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#Gold overall wave countThe overall wave count of hashtag #gold's primary bullish move on the daily timeframe shows we are nearing the top of wave 3 in this impulsive move that started in November 2022. I believe we are approaching a critical point where wave 3 will complete, followed by a potentially manipulative wave 4, which could set the stage for an extended wave 5—possibly triggered by an hashtag #economic_shock. However, let’s not get ahead of ourselves. It's crucial to first evaluate how much further wave 3 could advance. In the chart, I’ve labeled the move across four degrees. Currently, I believe we are completing wave 5 of (3) of ⑤ of iii. This suggests that once wave 5 is complete, which may not be far off, wave (3) will also finish. One possible completion zone for wave 5, based on Fibonacci tools, lies between 2725 and 2730. For further insights into how wave 4 might unfold and its potential retracement against the primary trend, please refer to the chart, which offers a more detailed view of price targets.
TVC:GOLD
by mohemati
1
Bitcoin Market Outlook Elliot Wave Theory (W42/2024) // AlgoFyreThe market shows a bullish scenario with potential for an impulse wave up after a correction, possibly surpassing the all-time high post-election. However, two bearish scenarios suggest a major drop to 20K in the long term, highlighting significant downside risk. 🟢 Short-Term Outlook (Next Few Weeks to Months) - Bullish Scenario 🔸 Leading Diagonal (Green) Complete : The green lines on the chart represent the completion of the leading diagonal, which is the first wave of a larger impulse (wave 1). Leading diagonals often occur in the first wave of a new trend, indicating that a bullish trend is beginning. This is particularly important because it sets the foundation for a stronger upward movement that could follow after a corrective phase. 🔸 Corrective Phase (Red ABC) : After completing the first wave, we are now expecting a corrective structure. The red lines represent a potential ABC correction, a typical 3-wave corrective pattern in Elliott Wave theory. This correction could retrace some of the gains made in the leading diagonal, potentially finding support near key Fibonacci retracement levels (like the 0.25, 0.5, or 0.75 levels) drawn in orange on the chart. 🔸 Timing Around the US Election : The chart indicates that this ABC correction may take place leading into the US election, which is often a period of increased market uncertainty and volatility. It seems that the correction is expected to conclude before or around this event, setting the stage for the next major move. 🔸 Bullish Impulse (Wave 3) : After the correction, the chart projects a strong bullish impulse (the large green arrow), which would be the beginning of wave 3. In Elliott Wave theory, wave 3 is typically the most powerful and extended wave in an impulsive structure, often leading to significant gains. The breakout above previous highs around the 67,000-68,000 level (marked by the green wave 5 in the diagonal) would confirm the start of this impulsive wave, which could target much higher levels, possibly into the 70,000+ range. 🔸 Bullish Summary (TLDR): The leading diagonal in green (wave 1) suggests that a new bullish cycle is underway. We are currently expecting a 3-wave corrective move (ABC) before the next leg up. The correction could end around key Fibonacci levels, potentially coinciding with the US election. After the correction, a powerful wave 3 impulse is expected, likely driving prices significantly higher. 🔴 Short-Term Outlook (Next Few Weeks to Months) - Bearish Scenario 🔸 Bigger ABC Correction : The market is in the midst of a larger corrective pattern. The current movement is within the B-wave of this ABC structure. 🔸 Flat Pattern for B-Wave : The B-wave is forming a flat correction, which typically indicates a sideways consolidation with a final leg up before a downward movement. 🔸 C-Wave to 52K Area : After completing the B-wave, we expect a C-wave to the downside, targeting around the 52K level. This drop represents the completion of the B-wave within the larger ABC pattern. 🔸 Larger C-Wave Up : Following this drop, the final C-wave to the upside is projected. While this wave could potentially retest or even exceed the all-time high (ATH), it's not guaranteed. The key idea is that a significant rally is expected after the corrective B-wave down. 🔸 Major Downtrend Next Year : After this anticipated rally, a substantial downtrend is expected in the following year, potentially driving the price down to 20K or lower. 🔸 Bearish Summary (TLDR): Completing a B-wave flat correction within a larger ABC structure. Expecting a C-wave down to around 52K before a potential larger rally. After the larger C-wave up, a significant decline is expected, leading to 20K or lower in the following year. 🔴 Mid-Term Outlook (Next Few Months to Year) - Bearish Scenario 🔸 Leading Diagonal Completed (Red) : The red structure shows the formation of a large leading diagonal to the downside, suggesting that a strong downtrend has already been established. 