Get started

Wavetheory

Gold Bearish Development From the chart, we can see that the price is moving within a bearish channel for the the past weeks. Price already created a strong resistance zone near 1968 and continue to hold which is a clear indication that this bearish movement will hold. The last zone of support will be near the base of the channel after completion of the bigger WXY and it's internal degree abc. hold your short position or open a short position at a god entry point with your target at 1888.36 Good luck
OANDA:XAUUSDShort
by oxxygee
Bitcoin Analysis - 2023.06.15INDEX:BTCUSD CMP: 24955 BTC has completed wave 4 (black color) - which is a triple three WXYXZ (blue color) type of correction - around 24770, which is also the top of Wave 1 (black color). - Confirmed by internal wave counts of WXYXZ. - Hourly TF shows positive RSI Divergence - Hourly TF shows early indication of MACD crossover with MACD line crossing above signal line - Hourly TF shows increased volume One can go long from here for target of 30800 - 32300 - 34600. SL should be daily close below 24800.
INDEX:BTCUSDLong
by MalayKJ
#BTC BULLISH FLATHello, TradingView Community! Today, I want to talk about a critical structure in Elliott Wave Theory: The Bullish Flat. This pattern is part of the 'corrective wave' group and often signifies a temporary interruption of an uptrend. Understanding its structure can be very beneficial for both swing and day traders. Here's an example chart showing a Bullish Flat. Structure: A Bullish Flat consists of three waves - labeled A, B, and C. Waves A and B consist of 3 sub-waves each, and Wave C consists of 5 sub-waves. Wave A: The first wave, A, is a corrective move to the downside. However, it's typically not as intense as a primary trend reversal. Wave B: Then comes wave B, which is an upside move. Interestingly, in a flat, wave B ends about the same level that the preceding impulse wave ended, meaning it retraces almost 100% of Wave A. Wave C: Finally, Wave C comes into play, another move to the downside, with a structure similar to an impulse wave. It ends slightly below the end of wave A before the overall uptrend resumes. Identifying these structures accurately can offer profitable trading opportunities. By entering long positions at the end of Wave C, traders can capture the next impulse wave in the prevailing bullish trend. Remember, no pattern provides a guaranteed outcome, so always use other forms of technical analysis for confirmation and manage your risk effectively. Stay tuned for more Elliott Wave Theory insights and happy trading!
BITSTAMP:BTCUSD
by optimizedtrading
Hellena | GBP/USD (4H): Short after wave 5!Last week, there was a strong channel breakout that changed our plans! Interestingly, I still expect the price to reach the option contract level of 1.23973 in the future, but for now let's focus on closer targets. I anticipate that Wave 3 is not yet complete, so I expect Waves 3, 4, and 5 to follow. Then, I anticipate a correction to the level of 1.27422. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Short
by Hellena_Trade
2
ELECTROSTEEL CAST - AN INVESTMENT PICKHEY FRIENDS, Here I am sharing my views on ELECTROSTEEL CAST (NSE). First we understand the overall past structure of this stock as per ELLIOT WAVE counts. The stock was in double correction phase in the Wave structure as WXY which is now completed and now we are in Impulse wave structure of 1-2-3-4-5, in which Wave 1 and 2 are completed and now we are unfolding bigger wave 3 of impulse wave 1-2-3-4-5. The overall structure is given below Now as per price action and chart patterns, the stock has given a breakout of FLAG N POLE Chart Pattern with good intensity of volume in weekly time frame. This pattern suggest that the stock may move towards north approx. to the size of pole. As we see that there is bullish bias for this stock, the supporting indicators such as MACD, BOLLINGER BANDS and DIRECTIONAL MOVEMENT INDEX are also in our favor in double time frame. MACD in Daily Time Frame - Positive Uptick MACD in Weekly Time Frame - Positive Uptick At the time of Breakout, the Price is Challenging Upper Bollinger Band Directional Movement Index is also Positive Uptick in weekly time frame Summary- The Stock is in Uptrend and now this stock is ready as BUY ON DIPS so one can add this stock in their portfolio at any dip you get with the Stoploss of 26.50 RS Thank you -KARAN DINGRA DISCLAIMER - I am not a SEBI registered analyst. All my studies are for educational purpose. I am not responsible for any kind of your profits and losses.
NSE:ELECTCASTLong
by KARANN_DINGRA
2
Nifty50 Day End Analysis 2023.06.06NSE:NIFTY currently into iii (pink color) of 5 (orange color) of 5 (blue color) of 3 (gray color). Wave ii (pink color) retraced wave i (pink color) by 61.8%. As Nifty is currently into Wave iii (pink color), expecting Nifty to take out the trendline (purple color - from ATH to recent high) resistance around 18650 by providing a gap-up opening tomorrow above that level (this is because in 3rd waves, critical resistances are normally taken out by having a gap-up or gap-down opening). Expecting Wave iii (pink color) to end around 18750 which is 161.8% extension of wave i (pink color). View remains invalid if Nifty closes below 18560 on hourly candle.
