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Polyplex Corp: Analyzing Wave (5) Projection and SupportTechnical Analysis of Polyplex Corporation Ltd. Elliott Wave Counts and Structure The chart illustrates a possible Elliott Wave count on a weekly time frame, identifying key waves and corrective patterns. Here’s a detailed breakdown: 1. Primary Wave Structure: - The chart shows an unfolding five-wave impulsive structure, with Waves (1) through (4) completed, indicating a bullish phase followed by corrective waves. - Wave (1) is observed in November 2010, and Wave (2) is identified around September 2013. - Wave (3) peaks significantly higher than Wave (1), indicating a strong bullish phase, and completes near April 2022. - Waves 1, 2, 3, 4, and 5 within Wave (3) are clearly marked, showing the internal structure of this impulsive wave. 2. Corrective Waves: - After the peak of Wave (3), the chart illustrates a complex corrective pattern labeled as W-X-Y-X-Z. - This correction appears to end at Wave (4), indicating the start of a new potential impulsive wave (Wave (5)). - The corrective waves show significant price declines, characteristic of Elliott Wave corrections. 3. Current Scenario and Target: - The current price action suggests the initiation of Wave (5). - The target for Wave (5) is projected to be above the high of Wave (3), which is near 2880 INR. - An upward arrow indicates the bullish outlook, projecting the price towards this target level. 4. Invalidation Level: - An invalidation level is marked at 751. If the price falls below this level, the current Elliott Wave count and bullish scenario would be invalidated. - This level acts as a critical support, below which the wave count may need to be re-evaluated. Summary and Considerations - Bullish Outlook: The primary analysis suggests a bullish wave (Wave (5)) is underway, targeting levels above the previous high of 2880. - Key Support: The invalidation level at 751 is crucial for maintaining the bullish scenario. - Risks: As noted in the disclaimer, Elliott Wave Theory involves multiple possibilities and inherent risks. It's important to consider this analysis as one potential scenario. Investors and traders should consult with financial advisors and consider broader market conditions, as well as other technical indicators, before making investment decisions based on this analysis. This analysis provides an educational perspective on using Elliott Wave Theory for Polyplex Corporation Ltd. and highlights the importance of monitoring critical price levels to validate the wave counts. 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:POLYPLEXLong
by RK_Chaarts
4
Wave (3) Awakening: Shri Jagdamba Polymers Ltd. AnalysisOverview: Shri Jagdamba Polymers Ltd. has completed Wave (1) and Wave (2) in blue of Intermediate degree on the weekly chart. The stock now appears to be starting Wave (3) in blue, which should unfold into five subdivisions as Wave 1-2-3-4-5 in red of Minor degree . Currently, Wave 1 in red has finished its subdivisions as Wave ((i)) and Wave ((ii)) in black of Minute degree . Now, Wave ((iii)) in black of Wave 1 in red seems to be starting, indicating a bullish outlook. Wave (3) Characteristics: - Strong Impulse: Wave (3) is typically the most powerful and extended wave, characterized by strong upward momentum. - Fibonacci Extension Target: If Wave (3) in blue reaches 161.8% of Wave (1)-(2) , the price target can be approximately 3300 . - Subdivisions: Wave (3) subdivides into five smaller waves (1-2-3-4-5 in red of Minor degree), with each smaller wave further subdividing (e.g., Wave 1 in red subdivides into ((i)), ((ii)), ((iii)), ((iv)), ((v)) in black of Minute degree). Current Technical Setup: - Current Price: Observing the price action. - Key Levels: - Invalidation Level: 450 (marked as the low of Wave (2) ) - Fibonacci Extension Target: 3300 Technical Indicators: - Wave ((iii)) Starting: The initiation of Wave ((iii)) in black of Wave 1 in red signals potential strong bullish momentum. - Bullish Outlook: The completion of preliminary waves ((i)) and ((ii)) in black suggests that a significant upward move is likely ahead. Risk-Reward Analysis: - Risk: Low risk with the stop-loss set at 450 . - Reward: High potential reward with a target of 3300 . - Risk-Reward Ratio: Favorable due to the substantial upside potential and defined risk level. - View: Long term Investment pick. Trading Strategy: - Consider entering a position as Wave ((iii)) in black of Wave 1 in red unfolds, with a stop-loss at 450 . - Monitor for further confirmation of upward movement and add to positions as Wave ((iii)) progresses. Conclusion: Shri Jagdamba Polymers Ltd. is poised to start Wave (3) in blue of Intermediate degree , characterized by strong bullish momentum. The current setup indicates the start of Wave ((iii)) in black of Wave 1 in red, offering a compelling risk-reward opportunity. Monitoring the progress of these waves and the overall price action will be crucial for optimizing entry and exit points. 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.
