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Balaji Amines Ltd. Elliott Wave Analysis - Weekly LogarithmicBalaji Amines Ltd. Elliott Wave Analysis - Weekly Logarithmic Chart The analysis is based on a weekly time frame using a logarithmic chart for Balaji Amines Ltd. The Elliott Wave count reveals a fascinating pattern that can provide insights into potential future price movements. However, it's essential to remember that all trading involves risk, and past performance does not guarantee future results. Always conduct thorough research and consider the inherent uncertainties in financial markets. Wave Count: Wave 1 (Nov 2010): The first wave appears to have completed in November 2010, closing at 57.85. This initial bullish move signaled the beginning of an upward trend. Wave 2 ABC Correction (Aug 2013): A corrective ABC pattern followed, completing in August 2013 with a low of 28.05. This retracement set the stage for the next bullish wave. Wave 3 (Jan 2018): Wave 3 unfolded with remarkable strength, reaching its peak in January 2018 at a high price of 782. This phase demonstrated the powerful momentum characteristic of third waves. Target for Wave (3): The projected target for Wave 3 is at 10267, based on traditional Elliott Wave analysis, indicating the potential magnitude of the bullish move. Wave 4 ABC Correction (Mar 2020): The onset of the COVID-19 crash marked the completion of an ABC correction for wave 4, concluding in March 2020 with a low of 200. The market's response to the pandemic created a significant correction. Wave 5 (Sep 2021): Wave 5, the final wave of smaller degree, reached its zenith in September 2021, with the stock achieving a high of 5223.55. This completed the five waves of minor degree, establishing a primary degree (1) in September 2021. Current Scenario: Post the completion of Wave 5, the stock transitioned into a bearish phase, undergoing an ABC correction near 1880 with a retracement exceeding 61.8%. This correction suggests a significant pullback, indicating a potential change in the overall trend. Invalidation Level: The bullish scenario would be invalidated if the stock price falls below the critical level of 1880, signaling potential weakness in the overall Elliott Wave structure. Disclaimer: This Elliott Wave analysis is speculative and based on historical price movements. Market dynamics can change, and unforeseen events may impact stock prices. It's crucial for investors to conduct their own research, consider multiple factors, and, if necessary, consult with financial professionals before making any investment decisions. Trading and investing always involve risks, and past performance is not indicative of future results.
NSE:BALAMINES
by imkhushal
Elevated Inflation News Amplify Safe Haven Demand for Gold 🧈Abstract: Recent inflation data from the Federal Reserve has fueled concerns over persistent price pressures. In this environment, gold's inherent value as a haven asset stands to benefit. My open-source Adaptive MFT Extremum Pivots indicator, which can be applied across various markets, reveals support and resistance levels on the gold market. Based on these calculations, the nearest resistance zone lies around $2055, while the mathematical middle of all resistances is estimated to be around $2072. A potential trade setup involves purchasing gold upon breaching the nearest resistance level. Aim for a target price slightly above the resistance level, allowing for potential retracements. Establish a stop-loss order below the recent price consolidation zone. Alternatively, consider purchasing gold upon bouncing from the nearest support level. Aim slightly above the resistance level, again with a stop-loss order below the recent price consolidation zone. --- Dear Esteemed Readers, Fellow Analysts, I. News Catalyst: 1: Higher-Than-Expected Inflation Reading: The recent inflation data from the Federal Reserve suggests persistent inflationary pressures. Implications for Gold: 2: Safe Haven Demand Amplified: Gold's inherent value as a haven asset is further enhanced amidst heightened inflation. 3: Technical Outlook Optimistic: Gold's recent price trend and favorable technical indicators indicate potential upside movement. II. Chart Description: 1: Indicator: I've used my open-source Adaptive MFT Extremum Pivots indicator to autonomously compute the support and resistance levels. I tried to write this indicator, which you find among relevant publications, as general as I could. The gold market is only one of my choices where I deployed this script. You can try it on any of this and any other markets. If you've got feedback, I'd be happy to update what I've got or create a new branch to experiment with your unique approach. You can change the indicator without coding knowledge through the user configuration block like colors and precision (!) per the documentation I wrote. The script is "adaptive" because you'll always get a bit of different data on the same market depending on the moment you use this indicator. But that's good because you can monitor the data velocity between time points with this knowledge. As I mentioned, the script is general and in the following, I'll explain how it helped me to write this particular analytics on the gold market. 