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Elliottwaveprojection

Trading ETHUSDT with Elliot WavesHi Traders, Investors and Speculators of the Charts 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. In today's analysis, I'd like to present an easy-to-follow guide on using Elliot Waves for trading. Elliott Wave theory will require looking for a pattern of five consecutive waves before making a trading decision. Elliott Wave theory begins by identifying two different types of waves. Impulsive waves : Move in the same direction as the overall trend, 12345 Corrective waves : On the contrary, move against the overall trend. ABC Elliot Wave strategy needs to follow and abide by some strict rules in order to validate the 5 wave move. The three basic rules are : Wave 2 never retraces more than 100% of Wave 1. Typically, the retracement is between 50% and 61.8% of wave 1. Wave 4 never retraces more than 100% of wave 3. Typically, declines between 38.2% and 50% of wave 3. Wave 3 always travels beyond the end of wave 1 and it’s never the shortest one; Wave 3 will normally extend 161.8 x wave ❗ as above, A is close to Wave 4 There are also cycles within cycles. Think of it as a broccoli stem, where each flower head is composed up of many tiny smaller flower heads: Elliott Wave theory will require looking for a pattern of five consecutive waves before making a trading decision. Impulsive waves and corrective waves are perfect opposites. The most important thing is to observe the Macro trend before using Elliot Waves in other words, is the price in a bullish cycle or bearish cycle? Here are the basic steps to follow when trading with Elliott Waves: Step 1: Learn the Theory The first step is to familiarize yourself with the Elliott Wave Theory, which is based on the idea that financial markets move in predictable patterns. The theory suggests that market prices move in waves, with each wave representing a specific part of the overall trend. The theory identifies two types of waves: impulsive and corrective. An impulsive wave consists of five smaller waves, which move in the direction of the trend. A corrective wave, on the other hand, consists of three smaller waves, which move against the trend. Understanding the basics of Elliott Wave theory is crucial to trading with Elliott Waves. Step 2: Identify the Trend The next step is to identify the trend in the market you want to trade. This can be done by analyzing the price action on the chart. To identify the trend, look for a series of higher highs and higher lows for an uptrend, or lower lows and lower highs for a downtrend. Step 3: Look for Wave Patterns Once you've identified the trend, you need to look for wave patterns within the trend. An impulsive wave is made up of five smaller waves, and a corrective wave is made up of three smaller waves . These waves can be identified by analyzing the price action on the chart. Step 4: Use Indicators to Confirm the Wave Patterns While identifying wave patterns on the chart is important, it's also a good idea to use indicators to confirm the patterns. Some of my favorites include the Relative Strength Index (RSI) , Moving Averages (MA) and CryptoCheck START v3. Step 5: Enter and Exit Trades Once you've identified the trend and wave patterns, and confirmed them with indicators, you can enter a trade. You can use the wave patterns to identify potential entry and exit points. For example, you may want to enter a long position at the start of an impulsive wave and exit when the corrective wave begins. Step 6: Manage Risk 💭 Finally, it's important to manage risk when trading with Elliott Waves. This can be done by placing stop-loss orders to limit losses if the trade goes against you. It's also a good idea to use proper position sizing to ensure that you're not risking more than you can afford to lose. On the chart I have wave 4-5 hanging in the air atm, let's get to wave 3 first and then we can re-asses where 4-5 may be. Important to note that is is a longer term trading plan. _______________________ 📢 Show us some LOVE 🧡 Follow for daily updates and trade ideas on Crypto , Stocks , Forex and Commodities 💎 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
19
BHARTI AIRTEL - POSSIBLE ELLIOT WAVE COUNTSHELLO FRIENDS, Today I am sharing the possible ELLIOT WAVE counts of BHARTI AIRTEL on monthly, weekly and daily time frames. Bharti Airtel is in wave (5th) of 3rd wave of bigger impulse wave 12345. Generally as per ELLIOT WAVE guidelines, bigger wave 3 may go up-to 1.618 of fib levels which is around 1060 on spot chart and also shown in the charts given below. WAVES and DEGREES to refer and understand the chart smoothly. Bigger Wave - 12345 one degree lower wave - (12345) two degree lower wave ((12345)) three degree lower wave - (((12345))) Time frames and ELLIOT WAVE COUNTS MONTHLY - BHARTI AIRTEL is in the 3rd Wave of bigger Wave 12345 WEEKLY- It is in the ((5th)) wave of smaller degree wave ((12345)) which will complete Wave (3rd) and then after we can see some correction in wave ABC or ABCDE to complete wave 4 and after completion of wave 4, the price will again move towards north to start wave (5th) that will complete bigger wave 3rd DAILY- It is in the smaller degree wave (((1))) of higher degree wave ((5th)) which will complete the wave (3) monthly time frame chart which