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Elliottwaveprojection

BBGI | Wave Projection | Upcoming Inverse Head & ShouldersPrice action and chart pattern trading setup: > Possible upcoming ending diagonal of intermediate 5-wave downtrend with inverse head & shoulders > Entry @ breakout neckline > Target @ approximately the height of the head 9 baht > Stoploss @ upcoming right shoulder minor 5-wave > Risk reward ratio: 2:1 with downside -6% Indicator: > RSI +50 cross MA and MACD bullish divergence Always trade with affordable risk and respect your stoploss
BLong
by dukeposh
Bitcoin - Forecast with Elliot WavesHi Traders, Investors and Speculators📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. The Elliott Wave theory is named after Ralph Nelson Elliott (28 July 1871 – 15 January 1948). He was an American accountant and also an author. Inspired by the Dow Theory, Elliott concluded that the movement of the stock market could be predicted by observing and identifying a repetitive pattern of waves. I find this another useful take on market cycles/phases, R Elliot is considered one of the 5 titans of chart analysis. Let's take a BRIEF look at the Elliot Wave Theory: Simply put, movement in the direction of the bullish up-trend is unfolding in 5 waves while any correction against the trend is in three waves (called corrective wave). From this you can already conclude that there is no specific time frame limit - you can have multiple waves in a larger wave, for example: The movement in the direction of the UP-trend is labelled as 1, 2, 3, 4, and 5. The three-wave bearish correction is labelled as A, B, and C. These patterns can be seen in long term as well as short term charts. Smaller patterns can be identified within bigger patterns. Think of it like this: Elliott Waves are like a piece of broccoli🥦 , where the smaller piece does in fact, look like the big piece. This information on smaller patterns fitting into bigger patterns, offers the trader a level of anticipation and/or prediction when searching for and identifying trading opportunities with solid reward/risk ratio. The world is changing at an exponential rate, and some changes need to be considered as we take a look and plot the waves. We have five major classes of market: Stock market, forex market, commodities market, cryptocurrency markets and bond markets. The Elliott Wave Theory was originally derived from the observation of the stock market (i.e. Dow Theory), but certain markets such as forex exhibit more of a ranging market. In today’s market, 5 waves move still happen in the market, but many analysts recently suggest that a 3 waves move happens more frequently in the market than a 5 waves move . In addition, market can keep moving in a corrective structure in the same direction. In other words, the market can trend in a corrective structure; it keeps moving in the sequence of 3 waves, getting a pullback, then continue the same direction again in a 3 waves corrective move. So not just ABC, but possible ABCABCAB etc. until a bottom is established via candlestick analysis. To conclude, don't be too rigid with rules especially considering the ever changing markets and the fact that the Elliot Wave theory was originally designed for stock markets. However, this does not make it obsolete ! By combining a few of the methods mentioned above, one can get a reasonable idea of which market phase we are trading in and confirm it by taking a look at the charts from multiple perspectives and theories. Currently, I enjoy using Wyckoff Method, Elliot Waves, Fibonacci Retracement + trend based Fibonacci Extension , Candlestick analysis, Chart patterns (occasionally) as well as major supply and demand zones / whale zones. I like to use support zones and resistance zones for lower timeframes / the lower the timeframe analyzed, the higher the risk. __________________________ 👀Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 📉 Hit like & Follow 🔔 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
64
CADJPY Triangle Gives Us Clear Entry for a BuyTriangles are always a treat to find on the charts. This is because the pattern provides an entry signal that is clear and easy to execute. In Elliott Wave Theory, a triangle pattern consists of 5 internal subwaves, ABCDE. When those subwaves are complete, a break of the triangle is expected in the direction of the trend that occurred prior to the triangle. In this case, we are expecting a thrust to the upside, now that wave (e) is potentially complete. Triangles always come before the final move in the larger term wave sequence. In CADJPY, this means we are expecting one more wave to the upside before price corrects to the downside. The triangle pattern gives us everything we need to catch that final bull move. Price must remain above the invalidation level of 103.34 for this interpretation to remain valid. At minimum, we expect a move to the previous highs. We are targeting the 108.00 handle as our initial profit target. There is a good reason for this too... comment below if you want to learn how Elliott Wave Theory can help you find high probability targets as well. At Parallax, we focus on wave analysis and 1-on-1 education to build a foundation of skills that give our clients the edge. We trade Crypto, Forex (FX), and equities. We keep our analysis simple, clear, and easy to execute. Comment below if you would like to see more trade ideas, Elliott wave analysis, and market updates
Long
by ImreSG
6
MATICMatic seems to be done with the W1. If the c wave bottom is in as my chart suggests then we are coming back into W2 now or after $1.17 tests. The W2 can finish around .55c-.62c to retest B wave of the 1 shown off the lows of the triangle. Either way this move looks exhausted. If the C wave is not finished and this move up was the 4th of the 5 down for the C wave Flat correction from the 2021 highs then to that point MATIC will likely test .23c and finally bottom. Only time can tell but I lean towards this chart projection.
M
by Big_Mike716
Bitcoin. Bearish Idea. I published bullish idea but also have bearish Idea that needs to be pointed out. There is a bearish order block near near 29-30k level that is confluent with .386 of the high of 1st macro pivot. Also, another target at golden pocket of local pivot with .386 of macro high. It would make more sense that a zigzag (5-3-5) "should" have equal size leg (1-1 extension). All options should be on the table and make sure all validation and invalidation points are marked and go from there.
BYBIT:BTCUSD.P
by sumingu79
WHA | Wave Projection | Inverted H&S Bull DivergencePrice action and chart pattern trading setup: > Wave projection possible intermediate 4-wave rebound with inverted head & shoulders reversal pattern and MACD bullish divergence > Entry @ Neckline pullback > Target @ H&S Target or 0.386 retracement of previous 3-wave +6% upside > Stop @ right shoulder - 3% downside > RRR: 2:1 The downtrend target C-wave or final 5-wave estimated at 0.786 of the last B-wave Always trade with affordable risk and respect your stop
SET:WHALong
by dukeposh