DXY - Ending DiagonalTVC:DXY
Will the US Dollar finally die from this ending diagonal at heavy resistance...?
Elliotwaveanalysis
MANA(based on NEo wave)mana has a good bullish cycle and it is in the E wave in monthly time frame but for now on this chart it has a side triangle that shows the E wave is at the end,
I would like to but some with C wave of stop loss.
#Oil Elliott wave pattern updatePrice seems like is forming a triangle pattern which could either be a wave b or wave 4.
As a result in case of price breaish breakout of triangle we could assume we have a wave c in progress which we could take advantage of.
And in terms of upside breakout then the fifth wave of higher degree is in progress.
If you’ve found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
FTM(based on NEo wave)there is two small ways for wave 5 of wave C on this flat pattern. after wave 5 and breaking the 2,4 line you can buy it and you stop loss is the wave 5.
FTM(based on NEo wave)on this situation for now it is a counter triangle and the E wave looks like a flat pattern,I will share the smaller time frame.
Doge(based on NEo wave)this G wave of broken diametric is a bow-tie diametric .
I have my confirmation to buy it on G wave of bow-tie diametric and my stop loss is E wave.
LINK - A Simple "How To" Guide To Trade BIST:LINK
A simple "how to" guide to trade these corrective patterns from the Elliott's Wave Guidebook
#US30 Best selling opportunityPrice seems to be completing the fifth wave of an ABC bullish corrective move, after which it is likely to move lower to complete its third wave in a higher degree.
The conjunction of the two bullish channels is an optimal price level to sell.
For those who are more risk-averse, they could wait for a bearish breakout of the short-term bullish channel.
If you’ve found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
#oil bearish outlookIt seems like the price has formed a 5-wave bullish impulsive move and could now begin its bearish move.
For the bearish move to be confirmed, we need to see the price breaking below the bullish channel line and also closing below the VWAP.
Bearish confirmations:
Bearish divergence in the 4H timeframe.
Completion of the 5-wave bullish impulsive move.
Momentum oscillator in overbought (OB) territory.
If you’ve found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
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.
Mohit Industries - A buy on Dip candidateHello everyone ,
I am here with a new power pack stock with a cup n handle chart pattern breakout named MOHIT INDUSTRIES (NSE).
technical view
The stock has given a good Breakout in weekly as well as in monthly Time Frame with good intensity of volume.
the stock have sky touch as the breakout is followed by an Extreme Bullish Chart Pattern i.e Cup N Handle.
CUP N HANDLE EXPLAINATION
Cup N Handle is a chart pattern which is mostly used for bullish road map of the stock.
How it is formed - generally the stock have a huge fall from its high and the stock floats is a range for many years say 4 to 6 years or more, it forms a cup like structure and after that the stock explodes as there is an assumption that there might be the accumulation in the past 4 to 6 years when the cup was forming.
Targets as per Cup N Handle -- The targets usually comes three times the target of cup.
Elliot Wave View-
- the stock is looking in its impulse wave (1-2-3-4-5)
- In that impulse it might have entered the bigger wave 3rd
- the minimum target as per wave 3rd is 1.618 of trendbased fib which is around 48 rs.
- but as per cup n handle it can be extended and might give targets of 72 and 95 as well.
conclusion
the stock looks in its bullish phase, the stock can b lookout for upside mentioned targets with mentioned stop loss on chart itself. one can add at every dip also till stock is above Stop Loss line.
Disclaimer
I am not SEBI registered. consult your financial advisor before any kind of investment. All the studies and ideas posted here are for educational purpose.
BTC UPDATE HEADING TO 59.6k minimum?!bitcoin is in a downtrend and the daily chart shows some interesting developments. we have 2 fair value gaps one at 64.5k - 63.1k which lines up with my wave 3 target which is the 1.618 level of wave 1 measured from top of wave 2. We have another fair value gap at 62.5 that extends down to 59.6k which is significant and will probably be filled. this would be my wave 5 target.
If the bulls cannot hold the 59.6 level we will drop to 54.5 fast as there is another fair value gap there. good luck to the perma bulls honestly i dont think we are going to be seeing a new ath before we see 56.8-52.1k
Let me know what you think, i finally became a profitable trader and so i feel confident enough to share my analysis as I am new to posting. i would love to hear what you think.
Nvidia Subdivides Lower from Recently ATHPrice is now in the target box for our circle a wave and I am watching for the potential of a reversal higher in our circle b wave. To continue to leak lower could bolster the case for ALT purple wave 4 as price appears somewhat short term oversold. My primary is a circle b wave corrective retrace. Because of the sheer bullish of the long term chart, only a move below $104-$106 would signal a major top may have been struck.
Ending diagonale targetThe target of the 3 wave is 0.083, find the red line on the chart.
After this i am anticipating reaction - 4wave, as part of the Ending diagonale of the minor degree. Approximately 0.13.
The 5wave of the Ending diagonale could reach the bottom blue line of triangle on the chart.
Please note my base scenario is very bearish. The targets mentioned here are for short term speculative trading.
See more details in previous postings. Good luck and have a fat profit!
#Oil_Crude Elliott wave analysisPrice seems to have finished a 5-wave bullish impulsive move and is now getting ready for a bearish correction.
