MATIC HEAD AND SHOULDERS PATTERN MACRO OUTLOOK TARGET 1.50-1.70Exposing the Elliot Wave count and Head and Shoulders Pattern in MATIC/USDT chart.
We can clearly see a resistance level recently broken and bactested. These are strengh signs and should push MATIC towards the 1.50-1.70 area level quite fast in the upcoming weeks.
Projection:
Between January up to early mid February to reach the target.
Long Position open at 0,9660. Riding the wave up to 1.50.
SWING TRADE or low leverage position.
Elliottwaveprojection
TRADE_SETUP_10% upside in ABBThe stock can be seen moving up in an Elliot wave structure from Oct end bottom.
Wave I completed in Oct-Nov followed by a 38% retracement and then Wave III completed in Nov-Dec followed by a deeper 50% retracement.
Now the Wave V has begun in the stock from Dec 21.This particular wave also can be seen sub-dividing into minor waves like the previous 2 impulsive waves. Currently we at the wave ii of Wave V and waves iii, iv and v of V are yet to unfold.
The projected final target for Wave V is projected to be around INR5100-5150.
On the downside the low of 4529 is crucial and should be considered as an important swing low for all buys.
Note*- Views are based on personal opinions/observations. Please do your own research/analysis before making any trading/investing decisions.
KALPA-TARU can give 25% returns in short term!!The stock is currently in wave iii of III which is projected moving towards INR 895-910 zone.
'Wave I' unfolded in the stock from June-Oct 2023 and then the price witnessed a 50% retracement of the wave I in 'wave II' through the months of OCT-NOV.
The stock is now going for the completion of the 'Wave III' target of INR 895 but the 'Wave III'
is sub-diving into minor waves.
We could see a 'wave i' of Wave III in late Nov and a subsequent 70% retracement of the same through Dec.
Leaving aside the Elliot-wave counts and structure, the stock is also now attempting to go past a very strong supply/resistance zone of 695-710. The stock has made 3 attempts to clear above the zone in the past but not managed to do so but this time around the extra-ordinarily high volume could help. KPIL closed with a massive +7.85% gain along with nearly 30 fold increase in average daily volume.
Dr.Reddy's to move into the INR6000-6200 zone in Wave V of 3This Pharma giant has outperformed Nifty 50 in the entire 2023. Starting from Jan.2023 the stock has been making clean and strong impulse moves and easily beating the index returns for the entire year.
The stock completed wave I of 3 between Jan-May 2023 and completed the wave III of 3 subsequently between May-Aug 2023.
Between Aug-Oct 2023 the stock was in a complex wave IV correction and came out of the same with wave i of V of 3 in month of Nov.
The stock now has a minimum of three legs pending to the upside in order to complete the wave V of 3. The remaining legs should be considered as minor sub-divisions of the Wave V itself.
The stock is projected going into the INR 6000-6200 zone from current levels in the coming moves.
On the downside the low of INR 5471 remains a crucial support.
At current levels the stock offers an attractive RR of more than 1:3.
Note*- Views are based on personal observations and opinions. Do your own research before making any trading/investing decisions.
LINK - Liquidity Grab then Double Bounce to Infinity#LINK Update
Projection unfolding as it has multiple times across history. First grab some liquidity then one last bounce on top of support before moonshot...
EURUSD: Bullish consolidation in short term?From a technical point of view, a bullish consolidation on the intraday chart (30') is still possible. That said, the FX:EURUSD pair is triggering a corrective structure within a triangle (corrective Structure), so the bullish breakout should be able to push the price to 1.100 and then 1.1040 area.
Trade with care
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TRADE_SETUP_DABUR 10% MOVE IS STARTING NOW!This FMCG stock is spotted completing a complex triple three(WXYXZ)correction to a prior leading diagonal wave 1 that it had developed between October-Dec.2023.
The stock has made a 50% retracement of the 'wave 1' rise during the complex correction in the past three weeks.
Now that the corrective wave is nearing its end(or already ended), the stock should be expected to make a ''U-turn" from current levels and should attempt to move towards the INR 580 mark in coming weeks/months.
INR 520 can be used as an "SL" on the downside.
At current levels, the stocks offers an attractive risk reward of 1:5 for a short term trade.
Note*- Views are based on personal opinions/observations. Please do your own research before making any trading/investing decisions.
BTCUSDT bearish impulse waveBTCUSDT up-to-date. Price is retracing below USDT41400, which level is a limit for a impulse wave confirmation, from an Elliotician perspective. On this case, if price is rejected from this 78.6% Fibonacci retracement, we'll see a profitable leg downward to accomplish wave -3. Potential USDT40400 target, in demand zone, for this swing trade. Chaikin Money Flow below zero showing selling pressure in confluence with price action.
BTCUSDT IGNITING AN IMPULSE BEARISHAs an update from my first post on this new account, I'm showing u that on this 30m BTCUSDT chart that price is heading in a potential impulse wave (Elliot Wave Count). So, look on Chaikin Money Flow and u'll find a strong bearish divergence printed! Bears on command.
