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Elliottwaveprojection

BTC Getting Ready to DROP - Read for more info!Bitcoin could enter a strong 3rd wave down soon which would likely send the price down to as low as 20700. Due to the formation of the 5 clear waves in orange, the next major move looks like it will be a steep drop down. A good entry on the short is at the Entry prices shown below. The volume profile on the left hand side shows a significant amount of volume at the 28000 price level. This price is also at the 50% retracement of all 5 orange waves, so this would be an excellent place to enter a short position. In addition, we have the upward sloping white trend line and the 0.618 (golden ratio) retracement at 28740 which would also be an incredible place to enter a short position. The stop loss is placed at the top of orange wave (1) because if the price goes beyond this level this count becomes invalid, although this seems highly unlikely to be reached. The take profit shown below is at the price equal to 1.618 * the length of waves (1) to (5) taken from the 0.618 retracement of all 5 orange waves. This is a common ratio for price to reach during a '3rd' wave down (which this would be if it plays out). According to Elliott Wave Theory "The 3rd wave is usually the longest and strongest". Entry Prices: 28741, 28056, 27387, 26897 Stop Loss: 31085 Take Profit: 20700 Disclaimer: Not financial advice and only intended for educational purposes
BITSTAMP:BTCUSDShort
by TradewithLu
Dollar Index ($DXY): Technical Analysis$DollarIndex could trigger a 3 or 5 wave swing on daily chart, and if this happens, the first Target should be around 106/107 area. That said, the trend remains bullish and the index should be bought on any correction. The technical structure on intraday chart is also very interesting, and it might be useful to develop it in our updates below as well. FUNDAMENTAL ANALYSIS (Click & Play on Chart below) Trade with care! 🚀 Like if my analysis is useful. Cheers!
TVC:DXYLong
by TheAnonymousBanker
4
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
APPLE (AAPL) Analysis - W3 develop Save time. Technical Analysis in just a few words. Daily Timeframe. AAPL is currently developing a bigger 3rd Wave on the upside. Long term direction: LONG It looks like Wave 3 is still unfolding on the upside. A correction will come soon, then a final Wave 5 will push on the upside (probably by the end of the year). That's it. Have a nice day! DISCLAIMER: The ideas shared in this context are strictly for educational purposes and should not be considered as financial or legal advice. Each individual bears full responsibility for their own trades and decisions.
CAPITALCOM:AAPLLong
by YExplore
DXY Analysis - 6 JuneSave time. Technical Analysis in just a few words. Daily Timeframe. DXY is currently found in a correction. Long term direction: Short If price goes under the marked price level, there is a high chance for the Wave 5 to continue to form on the downside. That's it. Have a nice day! DISCLAIMER: The ideas shared in this context are strictly for educational purposes and should not be considered as financial or legal advice. Each individual bears full responsibility for their own trades and decisions.
CAPITALCOM:DXY
by YExplore
NZD/CAD: Bearish consolidation still in play?From a technical point of view, $NZD/CAD pair could be attractive in near term. If we look at 2H chart we see the main trend is still bullish, but at the same time the potentially corrective structure may not be over yet. If this analysis is correct, our idea is to sell the pair on all technical rebounds on intraday chart. Target at 0.8150 and 0.8120. Trade with care! 👍 ...and if you think that my analysis is useful, please..."Like, Share and Comment" ...thank you! 💖 Cheers! N.B.: Updates will follow below
Short
by TheAnonymousBanker
4
USD Can Make A Pullback As US Yields DropUSD keeps moving higher, possibly on speculation that House vote on U.S. debt ceiling today will pass today. However, stocks are down, which can have something to do with China, where the PMI index declined once again, and also faster than expected. Technically speaking, USD is in uptrend, but yields found some resistance recently so I am wondering if USD is possibly also going to have limited gains. Looking at DXY intraday chart we see nice recovery, but now in late stages of an impulse from May 04 so we are aware of a pullback, possibly will show up as we will get an outcome from the House vote, or USD can slow down later this week when we will get the US NFP data. But keep in mind that we will be tracking only a correction here on XXX/USD pairs and that more upside will be expected for the USD, once DXY makes three wave retracement.
TVC:DXY
by ew-forecast
Gold looking BEARISHGold has had a fantastic bull run since December 2015, however this trend may be due for a reversal ahead. The Green wave 5 seems to have completed, so an entry on a short position can be taken at the current price of 1960.39 Further size can be added to the short if the price reaches 2068.32 as this could be the final push upwards before the reversal. The weekly RSI is "bearishly diverging" meaning we are seeing higher highs in price with lower highs in the RSI, although in this case the highs in price are at the same level. A conservative target that will commonly be reached is the 0.382 retracement of all 5 green waves at the 1641 level. Given that this is on the weekly chart, this could take between 6-12 months to play out. Entry 1 = 1960.39 Entry 2 = 2068.32 Take profit = 1641.51 Stop loss = 2185.85
TVC:GOLDShort
by TradewithLu
IOTA Is Looking For A Bigger RecoveryIOTA with ticker IOTUSD made an impulsive recovery into first leg (A)/(1) at the beginning of 2023 after we spotted a completed 5th wave at the end of 2023. It made a deeper decline recently, but it can be also trading in final stages of wave C of a higher degree A-B-C corrective drop within wave (B)/(2). However, to confirm support in place and further rally for wave (C) or (3) at least towards 0.30 area, we need to see a rebound back above trendline and 0.20 first bullish evidence level. Bullish confirmation is above 0.24 region, while invalidation level remains at 0.15.
BITFINEX:IOTUSDLong
by ew-forecast
NZDCAD: Short Term Technical AnalysisThe technical context on FX:NZDCAD pair has become slightly complicated. Last week we tried to follow a Bearish Pattern (see chart below) which although it worked well at first, sucessively invalidated the harmonic structure, so our decision to have a stop at breakeven was correct. That said, in order to follow some interesting Patterns, we need to wait until at least Monday's session to figure out which direction the pair will take in the short term. (Click & Play on Chart below) Trade with care! Like 🚀 if my analysis is useful. Cheers!
by TheAnonymousBanker
Render's Rally ending? Trading Insights & Retrace AspectsThe rally in Render appears to be reaching its conclusion. Over the past few months, Render has been an intriguing trading token, outperforming BTC by surging from 0.9 to its monthly resistance level of 2.93 (Bybit). Based on my wave count analysis, it seems that we are approaching the end of the rally at this resistance point. I observe a potential ending diagonal pattern, consisting of a fifth wave within a fifth wave within a fifth wave, characterized by declining volume. A final upward push towards the monthly resistance, accompanied by RSI divergence, could serve as a short trigger. Alternatively, a more cautious approach would be to wait for the breach of the extreme point of wave 3 within the ending diagonal. If a retracement occurs, the target could be a return to the previous fourth wave of a lower degree. This area coincides with a monthly resistance level, Fibonacci 0.618 retracement level, and the fixed range point of control for wave 4 according to my highest count degree. In conclusion, the success of this swing trade will depend on the extent of the upward movement before encountering divergences or a reversal. If realized, this trade has the potential for a risk-to-reward ratio of approximately 3.85. I will closely monitor Render for further signs of weakness, which could present a short-selling opportunity, or to observe if it breaks through the monthly support level accompanied by notable volume
RShort
by Ingvar77