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Elliottwaveprojection

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
Nifty analysis as on 2023.05.23NSE:NIFTY Possibility 1 (Blue color waves): Nifty is currently in Flat correction ABC. Ongoing phase is wave B, which should end around 18458 and then Wave C should start which takes Nifty back to the level of end of Wave A 18060. Also, it may happen that wave B extends beyond 18458 till 18570-18610 as part of expanded flat correction type ABC. Possibility 2 (Orange color waves): Nifty is currently into impulse waves 12345. Ongoing wave is wave 3, which should end around 18650. In any case, the immediate key level for Nifty is 18460. Daily close above it can take it to 18570-18610 level.
NSE:NIFTY
by MalayKJ
NVIDIA ($NVDA): Trend is still bullishFrom a technical point of view, NASDAQ:NVDA 's trend is bullish on daily and intraday charts, and after some correction, NVIDIA Stock should trigger at least the latest rally. That said, if we look at 1H chart, we see a completed wave 3 and a corrective structure in play. The 309/303 support area should limit a potential pullback before a price recovery, , and as shown on chart, the amplitude of wave 5 should be around 7%. Trade with care! Like if my analysis is useful. Cheers! About INVIDIA NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users. The Tegra Processor segment integrates an entire computer onto a single chip and incorporates GPUs and multi-core CPUs to drive supercomputing for autonomous robots, drones, and cars, as well as for consoles and mobile gaming and entertainment devices. The All Other segment refers to the stock-based compensation expense, corporate infrastructure and support costs, acquisition-related costs, legal settlement costs, and other non-recurring charges. The company was founded by Jen Hsun Huang, Chris A. Malachowsky, and Curtis R. Priem in April 1993 and is headquartered in Santa Clara, CA.
NASDAQ:NVDALong
by TheAnonymousBanker
2
GBPNZD: Target 1 hit! 💗...What's next?As we can see from our last setup (see chart below) the FX:GBPNZD pair reached our first target around 2.0087, but at the same time, I don't rule out reaching our old Target 2 (now Target 1) around 1.9850 area. Technically speaking, the pair might develop something like an ABC Pattern as the main trend still remains bullish on intraday chart. PREVIOS ANALYSIS (Click and Play on Chart below) Trade with care! Like if my analysis is useful. Cheers!
Short
by TheAnonymousBanker
21
Predicting the bottom of AvalancheAVAX/USDT.P on BYBIT Looks like the W-X-Y pattern is coming to an end and we will try to predict the bottom as best we can to catch a swing trade of wave C or even a 3 and a new rally. If the count is right and the weekly support level at 13.910 does not hold, a one to one (of the W-X-Y) price target will be next. We could speculate the weekly level then will serve as a SR flip to confirm the start of the last wave 5. Watch out for the weekly bar ending as a spinning top or doji for a bullish reversal up to wave 4 of 3 of C of Y in the last zig zag. Risk For me the stop level would be either right under weekly level at 12.180 or at the low of 10.535 also giving a double bottom setup. If we se it go all the wave to the high of wave A we could se a Risk/Reward ratio at a proximally 6. Targets First target for locking in profit would be the weekly level at 13.910 then we have the point of control for the whole correction at 17.285 and the high of A or 1 at 22.795. Avalanche Market Cap Avalanche market cap is now ricing to $4,741,712,576 and as of writing the trading volume (24h) is $132,773,075. Conclusion I will continue watching the price action on Avalanche and if it will continue to decline and unfold in way similar to the predicted pattern. It could be an interesting swing trade to the upside for a low risk.
Long
by Ingvar77
TSLA | TFW Wave Projection Triple Correction - Reversal PatternTesla : Wave projection with a triple combo correction scenario - 1. extended flat 2. zigzig 3. potential a triangle reversal pattern breakout downtrend line. This week is moving below wave b.b.b downtrend baseline, squeezed between ma50w and ma200w - still choosing breakout side. The price could retest and fakebreak ma50w - a possible short entry targeting near the previous liquidity support level. RRR: 2.5:1 Always trade with affordable risk and respect your stoploss!
