The time has come... Change of directionIt seems that the euro is ready to take power once again.... And it's definitely going to happen.
Neo Wave
Elliott Wave Outlook for RELIANCETechnical Analysis of Reliance Industries (RELIANCE) based on Elliott Waves
This analysis is based on Elliott Wave Theory and is for educational purposes only. It does not constitute financial advice. Investing involves risk, and past performance is not indicative of future results. Always consult with a financial advisor before making any investment decisions.
Elliott Wave Analysis
The provided chart of Reliance Industries (RELIANCE) outlines a potential Elliott Wave pattern within a 1-hour timeframe. Elliott Wave Theory suggests that financial markets move in predictable and repeatedly patterns based on investor psychology.
Key Observations:
1. Impulse Wave: The primary uptrend appears to be an impulse wave, a five-wave structure.
Wave 1: The initial uptrend from the low point.
Wave 2: A minor correction or pullback.
Wave 3: A strong extension of the uptrend.
Wave 4: A smaller correction.
Wave 5: The final wave of the impulse, often ending with a climactic price movement.
2. Corrective Wave: The current downward movement was a zigzag corrective pattern.
Wave A: The initial decline.
Wave B: A minor retracement.
Wave C: The expected continuation of the downward trend.
Potential Scenario:
If the current corrective pattern zigzag finishes here or near, then further wave ((3)) is to start post completion of wave (C) of ((2)), and it would not go sudden upside, because any impulse wave unfolds in five subdivisions, so wave (1) of wave ((3)) can start any time post completion of wave (C) of wave ((2)).
Note: This analysis is based on a specific interpretation of the Elliott Wave pattern. Other analysts might have different interpretations. It's crucial to use multiple tools and indicators to confirm your analysis.
Additional Considerations:
Fundamental Analysis: Consider factors like company earnings, industry trends, and economic indicators to support your technical analysis.
Risk Management: Always use stop-loss orders to limit your potential losses.
Diversification: Don't put all your eggs in one basket. Diversify your investments across different assets.
Remember: Elliott Wave analysis is a complex tool that requires practice and experience. It's essential to approach it with caution and always consider the potential risks involved in trading.
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.
Check the trend According to the behavior of the price in the current resistance range, possible scenarios have been identified. It is expected that a change in the trend will take place and we will see the beginning of the correction process
RARE ANALYSIS (4H)RARE correction has started from where we put the red arrow on the chart.
The correction is a zigzag diametric.
By maintaining the red range, it can move towards the green range.
We are looking for buy/long positions on the green 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
Comment if you have any questions
Thank You
Uptrend According to the behavior of the price in the current resistance range, possible scenarios have been identified. It is expected that after some fluctuation and correction, the continuation of the upward trend will be formed.
Correction A corrective trend is expected to form up to the specified support range. Then, according to the behavior of the price in the support range, the continuation of the corrective process will be likely
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. Otherwise, the downward trend will continue to the specified support levels. As long as the price is above the 78.6% level, there will be a possibility of an upward trend
Correction According to the behavior of the price in the current support range, possible scenarios have been identified. It is expected that the price will cross the support zone and continue the downward trend
Uptrend The downtrend is expected to advance to the indicated support levels. Then it is expected that a trend change will be formed in the support range and we will see the beginning of the upward trend
Downtrend A corrective trend is expected to form up to the specified support range. Then, according to the behavior of the index in the support range, possible scenarios have been identified
Change the trend The uptrend is expected to advance to the specified resistance area, then a reversal is expected to form and the downtrend is expected to begin.
Possibility of correction It is expected that the price will fluctuate in the current support range and then the beginning of an upward trend will be formed. If the price crosses the green resistance range, the continuation of the upward trend is likely. If the price crosses the support range, the correction process will continue
Bitcoin Has Another Bull Run !Bitcoin has shown signs and patterns in the daily time frame that can be analyzed with the current data.
It looks like a diametric has finished (A) and then the price has entered a bullish phase.
In the bullish phase, we have an ABC/WXY whose A/W has the signs of a diamond diametric.
We expect waves X and Y because the time of wave A is much larger than the current pattern (A/W).
The green range could be the start of a bull run in Bitcoin.
Closing a daily candle below the invalidation level will violate the analysis.
Note : This is only a possible scenario, please do not forget to manage risk
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
WOO ANALYSIS (8H)From where we placed the red arrow on the chart, it seems that the WOO correction has started. This correction on the chart seems to be double. It's over now.
Now we have a demand range on which we are looking for buy/long positions.
The target is marked on the chart.
Closing a daily candle below the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
STORJ ANALYSIS (4H)Storj seems to have entered a diametric recently.
We now seem to be in wave F of this diametric.
We are looking for buy/long positions in the green range.
The targets are inserted on the image.
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
Thank You
MEW buy/long setup (4H)From where we put the green arrow on the chart, it looks like we have an ABC on the chart, which wave B was a triangle and now it is over.
We seem to be in wave C now.
On the chart, we have a demand range on which we are looking for buy/long positions.
The targets are marked on the chart
Closing a daily candle below the invalidation level will violate this 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
Thank You
ETHEREUM look bullish (4H)Ethereum seems to be forming a bullish triangle.
From where we placed the red arrow on the chart, it seems that the correction of ETH has started.
We now seem to be in wave D of this triangle.
We are looking for buy/long positions in the green 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
Thank You
Check the trend It is expected that a trend change will be formed in the current resistance range and we will see the beginning of the correction process. As long as the price fluctuates above the red support zone, the continuation of the upward trend is likely
Check the trend According to the behavior of the price in the current resistance range, possible scenarios have been identified. In both scenarios, the continuation of the upward trend is likely
Possibility of correction Considering the behavior of the price within the range of the current resistance levels, the continuation of the correction process will be probable. If the price crosses the resistance range, it will be possible to continue the movement until the next resistance range
Gold is going for new Record high again.The Neely River Trading (NRT) System indicates that gold could be heading towards new record highs (+$2800 when cross $2700) amid growing global tensions. With recent escalations in the Middle East, especially the ongoing conflict between Israel and Hamas, Hezbollah, and increased tensions with IRAN, there are significant implications for global markets. Furthermore, the prospect of an expanded conflict involving Iran raises concerns about potential disruptions in oil supply through the Strait of Hormuz, which could impact global economic stability.
These events add uncertainty to the already volatile economic landscape. The Israel-Iran conflict, for example, has the potential to impact energy prices significantly, affecting economies heavily reliant on Middle Eastern oil imports, such as Greece. Such instability often drives investors towards safe-haven assets like gold, potentially pushing prices to new heights.
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USDT Dominance UpdateThis analysis is an update of the analysis you see in the "Related publications" section
According to the previous analysis, the pump was done and reached the yellow range and then we saw a drop.
Upon further investigation, we found that the drop may not reach the previously analyzed areas.
Therefore, we have prepared an update.
Due to the strength of the drop, the up move does not look like a triangle and we see an ABC wave, we are now in wave B.
Wave B seems to be a diametric, which we are in the final wave (wave g).
From the green range, it can make a strong retracement upwards. Watch out for the green area.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
MKR will soon become bullishFrom where we put the red arrow on the chart, the MKR correction has started.
It is approaching the cheap ranges after the deep correction.
We also have a liquidity pool at the bottom of the chart. It is expected that the pool will be swept and the price will retrace upwards after hitting the deand 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
Comment if you have any questions
Thank You