🔸 Corrective ABC (Green) : After the diagonal, a corrective ABC pattern has formed. This correction has reached the 0.786 Fibonacci retracement level, which is a common level for corrections to complete before resuming the primary trend. 🔸 Major Move to the Downside : Following the completion of this corrective phase, the chart is signaling the beginning of a significant bearish move, potentially leading to a price target near the 20K level. This aligns with the broader bearish outlook. 🔸 Bearish Summary (TLDR): Finished a leading diagonal to the downside, followed by a corrective ABC pattern. Correction reached the 0.786 Fibonacci retracement level. Expecting a major bearish move from this point, with a potential target of 20K. 🔶 Key Takeaway The market presents both bullish and bearish possibilities. The bullish scenario suggests that after a leading diagonal (wave 1) completes, a short-term ABC correction will occur, followed by a powerful wave 3 impulse to the upside, potentially pushing prices beyond the all-time high after the US election. On the other hand, the bearish scenarios indicate a significant downturn: one expects a C-wave drop to around 52K before a larger rally, followed by a steep decline to 20K or lower next year, while the other points to a completed leading diagonal with a corrective ABC reaching the 0.786 Fibonacci level, signaling the start of a major move down to 20K. Despite the potential short-term upside, both bearish scenarios ultimately point to a substantial long-term decline.
by AlgoFyre
#Silver near the end of wave 3 of 5 of 3 From an Elliott Wave perspective, it appears that the price has formed wave 3 in an impulsive bullish move. Therefore, we can anticipate a bearish corrective move to complete wave 4. Based on the principle of alternation, since wave 2 was a sharp correction, wave 4 could potentially be a more prolonged, time-consuming corrective phase. This suggests that the upcoming wave 4 correction may develop as a more complex or sideways movement before resuming the uptrend for wave 5. It's important to note that bullish move is still on. However, we may now see a bearish corrective move.
TVC:SILVER
by mohemati
1
Riding the Wave: A Deep Dive into EURUSDElliott Wave Analysis of EURUSD This analysis is for educational purposes only and does not constitute financial advice. Trading involves risk, and individuals should consult with a financial advisor before making any investment decisions. Current Analysis Based on the provided Elliott Wave chart, we've identified the following: Completed Waves: Waves (1) to (4) have been completed in blue. Potential Ongoing Wave: Wave (5) is currently unfolding, with wave 1 completed in red. Scenario 1: Upward Reversal If the low of wave (4) is not breached, we can anticipate a potential upward reversal. This would indicate the completion of wave 2 in red and the beginning of wave 3 in red. This bullish scenario suggests a continuation of the uptrend. Scenario 2: Downward Correction If the low of wave (4) is broken, it would suggest that wave (4) is still in progress. This could lead to a further downward correction before the uptrend resumes. Key Points Support Level: The low of wave (4) serves as a crucial support level. A break below this level would invalidate the current bullish scenario. Resistance Level: The high of wave (1) could act as a potential resistance level. A break above this level would strengthen the bullish outlook. Elliott Wave Theory: This analysis is based on Elliott Wave Theory, which posits that financial markets move in predictable patterns. However, it's important to note that Elliott Wave analysis is not infallible, and other factors can influence market movements. Conclusion The current analysis suggests a bullish outlook for EURUSD, assuming the low of wave (4) is not breached. However, it's crucial to remain vigilant and monitor market developments closely. Always conduct thorough research and consider multiple factors before making any trading decisions. 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.
Long
by RK_Chaarts
2
The Large Triple Correction WXYXZ in BTCThe Large Triple Correction WXYXZ in BTC is a formation often used in Elliott Wave Theory to describe a major corrective move. This formation refers to an extended series of sub-waves in a large correction. The general structure consists of five waves: W, X, Y, X, Z, representing a more complex corrective process. The typical behavior is as follows: W: The first corrective wave, usually taking the form of a zigzag or corrective wave. X: The recovery phase of the correction; generally a weak upward movement and often formed with lower volume. Y: The second corrective wave, following the completion of wave W, representing a new downward move. X: The second recovery wave, similar to the first X wave but typically shorter in duration. We are nearing the end of the Large Triple Correction WXYXZ in BTC. After completing the final wave C, I expect a downward turn. Once it reaches the 48-49 level, the long journey may begin.