Price failing to create a new high while making a new low is our signal that the bearish move has started.
Bearish confirmations:
Bearish divergence in the 1H time frame. 4H RSX at the oversold (OS) area.
Momentum oscillator showing bearish action.
Completion of the fifth wave of the fifth, from likely wave A.
If you’ve found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
#CADCHF short term selling opportunityA short position would be considered if the price could break below the rising wedge pattern.
A long position would be initiated if the price could break above the rising wedge pattern and closes above a VWAPs.
The trading scenario with the line arrow has a higher possibility of occurring.
Confirmations for the shorting scenario:
Price below important dynamic resistance.
Price creating a rising wedge pattern with a bearish intrinsic nature.
bearish divergence between price and momentum oscillator.
If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Hellena | DJI (4H): Short to the support area 37616.32.Dear colleagues, having reviewed the waves I assume that now the price is in a big correction and I expect that the price will continue downward movement to the support area 37616.32 (completion of the wave “C”). Before that a small correction to the resistance area 38978.81 is possible.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Total market capitalization decline1) Total market capitalization decline has confirmed. This is one more argument that the price action we see since December 2022 - is a bear structure;
I interpret the structure as an extended 4 wave of minor degree.
2) Bitcoin has gone under the 2009 trend line. This was never done before.
3) Due to massive 4-year SMAs support near 37-32k, a pattern might be more complex than straight ABC structure.
The first relatively safe entry point on BTC chart is 38k. My base scenario is 18500.
3) 5 ways down, i described in previous posting - is never the end of a structure, according to Elliot waves principle.
Good luck in your trading and have a massive profit!
Total market capitalization decline1) Total market capitalization declined has confirmed. This is one more argument that the price action since December 2022 is a bear structure.
2) Right now, Bitcoin price has gone under the 2009 trend line. The single relatively safe entry point to i see on BTC for speculations is 38k. Due to massive SMA support there the pattern might be more complex than straight ABC structure.
3) 5 ways down is never the end of a structure, according to Elliot waves principle.
There are no certainties in the market, only probabilities, so the bearish scenario is invalidated if BTC price fixes above 74 thousand, within 2 days.
Find more morę arguments in previous postings.
Good luck in your trading and have a massive profit!
GRT future?!GRT is looking bullish now ready to take off to wave 5 after finishing WXYXZ triple correction going to target at least around 0.6$ and will likely extend to 1.618 at 0.86$
what do you think?
Bitcoin Elliot Wave possible scenario If this is correct $73800 was the end of wave 5 of 1,2,3,4,5 which means at least a fib 0.382 retracement but can go lower as fib 0.5, 0.556 or even lower as 0.618 (golden pocket).
Quite curious to see the reaction this week witch is the last one of June.
It can go either way from here even with some weakness on weekly and daily charts.
LINK - ABC DeviationBIST:LINK
Will history rhyme by printing another 2 low volume wave 2 ABCing onto heavy support prior to Valhalla...?
Elliott Wave (3) Awakening: Laxmi Organic Industries Ltd.Laxmi Organic Industries Ltd. has completed wave (1) in blue Intermediate degree on the weekly chart from its inception till the peak in September 2021. Wave (2) has completed at the bottom in June 2024. We are now possibly starting to unfold wave (3) in blue Intermediate degree on the weekly chart, which is generally a strong impulse wave.
Wave (3) Characteristics and Strength:
- Strong Impulse: Wave (3) is typically the most powerful and extended wave in the Elliott Wave cycle, characterized by strong price movements and high trading volumes.
- Fibonacci Extension Target: The ideal target for wave (3) is the 161.8% extension of wave (1). Using the Trend-based Fibonacci Extension tool, this projects a price target near 1000.
- Subdivisions: Wave (3) is expected to subdivide into five smaller waves (minor degree), each representing a smaller impulse move within the larger wave.
Current Price Action:
- Current Price: 265
- Key Levels:
- Invalidation Level: 220 (last swing low)
- Breakout Confirmation: 277 (a break and close above this level will confirm the start of wave (3))
Technical Indicators:
- Bullish Divergence: At the bottom in June 2024, double bullish divergence was observed, signaling potential reversal.
- Dow Theory Confirmation: We are waiting for the first higher high and higher low formation to confirm the bullish impulse. This pattern will strengthen the case for wave (3) initiation.
Risk-Reward Ratio:
- Risk: Very low, with the stop-loss set at the invalidation level of 220.
- Reward: Potentially huge, with a target of 1000 or more, aligning with the 161.8% Fibonacci extension of wave (1).
- Risk-Reward Ratio: Excellent, considering the low risk and high reward potential.
Trading Strategy:
- Entry Point: Consider entering a position now while the price is at 265, with a stop-loss at 220.
- Confirmation Entry: A more conservative entry can be made once the price breaks and closes above 277.
Conclusion:
Laxmi Organic Industries Ltd. appears to be in the early stages of wave (3) in blue Intermediate degree. Given the characteristics of wave (3) and the current technical setup, this presents an attractive trading opportunity with a favorable risk-reward ratio. Monitoring the price action for a break above 277 will provide further confirmation of the bullish impulse wave.
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.