BTCUSDT reached supply BTCUSDT seems to be reached supply zone. Price action drew a logical dynamical resistence line - top formation - in a confluent Elliot Wave count. USDT 40400 is a potential target for short swing trade in an possible impulse bearish.
AUDNZD: Bullish Leg continuation?From a technical point of view, the FX:AUDUSD pair is very interesting and attractive, especially on a lower time frame. If we look at 1H chart we see that the pair completed 12345 bearish impulse structure (or part of corrective structure) and subsequently triggered reaction from wave 5. From our point of view, it should be correct to try to take a long position on pullback with Target 1 around to 1,078.
Trade with care
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EUR/USD ShortWe are currently in a possible ABC pattern. We are at the end of the correction and possibly gearing up for the next impulse move down. 800+ Pips on the eurusd
Nifty50 IndexThis is Nifty50 my tentative wave pattern. I think there is still a momentum of 100-200 points to form the top.
Crude Oil Is Looking For A RecoveryCrude oil is coming down now making five subwaves down from 80.00 so there can be some support not far away as higher degree corrective decline from October highs can come to an end soon. There is also a potential leading diagonal, which is a bearish structure, but still suggests that the market can stabilize a bit. RSI divergence also suggests that bears are losing strength. However, any short-term low is not confirmed, unless we see an impulsive move back above 72.60. But if you look at the current price move, we can already see price turning sharply today, which can be an indication for a higher rally.
#CADJPY Elliott wave analysishello dear traders and colleagues. Lets have a look at a very long term chart of CADJPY.
If we want to interpret the chart using Elliott wave principle we can see from the bottom that we have completed a 5 wave impulsive bullish move (corrective wave 4 is running flat formation) and then we can see a 5 wave bearish impulsive (which also labeled as wave A).
Now that the price reached the top unless we are witnessing a running flat we can expect that the bullish move as wave B is also reached its destination and from now we can wait for the wave C to be completed.
Initial target would be the previous low if we assume that this large corrective formation is regular flat.
For opening a position in case you want to use candle stick patterns you can wait for the weekly close and see if price formed evening star which seems possible.
Other than that you can always wait for price to penetrate the previous low or perhaps triggers can be found in lower time frame and following the lower time structure.
Also it should be noted that in case price close above last week high or close above resistance level this wave analysis is invalid.
Please let me know if you like this kind of long term analysis.
SP500 Is Targeting 4660-4740 Big Zone For Wave 5SP500 keeps trading higher in an impulsive fashion with five subwaves up in late stages when looking the 4h time frame. As such, be aware of some slow down as the market approaches the 4660 or 4740 area.
A Rocket Called Bitcoin Will Take Off SoonSince the beginning of 2023, the price of Bitcoin has risen significantly relative to other asset classes, demonstrating once again to Wall Street that “digital gold” should not be discounted even despite legal battles with FTX and Binance.
Moreover, in recent weeks, we have seen strong momentum in Bitcoin, bouncing off support with ease even in the face of criticism from US Senator Elizabeth Warren, who is attempting to impose tighter restrictions on many aspects of crypto.
From a technical analysis perspective, we believe that the impulse wave marked on the chart as (3) was completed on December 8, 2023. After which a corrective wave (4) began, which will end in the range of $37,800-$38,200 per BTC, which is a potential opportunity to consider opening a long position ahead of its halving in April 2024.
After the end of the correction, the first stop for digital gold that we highlight is $49,500-$50,000. On a more global scale, we expect its price to reach $110,000 in 2024.
What are we doing?
Considering the significant decline in natural gas prices in recent months and its high reserves in the US and Europe, we believe this will also positively impact the margins of mining companies such as RIOT and HUT8.
We plan to open a long position in RIOT when its price reaches $11.8-$12 per share.
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Analyst’s Disclosure:
This article may not take into account all the risks and catalysts for the stocks described in it. Any part of this analytical article is provided for informational purposes only, does not constitute an individual investment recommendation, investment idea, advice, offer to buy or sell securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental criteria or events change in the future, I do not assume any obligation to update this article.
Bitcoin Steps Into Temproary Corrective PhaseBitcoin is coming higher this year, moving very sharply through 2023, after a period of a consolidation that has been in play since March till Avgust of this year. We can see a nice and strong rise now, with some sharp extensions above daily base channel resistance lines and 40k area, so we assume that more upside can be seen as recovery is acting like an impulse. As such, be aware of further gains within a five-wave cycle for wave (C)/(III) up to around 48k - 50k area.
Looking at the 4-hour chart, we can see some slow down in last few days after Jamie Dimon comments and ahead of US CPI data. But we think it's just a wave 4 correction, where first support can be already at the EW channel support line and 40k area, but price action may stay slow then within a potential sideways bullish triangle pattern. However, ahead of US CPI and interest rate decision this week, be also aware of a deeper correction to 38k - 34k support zone, if the price breaks out of Elliott wave channel.