Short
by kofc
3
Spotting the Trend: The Birth of Wave 3Technical Analysis Using Elliott Wave Principles on exampled chart of SBI Cards (Daily Time Frame) This analysis is for educational purposes only and is not intended as financial or trading advice. Market movements are inherently uncertain, and the analysis is based on one possible interpretation of the Elliott Wave structure. Please consult a financial advisor before making any trading or investment decisions. Introduction to Elliott Wave Principles: Elliott Wave Theory is an analytical framework that helps traders and investors understand market psychology through price movement patterns. The theory suggests that market prices unfold in waves, which are driven by collective investor behavior. The patterns consist of five waves in the direction of the main trend, followed by three corrective waves. Understanding these wave patterns allows us to anticipate future price movements with greater accuracy. Key Elliott Wave Principles: 1. Five-Wave Impulse Pattern: The primary trend unfolds in five waves (1-2-3-4-5). Waves 1, 3, and 5 move in the direction of the trend, while waves 2 and 4 are corrective. 2. Three-Wave Corrective Pattern: After a five-wave sequence, a correction typically follows, consisting of three waves (A-B-C) that move against the primary trend. 3. Wave Relationships: Fibonacci ratios play a crucial role in Elliott Wave analysis, often governing the length of the waves. 4. Wave Characteristics: Each wave has its own set of characteristics. For example, Wave 3 is usually the most powerful, showing the strongest price movement, while Wave 5 may signal the final push before a significant correction. Current Elliott Wave Analysis on SBI Cards Wave Structure Overview: - The analysis focuses on the daily time frame of SBI Cards, where we can identify a completed corrective pattern and the beginning of a new impulsive wave structure. Wave Count Details: 1. Primary Count: - The chart indicates the possible completion of Wave ((2)) in black, marked by a complex corrective structure, ending near the 493.30 level. - The price has likely begun unfolding Wave ((i)) of Wave 1 in red of the larger Wave ((3)) in black. 2. Current Daily Structure: - Wave ((2)) seems to have completed with a three-wave corrective move, labeled as A-B-C. The final wave C (marked in red) appears to have ended at 493.30, representing the termination point of Wave ((2)). - Following this, the initial sub-waves of Wave 1 (red) have begun forming, with Wave ((i)) currently unfolding. - The nearest Invalidation Level for this wave count is 647.95. A break below this level would invalidate the current count, requiring a re-evaluation. Wave ((3)) Characteristics and Projections: - Wave ((3)) Characteristics: As per Elliott Wave Theory, Wave ((3)) is often the most dynamic and extended wave, reflecting strong momentum in the direction of the main trend. It’s typically the longest and most powerful of the impulsive waves, often reaching or surpassing the 1.618 Fibonacci extension of Wave ((1)). - Target Levels: For Wave ((3)) in black, potential targets could be calculated using Fibonacci extensions from Wave ((1)) & ((2)), projecting prices towards 161.80%, hear possibility for short to medium term could be 960.00 and beyond if Invalidation level is not Triggered, depending on the strength of the momentum. - Invalidation Level: If the price drops below 647.95, it would invalidate the current wave count, indicating that Wave ((2)) may still be in progress or that an alternative structure is developing. Conclusion: The analysis suggests that SBI Cards may have completed a major corrective wave and is now in the early stages of a new impulsive sequence. The focus should be on the development of Wave ((3)) in black, which has the potential to drive prices significantly higher if the wave count holds true. As always, this educational analysis is not intended as trading advice, and one should consult with a financial advisor before making any investment decisions. 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:SBICARDEducation
by RK_Chaarts
7
Decoding the Final Wave: An Elliott Wave PerspectiveTechnical Analysis Using Elliott Wave Principles on example of Larsen & Toubro Ltd. (Hourly Time Frame) The analysis presented is purely for educational purposes, demonstrating the application of Elliott Wave Theory. It is not intended as trading or investment advice. Markets are unpredictable, and all analyses have a degree of uncertainty. Introduction to Elliott Wave Principles: Elliott Wave Theory is a powerful tool used by traders and analysts to decipher the underlying structure of market price movements. Developed by Ralph Nelson Elliott, this theory is based on the idea that market prices unfold in specific patterns known as "waves." These waves are driven by collective investor psychology, moving in predictable cycles of optimism and pessimism. The theory is broken down into two main phases: the impulsive phase, which moves in the direction of the main trend, and the corrective phase, which moves against it. Key principles to remember: 1. Wave Structure: An impulsive wave (motive wave) consists of five waves (1-2-3-4-5) in the direction of the trend. A corrective wave is composed of three waves (A-B-C) that move against the trend. 2. Wave Personality: Each wave within the Elliott Wave structure has distinct characteristics. For example, Wave 3 is often the strongest and longest, while Wave 5 tends to be a final push before a trend reversal. 3. Wave Relationships: Fibonacci ratios are frequently observed in wave relationships, providing potential price targets and retracement levels. 