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Elliott Wave

Correction down for SPX500USDHi traders, Last week my analysis of SPX500USD had been chosen for the Editor's Picks of Tradingview. It was very funny to read many comments that my analysis was wrong and that it was more likely that this pair would drop then rise. Now a week later we see who was wrong and who was right and who made a profit. As a trader you always have to trust your own analysis. Don't listen to other opinions because that is mostly the losing mass that is speaking. I do this for 10 years and I know what I'm doing. Now next week we could see the finish of wave 5 and after that a bigger correction. Trade idea: Don't trade. Wait for the bigger correction down to start. After a change in orderflow to bearish and a correction up on a lower timeframe you could trade (short term) shorts. If you want to learn more about wave analysis, please make sure to follow me, give a like and respectful comment. This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide signals. Don't be emotional, just trade! Eduwave
OANDA:SPX500USDShort
by EduwaveTrading
1
S&P 500 Market Update + Trade Idea and process AMEX:SPY S&P 500 Review I would like to start off by saying my previous post from October 24 outlined this correction almost to the exact T. From $585 to 565. That is a 20 point move. I say this not in arrogance or self conceit but to provide context. Combining Corrective waves Zig zag / irregular flat/ zig zag (missing) I believe we are still in a corrective phase in the market. For Ew followers I believe this would be called an irregular correction. it is a complex correction. I recently learned of this pattern from other great ew traders. Starting with a zig zag correction ( A B C) \/\ down up down - picture a ball bouncing from a higher structure and gradually bouncing lower. Then it rotates into second structure this one similar to the first but more momentous down up down. If I am not mistaken we are near ending the second leg ⬆️ up. that means we should be rotating ⬇️ down next. If I had to provide a Price target for the full last leg I would say back to 565 or lower. Now this could be completely invalidated there has been so much volatile price swings, however the more you know the better you can prepare. (Now the fun part) One thing I find difficult about trading is all the information out there. So many theories and data but yet it has no benefit to me if I cannot make a decision. As a new trader I would say a great chunk of the information out there does not lead to decision making. Trade framework💡 Let’s walk through a trade plan from start to finish. Assuming everything is correct where price goes in the short term is irrelevant. If it goes to $700 in a day doesn’t matter. A) I would be looking for reversals. 1. Using candle stick patterns ie. bearish Engulfing or evening star patterns. 2. triangle patterns ie rising wedge. 3. Double Top (huge reversal at a set level) entry on second reversal / entry on third confirmation candle. Stop loss slightly above first candle level. 4 Head and shoulders pattern That is it! B) I am targeting the areas of resistance. Questions to ask yourself. 1. What are some areas price gapped up from but never revisited. (Mark out the gaps). Trading into those zones. 2. What were some major resistance level before and has it been retested as support? Mark out strongest levels. 3. Where would buyers lose confidence. This is contrarian trading. Trading against the popular view. If I was a buyer & price reversed on me where would I sell? These are the area you should be looking for major moves your area of opportunity. (Tight stop loss). Stop loss should be tight. Re-entry is ok. Suffer 1000 tiny cuts vs a guillotine. 1. If price breaks above 600 & then fails I would be looking to open a short position targeting the 586 level. Multiple positions ie. open 4 positions Sell one before $593. 2 at 586. Hold unto final position - to see if price falls further. Sell for profit if prices bounces hard. Look for re-entry. #spy #500 #index Will create a video to go over my chart. NFA! Do what’s best for you.
AMEX:SPYShort
by coilemard
4
More downside for EUHi traders, Last week EU did exactly what I've said in my outlook. The correction finished into the Daily FVG and 38.2 fib retracement and dropped from there. For next week we could see a small correction up into the FVG above and from there a drop lower. Let's see what the market does and react. Trade idea: Wait for price come into the FVG above and trade (short term) shorts after the finish of a correction up on a lower timeframe. If you want to see more from my analysis, please make sure to follow me, give a like and respectful comment. This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide signals. Don't be emotional, just trade! Eduwave
Short
by EduwaveTrading
Next Upisde move of the market belongs to TSLA !TSLA can make many investor rich once more ! TSLA has more than likely completed it's major correction at 1 01.8 USD on 6th Jan 2023 similar to many other giant stocks . This scenario matches with my best case scenario for PSX published before which proposed the previous bear market as just correction of the bull run after pandemic low. TSLA's major correction has been labeled as primary degree wave 2 on the chart which was terminated at 0.74 Retracement of the whole major up going wave from IPO to ATH . Mentioned large upside move has the label of primary degree wave 1 on the chart. This means that TSLA has started its major up going primary degree wave 3 which at least can push up the stock's price to 770 USD and even much more in long term. AS shown on the chart , Stock price is reaching to a strong resistance zone at 300-315 which is confluence of two strong static resistances and major down trend line. This strong zone may make an another great buy opportunity to traders and investor if it can push the price back down to 180-217 buy area. Please note many giant stocks made a new ATH while TSLA is far from the top. This suggests that next upside move of the market belongs to TSLA . If true, current ATH will be like a baby comparing to the future giant one. Wish you huge profits and Good Luck.
