is little expectation for positive momentum for the USD as a currency. Therefore, our strategy will be to proceed cautiously and respond to market signals as they emerge.
TVC:DXY
by ewNicola
Navigating the Waves: Elliott Wave Theory and Key IndicatorsEducational Technical Analysis on example chart of UFO Moviez India Elliott Wave Analysis and Key Moving Averages Disclaimer This study is for educational purposes only and does not constitute trading or investment advice. The analysis presented focuses on one potential scenario based on Elliott Wave Theory and other technical indicators. Trading and investing involve substantial risk, and individuals should consult a financial advisor before making any decisions. Introduction to Elliott Wave Theory Elliott Wave Theory is a form of technical analysis that traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective activities. The theory posits that stock prices move in predictable patterns or "waves" based on investor sentiment. Principles of Elliott Wave Theory 1. Wave Patterns: According to Elliott, market prices move in five waves in the direction of the main trend (impulse waves) and three waves in a correction against the main trend (corrective waves). 2. Wave Degrees: Waves are fractal in nature, meaning that smaller waves form part of larger waves, and this pattern repeats on all time frames. 3. Wave Characteristics: - Wave 1: Usually the smallest impulse wave. - Wave 2: Corrects Wave 1 but does not exceed its starting point. - Wave 3: Typically the strongest and longest wave. - Wave 4: Corrective wave that is usually less severe. - Wave 5: Final leg in the direction of the main trend. Current Analysis of example chart of UFO Moviez India Based on the chart and Elliott Wave Theory, UFO Moviez India is currently suggesting an impulsive and momentum-driven 3rd of the 3rd wave ahead, with an invalidation level at 106. Key Observations: 1. Wave Count: - Wave (1): An initial 5-wave impulse has completed. - Wave (2): A corrective ABC pattern. - Wave (3): Currently unfolding with sub-waves i, ii, iii, iv, and v marked. - Wave 3: In the larger context is forming. 2. Breakout: - There is a breakout above the downward trendline with good volumes, indicating strong bullish momentum. 3. Key Moving Averages: - Price Trading Above: - 50 EMA, 100 EMA, and 200 EMA - 50 WEMA, 100 WEMA, and 200 WEMA - Crossed above 20 MMA Technical Indicators and Levels - Price: 148.54 INR (as of the latest close) - Support Levels: - Nearest Invalidation Level: 106 INR - Major Support: 57.20 INR - Resistance Levels: - Immediate Target: 175.58 INR (Wave 1 of larger degree) - Fibonacci Extension Target: 220.51 INR (1.618 extension of Wave 1) Conclusion The Elliott Wave analysis of example chart of UFO Moviez India indicates a potentially strong bullish trend as the stock is in the 3rd wave of a larger impulse. The breakout above the trendline with significant volume further supports this bullish outlook. However, it is crucial to monitor the invalidation level at 106 INR, as a break below this level could invalidate the current wave count and suggest a different scenario. Educational Purpose Notice This analysis is provided for educational purposes only. It is not an investment or trading advice or tip. Trading and investing in financial markets involve risk, and it is important to do thorough research and consult with a financial advisor before making any investment decisions. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:UFOEducation
by RK_Chaarts
2
Predicting Bitcoin's Cycle Using the Elliott Wave Theory, Part 2Hello traders. In this article, we dive deeper into another detailed way of seeing Bitcoin's potential end-of-cycle pattern. This is the 2nd part to the previous post that discusses Bitcoin's cycle using the Elliott Wave Theory - a comprehensive and subjective theory. Here, we will be exploring an alternative scenario that builds on our previous concept of Bitcoin fractals since its inception in 2009. By addressing some of the subjectivity in the wave theory and leveraging market psychology and algorithmic fractals, this post is aimed to provide another organized and insightful look at the structure of Bitcoin's price movements.
If you are interested in seeing the first scenario, here is a link for your convenience: For this alternative scenario, as mentioned above, it addresses some of the subjectivity that arises from the Elliott Wave Theory, specifically the observation of multiple 1-2 scenarios presented in our previous idea. Although the idea was supported by evidence from market psychology and algorithmic fractals, the problem arises by having the possibility of infinite 1-2 nested structures that works upon extending each internal wave - which is a pretty rare observation in any markets; however, Bitcoin has been able to withstand year by year and work on a pretty timely schedule. Based on the expectations, we used that observation to create the scenario of nested 1-2's. Nevertheless, due to its possible subjective count, this idea focuses more on the structural integrity of the basic 5-wave pattern and being able to fit the whole price action from inception as a 5-wave pattern.