4. Validation and Invalidation Levels: These levels help in determining the accuracy of wave counts and projections. If price breaches the invalidation level, the wave count is reassessed. Current Elliott Wave Analysis on Larsen & Toubro Ltd. Upon analyzing the hourly chart of Larsen & Toubro Ltd., we can observe the following wave counts and structures: Wave Structure Overview: - The chart shows a complex corrective structure following a significant impulsive move. The price action seems to be in the final stages of a larger wave pattern. Wave Count Details: 1. Primary Count: - We are potentially in the 5th Wave (red) of the final (5)th Wave (blue) on the daily time frame. - The 5th wave, according to Elliott Wave Theory, often exhibits certain characteristics such as declining momentum, signaling the end of the trend. 2. Current Hourly Structure: - Wave (4) in Blue has been completed at the price level near 3175.05, marking it as the last corrective wave before the final impulsive wave. - The chart illustrates a five-wave sequence emerging from this level, indicative of the development of the 5th wave. - Within this structure, we can identify sub-waves: - Wave 1 peaked around 3720. - Wave 2 retraced back near 3460. - Wave 3 is anticipated to push towards higher levels, with Wave 4 and 5 completing the sequence. Wave 5 Characteristics and Projections: - Wave 5 Characteristics: [/i ] Typically, Wave 5 in a motive wave structure can be either strong and extended or show signs of divergence, where momentum indicators such as RSI or MACD might not confirm new highs. - Projection Target Levels: Based on Fibonacci extensions, potential targets for Wave 5 lie around 4141.30, 4352.60, and even possibly towards 4400.00. - Invalidation Level: If the price breaks below 3175.05, the wave count would be invalidated, necessitating a reassessment of the entire structure. Conclusion: The analysis indicates that Larsen & Toubro Ltd. is in the final stages of a larger wave pattern, specifically the 5th wave of an impulsive sequence. As this wave unfolds, it’s crucial to monitor the target and invalidation levels closely. This educational analysis serves to illustrate the application of Elliott Wave Theory, with no intention of providing trading advice. Always consider consulting with a financial advisor before making any investment decisions. 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:LTEducation
by RK_Chaarts
6
Understanding Complex Structures: Elliott Wave Theory in ActionTechnical Analysis on Exampled chart of RBL Bank Ltd. using Elliott Wave Theory Understanding Complex Structures: Elliott Wave Theory in Action This analysis uses Elliott Wave Theory & Structures, which involve multiple possibilities. The analysis presented focuses on one potential scenario. The provided information is for educational purposes only, not trading advice. There is a risk of being completely wrong, and users are warned not to trade or invest solely based on this study. The content is not advisory and does not guarantee profits. We are not responsible for any kind of profits and losses; individuals should consult a financial advisor before making any trading or investment decisions. Elliott Wave Principles Elliott Wave Theory, developed by Ralph Nelson Elliott, is a widely used method of technical analysis. It helps traders analyze financial market cycles and forecast market trends by identifying patterns of investor psychology, reflected in price movements. According to Elliott, market prices unfold in specific patterns, termed as "waves". These waves are categorized into: Impulse Waves: Move in the direction of the overall trend and consist of five sub-waves. Corrective Waves: Move against the trend and consist of three sub-waves. Impulse waves are labeled as 1, 2, 3, 4, and 5, and corrective waves are labeled as A, B, and C. Complex corrections are labeled as W, X, Y, and sometimes Z. Chart Analysis Exampled of RBL Bank Ltd. Here's a breakdown of the wave counts as illustrated in the chart: Impulse Wave 1 - 5 as a bigger degree wave (3) - Starting from the bottom left, the stock initiates an upward movement labeled as waves (i), (ii), (iii), (iv), and (v), culminating in a larger degree Wave (3). This indicates a bullish impulse wave consisting of five sub-waves. Corrective Wave W-X-Y Correction as a bigger degree Wave (4) - The chart shows a complex correction starting from top of Wave (3) with set of double correction as wave W-X-Y Current Market Scenario - Currently, the stock appears to be completing another corrective wave (Y), marked with sub-waves (a), (b), and potentially completing (c). of wave ((y)) of larger degree wave Y to finish one more larger degree wave (4). Can show some Dips to complete wave (4) along with Bullish Divergences. Future Projection Based on the Elliott Wave count, the stock seems to be in the final stages of completing Wave (c) of ((y)) of Y of (4). After this correction, it is anticipated that a new impulsive wave cycle might begin, potentially forming Wave (5) of a larger degree. The projected target for this next upward wave, post-correction, could reach above the previous high near the 300 level or more. By understanding these principles and analyzing the provided chart, traders can gain insights into potential market movements and make more informed trading decisions. 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:RBLBANKEducation
by RK_Chaarts
10
#OIL Elliot wave analysisAfter the bearish move that oil prices experienced until the fifth of August, it seems like the price has initiated another bullish move, which currently appears to be an impulsive wave. However, it should be noted that even if this bullish move is an ABC corrective wave, it makes no difference since the price could still go higher to complete wave C. Therefore, this bullish move seems probable for now, and we could look for buying opportunities near support levels.