2: Data Explanation and Chart Elements: You can find the script's window in the bottom right corner of the chart. As you can see in the center of the table, the Pivot point is about $2044.948. The script computed this data from a monthly timeframe. In the upper half of the window, you find the monthly high ($2075.430), monthly low ($2033.940), weekly high ($2148.990), and weekly low ($2020.135) values on this market. The latter two data came from a weekly timeframe. So, you can consider this analytics to be a Multi-TimeFrame Analytics (MTF or MTFA, see the keywords. S1, S2, and S3 mean three support levels (green lines on the chart) and R1, R2, and R3 mean three resistance levels (red lines on the chart). I named the levels according to their distance from the pivot point. S1/R1 are the closest and S3/R3 are the most distant levels. The actual price is $2033.050. The price's a bit below the pivot point, which could be a bearish signal. In this context, however, I'd call it a retracement because it's above the double support levels of $2020 and $1998. The third support level is around $1971. If you remember my messages from the chat, you know I estimated the support zone around $2000, see the green zone on the chart, which aligns with the mathematical middle level of the support levels. I believe these computations could make a bit of sense because if you look to the left of the chart, you'll see how the price bounced repeatedly from either of these supports or got rejected at either of these resistances. I'd point out the interval between 19 April and 02 May 2023 to observe these price actions. With the price consolidating above all the support levels, I'd estimate an attempt to breach the resistances. The nearest resistance is around $2055 while the mathematical middle of all the resistances is around $2072, see the red zone on the chart. If the positive news persists on the market, I estimate the price could reach as high as $2055 (R1), $2087 (R2), and $2098 (R3). You find all these data with higher precision in the bottom half of the script's window, the bottom right corner of the chart. The dotted arrows depict various price scenarios that gold could follow. The more pronounced the bullish momentum, the less retracement we can expect. In the most optimistic scenario, gold could reach resistance R3 from its current support levels. However, if demand weakens, the price might briefly dip to support S2 or even S3. Still, a breakdown below S3 would be necessary to invalidate the bullish trend. As long as the bullish trend remains intact, resistances R1 and R2 remain attainable targets. Below, I propose some possible positions according to a support/resistance strategy. You can interpret the market in various ways and the sentiment dynamically changes. That's why I made the script adaptive. You can load to your chart any time and see the market dynamics. Furthermore, I'm open to all confirmation, conflicting, extending, or questioning opinions of yours. III. Trade Setup: Entry Point: Consider purchasing gold upon breaching the nearest resistance level. Target Price: Aim slightly above the resistance level, allowing for potential retracement. Stop-Loss: Establish a stop-loss order below the recent price consolidation zone. And: Entry Point: Consider purchasing gold upon bouncing from the nearest support level. Target Price: Aim slightly above the resistance level, allowing for potential retracement. Stop-Loss: Establish a stop-loss order below the recent price consolidation zone. IV. Risk Disclosure: Please note: This is solely a speculative outlook based on current economic developments and does not constitute investment advice. Trading in financial markets carries inherent risks, and past performance is not indicative of future results. Kind regards, Ely
OANDA:XAUUSDLong
by Elysian_Mind
3
Cardano: Dive in deeper! 🤿 Cardano fell back to our magenta Target Zone between $0.5510 and $0.4430 over the last seven days. However, it did not dip very profoundly and quickly moved back up. According to our primary assessment, the low of the magenta-colored wave (iv) has not yet been placed, but there should be another deeper dip. That being said, it should be noted that the minimum requirement for the low has been met and that we see the price in the final stage of the magenta-colored five-part wave as part of the 30% probable alternative. This option would come into effect on a break of resistance at $0.64.
BINANCE:ADAUSD
by MarketIntel
3
"CFX/USDT Long Trade Setup: Bullish Flag Breakout and Retest foTrade Setup for CFX/USDT: Long Position Analysis: CFX has broken out of a bullish flag pattern, indicating a potential upward trend. The current price (CMP) serves as the entry point. The breakout is being retested, suggesting a potential confirmation of the bullish move. Entry Point: Current Market Price (CMP) Additional Positions: Consider adding more if the price drops to $0.181 Targets: $0.1945 $0.205 $0.213 $0.229 $0.25 Stop Loss (SL): Set the Stop Loss at $0.174 to limit potential losses. Leverage: Use leverage cautiously: 5x to 10x. DYOR #Crypto #trade
Long
by CRYPTOMOJO_TA
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
Going Long APE to 1.87Traders, I like this area for entry into APE. Close to support on top the 50 and 100 day SMA, RSI is in a decent area, and preceding a potential holiday bump. APE has still never really pumped like many of the other alts. I'm going long to 1.87. SL is 1.20. Entry was 1.415. R/R is just over 2. This is not fin advice of course. Purely for your entertainment purposes. Best, Stewdamus. P.S. - My spreadsheet is messed up at the moment. I'll have it all worked out and re-calibrated sometime in the next day or two. Thanks for your patience.