 Simply put, this thesis aims to create a more organized structure. As many are still eager to determine how far Bitcoin might correct after this bull run ends, I hope this idea can also give you confidence to help build your own thesis.
 There is one thing that is for sure, however: the evidence portrayed from both of these scenarios strongly suggests that we will see higher levels before lower levels, though no theory can be 100% accurate, we could technically see a reversal even now. But my duty is to make sure to narrow down the scenarios as best as I can.
 For this specific idea, we have structured this whole move up as 5 waves since inception, sticking as closely as possible to the basic Elliott Wave model of the 5-wave impulse. To achieve this, we made some simple adjustments from the first thesis in the previous post.

The challenge for many arises when trying to fit a wave 3 that must be the longest or second longest wave compared to waves 1 and 5. In this chart, since primary wave 1 in yellow is the longest, wave 5 must be technically shorter than wave 3, which is a strict rule and must be obeyed.
 To accomplish this, we can use the 2017-2020 price action as a range initself for wave 4. Previously, we considered the pandemic crash as a technical bottom. If we use that as a sideways range, the only viable sideways patterns are triangles and flats (as we have exhausted the zigzag family correction patterns for wave 4 already). For more details on these patterns, please refer to the previous guide on triangle and flat patterns in my Elliott Wave Theory guide on my main page. By using the 2017-2020 range as a triangle, our subwave E has resulted in an extremely short subwave, known as a failure or truncation. After breaking out of the triangle, the next step is to figure out on how to form wave 5, which is the final part of the 5-wave motive impulse.
 Currently, the only way we can see wave 5 concluding is through a possible diagonal given the current data. Why? We would typically expect a basic 5-wave move for wave 5, but since wave 5 has to be short and wave 1 was extended, we do not expect the last primary wave 5 in yellow to be extended. Thus, the only remaining option is a possible diagonal pattern to complete wave 5, since we have also assumed it will be short due to wave 1 already being the longest wave and wave 3 being the 2nd longest wave.

This Ending Diagonal, which consists of 5 waves (unlike a Leading Diagonal, which appears in waves 1 or A), they are only observed in wave 5s or wave Cs.
 To construct our Ending Diagonal, the five subwaves must be zigzags (simple ABCs) or complex zigzags (WXYs). We are currently observing a mix of these, which is normal in diagonals: 
 * Subwave (1): ABC. Observed as a long wave A and short wave C. This can be debated, but longer wave As compared to wave Cs are not uncommon. * Subwave (2): WXY. A WXYXZ could fit as well like we observed in our previous post, but that deviates significantly from the traditional structure. A WXY is the next best alternative, and even that can be subjective as we typically observe simple ZigZags (ABCs) within diagonals. * Subwave (3): Currently being created. With the available data, it could be an ABC, though it may become more complex going forward. * Subwave (4) / (5) : To be determined. Must belong to the zigzag family.

 As we are still working on subwave (3) within the ending diagonal, the interest level for a pullback remains the same as in our previous idea, THAT IS THE KEY. This significant pullback could validate this idea, so we will monitor it up to that point.
 This larger picture presents a wide range between subwaves 4 and 5, similar to waves 1 and 2.
 Once subwaves 4 and 5 are created, it will technically terminate the larger degree wave 5 of the entire 5-wave impulse cycle. After termination, a significant downside correction is possible, potentially reaching levels as low as $3,000. Alternatively, we also have a completely different count where this cycle wave 1-2 may be already in play, and it can be achieved by using a larger flat idea that may also help with separation and further deepend subjectivity. Here is that approach: In conclusion, while the evidence strongly suggests that Bitcoin will reach higher levels before any significant correction, it is crucial to remain adaptable as market conditions evolve. The analysis presented here offers merely a potential roadmap. No theory can predict market movements with absolute certainty. By staying informed and considering multiple scenarios, investors can better navigate the complexities of the cryptocurrency market. I invite EVERYONE to share your thoughts and engage with this post in the comments below.
