LINK - Ending DiagonalBIST:LINK - Possible Ending Diagonal
These moves usually imply a "Dramatic Reversal Ahead"
Elliottwaveretracement
EURUSD → A false breakout leads to a correction. 1.080?FX:EURUSD is forming a correction after a false breakdown. The movement is formed after updating the local highs. The fundamental background for the currency pair is positive.
The false breakout occurs against the resistance at 1.0885, as well as the rising line limiting the trend. If the fundamental background persists, in this case the correction will not last long and the global bullish movement may start to recover. On H1 it is worth paying attention to the support: 1,080 (liquidity area), which the price may test. This boundary may become the lower zone of the new range, which may confirm the change of trend.
Support levels: 1.080, 1.0766, 1.0736
Resistance levels: 1.0884, 1.0942
Technically, a false breakdown of resistance and corrective downward movement is forming. Today there is no strong news and movements can be calm.
Regards, R. Linda!
GOLD → Consolidation continues. What's next, 2400 or 2200?FX:XAUUSD is testing the resistance of the range, the market maker is capturing liquidity around 2328 and is not ready to let the price go yet. Trading inside 2328 - 2300 continues.
On Sunday we discussed the bullish trend, correction and the fifth wave that may get its start after the end of the correction. Yesterday price tried to form a confirmation of the end of the correction, but 2328 was not broken and trading in the correction phase continues. A retest of the range support is possible before a further rise to resistance.
There are two risk areas that will affect the medium term:
Breakout of 2328 and consolidation above the level will confirm the readiness to go up to 2382.
A break of 2300 and consolidation below the level will confirm the readiness to go down to 2267
Resistance levels: 2328, 2344, 2352
Support levels: 2305, 2300, 2295
Trading within the consolidation range continues while the dollar is also standing still. At the moment it is worth considering trading inside the range, and when breaking through one or another boundary to take the principles of trading in the breakdown.
Regards R. Linda!
GOLD → Correction may continue ↓ before further growth ↑FX:XAUUSD continues to form the phase of correction. The price stops in the zone of 0.236 fibo, but the candlestick setup on D1 is forming multidigit. The struggle between buyers and sellers for 2285 continues.
Last week was fundamentally rich, but the market reaction is weak, sellers are actively selling out any buying activity. A pre-breakdown setup is forming around 2285, and if it is not broken, the correction will extend to 2222 (2195). The signal to the continuation of the fall will be the fixing of the price below 2285. But, with active participation of buyers, which may be caused by fundamental and geopolitical reasons, the market may break the structure: Break of resistance and price consolidation above 2320-2325. This will mean the end of correction with further continuation of growth and formation of the fifth wave, the target of which could be the area of 2450-2550.
Resistance levels: 2320 - 2325, 2350.
Support levels: 2305, 2295, 2285
The global trend is bullish, the local trend is bearish (correction). Take this into account when trading! It is necessary to wait for price confirmation, which will mean either the continuation of the correction or its end. Only then you can take some measures to open orders in one or the other direction
TVC:DXY MCX:GOLD1! COMEX:GC1! CAPITALCOM:GOLD
Regards R. Linda!
XPEV Elliot Impulse Wave I think that NYSE:XPEV completed the Elliot WXYXZ correction wave in April 2024, which started in July 2023.
I think that the major Elliot wave, which I am currently showing with the red line, has started 3 impulse waves. I think that this 3rd impulse wave will make the 1st wave. This impulse movement can take NYSE:XPEV up to $13-$15.
Take Profit Point 1: $10.2
Take Profit Point 2: $13
Take Profit Point 3: $15
Invalidation Level: $6
NZDUSD → Correction to MA-200. The fall may continue FX:NZDUSD bounces and strengthens towards MA-200 and resistance of the current trend on H1 against the backdrop of the dollar index correction.
On D1 the medium-term outlook is clear. There are no prerequisites for the change of the global trend and most likely the fall after the resistance retest may continue. The dollar also at the moment does not give signs of reversal and fall, respectively, the bearish medium-term outlook for the currency pair NZDUSD is still relevant.
Resistance levels: MA-200, Channel Resistance, 0.6000.
Support levels: 0.5940, 0.5875
The global trend coincides with the local trend and has a bearish direction. On H1 a correction is forming, which may be over soon, after which we should wait for a decline to 0.5875.
Regards R. Linda!
FUBO Elliow WXY Double CorrectionFUBO started its rally from $0.96 in March 2023 and reached $3.87 in August 2023. Since August 2023, it has been declining with the Elliot WXY correction wave.
I think this correction will continue until the gap at $ 1.18 is filled. My guess is that this correction will continue until around $ 1.12-1.2. Unless it goes above $1.9, I am short FUBO.
ARKK Elliot Wave ABC CorrectionARKK started its rally in November 2023 and reached $54.52 in December 2023. Since this date, according to Elliot Wave Analysis, it may be making an ABC correction. ARKK, which made the A wave by falling to $ 44.63, then rallied to $52.06 with the B corrective wave.