COINBASE:APEUSDLong
by stewdamus
Long XRP here to 73 CentsI really like XRP at this level. The 58 cent level proved it is legit support and XRP now looks to have formed a bull flag which it is at this moment attempting to break out of. All moving averages are on the underside of us assisting the 58 cent level in supporting price. Additionally, we have touched that RED line (see RSI) yet again and everytime we do so a decent pump has followed. I'm long to 73 cents with my SL at 53 and a RRR of 1.5. My stops are rather loose. Others may tighten that up to increase the RRR pending risk tolerance. None of this is fin advice. Best, Stewdamus
Long
by stewdamus
1
Going Long Matic here to 90 Cents PlusThis looks to be good support here for Matic. I have waited patiently for entry and .74 cents looks to be as good as any with all SMAs (50,100,200 day) on the underside for support along with a significant level. Also, RSI has reached support in conjuction with the pullback here. I will be taking profits along the way and expect to be out 75% by the time we reach .95 cents, dragging my stops up along the way to ensure the trade is all profit. I expect to let the remaining 25% ride after hitting .95 cents in hopes that it may jump up and above that ascending TL which would be uber bullish for this coin. Entry - .7424 Target - about .95 SL - currently .60 (my stops are very loose) RRR - 1.5 (better with tighter SLs of course) This is not fin advice. I show you the way I trade for your education and entertainment only. Stewdamus
COINBASE:MATICUSDLong
by stewdamus
1
Light Crude Oil Futures Short Setup and potential Long Expecting some sideways before a move up into the 78.50 region and a pull back to the levels shown . Aside from the confluences I have documented , this plan also correlates well with my USD outlook . I will wait for the short and have alerts set but there is also a long from around 75.20ish if you wanted to take the move up beforehand. Of course this analysis could easily change so manage your risk accordingly with your trading plan . Support my work with a Like and Follow for future Analysis.
NYMEX:CL1!Short
by SJTRADESFUTURES
USD/JPY Bullish Trade Setup: Buy Limit at 149.5This USD/JPY trade strategy capitalizes on the currency pair's strong uptrend as identified from the monthly, weekly, and daily charts. The current price near 149.5 presents a compelling entry point for a bullish position. The setup involves: Entry Point: A buy limit order at 149.5, positioned just below the current market price, aiming to capture potential upward momentum. Stop Loss: Set at 148.5, below a recent swing low on the daily chart, providing a safeguard against unexpected downward movements. Take Profit: The initial target is 151.5, just below the key resistance level of 152.0. This level is chosen based on the price’s historical performance, where it has yet to break this significant barrier. The trade is backed by an overarching bullish trend, reflected in the higher highs and lows observed across all three timeframes. While the fundamental outlook indicates the USD's strength, particularly with better-than-expected retail sales data, the high sell sentiment in the market suggests a possibility of a short squeeze, further supporting a bullish approach.
Long
by Fexcat
TRADE SETUP_WAVE V IN ABBOT_15-20% MOVEAbbott India Ltd. is seen coming out of a fourth wave triangle and is expected to have completed wave i of V. The stock had remained in a 3month long correction during the fourth wave between Aug and Nov. The stock is currently close to the support area of 23000 and is expected to settle and reverse from around here. The final projected target for fifth wave completion comes in at around 27.5K-29K zone. Note*-The views expressed are personal observations/opinions. Kindly do your own analysis before taking up any trading positions.
NSE:ABBOTINDIALong
by neeraj_2_sharma
1
EURUSD SELL | Day Trading Analysis Hello Traders, here is the full analysis. Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity EURUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Short
by TheGrove
14
ETH getting ready to drop to some massive supportSure, there is upside to 1780 and it could keep climbing, but I think we're going to see it drop before that occurs. There is a support trend heading in the bearish direction Then you have two really weak resistance lines developing on short term charts. Which makes me think it's about to see a drop off of those and then head to the bearish support trend. This is the best part because a lot of trends are leading to the same spot, which is a massive support trend climbing in the bullish direction. Personally, I see a fast movement down and then the next movement taking the price to 1745-1780 before coming back down to test 1690 again. Price target is more important, the 1608 target, the 1680 rejection, and the 1700+ line. I'll likely keep the updated price targets for this chart on my site, but otherwise, you'll need a new chart should the 1608 line fail or should the green trend break, which is a BIG time exit point trigger.
BINANCE:ETHUSD
by nicktussing77
2
ORBS/USDT TRADE SETUP!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this ORBS/USDT Trade setup. ORBS looks good here. Breaks out from the symmetrical triangle and also the cup and handle-like structure. Currently, retesting the neckline. Long some here and add more in the dip. Entry range:- $0.04370-$0.04470 Target1:- $0.049 Target2:- $0.058 Target3:- $0.064 Target4:- $0.070 SL:- $0.041 Buy on the spot or use low-leverage If you like this idea then do support it with like and follow. Thank You!
Long
by CoreCrypto1
2