Editors' picks
INDEX:BTCUSDEducation
by XForceGlobal
109
Bitcoin Elliott wave analysis - wave 5 has begunSimple impulse wave count showing current price action forming the base of Intermediate wave 5 (the largest degree shown). If so, it would appear to be in the 5th wave of Minor wave 1, possibly completing around the 72.6-72.9K USD area. This implies a pull back to around 50-61.8% of the length of Minor wave 1 to complete Minor wave 2. As always, prior pivots will be levels of interest in that range. Upper targets are around the 125K level to complete Intermediate wave 5, which would be somewhere between a 100-115% advance. Some non-Elliott wave channel analysis suggests Intermediate (4) is not yet complete. However RSI and other indicators suggest wave 5 has begun. Minor wave count is officially wrong below 53,458.05 USD, which would indicate Intermediate wave 4 is still in progress - of course, that in turn applies to a decline below the end of Intermediate wave 1, which would invalidate the entire move as an impulse as counted.
INDEX:BTCUSDLong
by JCore7
Mastering Elliott Waves: Key Rules You Can't IgnoreEducational Idea : Understanding Key Principles of Elliott Wave Theory Introduction Elliott Wave Theory is a powerful tool used by traders to analyze market cycles and forecast future price movements. Understanding its core principles can help you make more informed trading decisions. In this article, we will delve into three fundamental principles of Elliott Wave Theory that cannot be violated. Remember, this video is purely for educational purposes and not intended as trading advice or tips. 1. Wave 2 Can Never Retrace More Than 100% of Wave 1 The first principle of Elliott Wave Theory is that Wave 2 can never retrace more than 100% of Wave 1. In other words, Wave 2 cannot go below the starting point of Wave 1. If it does, it invalidates the wave count and suggests that the initial impulse wave (Wave 1) was incorrectly identified. This rule ensures that Wave 2 is a correction wave within the larger trend and not a reversal of the trend itself. Example Illustration: - If Wave 1 starts at 100 and peaks at 150, Wave 2 can retrace to any level above 100, but not below it. 2. Wave 3 Can Never Be the Shortest Among All Three Impulse Waves (1-3-5) The second principle states that Wave 3 can never be the shortest among the three impulse waves (Waves 1, 3, and 5). Typically, Wave 3 is the longest and most powerful wave, characterized by strong momentum and volume. If you find that Wave 3 is shorter than either Wave 1 or Wave 5, the wave count is incorrect, and you need to re-evaluate your analysis. Example Illustration: - If Wave 1 is 50 points and Wave 3 is only 30 points, while Wave 5 is 40 points, this violates the rule as Wave 3 is the shortest. 3. Wave 4 Cannot Enter the Territory of Wave 1 (Except in Diagonals & Triangles) The third principle asserts that Wave 4 cannot enter the price territory of Wave 1. This means that the lowest point of Wave 4 should not overlap the highest point of Wave 1. An exception to this rule occurs in diagonal and triangle patterns, where some overlap is permissible. This rule helps maintain the integrity of the impulse wave structure. Example Illustration: - If Wave 1 peaks at $150 and Wave 4 retraces to $145, this overlaps and invalidates the wave count unless the pattern is a diagonal or triangle. Conclusion By following these principles, you can ensure that your Elliott Wave analysis remains robust and accurate, helping you navigate the complexities of the financial markets with greater confidence. Understanding and applying these key principles of Elliott Wave Theory can significantly enhance your market analysis and trading strategies. Keep these rules in mind as you study and apply Elliott Wave Theory in your trading journey. Remember, this video is purely for educational purposes and not any kind of trading advisory or tips. This content is for educational purposes only and should not be considered as financial advice. Always do your own research before making any trading decisions. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Feel free to share your thoughts or questions in the comments below. Happy trading! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:IRFCEducation
by RK_Chaarts
13
