Get started

Elliottwaveprojection

ALIBABA ($BABA): Technical Analysis on daily chartHi everyone! The main trend of $BABA is bearish on the daily chart, but most of the bearish momentum has already been worked on by the market. Having said that, even in the short term I remain bearish at least up to the support area, from there I cannot exclude some Reversal Pattern (see chart below). If this happens, an update to this analysis will be necessary because before trying to take a long position I want to wait for at least one clear signal (for example, an impulsive structure on the hourly chart). POTENTIAL REVERSAL PATTERN If we look at the Daily Chart, the support area could turn into something like a Right Shoulder of a potential "Inverted Head & Shoulders". 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
NYSE:BABA
by TheAnonymousBanker
EURUSD ForecsatEURUSD Forecast The correction EURUSD started in September 2022 is not over yet. We are forecasting that we only have finished the (A) from the (A)(B)(C) of the correction in the intermediate degree (blue) to end wave 4 (green). Therefore we still need to see the price making higher highs from the current position. We are forecasting this option as the most provable at this point because wave (A) seems like a clear motive wave for us. We clearly see 5 waves forming (A). That means that, as wave 4 in green (primary degree) has to have a corrective structure, there is still another wave up missing. What to do? We currently can not look to enter the market. We should be patient and wait for the price to break the 1.1033 level before looking for short-term buying opportunities. Alternative scenario We forecast that wave 4 in the primary degree (green) is not over yet. However, until the price does not break the 1.1033 level, we cannot discard the scenario where wave 4 is already over. If this is the case, the price will resume the downtrend directly, making lower lows. Unfortunately, today we cannot give you a trade idea for the EURUSD, but we hope you understand what the asset situation of the EURUSD is. As always, we will keep you updated Please remember to do not to risk more than 2% of your account on each trading idea
by TradingtheRightSide
ETHUSDT | Wave Analysis | Massive Bull Flag +70%Price action and chart pattern trading setup: > A potential ABC correction reversal pattern with MACD bullish divergence below baseline > The price is currently trading between SMA20D vs SMA50D > The current C wave position retraced 0.786 of A wave with a bullish inside combo pattern > Entry @ pullback SMA20 zone > TP1 @ bullish inside price action combo +25-30% near upper bull flag resistance and slightly above SMA200D > Stop @ C wave position -10-12% downside > Risk reward ratio: 2:1 If the price breakout this massive bull flag - this will confirm the new uptrend 1-2 pattern and the flag resistance will become the support with an estimated +70% upside from the current trading price. Always trade with affordable risk and respect your stoploss
Long
by dukeposh
III | Elliott Wave Projection - Corrective A Possible Breakout?Price action and chart pattern trading > Elliott Wave projection - a possible breakout of corrective wave A position at 0.618 retracement of previous wave 5. > Target Wave B zone estimated at 0.618-0.786 of the current wave A uptrend + 15 - 18% upside again > Stoploss at the lowest wave A position plus ADR average day range -5 - 7% downside > RRR 2:1 for short term trade Always trade with affordable risk and respect your stoploss
SET:IIILong
by dukeposh
BTC ForecastBitcoin Forecast Technically the correction (II) in the super cycle degree (red) should have reached the 12,230 level to end the correction and start the new bullish cycle. However, the possibility that this will not happen is high as it seems that in Nov 2022 we ended this long corrective cycle. Even though another push low is not 100% discarded, we forecast that the new bullish cycle is already in place. Therefore once we have a bullish sequence, we will be interested in buying BTC. This can happen this week. We will keep you updated. In the alternative scenario where BTC makes another lower low, we would buy it if the price reaches the 12.3 k level. Please remember to do not to risk more than 2% of your account on each trading idea
COINBASE:BTCUSDLong
by TradingtheRightSide
9988|Alibaba Wave Projection | Bullish Divergence - Rebound?Price action and chart pattern trading - Minor downtrend ending diagonal pattern with MACD bullish divergence > A possible wave 4.3 minor downtrend wave at the lower support 0.786 extension of wave 4.1 and upcoming rebound wave 4.4 to 0.382 - 0.5 fibonacci retraced from wave 4.3. > Target upside +10 - 12% while downside is -6%, RRR: 1.5:1 > The final downtrend wave 5 could be slightly below Target H&S zone. Always trade with affordable risk and respect your stoploss, nothing is 100%
HKEX:9988Long
by dukeposh
1
SPX clearly is going nowhere for nowTime for me to give my view on SPX for probably the next month. The EWT in this chart should only be used as a guide. It's very subjective and price action and geometry are what I give more weight, so lets discuss that for now. I'll also focus a bit on the indicators below the chart as well. First, notice the sell signal in January of 2022 which was the top of SPX. You had a sell signal on both the wave master and the momentum indicator that was stating that we were are the top of the price action. Next, notice the two times we got buy signals with confluence in both indicators. June 17, 2022 and October 13, 2022. These are both on the daily timeframes. Both times resulted in significant rallies. Finally, notice the last sell signal that we got. February 8, 2023. That is the first sell signal we've received in over a year (if you are solely