CAPITALCOM:OIL_CRUDELong
by mohemati
FUBO "B" wave bottoming? First upside target 4.85USD?This is a followup idea on my previous one where we "idezied" the bottoming process, which so far has been manifested. So far I see it as a huge (A)(B)(C) forming to the upside, hence the choppiness, which overall LIKELY will stay as 3 wave structure hitting a several year upside target of between 22 - 84 USD, too soon to projectile anything more proper target. Can it be something even more bullish? Yes, but it has to proove a lot in the upcoming years. In that case it is LIKELY to be a huge overall diagonal. What I lean towards is that we are in the huge white (A) wave, unfinished still, within that we likely to have a big ABC structure, in which the "A" wave likely completed, and we are in the "B" wave down. I have already removed the 0.382 and 0.5 fib retracement levels, generally we are reaching/has reached a very good risk/reward ratio already for the long term. As this could be the b wave down, it is quiet tricky, morphing, wavecount changing and evolving, and likely to have more choppiness. Even it COULD undershoot as still be valid, hence I have carefully, but constantly scaling back-in for long Next support levels to watch: 1.65-1.50 After that: 1.30-1.20 (less likely, but CAN happen) After that: 1.16-1.05 (even less likely, but CAN happen) Currently we are below all meaningfull moving averages (9/21/50/180&200 day MA's), but within support. I have added a "bearish" route/count as well, for the very long term I am still bullish even in that scenario, however likely to have 1 or 2 more swingdowns deeper to complete the yellow route big wave 5, and THEN (assuming no banktrupcy) would have at least a very strong correction to the upside.
NYSE:FUBOLong
by tommtajlor
4
#GBPNZD more bearish move to comeThis is my prediction for GBPNZD for the next couple of days. As you can see in the chart, the price seems to be completing a 5-wave bearish impulsive move, which could end by tomorrow. Following this bearish move, we could assume a bullish corrective ABC formation, which could take us all the way back to the level indicated by the arrow. From there, we could expect another impulsive bearish move, which could be either wave 3 or wave C. We do not know this for sure at this point, so we should wait and analyze the price action once the time is relevant. Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
by mohemati
8
Navigating the Waves: Elliott Wave Theory and Key IndicatorsEducational Technical Analysis on example chart of UFO Moviez India Elliott Wave Analysis and Key Moving Averages Disclaimer This study is for educational purposes only and does not constitute trading or investment advice. The analysis presented focuses on one potential scenario based on Elliott Wave Theory and other technical indicators. Trading and investing involve substantial risk, and individuals should consult a financial advisor before making any decisions. Introduction to Elliott Wave Theory Elliott Wave Theory is a form of technical analysis that traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective activities. The theory posits that stock prices move in predictable patterns or "waves" based on investor sentiment. Principles of Elliott Wave Theory 1. Wave Patterns: According to Elliott, market prices move in five waves in the direction of the main trend (impulse waves) and three waves in a correction against the main trend (corrective waves). 2. Wave Degrees: Waves are fractal in nature, meaning that smaller waves form part of larger waves, and this pattern repeats on all time frames. 3. Wave Characteristics: - Wave 1: Usually the smallest impulse wave. - Wave 2: Corrects Wave 1 but does not exceed its starting point. - Wave 3: Typically the strongest and longest wave. - Wave 4: Corrective wave that is usually less severe. - Wave 5: Final leg in the direction of the main trend. Current Analysis of example chart of UFO Moviez India Based on the chart and Elliott Wave Theory, UFO Moviez India is currently suggesting an impulsive and momentum-driven 3rd of the 3rd wave ahead, with an invalidation level at 106. Key Observations: 1. Wave Count: - Wave (1): An initial 5-wave impulse has completed. - Wave (2): A corrective ABC pattern. - Wave (3): Currently unfolding with sub-waves i, ii, iii, iv, and v marked. - Wave 3: In the larger context is forming. 