Charting the Future: An Elliott Wave ApproachTechnical Analysis of Rajesh Exports Using Elliott Wave Theory Monthly Time Frame Analysis Elliott Wave Count and Structure: - The monthly chart of Rajesh Exports shows a clear Elliott Wave pattern, suggesting the completion of a corrective wave (C) of a larger degree wave ((2)) in Black, implying that a new bullish impulse is likely to begin wave ((3)) in Black. - The recent price action indicates the end of Wave (C), part of a larger correction that followed a significant impulse wave (5) earlier of wave ((1)) in Black. - This suggests that the stock is about to start a new bullish cycle, labeled as Wave (1) in Blue of a new impulse higher Primary degree wave ((3)) in Black. Bullish Divergence: MACD: The price shows hidden bullish divergence with the MACD, as the MACD line forms higher lows while the price makes lower lows on Monthly time frame. RSI: Similar hidden bullish divergence is observed with the RSI too on monthly time frame, reinforcing the bullish outlook. Daily Time Frame Analysis Bullish Divergence: MACD: The price shows bullish divergence with the MACD, with the MACD line forming higher lows while the price forms lower lows. RSI: The RSI also shows bullish divergence, adding further weight to the bullish scenario. Trigger Point: Trendline Breakout: The daily chart indicates a trendline breakout accompanied by a significant increase in volume. This breakout suggests a strong bullish sentiment and confirms the start of a new upward trend. Invalidation Level: The invalidation level for this bullish scenario is set at 261. If the price falls below this level, the bullish wave count would be invalidated. Targets: According to Elliott Wave Theory, the third wave (3) is typically the most powerful. Using the Fibonacci extension, the 161.8% target of Wave (1) places the possible price target near or above 1800. Summary Elliott Wave Count: Indicates a potential start of a new bullish impulse wave. Bullish Divergence: Both MACD and RSI on the daily and monthly charts show bullish divergence. Trendline Breakout: Confirmed with high volume, suggesting strong upward momentum. Invalidation Level: 261 Target: 161.8% Fibonacci extension of Wave (1) projects a target near or above 1800. The overall analysis suggests that Rajesh Exports is poised for a significant upward movement, with strong bullish indications from both the Elliott Wave counts and technical indicators. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:RAJESHEXPOEducation
by RK_Chaarts
4
Charting with Elliott Waves & Technical AnalysisUnderstanding how to do Technical Analysis of any chart based on Elliott Waves This analysis is for educational purposes only and should not be considered as trading advice. Multiple scenarios are possible in the real market, and there is a risk of being wrong. It is essential to consult with a financial advisor before making any trading or investment decisions. We are not responsible for any profits or losses incurred based on this analysis. Wave Rules: Wave 2 cannot retrace more than 100% of Wave 1. Wave 3 is never the shortest wave. Wave 4 should not overlap with Wave 1's price territory, except in diagonal triangles. Applying Elliott Wave Theory Elliott Wave Theory is a powerful tool for traders, but it requires practice and a deep understanding of market psychology. By analyzing wave patterns, degrees, and Fibonacci relationships, traders can gain insights into potential market trends and make informed trading decisions. It is important to combine Elliott Wave analysis with other technical indicators and risk management strategies to enhance the accuracy and reliability of market forecasts. Elliott Wave Theory provides a comprehensive framework for understanding market cycles and predicting price movements. By mastering its principles and applying them with discipline, traders can enhance their ability to navigate the financial markets and capitalize on emerging trends. Let's understand study of this chart Elliott Wave Analysis: The chart represents the Possible Elliott Wave counts for TATA STEEL, currently indicating the completion and projection of waves within an impulsive structure. Wave Count Overview: The chart demonstrates a five-wave impulsive structure labeled as: Wave (i), Wave (ii), Wave (iii), Wave (iv), Wave (v) The blue zone highlights a previous resistance area, which is now acting as a potential support zone. The current wave structure projects wave (v) of ((v)). Invalidation Level: The nearest invalidation level for this wave count is at 155.00. A drop below this level would invalidate the current wave count. Potential Targets: The projected target for wave (v) of ((v)) is around level of 184.60 & more. This target is derived from typical characteristics of the fifth wave in Elliott Wave Theory, often extending to new highs before the completion of the impulse wave. Elliott Wave Principles and Characteristics of Wave (v): Elliott Wave Theory posits that market prices move in repetitive cycles, consisting of five waves in the direction of the main trend (impulse waves) and three corrective waves. Wave (v) in an impulse sequence is typically the final wave of the trend and often displays characteristics such as: Completing the overall five-wave pattern. Extending beyond the previous high of wave (iii). Exhibiting momentum divergences (where price makes a new high but momentum indicators do not). Sometimes driven by fundamental news or events, leading to sharp price movements. Key Levels to Watch: Current Price: 160.31 Nearest Invalidation Level: 155.00 Potential Target for Wave (v) of ((v)): 184.60 Educational Note: Students of Elliott Wave Theory are encouraged to practice drawing their own wave counts and verifying whether all subdivisions align with higher-degree wave principles. This practice will enhance your study, making it more accurate and practical. Always remember, in real markets, multiple possibilities exist, and this analysis focuses on one potential scenario. There is a risk of being completely wrong. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:TATASTEELEducation
by RK_Chaarts
10
Navigating the Waves: Piramal Enterprises Technical StudyTechnical Analysis of Piramal Enterprises (NSE: PEL) This analysis is shared for educational purposes only and should not be considered financial advice. Overview Piramal Enterprises has shown a promising breakout with significant volume, indicating strong bullish momentum. The Elliott Wave analysis also suggests a positive structure, pointing towards potential further gains. Elliott Wave Analysis Wave 1: The stock completed its first impulse wave (1) near 1,140 INR. Wave 2: The corrective wave (2) concluded around 735.85 INR. Wave 3: The ongoing wave is expected to be an impulse wave 3, targeting higher levels. Current Structure - The stock has completed the corrective wave C of (2) and is now in the early stages of wave 3. - The recent breakout above the black trendline suggests the start of wave (i) of 3, supported by increasing volume, adding to the bullish sentiment. Key Levels - Current Price: 977.85 INR - Nearest Invalidation Level: 905.00 INR - Major Invalidation Level: 630.45 INR Targets - Elliott wave suggests ahead wave 3 first levels (1.0 Fibonacci Extension of Wave 1): 1,246.00 - Elliott wave suggests ahead wave 3 ideal level (1.618 Fibonacci Extension of Wave 1): 1,561.25 Conclusion Piramal Enterprises has provided a strong breakout backed by volume, aligning well with the Elliott Wave theory. The structure indicates a continuation of the uptrend with potential targets at 1,246 INR and 1,561.25 INR. The nearest invalidation level is at 905 INR, with a major invalidation level at 630.45 INR. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:PEL
by RK_Chaarts
SHALBY LTD's Elliott Wave AdventureSHALBY LTD Technical Analysis Hey, fellow traders! 🎉 Buckle up because SHALBY LTD is about to take us on a thrilling ride! 🚀 Elliott Wave Analysis: First, let’s break down what the Elliott Wave Theory is telling us. The stock price has been dancing to the tune of these waves quite beautifully. Wave (3): The party started with a powerful uptrend, marking the end of Wave (3) around December. The stock soared, leaving us all in awe. ABC Correction: Then came the correction phase (like a brief rain shower at a sunny beach). We saw the price dip into an ABC correction, finding support around INR 210.35, completing Wave (4). Wave 1 and 2: Recently, the stock broke out from the corrective phase, kicking off a new motive wave. The breakout from the resistance line (marked as Wave 1) was quite a spectacle! It faced a slight pullback (Wave 2), but that’s just the stock catching its breath. Trendline Breakout: Now, here’s where things get exciting! 🚀 Breakout with Volume: The price smashed through the resistance trendline like a champ, backed by strong volume – the kind that makes you sit up and take notice. This breakout suggests we’re gearing up for Wave 3 of the new cycle, which is typically the most explosive and profitable wave in Elliott Wave Theory. Current Price: As we speak, SHALBY LTD is trading at a cool INR 310.50. The price action has shown strength, indicating that the bulls are in control. Invalidation Levels: No analysis is complete without some risk management: Nearest Invalidation Level: Keep an eye on INR 264. If the price dips below this level, our bullish scenario might need a re-think. Major Invalidation Level: The ultimate line in the sand is at INR 210.35. If the stock breaks below this, it would invalidate our current wave count, and we’d need to reassess. Targets: Let’s talk potential profits – the sweet part! Short-term to Mid-term Targets: The next wave up (Wave iii) could see prices pushing past INR 340-370-380, and then might be small dip of (Wave iv) and then finally (Wave v) where the bulls really have their way, we’re looking at targets beyond INR 400! 🌟 Conclusion: So, here we are, sitting at INR 310.50 with a bullish outlook. The trendline breakout, supported by strong volume, suggests we could be in for some exciting upward moves. Keep those invalidation levels in mind and let’s ride the waves to potential new highs! I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Happy trading! 🌊📈 Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:SHALBYLong