looking for confluence across both indicators - which you should be). We've had a decent decline so far. Ok, now lets move to trendlines. First, notice the downtrend line (DTL) from the ATH down to the recent price pivot yesterday. This trendline is very important and I do not expect we will break it. Remember, this is an index made up of 500 stocks, so there's 500 different factors that will move this train. Likely, there will be money rotating in these underlying stocks which will keep price action above this DTL. Second, notice the uptrend line (UTL) from the low in October which is marked in yellow. We broke it. I suspect we will stay below this for quite a while. If we get back above it in the next few trading days, that would be the most bullish thing I've seen in a long time. Third, the price action between both trendlines is forming somewhat of a chuvashov fork. We'll likely just stay within the bounds of both trendlines until probably at least april before starting another trending move. Ok. Now how about sentiment. I'm starting to see more doomsday charts out there. It's not to the craze I'd like to see in order to flip bullish so this chop is probably going to build some kind of formation to feed the bears. I think we need more time to develop and this fork is going to really help define the future, at least short term, a bit. There's also a LOT of bulls out there that are talking about this DTL. We just successfully retested it. Is this a valid correction from my green wave A to complete wave B (green)? I don't think so. I think more time is needed. Why? TIME TIME TIME TIME TIME Look at the time it took to get from the bottom in October to the top in January. October. January. 4 months. Are you teling me the whole dang thing finished correcting in 3 weeks? Doubtful. We need more time. At least 8 weeks if we go half of the time. We're at the point now that a lot of people are getting 45DTE options OTM for upside plays and people late to the party shorting as well. Let's decay those options and squeeze them out. Give the market some time and by all means, make everything a short term play for now. We're likely in for a boring month but if the market decides to really get volatile, I'll be ready for that, too.
SP:SPX
by bitdoctor
2
KBANK | Elliott Wave - Wave 4 Support - Target Bull Pennant +30%Price action and chart pattern trading setup > Overall wave pattern moving in diagonal uptrend with a possible wave 4 triangle sideway. > Now making a strong pullback to triangle support could be E- wave of ABCDE pattern at EMA200W zone > Entry : A false triangle breakdown for a possible long entry between S1 and possible S2 > Target : bullish pennant at major wave 5 diagonal zone +30%. > Stop: Slightly below S2 -5% Always trade with affordable risk and respect your stoploss Good Luck
SET:KBANKLong
by dukeposh
Filecoin ($FIL): Technical Analysis on Daily ChartHi everyone! From a technical point of view, the trend on the daily chart is absolutely bearish, but at the same time, with the completion of the bearish impulsive structure (12345), I do not exclude the continuation of the corrective structure (bullish) in play. At the moment we do not have a confirmed bullish signal yet, but if in the short term we manage to trigger another bullish leg before the pullback, the trend could turn bullish again in the medium term. Technically speaking, in the short term, we have a support area around 7.26/6.66 and if $FIL is to turn bullish, it should be held. 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
Long
by TheAnonymousBanker
13
Gold ForecastGold Forecast Gold is in a bullish cycle, and we will look for long opportunities when we see a clear 3 legs-down corrective structure. Unfortunately, the connector (B) of the current (A)(B)(C) is too shallow and it does not retrace enough according to our strategy to allow us to enter when the price reaches the IZ (grey zone). We do expect the price will bounce from the IZ, but it can be only the connector from a deeper (W)(X)(Y), so we are not going to take this trade. What to do? 2 scenarios: -The prices resume the bullish cycle ->We should wait for the price to break the 1,960 level before looking for buying opportunities. -The price makes a deeper correction-> A new IZ will be created, and we will analyze its structure to check whether it is tradable or not. In any case, we will keep you updated on the TRS community Please remember to do not to risk more than 2% of your account on each trading idea
OANDA:XAUUSDLong
by TradingtheRightSide
SCB | Wave Projection | Pullback Trade @ Bullish Pennant SupportPrice action and chart pattern trading: > An possible ABC correction scenario with bullish pennant pattern or descending triangle > The price currently SMA20 crossing below SMA50 with MACD crossing down bearish support indicator > PULLBACK TRADE @ bullish pennant support level at a further breakdown with local doubled top pattern targeting -4.5% downside to fibonanci 0.786 extension of previous A-wave support level. > Risk Reward Ratio 3:1 Always trade with affordable risk and respect your stoploss!
SET:SCBLong
by dukeposh
GOLD: Consolidation in near term?Hello everyone! From a technical point of view, the major trend is bullish on large time frames, but in short term looking at the intraday chart, a consolidation of retracement around 1.844 area is possible. If we look on the hourly chart, the Price Action should develop a harmonic structure with the same target area. That said, the area around 1.883/1.891 is a strong resistance where the market will try to sell the yellow metal, we'll se.... ...trade with care! 👍 Cheers! N.B.: Updates will follow below If you think that my analysis is useful, please... "Like, Share and Comment" ...thank you! 💖
OANDA:XAUUSDShort
by TheAnonymousBanker
23