NSE:NIFTYLong
by MalayKJ
GBPAUD I Returning to the peak and possible rejectionWelcome back! Let me know your thoughts in the comments! ** GBPAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
19
Sell wheat everyday 🐻🍞Who sells wheat everyday? It’s the price-reducing wheat bears who want to provide us all with a cheap basic supply of food. "Affordable wheat for all," chant they, offering reduced-price bushels of wheat to anyone who comes their way. At the moment, they are not to be restrained in their sell-off ecstasy, however, we already see the low of the blue wave (v) lying shortly before us, which means that this sell-off should soon come to its end. The wheat price is already in our green target zone here (between USX 662 and USX 472), where we expect a trend reversal. The bulls should therefore report back before too long and point to the need for higher wheat prices. It should be noted that with the end of said blue (v) wave, an overarching and relatively long-lasting correction should also come to its end. Therefore, our green highlighted target zone can serve as an excellent entry opportunity for speculations on the long side.
CBOT:ZW1!Long
by MarketIntel
1
Mastering Elliott Wave Theory with Renko ChartsElliott Wave Theory is a popular technical analysis tool used by traders to predict market patterns and trends. Developed by Ralph Nelson Elliott in the 1930s, this method is based on the idea that financial markets move in repetitive cycles or waves. In this comprehensive guide, we will discuss the fundamentals of Elliott Wave Theory and explore how Renko charts can be used as a supplemental tool to enhance your analysis. By combining these two techniques, you can gain a deeper understanding of market movements and improve your trading strategies. I. Understanding Elliott Wave Theory Basic Principles of Elliott Wave Theory Elliott Wave Theory is built on the premise that markets exhibit specific patterns, known as waves, that reflect investor psychology. These patterns can be broken down into two types: 1. Impulsive waves: These waves move in the direction of the larger trend and consist of five smaller sub-waves. These waves are marked in green below and are numbered 1,2,3,4, and 5. 2. Corrective waves: These waves move against the primary trend and consist of three smaller sub-waves. These waves are marked in red below and are numbered A, B, and C. The 5-3 Wave Pattern The complete Elliott Wave cycle consists of eight waves, with the first five forming an impulsive pattern and the last three forming a corrective pattern. This 5-3 wave pattern repeats itself, creating fractal patterns in the market. Below we have taken the main Elliot wave listed above and broken it down into the first subset. The impulse waves are labeled i, ii, iii, iv, and v and the corrective waves a, b, and c. Applying Elliott Wave Theory to Trading To utilize Elliott Wave Theory in your trading, start by identifying the primary trend and its wave count. Analyze the price action to determine if the market is in an impulsive or corrective phase. By understanding the current wave pattern, you can predict probable future movements and make informed trading decisions. II. Renko Charts: A Supplemental Tool for Elliott Wave Analysis What are Renko Charts? Renko charts are a unique type of price chart that only consider price movement and disregard time. Each block, or "brick," on a Renko chart represents a fixed price increment. When the price moves by the predetermined amount, a new brick is added to the chart at a 45 degree angle from the previous. This results in a clean, easily readable chart that highlights significant price trends. Benefits of using Renko charts By eliminating the noise of insignificant price fluctuations, Renko charts can help traders: -Identify trends more easily -Spot support and resistance levels -Recognize chart patterns and potential reversal points -Filter out false breakouts and whipsaws How to incorporate Renko charts into Elliott Wave analysis Renko charts can be a valuable addition to your Elliott Wave analysis by helping you confirm wave counts and identify high-probability trading setups. Here's how you can incorporate Renko charts into your analysis: 1. Confirming wave counts: Use Renko charts to validate your wave count by comparing the impulsive and corrective waves on both the traditional and Renko charts. If the wave count is consistent across both chart types, it increases the likelihood of a correct analysis. 2. Identifying high-probability trading setups: Renko charts can help you spot high-probability setups by highlighting significant price trends and potential reversal points. Combining this information with your Elliott Wave analysis can increase the accuracy of your trades. Indicators such as oscillators and moving averages can be useful to help identify these set-ups. Renko charts should not be used solely to make decisions as they are a synthetic chart but are a highly useful tool for identifying the underlying trends. 3. Managing risk: Utilize Renko charts to set stop-loss and take-profit levels based on support and resistance levels. This can help you manage risk effectively and protect your trading capital. Conclusion Elliott Wave Theory and Renko charts, when used together, can provide a powerful framework for analyzing market patterns and making informed trading decisions. By understanding the basic principles of Elliott Wave Theory and incorporating Renko charts as a supplemental tool, you can enhance your technical analysis skills and increase your trading success. As with any trading strategy, remember to practice and refine your techniques before applying them to live markets.
Education
by LeafAlgo
2