NASDAQ:TSLA
by SaeedSajedi
18
EURUSD_4H&1D_Buyhello hello 💠Eurodollar analysis in the medium term time frame The analysis style is based on Elliott waves According to the completion of 5 downward waves, there is a possibility that we will be the bottom price range and the market can only go up by keeping the number 1.06666 as the main support. 💠The important number of this week is 1.07777 Target and resistance 1.10000 Eurodollar analysis in the medium term time frame The analysis style is based on Elliott waves According to the completion of 5 downward waves, there is a possibility that we will be the bottom price range and the market can only go up by keeping the number 1.06666 as the main support. The important number of this week is 1.07777 hello Eurodollar analysis in the medium term time frame The analysis style is based on Elliott waves According to the completion of 5 downward waves, there is a possibility that we will be the bottom price range and the market can only go up by keeping the number 1.06666 as the main support. The important number of this week is 1.07777 Target and resistance 1.10000Target and resistance 1.10000
Long
by Elliottwaveofficial
Bitcoin - If you buy, you can get REKT in 2025! (Insider Info)Bitcoin is forming a historical bearish divergence on the weekly chart. As we can see, the price is making higher highs, while the RSI indicator is making lower highs. Historically, Bitcoin reacts to the divergence very successfully, and a lot of traders use it as a main indicator. Bitcoin can fall to 38k - 44k, so if you buy now, you can experience a massive loss if you are going against the RSI divergence. Best to open a short position, stop loss 81k. This bullish flag looks like a trap for retail traders. Intelligence people know that Bitcoin can have an infinite supply. It's nothing more than a computer program, and it can be modified. And they will give you good reasons to increase Bitcoin supply in the future, such as World War 3. And sheep will say yes, let's print more Bitcoin to end the war. Once Bitcoin becomes the world's digital currency, controlled by the FED as they plan to do so, you will hate Bitcoin. In a previous article, I said that crypto technology is not new and nothing special. This technology was brought to earth by alien entities. Crypto technology is already used on thousands of different planets in the galaxy. In fact, crypto is another version of the fiat money printing system. You probably heard about Greys, Reptilians, and Draconians. When you look at them, you will notice their ugly appearance. Nature hates them; that's why they are very ugly. Their intelligence is extremely low compared to humans, and they take instructions mostly from the AI. Write a comment with your altcoin, and I will make an analysis for you in response. Also, please hit boost and follow for more ideas. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
Long
by Xanrox
220
Alikze »» ETH | Wave 3 or rising C scenario - 8H🔍 Technical analysis: Wave 3 or rising C scenario - 8H - According to the analysis presented in the weekly time frame, after a short growth, it has entered a corrective phase up to the green box area, so we expect it to enter an upward phase up to the dynamic trigger area. - It is moving in an ascending channel in the 8-hour timeframe. - The 2062 range of wave B correction is over. - After the demand in the range of 2062, a complete movement cycle in the form of 5 waves towards the ceiling of the growth channel has continued. - A double top has been created in the area of the channel roof, which has entered a correction phase after that. - The corrective phase has completed a 5-wave cycle to the origin of the movement of the 2310 range. After that, it has a three-wave pattern up and a three-wave correction that can now enter the 3-of-3 microwaves. - In the first step, this upward cycle can continue until the supply zone (the first red box), after which it can have a short correction. 💎After that, it is expected that the big wave 3 in the middle of the channel, after a temporary correction, will enter the next bullish phase to the second red box range. 💎Therefore, the second step of the movement can have the goals of 3200 to 3500. ⚠️ In addition, in case of touching the range of 2151, the bullish scenario in the 8H time frame will be invalidated and should be reviewed and updated again. ⚠️ »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« KUCOIN:ETHUSDT
Long
by alikze
Wheaton Precious Metals (WPM): Fibonacci Levels to WatchToday, our focus is on gold mining stocks, with earnings reports from Barrick Gold TVC:GOLD and Wheaton Precious Metals NYSE:WPM in the spotlight. We’ve zoomed out on the NYSE:WPM chart to assess the overall structure and identify longer-term opportunities. Building a portfolio with some exposure to the commodity market is, in our opinion, a solid strategy for diversification. NYSE:WPM appears highly correlated to Gold OANDA:XAUUSD and is currently sitting on a crucial trendline while hovering in the minimum target area for wave 3. A drop into the $78.5-$68.5 range seems plausible to establish the wave (iv). Ideally, the stock would then resume its upward trend, targeting higher Fibonacci levels for wave 3. In the broader picture, Wheaton Precious Metals responds well to trendlines, and a potential move into the $64.2-$52 zone could also occur over time. If Gold continues to rise, NYSE:WPM may follow suit, and during Gold’s peak, mining stocks like NYSE:WPM could outperform the physical commodity significantly. We are closely monitoring this setup and evaluating whether to execute it. Remember to always conduct your own research before making any investment decisions!
TSX:WPMLong
by freeguy_by_wmc