BSE:SHRJAGPLong
by RK_Chaarts
4
Spy continues to near its target of 570 before U.S. electionsWith the dollar trending down and the VIX at low levels, we can then continue to expect the U.S. stock market to continue to rise. And, in fact, that is what we are witnessing as we close in on the blow-off top target of the Elliot Wave theory that has resonated with my instincts for these last 2 and a half years. We are currently in wave 5 and on our way to the target I have set of SPY 570-600. There is still time and I believe we will easily get there before U.S. election shenanigans begin to unfold (see my post on the VIX). Once you start to catch wind of anomalous election news events here in the U.S., know that we are near our top. For me, it will be time to pull out.
AMEX:SPYLong
by stewdamus
Solana at a Pivotal AreaWith respect to Solana I'll say two things. First, and probably in jest, I had no idea Venezuela was important to crypto mining. lol. (reference to the news why crypto rallied yesterday). Second, I am still awaiting signs that price has the intention to follow the purple alternative path. The attached Daily chart shows there is a full count to the upside complete with alternating 2's and 4's. Granted this does not preclude price from subdividing in a manner that extends the previous trend, but in those cases, we should see clear evidence of such. As of this morning, CLEAR, would not be a word I would use to describe the current pattern. C-wave is, however the label I would so far characterise as this current pattern. However, if price can rally into the $194 area, and hold the $179 area on any retrace, and then rally for OMH towards the recent highs I can become open to price moving higher. In lieu of that sort of price action playing out I await clues that price is completing it's minor B wave.
BINANCE:SOLUSD
by maikisch
3
Bitcoin - The ATH is STILL COMING ! Here's Why👉📉 BTC-USDT with Elliot Wave Theory Analysis 📈 I've been advocating for Elliot Wave patterns this cycle since I spotted similar fractals across crypto charts. I've been following fractals on SOL, DOGE and BTC - and they have all been extremely reliable thus far. As I've discussed in previous posts, BTC normally stops at a -30% correction. That will put us HERE exactly: The good news about this, is that wen the corrective wave (Wave 3-4) is over, we can expect the final impulse wave up (Wave 4-5). We may yet still see another ATH in the near future! Remember that correction waves also consists out of smaller corrective ABC waves, as seen in the next chart. According to Elliot Wave Theory Math, our next target should be the FINAL ATH : _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck BINANCE:BTCUSDT
Long
by CryptoCheck-
12
Nvidia Retracement Outside of the Standard Target BoxNvidia has moved higher outside of the standard retracements expected. Due to the overlap we could be either dealing with a double zig zag for minor B which is common, or this is a series of nested 1-2's in the purple count. If this develops into the purple count, this will sub-divide towards the $1,100 region. As of this morning I am expecting in the minimum a micro iv and v to complete Minor B. That also puts price in a position to potentially challenge the previous ATH and remain a corrective retrace...that will result in price revisiting the $760 area minimum in a flat for an extended ALT wave 4 in purple. Best to all, Chris
NASDAQ:NVDA
by maikisch