is showing that the price is in wave 3 of bigger wave 12345. weekly time frame chart showing that the price is in wave ((5th)) of wave (3) daily time frame chart showing that the price is in wave (((1))) of wave ((5)) It has also give a breakout of BASE FORMATION PATTERN with intensity is volume (i.e. volume is above MA) at the time of breakout, trend indicator such as MACD and Oscillators such as RSI also shows strength in price. MACD in daily MACD in weekly RSI in daily RSI in weekly Price is also above 100 Exponential Moving Average in Daily Time Frame Summary- Price showing UPTREND as per Elliot Wave and also Price has given Breakout with good intensity in volume which again supports our bullish view. Price have given close above 100 EMA which also signifies the bullish view. trend indicators and Oscillators are aligned in double time frame which boosts the importance of our view. Thus, stock is supposed to move in north. DISCLAIMER I am not SEBI registered analyst. please consult your financial advisor before investing. My studies are for Educational purpose. I am not responsible for any kind of your profits and losses.
NSE:BHARTIARTLLong
by KARANN_DINGRA
Weekly Update: So Far... Everything is Going According to PlanI’ve shared this chart with my followers for a couple months now. You can check my posting history to see how the forecasts have NOT changed, but the chart is filling in nicely. Tracking the minutia at the micro level has been maddening over the last month. In my trading room I’ve advised my members to focus on the intermediate term pattern depicted in the above chart. Nonetheless, yesterday’s seemingly straight up move after about 9 am I’m sure scared traders who were positioned short. The irony of yesterday’s price action was although price traded not unexpectedly in my micro target box perfectly, I was expecting that sort of price action to take up till Monday or Tuesday of next week. So, in today’s market I’m not ruling out one more high into the 4170 area which would be the .786% retracement area. Much above that and the potential gets raised of invalidating our triangle pattern we started back in the last week of December 2022. But with no violation of the micro target box region which stood at 4130-4170 when price was at 4068.75 I have to continue to adopt the triangle pattern. So how does this triangle pattern conclude? I have guided both members and followers of my work with red arrows on the above chart since the end of February 2023 when the triangle pattern was first given credence. Currently, I am projecting this pattern to conclude mid-to-third-week in May. Yesterday’s price action has caused me to adopt a more sub-divided a-wave of our larger e-wave of the triangle, to complete our primary circle B. This was adopted after what I originally would be our a-wave came up slightly short of the 4064-4065 area, followed by a quick a-b-c retracement yesterday into 4166.50. Yesterday’s price action, although introduced further complexity and sub-divisions into what I am projecting as an e-wave bottom in a larger triangle B…to the degree we do not eclipse 4170, but ultimately 4198.50 (which would be a new short term high). I have to say… so far, everything is going according to plan.
CME_MINI:ES1!
by maikisch
8
BTC can STILL BE BULLISH after 50% dropHi Traders, Investors and Speculators of the Charts 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Before you panic, make sure you check out this idea of yesterday on Elliot Wave Theory analysis : From the video analysis on Bitcoin, we've confirmed that the bearish cycle is over and a new wave is starting. It's not uncommon for the price to drop 50% during wave 1 of the 12345 Waves. From a macro perspective, the price will still be in an uptrend. Note that this doesn't happen in a day, or even in a week but over a coupe of weeks, sometimes even 2-3 months where it seems like BTC is not going anywhere and the weak hands are shaken up before the parabolic run which is Wave 3. I believe Wave 2 starts when CryptoCheck START v3.5 flashes a sell: You can swing trade the Elliot waves in wave 2, but be ready when wave 3 arrives so that you won't find yourself positionless during a parabolic run. _______________________ 📢 Show us some LOVE 🧡 Follow for daily updates and trade ideas on Crypto , Stocks , Forex and Commodities 💎 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
32
Prepare for Impact: Scorpio Tankers Approaching Free FallScorpio Tankers Inc. (STNG) appears to be headed for a downside based on two significant factors - the impact of the oil market and the approach of Wave 3 in the Elliott Wave Theory. The recent downturn in the oil market has hit the entire industry hard, and Scorpio Tankers is no exception. As a company that operates in the oil tanker shipping industry, the drop in oil prices and demand for oil transportation services will have a significant impact on its revenue and earnings. Additionally, from a technical analysis perspective, Scorpio Tankers is approaching Wave 3 of the Elliott Wave Theory. After touching the 0.786 Fibonacci retracement of Wave 2, the stock saw a sharp decline, indicating that Wave 3 may be on the horizon. Based on this analysis, investors should look for the price of Scorpio Tankers to head towards the range of TASE:47 - TASE:43 in the near future.