NASDAQ:TSLAShort
by dukeposh
Weekly Update: The Triangle Count was Invalidated, Now What?Since the December lows of 3788 ES, I have been tracking a triangle pattern that would have reconciled higher in my target box for a larger B-wave. Readers can look at previous postings to see what I have been forecasting. Last week, SPX Futures breached the 4208.50 level. So, with that, the final micro target of an e-wave was invalidated and thus the triangle count abandoned. With respect to a triangle pattern, two topics I continue to share with my members in our trading room is (1) Triangles are rare patterns, and (2) they typically invalidate between the D and the E wave, only to reveal a much simpler pattern. Yes, it is true price patterns can become complex when in the midst of a counter trend corrective rally or decline. However, I tend to keep my labeling simple rather than defaulting to the complex as many of these patterns tend to be viewed as simple zig zags in the rear-view mirror. That is what we have been presented with now that price has invalidated the more complex triangle pattern as featured above. Here's where things get tricky. For the Elliott Wave uninitiated, after an A and B waves you get…” Wait for it” …a C wave. Anyone who follows or practices Elliott Wave Analysis would agree when I say that a C-wave feels like a Crash when the reconciliation is to the downside, or a parabolic move when the trend is up. If you wish to challenge that my determination of that feel free to post your comments below. I will admit in the short term, there appears to be some work to do to the upside for our A wave to equal our C wave higher. But here’s the most important piece of information I share with you today. With the breach of 4208.50 last week, I now have the minimum waves in place to consider this counter trend rally complete. However, as of the time of my authoring this weekly update, I have no immediate information that our upside pattern is complete. Let’s discuss what I expect now, and what clues we will see before such a “Crash Event” lower is underway. My Expectation: Let me start with the mathematical sweet spot for the counter trend price action to complete and reverse from. That price point is the .618% Fibonacci retracement level up at 4309.50. That would mean we have about only about 2.8% upside left to go from current levels. However, the reasonable target area higher (above the .618% level at 4309.50) could extend at maximum to the price area of 4529. That is the .786% retracement level. In fact, prior to that level, price would have to exceed the 1.0 extension level higher at 4517. So, let’s assume that everything goes right with the Fed, Inflation, the Jobs Market, and Not to mention the debt ceiling…4529 would be the statistical anomaly for higher price action. So, what’s my expectation higher: Provided we do not breach 4062.25 then I think it’s reasonable to expect 4309.50. Below 4062.50 and the possibility we are in our C-wave down to NEW LOWS, starts to get higher. Disclaimer: If you have gotten this far in this post then you have read all of the above. Many of the comments I receive here on TradingView...are from people who scan my posts...but have a lot to comment on...al of which I address within the context of my posts. Just like trading...reading is hard. Best to all, Chris
CME_MINI:ES1!Short
by maikisch
BNBUSDT BEARISH, Bulls be careful!This analysis is on BNBUSDT however, it relates to the market as a whole as all major crypto coins usually trend in the same direction. This (A)(B)(C) Elliott Wave pattern indicates weakness from the bulls. Wave (C) formed an "ending wave diagonal" where wave 3 is shorter than 1 and 5 is shorted than 3. This usually indicates exhaustion from the bulls and a reversal to the downside. The red box indicates an area that would be good to enter a short position. The green box is where previous support was found due to high levels of volume being recorded. The green box is also where (D) would equal 0.618 (the golden ratio) of (B). This is a common ratio for wave (D) if an ABCDE triangle was to form. In order to reach this level, the price would need to break below the upward sloping trend line. I hope this helps you with your trading and as always, good luck! Disclaimer: Not financial advice, intended for educational purposes only
Short
by TradewithLu
Bitcoin Is Finishing A Corrective DeclineBitcoin with ticker BTCUSD made nice and clean A-B-C correction in the 4-hour chart as mentioned and highlighted. We can actually already see it trying to wake up from the first 26k support area, but to confirm a completed correction, we need to see a recovery back above channel resistance line and 29k region. Just in case if correction is still in progress, then next deeper support is at 25k-24k that can be tested within an ending diagonal (wedge) pattern for wave C according to count #2.
BITSTAMP:BTCUSDLong
by ew-forecast
1
GameStop ($GME): Potential Consolidation in mid-termGameStop Corp. offers games and entertainment products through its ecommerce properties and stores. It operates through the following geographic segments: United States, Canada, Australia, and Europe. Each segment consists primarily of retail operations, including stores and ecommerce properties focused on games, entertainment products, and technology. GameStop offers new and pre-owned gaming platforms from the major console and PC manufacturers, sells new and pre-owned gaming software for current and certain prior generation consoles, and offers a variety of in-game digital currency, digital downloadable content, and full-game downloads. The firm’s stores and ecommerce sites operate primarily under the names GameStop, EB Games, and Micromania. Its pop culture themed stores also sell collectibles, apparel, gadgets, electronics, toys, and other retail products for technology enthusiasts and general consumers in international markets operating under the Zing Pop Culture brand. The company also publishes Game Informer, a print and digital gaming publication. GameStop was founded by Daniel A. DeMatteo in 1996 and is headquartered in Grapevine, TX. From a technical point of view, the trend is still bullish on weekly chart (Log Scale), but at the same time, a breakout of the previous low should trigger a bearish leg with a first Target around $9.70 area. Trade with care! Like if my analysis is useful. Cheers!
NYSE:GMEShort
by TheAnonymousBanker
1
FERRARI ($RACE) at the resistance area!From a technical point of view, Ferrari ( NYSE:RACE ) Stock Trend is bullish, but at the same time it has reached an important resistance area around $300/320, and from here it could trigger a short-term corrective structure. The minor structure 12345 might be completed, but as we can see from the chart, it might be a wave 5 of 3 (major), so once the correction is completed, I don't rule out a new bullish leg. Trade with care! Like if my analysis is useful. Cheers!
NYSE:RACEShort
by TheAnonymousBanker
Bitcoin ($BTC): Next potential swing on intraday chartFrom a technical point of view, and at least for the moment, we have to consider the last bearish leg as a simple pullback or part of a corrective structure. The main support area is around 26.450/26.000, and if it will works properly, it should trigger an interesting bullish leg. The main support on daily chart is around 26,750 and the trend on weekly chart is still bearish. Note: Updates will follow below. Trade with care! Like if my analysis is useful. Cheers!
by TheAnonymousBanker
13
Nifty50 Analysis: 2023.05.19Medium term view (no short term): - It looks like Nifty50 is forming a leading diagonal as part of wave a (yellow line). - Currently it may be into wave iv of wave a. - For this set up to be true, Nifty must reach around 18200 to mark the end of wave iv and from there retrace to form wave v of wave a. The entire wave a should complete around 18000. - After completion of wave a, Nifty should touch around 18180 - 18230 to complete Wave b. - After completion of Wave b, it should all fall down to the level of 17850-17800, which is also 38.2% retracement of entire impulse since previous bottom of 16828.
NSE:NIFTYShort
by MalayKJ