As long as ARKK stays below $52.06, ARKK may be making wave C. At the end of this movement, it may fall between $40.35 and $42.59.
Gold Correction Due - before this week market closePEPPERSTONE:XAUUSD
Following the principles of #ElliotWaves, when waves 1 and 3 form without any extension, then wave 5 tends to make approximately the same magnitude in the same amount of duration.
Wave 1 - Magnitude - ~ $76+ in ~ 2 D and 17 hrs
Wave 5 - Magnitude also made ~ $76+ (Short of 60 cents) in ~ 2D 11 hrs as of this post.
In this scenario, when there was no extension in the impulse waves, the correction would be till 0.618 to .50 Fib Retracement Level 2226 - 2200 Range.
AUDUSD ELLIOT WAWE PRINCIPLEAll drawn lines were made by measuring on Fibonacci. Buying and selling points are indicated on the lines. These are my personal opinions. It is not investment advice.
TSLA Recovery to $4001D Chart
From a technical viewpoint, Tesla ( NASDAQ:TSLA ) is setting up for a short-term recovery to the $200-210 range before another steep correction. Should significant support be met around the $100 range, a sharp recovery back to previous highs near $415 will be in sight. The following patterns are visible on the 1D chart:
Impulse and Correction Waves
Because the 1, 3, & 5 Impulse Waves were in the down direction, then according to Elliott Wave Theory, the Correction Waves (ABC) should see the beginning of a rally. Wave A will move opposite of Wave 5 and should lose momentum between $200-220 which are 50% & 61.8% Fibonacci Retracement levels respectively. Wave C would develop a double bottom setup that could propel TSLA back to $300.
Head & Shoulders
If the Elliott Waves do not prove valid then a H&S pattern is likely with a right shoulder peak meeting resistance between $200-220 before sending share prices back to a low of $100. I am less confident of this pattern as it appears a premature recovery is about to begin. The neckline rests around $150 but Money Flow Index is already in severely oversold territory and the On-Balance Volume has an overall positive slope.
Double Bottom
In the unlikely event that the H&S comes to fruition then I believe it will serve as the setup for a larger double bottom pattern. Stepping back for a better bird's eye view, the On-Balance Volume has a healthy positive slope and Money Flow Index is in oversold territory. However this pattern will take months to develop so it is too soon to begin loading up for this particular trade as a swing or day trader.
$PLTR ELLIOT WAVE ANALYSIS This analysis reflects my perspective on NYSE:PLTR through the lens of Elliott Wave theory. I acknowledge the potential for error and welcome any feedback or alternative viewpoints.
After thorough analysis, it seems that NYSE:PLTR has concluded its impulsive phase and is now set for a significant downward movement. Currently navigating through sub wave C of wave 2 correction, it's anticipated to retrace to approximately the 0.618 retracement level, marked by the green rectangle, which serves as a pivotal point due to robust support. Although this projection isn't definitive and relies on typical wave 2 correction patterns, it provides a useful estimate for potential price movement.
GOLD → Friday sales, price in sideways movement FOREXCOM:XAUUSD was ready to overcome the resistance of the 2062 range, but Friday's NFP, with sharply unexpected data of 353K ruined the temporary plans of buyers. The dollar is building strong momentum and continues its strengthening trend.
pic: Long-term bullish trend. The price is trading at its maximum values
On the 2-week timeframe we see a strong bullish trend, price is trading at its highs and is likely to continue to test the extensive resistance area for a breakout. The reason for this is the high interest in the world during the geopolitical instability, banking crisis, and the huge interest from the world Central Banks, which continue to buy the asset.
Fundamentally, gold is no longer actively reacting to the conflicts in the Middle East, but investors continue to buy the metal as a safe haven.
Last week Powell made it clear that they will cut the interest rate, but not in March, which disappointed investors a bit, but Friday's NFP, which was apparently bogus, formed a strong sell-off at the end of the week ( high NFP with high jobless claims... ).
In the coming week, we should expect the FED chief to speak, as well as other members of the Federal Reserve. On Thursday, Initial Jobless Claims is worth paying attention to.
pic: Sideways price movement in the gold market. Neutral position between bears and bulls
Locally, on H1, gold is in the 2064-2016 range. Also, there is a strong support area at 2031 from below, after a false break of which the market is buying back the decline a bit. Technically, gold is strong and quite confidently can defend its positions on the background of the dollar growth, but on the background of panic and imbalance from the support, the Market Maker can form another long-squeeze relative to the lower levels. It is also worth paying attention to the fact that the price is still in the range. It is difficult to trade inside the range, so I advise you to look for strong levels or zones.
Resistance levels: 2057, 2064, 2040
Support levels: 2031, 2020, 2016
OANDA:XAUUSD TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY
Regards R. Linda!
$UBER COMPLETE ELLIOT WAVE ANALYSIS Elliot wave analysis indicates that NYSE:UBER is currently in wave 3, Following a rebound from the 0.764 extension, it becomes evident that Uber is poised to advance towards the 1.618 extension, with the potential for further extension beyond, considering the substantial duration of the initial wave.