2. Breakout: - There is a breakout above the downward trendline with good volumes, indicating strong bullish momentum. 3. Key Moving Averages: - Price Trading Above: - 50 EMA, 100 EMA, and 200 EMA - 50 WEMA, 100 WEMA, and 200 WEMA - Crossed above 20 MMA Technical Indicators and Levels - Price: 148.54 INR (as of the latest close) - Support Levels: - Nearest Invalidation Level: 106 INR - Major Support: 57.20 INR - Resistance Levels: - Immediate Target: 175.58 INR (Wave 1 of larger degree) - Fibonacci Extension Target: 220.51 INR (1.618 extension of Wave 1) Conclusion The Elliott Wave analysis of example chart of UFO Moviez India indicates a potentially strong bullish trend as the stock is in the 3rd wave of a larger impulse. The breakout above the trendline with significant volume further supports this bullish outlook. However, it is crucial to monitor the invalidation level at 106 INR, as a break below this level could invalidate the current wave count and suggest a different scenario. Educational Purpose Notice This analysis is provided for educational purposes only. It is not an investment or trading advice or tip. Trading and investing in financial markets involve risk, and it is important to do thorough research and consult with a financial advisor before making any investment decisions. 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:UFOEducation
by RK_Chaarts
2
Wipro Case Study: Elliott Wave Analysis for Educational PurposesWIPRO multi time frames charts updated Weekly Chart Daily Chart 4 Hourly 60 Min In this educational case study, we delve into the chart analysis of Wipro using Elliott Wave Theory. Our analysis focuses on identifying potential wave patterns and understanding the current wave structure for educational purposes only. Overview: After a significant decline in the larger Wave (4), Wipro appears to have initiated Wave 1 of (5). Within Wave 1 of (5), we have observed completion of sub-waves (i)-(ii)-(iii), and (iv) is nearing completion. The current structure suggests that sub-wave (v) of Wave 1 of (5) could soon commence. Detailed Analysis: Wave (4) Correction: Wipro experienced a notable decline in Wave (4), signaling a potential shift in sentiment. Wave 1 of (5): Following Wave (4), the stock initiated Wave 1 of (5), marked by the completion of sub-waves (i)-(ii)-(iii). Current Structure: We are currently witnessing the final stages of sub-wave (iv) of Wave 1 of (5), with sub-waves i-ii-iii-iv completed. Anticipated Movement: Sub-wave (v) of Wave 1 of (5) is expected to commence soon, potentially marking the final fall before an upward move. Risk Management and Wave Highlights: It's essential to implement proper risk management strategies, including setting stop-loss levels to mitigate potential losses. Traders should exercise caution and remain vigilant for any deviations from the expected wave counts. Understanding Elliott Wave Theory can provide valuable insights into market trends and potential price movements. Remember, this analysis is for educational purposes only and should not be considered as trading advice. 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:WIPROLong
by RK_Chaarts
Mastering Elliott Waves: Key Rules You Can't IgnoreEducational Idea : Understanding Key Principles of Elliott Wave Theory Introduction Elliott Wave Theory is a powerful tool used by traders to analyze market cycles and forecast future price movements. Understanding its core principles can help you make more informed trading decisions. In this article, we will delve into three fundamental principles of Elliott Wave Theory that cannot be violated. Remember, this video is purely for educational purposes and not intended as trading advice or tips. 1. Wave 2 Can Never Retrace More Than 100% of Wave 1 The first principle of Elliott Wave Theory is that Wave 2 can never retrace more than 100% of Wave 1. In other words, Wave 2 cannot go below the starting point of Wave 1. If it does, it invalidates the wave count and suggests that the initial impulse wave (Wave 1) was incorrectly identified. This rule ensures that Wave 2 is a correction wave within the larger trend and not a reversal of the trend itself. Example Illustration: - If Wave 1 starts at 100 and peaks at 150, Wave 2 can retrace to any level above 100, but not below it. 2. Wave 3 Can Never Be the Shortest Among All Three Impulse Waves (1-3-5) The second principle states that Wave 3 can never be the shortest among the three impulse waves (Waves 1, 3, and 5). Typically, Wave 3 is the longest and most powerful wave, characterized by strong momentum and volume. If you find that Wave 3 is shorter than either Wave 1 or Wave 5, the wave count is incorrect, and you need to re-evaluate your analysis. Example Illustration: - If Wave 1 is 50 points and Wave 3 is only 30 points, while Wave 5 is 40 points, this violates the rule as Wave 3 is the shortest. 