by RK_Chaarts
2
GTPL HATHWAY LTD. Technical Outlook with Elliott wavesThe chart provided utilizes Elliott Wave Theory to analyze the price movements of GTPL HATHWAY LTD . Below is a breakdown of the wave counts and their significance: Primary Wave Count Labelled in Black Wave ((1)) in Black (Primary Degree): - This initial wave is marked from the low in March-2020 to the high Oct-2021. - It represents the first major upward movement after a prolonged downtrend, indicating a new bullish cycle. Wave ((2)) in Black (Primary Degree): - This corrective wave follows Wave ((1)), retracing a portion of the gains made in Wave ((1)). - It is marked from the high Oct-2021 to the low March-2022. - Wave ((2)) is typically characterized by a three-wave structure (ABC correction), although it appears to have a complex structure in this case. Wave ((3)) in Black (Primary Degree): - The current wave, which is expected to be the most powerful and extended wave. - It is divided into five smaller waves (1)-(2)-(3)-(4)-(5) within it, in Blue (Intermediate Degree). Intermediate and Minor Degree Waves Wave (1) of ((3)) (Intermediate Degree): - This wave is a smaller degree wave within the primary Wave ((3)). - It starts from the low of Wave ((2)) and moves up, completing its cycle around the first quarter of 2023. Wave (2) of ((3)) (Intermediate Degree): - A corrective wave within the primary Wave ((3)), following the high of Wave (1). - It retraces some of the gains made in Wave (1). Wave (3) of ((3)) (Intermediate Degree): - This wave is in progress and is expected to unfold into five smaller waves (i, ii, iii, iv, v). Subdivisions as Minor Degree in Red within Intermediate Waves Wave 1 of (3) (Minor Degree): - The first sub-wave of the intermediate Wave (3), indicating a small upward movement. Wave 2 of (3) (Minor Degree): - A corrective sub-wave following Wave 1, resulting in a minor pullback. Wave 3 of (3) (Minor Degree): - Expected to be the most extended and powerful sub-wave within the intermediate Wave (3). - This wave is likely to push the price significantly higher, followed by wave 4 & wave 5 to finish Wave (3). Bullish Scenario and Price Targets Target for Wave 3 (Primary Degree): - The projected target for Wave 3 is around the 1.618 Fibonacci extension level, which is 353. Key Levels - Invalidation Level: 155 - This level serves as a crucial point. If the price drops below 155, it invalidates the current wave count and the bullish scenario for now. MACD Trend Indicator: - Already running positive in both Monthly and Daily timeframes. - Turned upside in Weekly timeframe and is on the verge of a positive crossover. Trendline Breakout: A trendline breakout has been observed on the Weekly timeframe. Moving Averages: The price has closed above the 50EMA, 100EMA, and 200EMA in both Weekly and Monthly timeframes. Bullish Divergences: Bullish divergences are aligned on both Weekly and Daily timeframes. Support and Resistance: The price is taking support at the 20SMA mid Bollinger Band in the Monthly timeframe. The stock is attempting to close above the Weekly 20 SMA, which has not been achieved yet. Conclusion The detailed wave count analysis suggests that "GTPL HATHWAY LTD" is currently in the early stages of a primary Wave 3, which is typically the strongest and most extended wave in Elliott Wave Theory. The intermediate and minor degree waves within this primary wave indicate a structured and progressive upward movement, supported by various technical indicators. The primary target is set at 353, with an invalidation level at 155. If the price breaks below the invalidation level of 155, it indicates that we are still in Wave (2) of the Blue Intermediate Degree. Consequently, we would need to wait for the start of Wave 1 of (3). In this scenario, the new invalidation level would be 93.75. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:GTPLLong
by RK_Chaarts
6
EURNZD Elliott Wave Analysis: Bearish momentumHello traders, Trust you are good. Please find below my Elliott wave analysis of EURNZD. You can refer to this chart to understand the underlining story. Following significant bearish pressure through an impulsive wave representing wave (A) of wave Y, the price corrected upward from 1.73935 to 1.76526. This corrective wave typically retraces between 38.20% and 61.80% of the previous wave length. The emergence of reversal signals around the 1.76500 price region after this upward correction suggests renewed bearish momentum, aligning with the anticipated wave (C) of Y. This bearish outlook is further reinforced by the presence of a bearish butterfly pattern. The target levels are set at 1.74854, 1.74296, and 1.74020. Cheers and happy trading.
Short
by Samuel124