$W ELLIOT WAVE ANALYSIS This analysis reflects my perspective on NYSE:W through the lens of Elliott Wave theory. I acknowledge the potential for error and welcome any feedback or alternative viewpoints.
Based on my analysis, it appears that NYSE:W has completed its corrective phase and is now poised for a robust bullish trajectory, forming a leading diagonal pattern. Both wave 4 and its sub wave B seem to have concluded, leaving only sub wave C and wave 5 remaining for completion. I anticipate wave 5 reaching approximately the 0.764 extension before undergoing a corrective phase in line with wave 3.
$DAL ELLIOT WAVE ANALYSIS This analysis reflects my perspective on NYSE:DAL through the lens of Elliott Wave theory. I acknowledge the potential for error and welcome any feedback or alternative viewpoints.
Please note that the unfulfilled waves are provided for contextual reference and do not indicate precise targets. Based on my assessment, it appears that NYSE:DAL is currently in wave 3, suggesting strong bullish sentiment for the foreseeable future.
$BABA COORECTED ELLIOT WAVE ANALYSIS In my Elliott Wave analysis of BABA, I've observed a corrective pattern since its inception, with the peak occurring during the 2020 bull market. The correction seemed to have ended when BABA hit bottom in 2022. Following this, it appeared to start a new upward wave (wave 1), followed by a corrective phase (wave 2), which now seems to be complete. It's important to note that the placement of the other waves is solely for identification purposes and does not indicate any specific targets. This suggests that BABA could be gearing up for a bullish wave 3, making it quite promising for the long term.
$BABA COMPLETE ELLIOT WAVE ANALYSIS Based on my Elliot Wave analysis of NYSE:BABA , it appears that the stock has been following a corrective pattern since its inception, with the peak occurring during the 2020 bull run. Since then, it has been in wave B, currently progressing into subwave C of wave B. The trend is strongly bearish, indicating a downtrend.
I anticipate wave B to conclude around $18.90, although this is an estimation derived from Fibonacci ratios and could potentially fluctuate between $58.01 and $18.90. However, considering the length of sub wave A, the likelihood leans towards the $18.90 mark.
CHAINLINK ELLIOT WAVE ANALYSIS Navigating this chart poses quite a challenge given the intricacies of the candlestick formations. Despite this complexity, I've endeavored to apply my understanding of Elliott Wave Theory to analyze and potentially forecast future movements. However, I acknowledge the possibility of error, whether it's due to miscounting waves or other factors. I welcome alternative perspectives and suggestions.
Upon studying the chart, it appears that CHAINLINK has been undergoing a corrective ABC wave pattern since its inception, reaching a peak in 2021 before embarking on a corrective phase. The analysis becomes particularly nuanced due to nearly a year of consolidation, forming a triangle pattern likely indicative of the final wave C within its correction. If my interpretation is accurate, CHAINLINK has recently completed wave 1 and is poised for a correction with wave 2. This correction may target the 0.764 extension level or potentially fall below it. At present, the short-term trend appears bearish while the long-term outlook leans bullish.
Asian Paints | Seems in a triangle|Elliott Wave Analysis#Asian Paint | #Elliott #Wave #Analysis | where is support?
Hey guys please find the #analysis of the #asian #paints ltd.
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BTC ELLIOT WAVE ANALYSISIn my evaluation of BTC using Elliott Wave analysis, I've observed that following its peak in 2021, BTC underwent a significant correction on a larger timeframe. This correction could manifest as either a flat corrective pattern or an extended wave B. Presently, we find ourselves within sub wave C of the overarching wave B, specifically in wave 4 of sub wave C.
While I remain uncertain whether wave 4 has concluded, I anticipate its completion by the next week. If the market exhibits an upward movement during this period, it will signify the conclusion of wave 4, paving the way for the initiation of wave 5 targeting the ATH (All-Time High). I welcome and am open to any opinions or suggestions for refining this analysis.
$TSLA COMPLETE ELLIOT WAVE ANALYSIS According to the Elliott Wave theory, NASDAQ:TSLA has been following a corrective wave pattern (ABC) since its inception, reaching its peak during the 2021 bull run. Currently, NASDAQ:TSLA has completed both wave 1 and wave 2, entering the critical and highly impulsive wave 3 towards the downside of the Elliott Wave sequence. The fundamental outlook for NASDAQ:TSLA appears weakened due to intense competition in the market. In the long term, NASDAQ:TSLA is displaying a heavy bearish trend.
While specific targets for the remaining waves are uncertain at this time, one thing is clear – NASDAQ:TSLA is not expected to surpass wave 2, which is positioned at $299.
NASDAQ COMPLETE ELLIOT WAVE ANALYSISI have identified all the wave counts visible on the weekly chart, and while they make sense to me, I acknowledge the possibility of errors, given my relatively new exposure to Elliott Wave analysis. It's evident that we are currently within wave B in the overarching wave count. Anticipating an extended wave B due to various sub waves I have listed; my expectation is for wave B to reach the designated green pivot area before completing wave C well below the 2022 low.