Predicting Bitcoin's Cycle Using the Elliott Wave TheoryGreetings, fellow traders. In this article, we'll be reassessing our annual Elliott Wave counts and going deeper into interpreting Bitcoin's current decade cycle. I'll make sure to segment each part by drawing insights from the previous cycles, also employing the Elliott Wave Theory, and integrating major timeline events to bolster my perspective on Bitcoin's potential trajectory in the upcoming cycle. The wave theory will help neutralize many of the irrational thoughts that other analysts may have that just show straight arrows to the upside. This thesis helps you get a better understanding of where pullbacks and areas of high strength (wave 3 impulses) may occur. Remember, the wave theory will never be perfect in painting the picture, but it will help you be positioned as best as possible with proper invalidation levels. One of the most significant phenomena witnessed in the current financial market landscape is Bitcoin's adherence to a notably algorithmic parabolic trend, where cycles persist in a compounded manner in terms of percentages. This raises the crucial question: "Can we expect all past cycles to mirror the current one?" Answering this is very challenging. However, Bitcoin has one of the strongest strengths against all other coins, which is price history. Fundamentals attached, Bitcoin has been extremely resilient against major events (with wild swings), but the overall trend has remained in tact for over a decade. This indicates not only strength, but true adoption. We must discern whether the price action will evolve into something new or continue the pattern of echoing past cycles (fractals). The most effective method for interpreting Bitcoin's price movements is through the logarithmic chart that is presented in the chart above. When examining past cycles through the lens of only fractals (as that is how it has been for the past decade), the most effective approach to understanding the present cycle is by conceptualizing it as a sequence of nested '1-2' counts. In simpler terms, experiencing a succession of 1-2/1-2/1-2 patterns might lead to either optimistic expectations or impending disappointment. This ambiguity prompts consideration of an alternative bearish perspective, elaborated upon subsequently. Keep in mind, there's always room for firsts, meaning that the failure of the fractal pattern is always a possibility. Again, this idea is further explained in the bearish alternative explanation below. Bearish Alternative: For a more rational approach, the Elliott Wave Theory also suggests alternative pathways. One narrowed down scenario would be that the cycle has now matured, suggesting for a more maturing market with more complexity in corrective types (patterns). The logarithmic chart may indicate a deceleration in the macro timeframe, suggesting that Bitcoin is currently in a maturity phase. Its role as a store of value to say the least. To simply put, the corrections will be far more controlled as investors create larger distribution patterns through the timeline and create demand/sell zones. Price maturity, a concept commonly observed in stock models, implies that markets do not move linearly and eventually reach an endpoint, including in price action. Utilizing the Elliott Wave Theory, we can generate one alternative count that shows the whole cycle is now possibly in a larger 1-2 of some sort: 1. The fact that we have a possible WXYXZ corrective pattern for the 2021-2023 bear market, this may indicate this is part of something larger. Usually, you will see wave 2's have a simple ABC/WXY type patterns. 2. This speculation can then lead us to believe that we could be part of a larger corrective pattern, most likely as a flat pattern now. 3. Consequently, this insight aids in forecasting that we are entering into the new phase of 'market maturity,' or what I like to term as the "flattening of the curve theory." We could debate endlessly about the next bear market for Bitcoin, but the undeniable truth is that over the past 15 years, the market has proven its resilience against political turmoil, hacking attempts, and regulatory crackdowns. It's remarkable to realize that aside from halvings, forks, and institutional adoption, there haven't been any significant bullish events/catalysts. This speaks volumes about Bitcoin's strength. There wasn't any single groundbreaking moment or major catalyst for each bull run. Instead, it was a series of interconnected events that sustained that momentum, leaving it to us as investors to identify distribution points.
