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Elliotwaveanalysis

Decoding USDINR with Elliott Waves: A Comprehensive AnalysisDecoding USDINR with Elliott Waves: A Comprehensive Analysis Weekly Perspective: Daily Perspective: 4 Hourly Perspective: Hourly Perspective: Current Stage: Inside iv of (c) of 2 of ((1)) of wave V of wave (III). Current Bias: Presently showing a bearish inclination on the hourly chart. Future Outlook: Post the completion of wave (c) of 2 , a potential swing towards the north is anticipated. Invalidation Level: Post starting journey towards north Strictly set at the recent swing low of (c) of 2, serving as a critical point for the bearish bias. If breached, it might prompt a re-evaluation of wave counts on the hourly time frame. Elliott Wave Concept: Elliott Wave Theory proposes that market prices unfold in specific patterns, providing insights into potential future price movements. It identifies waves of various degrees, each with its own subdivisions, illustrating the cyclical nature of market psychology. Corrections, labeled as 2 or (b), are temporary pauses in the prevailing trend before the larger trend resumes. Validation of Elliott Wave counts often comes from adhering to strict rules and guidelines, including confirmation of trend reversals and respecting key invalidation levels. Conclusion: The USDINR pair, as per Elliott Wave analysis, is currently navigating a complex pattern with bearish signals on the hourly chart. However, the prospect of an upcoming swing towards the north is plausible post the completion of wave 2. Traders are advised to closely monitor the invalidation level as it holds the key to potential shifts in the Elliott 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.
by RK_Chaarts
14
🚧Bitcoin is bullish🚧 & many Traders don't see it 👀!!!As you can see, Bitcoin has reached the ceiling of the ascending channel after going through 5 ascending waves and now it is time to correct the price a bit. In my opinion, the past can be repeated, and as shown in chart AB=CD. Price After reaching the PRZ ZONE the price can have a good growth. 🤑Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️
Long
by CobraVanguard
USDCHF bullish move possibilityPrice is currently testing the lower boundary of a daily bearish channel, the 78.6% FIB retracement level, and a long-term support area as well as bullish divergence between price and stochastic momentum oscillator in daily timeframe. This supportive cluster could potentially lead to the formation of a low around this price level. On the other hand, the bearish move in price appears to be a corrective bearish ABC move, correcting approximately 61.8% to 78.6% from the previous bullish move. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
2
#CADJPY Elliott wave analysishello dear traders and colleagues. Lets have a look at a very long term chart of CADJPY. If we want to interpret the chart using Elliott wave principle we can see from the bottom that we have completed a 5 wave impulsive bullish move (corrective wave 4 is running flat formation) and then we can see a 5 wave bearish impulsive (which also labeled as wave A). Now that the price reached the top unless we are witnessing a running flat we can expect that the bullish move as wave B is also reached its destination and from now we can wait for the wave C to be completed. Initial target would be the previous low if we assume that this large corrective formation is regular flat. For opening a position in case you want to use candle stick patterns you can wait for the weekly close and see if price formed evening star which seems possible. Other than that you can always wait for price to penetrate the previous low or perhaps triggers can be found in lower time frame and following the lower time structure. Also it should be noted that in case price close above last week high or close above resistance level this wave analysis is invalid. Please let me know if you like this kind of long term analysis.
