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Elliottwaveprojection

SHIBUSDT | Wave Projection | Bull Look +130% Explosive MovePrice action and chart pattern trading setup: > Global downtrend wave channel breakout and retest its major resistance at SMA200D > The current bullish outlook of ABC uptrend wave with an upcoming C-impulse 1-2-3-4-5 wave > Target bullish wedge breakout TP1 @ fibonanci 1.0 extension - 1500+ and TP2 @ 1.618 extension zone +130% upside - 2600+ > Candlestick tight squeezed just below SMA200, if breakout SMA200D successfully, this major resistance will be the support for the new uptrend explosive wave. > The next support SMA50D and SMA20D @ 1000+ zone Always trade with affordable risk and respect your stoploss, nothing is 100%.
Long
by dukeposh
Crude oil correction is over, time to go longHi traders, Today we want to talk about crude oil. We forecast that the correction of the oil initiated on March 2022 is over and we already have started wave III in the cycle degree (orange). These are the 2 main reasons 1- The expected minimum level for the WXY correction was reached (87.086). We can see clearly that the price has bounced from the Inflexion Zone, the green area. Therefore, we do not need to go further down to consider the WXY structure complete 2- The RSI trendline has been clearly broken. It is one sign that the new bullish cycle has started. We cannot discard the option that oil makes another low, but we are quite sure the inflection zone will be respected and therefore, crude oil correction is going to end above the 60 USD level. The last confirmation to ensure we are in the new bullish cycle is to break the highs made in march 2022, but it can take some time for that to happen and, meanwhile, we can take some long position trades trading the lower degree cycles (or Timeframes) structures. Ideally, you bought Crude oil in the inflection area, but in case you did not, once the price breaks the 94.039, which is the last high created in October, we will be looking for another long opportunity if a clear corrective structure is detected. We will keep you updated. Always keep in mind that risk management is, at least, as important as the entry-level or the SL. Remember the quote “If you do not manage the risk, you will not have any risk to manage” The market is always repeating the same type of defined structures. There are only two main wave types: the motive wave and when the motive wave ends it starts a corrective wave. Within them, there are only 3 motive waves structures (Impulse, leading diagonal, and ending diagonal ) and 5 main types of corrective structures (ABC, WXY, Flats, triangle, WXYXZ (triple correction)) Learning them and being able to spot them in the price action graphs will completely change the way you trade as these structures will provide entry point areas, invalidation levels, and targets for the trade. Have a safe and profitable trading day Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it is only the explanation of what we are going to do and it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:WTICOUSDLong
by TradingtheRightSide
SP500 Short OpportunityHi traders, SP 500 is in a corrective cycle that started at the beginning of 2022. We do expect further down to end the WXY corrective structure. This will create new lows and it will break down the 3480 level. Considering that, we can take advantage of it by trading the end of B in the intermediate degree (blue) and riding the whole wave C before ending the corrective cycle WXY of wave 2 and starting the new bullish cycle. Short potential idea: Entry: 4144 SL: 4442 Target: 3210 Risk: max 2% of your account Always keep in mind that risk management is, at least, as important as the entry-level or the SL. Remember the quote “If you do not manage the risk, you will not have any risk to manage” The market is always repeating the same type of defined structures. There are only two main wave types: the motive wave and when the motive wave ends it starts a corrective wave. Within them, there are only 3 motive waves structures (Impulse, leading diagonal , and ending diagonal ) and 5 main types of corrective structures (ABC, WXY, Flats, triangle, WXYXZ (triple correction)) Learning them and being able to spot them in the price action graphs will completely change the way you trade as these structures will provide entry point areas, invalidation levels, and targets for the trade. Have a safe and profitable trading day Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it is only the explanation of what we are going to do and it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:SPX500USDShort
by TradingtheRightSide
WHA | Wave Projection | ABCDE Rising Triangle TargetPrice action and chart pattern trading setup: > The key level to watch for the price now almost reaches the upcoming channel resistance and minor ABC pattern T1 zone. > Take partial profit recommendation, most likely to retest the triangle neckline or breakdown making E wave dump and pump pattern. > Entry @ neckline pullback zone 0.382 and S2 @ 0.618 SMA200D zone > Target @ T2 Major ABC Target and Inverse Head & Shoulders +25% > Stoploss @ SMA200D zone -8% > Risk reward ratio: 3:1 Always trade with affordable risk and respect your stoploss
SET:WHALong
by dukeposh
UNISWAP amazing bull elliott count!UNISWAP is one of my favorite alt bull counts. If we zoom out this could have been the major 2 proceeding into a massive 3 to new all time highs. The first wave 1 (blue count) has ended in a beautiful golden zone retracement finishing the WXZ. And thus, the possibility of the first 1-2 into the new bull cycle begins. A fantastic tell about this setup would be breaking the high of the purple wave 1, while holding the low of the wave 2. Setting up another 1-2 1-2. Do not miss this one!
Long
by Gojira-san
AUDUSD : Elliot Price Action 1Hr Aussie Dollar AnalysisRBA appears less hawkish after shock 25 bps hike in OctoberDiverging pace of future rate hikes may leave AUD susceptible to the downside into year endAUD/NZD, AUD/USD price action setups analyzedRBA Appears Less Hawkish after Shock 25 Bps Hike in OctoberThe RBA shocked markets on the 4th of October when it decided to hike the target cash rate by a mere 25 basis points after 4 consecutive clips of 50 bps prior, citing sizeable frontloading.But in the one-hour chart of this currency, we see an ABC correction wave, and now we are on the path of wave c and the third and fifth wave of this correction, and we continue to expect this currency to fall again.
Short
by RezaBorzooei
BAC - Bank of America (full monthly chart)A difficult chart to label. On an linear scale it looks like an expanding ending diagonal, BUT on a logarithmic scale it looks like a contracting ending diagonal. I chose the latter, even though it, in theory, violates the rule (the first wave is shorter than wave 3). Still, the rule is not violated on the linear scale. It's also possible the move is an impulse wave (in that case the diagonal would be a leading diagonal), but the initial wave 1 of the higher degree looks more like a zigzag. The bottom line is - if the price doesn't enter the price territory of wave 1 (around $19+) it invalidates the pattern and would suggest an impulse wave.
NYSE:BACShort
by PriceActionHelp
AMZN | Wave Projection | Upcoming Fakeout Head & ShouldersPrice action and chart pattern trading: > A possible ABC downtrend correction scenario with a upcoming fake breakout head & shoulders formation > Key dynamic resistance EMA50W and EMA160W > S Entry @ EMA50W and downtrend upper resistance zone > TP1 @ 0.786 fibo extension +35% > TP2 @ 1.0 fibo head & shoulders target +45% > SL @ B-wave head position -15% > Risk reward ratio: 2:1 and 3:1 > Indicator: RSI week bullish momentum supporting the uptrend resistance false breakout Always trade with affordable risk and respect your stoploss, nothing 100%
NASDAQ:AMZNShort
by dukeposh