Starting the uptrend It is expected that the current downward trend will end in one of the two support ranges and we will see the beginning of the upward trend.
Otherwise, it will be corrective and time-consuming
Neo Wave
Possibility of uptrend It is expected that after the pullback to the support range, the continuation of the upward trend will be formed until the specified resistance range.
If the price crosses the support range and stabilizes, the downward trend is likely to continue
Check the trend It is expected that after some fluctuation and correction to the specified support range, a trend change will be formed and we will see the beginning of the upward trend.
If the support range is broken, the continuation of the downward trend is likely
Possibility of uptrend It is expected that the price will move according to the specified path and after the completion of the upward trend, a change of trend will be formed.
If the support range is broken, the continuation of the correction process will be formed
Check the trend It is expected that according to the specified path, an upward trend will be formed and we will see a change in the resistance range.
As long as the price fluctuates above the support range, the continuation of the upward trend is likely
Possibility of uptrend The uptrend is expected to advance to the specified resistance range. Then there will be a possibility of changing the trend.
If the index crosses the support range, it will be possible to continue the correction process
Uptrend It is expected that a trend change will be formed in the current support range and we will see the beginning of the upward trend. In this case, the level of 78.6% can be available
Uptrend Considering the behavior of the price in the support range, the continuation of the upward trend according to the specified paths will be probable
BLZ looks bullishFrom where we placed the green arrow on the chart, it looks like an ABC pattern or a more complex pattern has formed
.
Wave A is over and it seems we are now in Wave B.
Wave B looks like a triangle.
BLZ is expected to rise up to the red box (in the red box wave d of B can be completed) and then reject to the green box (for wave e of B).
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
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EGLD ANALYSIS (2H)From where we placed the green arrow on the chart, it looks like an ABC pattern or a more complex pattern has formed
.
Wave A, which was a triangle, is over and it seems that we are now in wave B.
Wave B looks like a triangle.
EGLD is expected to rise up to the red box (in the red box wave d of B can be completed) and then reject to the green box (for wave e of B).
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
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LDO looks bullishFrom where we put the green arrow on the chart, it looks like an ABC pattern is formed on the chart.
We seem to be in wave B now. This wave is a diametric. We are now in wave g of this diametric, which is the last wave of this diametric.
We are looking for buy/long positions in the demand range.
Closing a daily candle below the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
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Opportunity to buy in HARAMBEThe HARAMBE triangle starts from where we put the green arrow on the chart, and the triangle ends where we put the red arrow.
It seems now that the price has entered a new corrective phase where the first wave of this correction can end in the green range and the price will be rejected upwards.
Closing a daily candle below the green range will violate the analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
Check the trend It is expected that the index will cross the support trend line and continue the downward trend
If the index can stabilize above the supporting trend line, there will be a possibility of trend change
Possibility of uptrend Given that the triangle pattern has been completed, the current uptrend is expected to continue.
As long as the price is above the support range, it is expected that the upward trend will continue
Change the trend Considering the behavior of the price in the current support range, it is expected that a trend change will take place and we will witness the beginning of an upward trend.
Uptrend Considering the behavior of the price in the current resistance range, it is expected that the continuation of the upward trend will be formed according to the specified paths.
Downtrend As long as the price is below the resistance range, it will be possible to continue the downward trend according to the specified paths
Uptrend The uptrend is expected to continue up to the specified resistance range. Then according to the behavior of the price in this range, the continuation of the movement process will be determined
Possibility of uptrend The price is expected to consolidate above the current support range, then the start of an uptrend is likely.
If the price crosses the support range, the downward trend is likely to continue
Uptrend Considering the behavior of the price in the range of 78.6%, it is expected that the upward trend will continue. Otherwise, the correction process will be possible up to the support range
Possibility of uptrend It is expected that the corrective process will end in the current support range and we will see the beginning of the upward trend.
If the price crosses the red support zone, the continuation of the downward trend is likely
Possibility of uptrend It is expected that a trend change will be formed in the current resistance range and the correction process will begin.
Then the continuation of the upward trend will be likely
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
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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.