Editors' picks
INDEX:BTCUSDEducation
by XForceGlobal
30
ADAUSD | Wave Analysis CUP&HANDLE Formation +200% TargetA potential ABC correction - cup with bull flag / flat handle ABC formation which currently retraced 61.8% of the A/1 wave with a possible a.4-a.5 stop hunt ending diagonal for a second false breakdown. Entry Position: Once price successfully recovered from the false breakdown support zone which could be a few attempts since wave 4 often a complex triangle. Indicator support: RSI bullish divergence in TFD confirmation of the a.5 wave. Target Position: TP1 @ 161.8% and TP2 @ 200% Fibonacci extension +200%! Invalidation: Below the lowest price position. Always trade with affordable risk and respect your stop, Good Luck
COINBASE:ADAUSDLong
by dukeposh
3
Nvidia Elliot Wave AnalysisNvidia on hourly candles respecting elliot impulse wave pattern for year 2024. Wave 2 was a classic 3 wave elliot correction wave pattern. This then breaks into wave 3 and is respecting a very tight channel upwards. Expecting 1000+, back to 900s, then price target of 1100+ post July. Heavy chop in wave 3 due to broader market uncertainties and pressures. This stock trades with higher volatilities than others with its market cap. Trade weeklies with caution. Good long if you're 1yr+ long or 6M+ long option calls. My personal take: Nvidia will be the world's first 10T dollar company by 2027 and will be the world's most powerful and sought after company. Their technologies will ensure continued world peace (including in taiwan) and will be an industry leader for the next quarter century. Only invest money you can afford to lose, not investment advice. Goodluck everyone. *disclaimer: I have a May 17 955C position.
NASDAQ:NVDALong
by JKOMOR
1
Caution: Expect FI (Fiserv) to Sell OffThe fundamentals are looking great for FI no denying that. However, we have a text book 4th wave triangle you can see on the chart then with a thrust into a 5th wave. We have met the measured target of Wave A of the triangle = Wave 5. It's also interested to note a lot of top insiders have been selling at these prices. Also, not shown is monthly divergence, which is expected in a 5th wave. Expect prices to move to at least below Wave 4 around $109 or lower. Once a wave A sell off happens we can project for a wave C projection before prices could move up.
NYSE:FIShort
by adriel.arrasmith
TRXUSDT | TFW Wave Analysis | Massive Bull Move +150% Price action and chart pattern trading setup: > A massive bullish wedge downtrend wave ready for bull rally + 150% upside (0.11+ USD)- strong dynamic SMA200W and wedge TRIPLE PIN BAR trendline support. > The key symmetrical resistance to breakout SMA200D and upper resistance 0.06 price if breakout successfully the next target at 0.07 and 0.09. > Indicator: both Money Flow and RSI bullish divergence in daily timeframe - strong signal for a possible upcoming reversal pattern.
Long
by dukeposh
3
DOGEUSD | ABC Wave Cup Pattern - Target Projection +120%A potential ABC - Cup pattern formation scenario TFW - current multiple falsebreak below 161.8% extension - a sideway / sideway down movement implication > RSI convergence signal supporting wave 3 status > Projecting wave 4 at rounding cup support level, possible 20 week moving average and 100% fibonacci support zone. > Targeting wave 5 at 361.8% fibonacci extension of A wave at the key liquidity resistance level + 120% profit. Always trade with affordable risk and respect your stoploss Goodluck
COINBASE:DOGEUSDLong
by dukeposh
1
ETH : Following BTC, Elliot Correction Wave $2700📉Hi Traders, Investors and Speculators of Charts📈 ETH is currently following BTC along with the rest of the crypto market into a correction wave. By following Elliot Wave Theory, we can find a target for a potential bounce zone for the current corrective pattern. Ideally, we'd want to see a successful bounce from the 50d moving averages here (green), but a wick towards the 100d (turquoise) will not be unusual: Here are my thoughts on Ethereum from a MACRO outlook, for future potential targets: If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets. _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck BINANCE:ETHUSDT
by CryptoCheck-
3
Crypto Has Bottomed! Buy Now!I've been tracking this Elliott Wave count for some weeks now including other coins. We have an obvious 5 waves carved and RSI divergence on the daily/weekly. We now have all the characteristics of a Wave C decline with very rapid price movement declining over the weekend. The Wave 4 bottom was taken out, which can be a spot for liquidity before moving higher and also at the 0.382 Fib level. I am expecting prices to go to $34-$38 next, which will be the 1.618 fib extension of this entire 5 wave move and a previous high where I would expect liquidity to be present.
Long
by adriel.arrasmith