3. Wave 4 Cannot Enter the Territory of Wave 1 (Except in Diagonals & Triangles) The third principle asserts that Wave 4 cannot enter the price territory of Wave 1. This means that the lowest point of Wave 4 should not overlap the highest point of Wave 1. An exception to this rule occurs in diagonal and triangle patterns, where some overlap is permissible. This rule helps maintain the integrity of the impulse wave structure. Example Illustration: - If Wave 1 peaks at $150 and Wave 4 retraces to $145, this overlaps and invalidates the wave count unless the pattern is a diagonal or triangle. Conclusion By following these principles, you can ensure that your Elliott Wave analysis remains robust and accurate, helping you navigate the complexities of the financial markets with greater confidence. Understanding and applying these key principles of Elliott Wave Theory can significantly enhance your market analysis and trading strategies. Keep these rules in mind as you study and apply Elliott Wave Theory in your trading journey. Remember, this video is purely for educational purposes and not any kind of trading advisory or tips. This content is for educational purposes only and should not be considered as financial advice. Always do your own research before making any trading decisions. 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...! Feel free to share your thoughts or questions in the comments below. Happy trading! 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:IRFCEducation
by RK_Chaarts
13
Charting the Future: An Elliott Wave ApproachTechnical Analysis of Rajesh Exports Using Elliott Wave Theory Monthly Time Frame Analysis Elliott Wave Count and Structure: - The monthly chart of Rajesh Exports shows a clear Elliott Wave pattern, suggesting the completion of a corrective wave (C) of a larger degree wave ((2)) in Black, implying that a new bullish impulse is likely to begin wave ((3)) in Black. - The recent price action indicates the end of Wave (C), part of a larger correction that followed a significant impulse wave (5) earlier of wave ((1)) in Black. - This suggests that the stock is about to start a new bullish cycle, labeled as Wave (1) in Blue of a new impulse higher Primary degree wave ((3)) in Black. Bullish Divergence: MACD: The price shows hidden bullish divergence with the MACD, as the MACD line forms higher lows while the price makes lower lows on Monthly time frame. RSI: Similar hidden bullish divergence is observed with the RSI too on monthly time frame, reinforcing the bullish outlook. Daily Time Frame Analysis Bullish Divergence: MACD: The price shows bullish divergence with the MACD, with the MACD line forming higher lows while the price forms lower lows. RSI: The RSI also shows bullish divergence, adding further weight to the bullish scenario. Trigger Point: Trendline Breakout: The daily chart indicates a trendline breakout accompanied by a significant increase in volume. This breakout suggests a strong bullish sentiment and confirms the start of a new upward trend. Invalidation Level: The invalidation level for this bullish scenario is set at 261. If the price falls below this level, the bullish wave count would be invalidated. Targets: According to Elliott Wave Theory, the third wave (3) is typically the most powerful. Using the Fibonacci extension, the 161.8% target of Wave (1) places the possible price target near or above 1800. Summary Elliott Wave Count: Indicates a potential start of a new bullish impulse wave. Bullish Divergence: Both MACD and RSI on the daily and monthly charts show bullish divergence. Trendline Breakout: Confirmed with high volume, suggesting strong upward momentum. Invalidation Level: 261 Target: 161.8% Fibonacci extension of Wave (1) projects a target near or above 1800. The overall analysis suggests that Rajesh Exports is poised for a significant upward movement, with strong bullish indications from both the Elliott Wave counts and technical indicators. 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:RAJESHEXPOEducation
by RK_Chaarts
4