NYSE:STNGShort
by UnknownUnicorn910751
1
USDCAD: Mid Term Technical AnalysisOn daily chart is visible the reason why we took a long position at 1.3327 (see setup below), but the most important thing is to see how the channel is the Price Action main driver! On a bullish side, Price action is developing something like ABCDE Pattern, not confirmed yet, it has our setup level (1.3327) as support. As shown on daily chart, when the rally is over, the Price Action will trigger an interesting corrective structure (pullback or bearish reversal) in short term (maybe visible on only small time frame). OUR STRATEGY FOR NEXT WEEK Use intraday time frame (preferably 1H) for area resistance detection. Find support levels after correction structure. Follow the short term development, click on chart below. Note: Updates will follow below. Trade with care! Like if my analysis is useful. Cheers!
by TheAnonymousBanker
2
BCHUSD | Wave projection | Doubled Bull Flag Move +50%Wave Analysis with price and chart pattern > A possible ABC motive wave bullish scenario with a doubled bull flag pattern support, the price currently within the second bull flag local pattern. > This doubled bull flag is forming a major inverted head & shoulders reversal pattern. > Medium term target @ upper rising channel resistance for bull flag pattern + 50% upside > Pullback Entry at the rising channel support liquidity swing zone with potential false breakdown area. Always trade with affordable risk and respect your stoploss! Good Luck
COINBASE:BCHUSDLong
by dukeposh
2
USDCAD: Sell the rally in short term?We already used this pair for some trades last week (see chart below), but from my point of view, it still remains interesting in the short term. From a technical point of view, FX:USDCAD pair is developing something of an impulse structure (12345) on hourly chart, and my idea is to try to take a short position on the last impulsive wave (5) with a first target area around 1.3526. OUR LAST SETUP (Click & Play on chart below) Note: Updates will follow below. Trade with care! Like if my analysis is useful. Cheers!
Short
by TheAnonymousBanker
1
EURUSD: Consolidation in short term?Last week we already gave the signal to sell from Top, so today we will only follow some short-term updates. Well, technically speaking, the main trend (daily chart) is bullish, but if we look at the hourly chart, some bearish consolidation is still possible. That said, in the updates that follow below, we'll be looking for some interesting technical levels. TOP REVERSAL AREA (Click & Paly on chart below) FUNDAMENTAL ANALYSIS (Click & Paly on chart below) Note: Updates will follow below. Trade with care! Like if my analysis is useful. Cheers!
Short
by TheAnonymousBanker
Bitcoin Wyckoff and Elliott WaveThis is the structure I have been discussing on Twitter, YouTube, and elsewhere since the June 2022 swing low. Wyckoff methodology indicates that it is likely accumulation. The Elliott Wave count may or may not be correct locally. We want to see an impulsive breakout above that ascending red dashed resistance to signal that the wave ((ii)) flat structure may be complete, but a breakout above wave (b) is required to add confidence to that count. Further breakdown has a target of the daily pivot. If the count is correct, then wave ((iii)) of 3 has a minimum expected target of $42350 from here. The Daily RSI is printing hidden bullish divergence at the moment, but we need confirmation that it is complete. The daily Stoch RSI has reset into oversold, so a breakout of oversold would add more support to the idea that wave ((ii)) is complete. We can also note the red parabola. While price remains above that curved line we should continue to expect higher, overall, rather than a larger pullback. Let's see if we can get that rally from somewhere around this area.
COINBASE:BTCUSD
by Chris_Inks
8