Short
by mohemati
5
INDUSTOWERS should be approaching INR240 soon_TRADE_SETUPThe stock broke out of a 3 week trading range on Thursday's session with satisfactory volume expansion. Going by the Elliot wave structure, the stock is currently in wave III of(III) of 3(ignore the labeling if you don't follow Elliot wave theory).The current wave is projected to reach close to the INR 240 zone. INR195-200 has been a resistance for the stock for past 3 and half months. But with vol. picking up and range break-out just at the resistance the stock seems to be well-equipped for a strong breakout above INR 200 this time around. On the downside INR 185 will be proving to be a crucial support for the stock. CMP 193.8 Target 1- 213 Target 2- 240 SL - 185
NSE:INDUSTOWERLong
by neeraj_2_sharma
A new wave began in BIOCON _35% upside The bio pharma company is on its way towards the 320 in a wave 3 structure according to the Elliot wave. That shall be a 35% jump from the CMP. The biologics major had set out an impressive impulse wave from march 2023 - Sep. 2023 and rallied around 45% during this period. Upon the completion of the wave 1 however the company slid down in wave 2 structure(Elliot wave zig zag in this case) and completed a crucial 61.8% retracement of the Wave 1 rise. The stock is making a move right from this crucial 61.8% retracement support level. The Wave 3 target is projected to be around 320 zone. It is also important to note that Biocon posted a 168% year-on-year rise in its consolidated net profit for the September quarter to Rs 126 crore. Biocon's revenues grew by 50% to Rs 3,462.3 crore. The results were declared on Friday after the market hours and the stock gained a little over 3% on Muhurat Day trading(Sunday evening). Note*- This chart is based on personal observations/opinions. Please do your own research/analysis before making any financial decisions.
NSE:BIOCONLong
by neeraj_2_sharma
A Rocket Called Bitcoin Will Take Off SoonSince the beginning of 2023, the price of Bitcoin has risen significantly relative to other asset classes, demonstrating once again to Wall Street that “digital gold” should not be discounted even despite legal battles with FTX and Binance. Moreover, in recent weeks, we have seen strong momentum in Bitcoin, bouncing off support with ease even in the face of criticism from US Senator Elizabeth Warren, who is attempting to impose tighter restrictions on many aspects of crypto. From a technical analysis perspective, we believe that the impulse wave marked on the chart as (3) was completed on December 8, 2023. After which a corrective wave (4) began, which will end in the range of $37,800-$38,200 per BTC, which is a potential opportunity to consider opening a long position ahead of its halving in April 2024. After the end of the correction, the first stop for digital gold that we highlight is $49,500-$50,000. On a more global scale, we expect its price to reach $110,000 in 2024. What are we doing? Considering the significant decline in natural gas prices in recent months and its high reserves in the US and Europe, we believe this will also positively impact the margins of mining companies such as RIOT and HUT8. We plan to open a long position in RIOT when its price reaches $11.8-$12 per share. Show your support by liking👍, following✅, sharing🙌, and commenting✍! Feel free to share your ideas and charts below. Your engagement is crucial in spreading the word and maintaining the relevance of the content. Thanks for being an essential part of this community! Analyst’s Disclosure: This article may not take into account all the risks and catalysts for the stocks described in it. Any part of this analytical article is provided for informational purposes only, does not constitute an individual investment recommendation, investment idea, advice, offer to buy or sell securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental criteria or events change in the future, I do not assume any obligation to update this article.
BITFINEX:BTCUSDLong
by AisenQuantum
1
#USDCHF possible bullish scenarioPrice is currently testing the lower boundary of a daily bearish channel , the 1 FIB extension level , and a long-term support area . This supportive cluster could potentially lead to the formation of a low around this price level. On the other hand, the bearish move in price appears to be a corrective bearish ABC move , correcting approximately 61.8% to 78.6% from the previous bullish move. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
12
Regardless of your bias, trade cautiously...Honestly, I do not think the correction is over, I think we may see near Covid prices again... The lack of a "covid wick" on the monthly is the biggest giveaway to me. I must admit, my macro has errors and therefore, can only trade my micro, however, at the end of this set we could really dump. I know Bulls are calling for buys at 28k, but honestly, with the uncertainty I can see in the market (Triangles within corrections), who knows how deep that could go, and it will only be a Wave 1 going down... On retracement, everyone that missed the sell will offload for profits starting Wave 3... This is an opinion, based on my TA. I may be wrong. I do not care if I am, I will protect my wealth regardless, you do you. I am currently long, so short term BTC goes up. However, on the daily, two of four criteria to indicate the top have been met. Regardless of your bias, protect your positions at the end of this set. I can honestly say I have no idea what will actually happen. Safe Trading.
BNC:BLXShort
by JMSBurton
2