Bitcoin Cash Looks To Be Forming A Bullish Triangle PatternBitcoin Cash with ticker BCHUSD made a strong recovery back in July which might be wave III because a drop from $330 is overlapping, thus it can be a correction, so ideally that's a wave IV retracement, meaning that uptrend can still show up for wave V. But, maybe we will have to wait on a bullish breakout a bit longer as current price action since July can be an ongoing A-B-C-D-E triangle.
EURUSD H4/H1/M30 Long entry in to 5 Wave.I'm currently looking for long on EURUSD. Count is derived from h4,h1,m30.
Entry to (5) Wave of Elliott Wave count.
There is nice looking end of ABC in lower degrees.
SL: Under Invalidation level = TOP of (1)
TP: TOP of (3); Also posible TP on Higer level - use FIB Expansion from (1)+(2).
Tesla: Elon Musk Has A ProblemFounded in 2003 by visionary entrepreneur Elon Musk, Tesla has become a pioneer in the automotive industry. The company is one of the world's largest manufacturers of electric cars.
Beyond cars, Tesla has expanded its reach into renewable energy solutions, including solar panels and energy storage products. Musk's bold vision, commitment to technological advancement, and the company's relentless pursuit of sustainability have positioned Tesla as a transformative force in the intersection of transportation and clean energy.
Technical analysis
After the completion of the impulse phase, marked on the chart as ①-②-③-④-⑤, the price of Tesla shares continues to move within the downward trend.
We expect the share price to stabilize once it reaches $220, after which it will begin to move north to $250.
Fundamental Analysis
Tesla's revenue for the three months ended September 30, 2023 was $23.35 billion, up 8.9% compared to the third quarter of 2022.
Author's elaboration, based on Seeking Alpha
In addition to the company's margins continuing to decline, the Model S and Model X deliveries have continued to disappoint in recent quarters.
Author's elaboration, based on quarterly securities reports
Also, production and delivery volumes of Model 3 and Model Y, which are the cheapest in Tesla's line of cars, decreased compared to the previous quarter, which casts doubt on Musk's ability to attract new customers.
Author's elaboration, based on quarterly securities reports
The company's earnings per share (EPS) for the three months ended September 30, 2023 were $0.66, missing analysts' expectations of $0.07. But more importantly, this figure decreased by 37.1% compared to the previous year due to increased competition in the global electric vehicle market and lower prices for Tesla products.
Author's elaboration, based on Seeking Alpha
On the other hand, the company's fourth-quarter EPS is expected to be in the range of $0.55-$0.92, down 38.17% from the fourth quarter of 2023. Tesla's Non-GAAP (TTM) P/E is 65.26x, which is 361.86% higher than the sector average and 57.91% lower than the average over the past five years. The company's Non-GAAP P/E is 73.66x, indicating that it is overvalued in the current period as Chinese automakers continue to expand their presence in Europe and the United States actively.
Show your support by liking👍, following✅, sharing🙌, and commenting✍! Feel free to share your ideas and charts below. Your engagement is crucial in spreading the word and maintaining the relevance of the content. Thanks for being an essential part of this community!
Analyst’s Disclosure:
This article may not take into account all the risks and catalysts for the stocks described in it. Any part of this analytical article is provided for informational purposes only, does not constitute an individual investment recommendation, investment idea, advice, offer to buy or sell securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental criteria or events change in the future, I do not assume any obligation to update this article.
Bitcoin Is Breaking HigherAs expected, Bitcoin with ticker BTCUSD is breaking higher and we can see strong rise now, with some sharp extensions to 40k level. Notice that we see price in fifth wave, about we talked in our past updates when we were tracking fourth wave consolidation. Well, bitcoin is now moving out of that fourth wave now, with a strong and sharp reaction, so fifth wave can be even looking for resumption up to 43k-44k area where bulls can slow down, after five subdivisions within the current fifth wave. So as long as the market is trading above short-term 38424 invalidation level trend is up. But keep in mind that after every five waves, the cycle can change, so it can be a bit too late for any potential longs in the short-term. But longer-term trend is up, and will likely resume, especially after higher degree retracement.
🔴 META PLATFORM: Daily Technical Analysis & SetupHi Traders!
From a technical point of view, NASDAQ:META is very interesting for Day Traders, but at the same time it could also give some opportunities to Aggressive Traders (Intraday) in short term. Having said that, if we look at Daily Chart the trend is bullish in mid-long term, but in the short term we do not exclude a bearish consolidation before another rally. For Day Traders Setup is very simple, wait for pullback to take long position as shown on the chart. Money Management also seems interesting, with a risk of 2% we get a Risk/Return Ratio > 1:8 (not bad).
🔴 INTRADAY ANALYSIS
How can we get to our Setup Area?
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Now we need to understand how META could reach our Setup Area, and it could do so simply in two ways: with a bullish scenario (Top and Impulsive Structure still in play) or with a bearish scenario (ABC Pattern in play), as shown on two chart below. Both of these two scenarios should be able to reach our setup area on the daily chart:
Trade with care
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