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Spotting the Trend: The Birth of Wave 3Technical Analysis Using Elliott Wave Principles on exampled chart of SBI Cards (Daily Time Frame) This analysis is for educational purposes only and is not intended as financial or trading advice. Market movements are inherently uncertain, and the analysis is based on one possible interpretation of the Elliott Wave structure. Please consult a financial advisor before making any trading or investment decisions. Introduction to Elliott Wave Principles: Elliott Wave Theory is an analytical framework that helps traders and investors understand market psychology through price movement patterns. The theory suggests that market prices unfold in waves, which are driven by collective investor behavior. The patterns consist of five waves in the direction of the main trend, followed by three corrective waves. Understanding these wave patterns allows us to anticipate future price movements with greater accuracy. Key Elliott Wave Principles: 1. Five-Wave Impulse Pattern: The primary trend unfolds in five waves (1-2-3-4-5). Waves 1, 3, and 5 move in the direction of the trend, while waves 2 and 4 are corrective. 2. Three-Wave Corrective Pattern: After a five-wave sequence, a correction typically follows, consisting of three waves (A-B-C) that move against the primary trend. 3. Wave Relationships: Fibonacci ratios play a crucial role in Elliott Wave analysis, often governing the length of the waves. 4. Wave Characteristics: Each wave has its own set of characteristics. For example, Wave 3 is usually the most powerful, showing the strongest price movement, while Wave 5 may signal the final push before a significant correction. Current Elliott Wave Analysis on SBI Cards Wave Structure Overview: - The analysis focuses on the daily time frame of SBI Cards, where we can identify a completed corrective pattern and the beginning of a new impulsive wave structure. Wave Count Details: 1. Primary Count: - The chart indicates the possible completion of Wave ((2)) in black, marked by a complex corrective structure, ending near the 493.30 level. - The price has likely begun unfolding Wave ((i)) of Wave 1 in red of the larger Wave ((3)) in black. 2. Current Daily Structure: - Wave ((2)) seems to have completed with a three-wave corrective move, labeled as A-B-C. The final wave C (marked in red) appears to have ended at 493.30, representing the termination point of Wave ((2)). - Following this, the initial sub-waves of Wave 1 (red) have begun forming, with Wave ((i)) currently unfolding. - The nearest Invalidation Level for this wave count is 647.95. A break below this level would invalidate the current count, requiring a re-evaluation. Wave ((3)) Characteristics and Projections: - Wave ((3)) Characteristics: As per Elliott Wave Theory, Wave ((3)) is often the most dynamic and extended wave, reflecting strong momentum in the direction of the main trend. It’s typically the longest and most powerful of the impulsive waves, often reaching or surpassing the 1.618 Fibonacci extension of Wave ((1)). - Target Levels: For Wave ((3)) in black, potential targets could be calculated using Fibonacci extensions from Wave ((1)) & ((2)), projecting prices towards 161.80%, hear possibility for short to medium term could be 960.00 and beyond if Invalidation level is not Triggered, depending on the strength of the momentum. - Invalidation Level: If the price drops below 647.95, it would invalidate the current wave count, indicating that Wave ((2)) may still be in progress or that an alternative structure is developing. Conclusion: The analysis suggests that SBI Cards may have completed a major corrective wave and is now in the early stages of a new impulsive sequence. The focus should be on the development of Wave ((3)) in black, which has the potential to drive prices significantly higher if the wave count holds true. As always, this educational analysis is not intended as trading advice, and one should consult with a financial advisor before making any investment decisions. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:SBICARDEducation
by RK_Chaarts
7
Decoding the Final Wave: An Elliott Wave PerspectiveTechnical Analysis Using Elliott Wave Principles on example of Larsen & Toubro Ltd. (Hourly Time Frame) The analysis presented is purely for educational purposes, demonstrating the application of Elliott Wave Theory. It is not intended as trading or investment advice. Markets are unpredictable, and all analyses have a degree of uncertainty. Introduction to Elliott Wave Principles: Elliott Wave Theory is a powerful tool used by traders and analysts to decipher the underlying structure of market price movements. Developed by Ralph Nelson Elliott, this theory is based on the idea that market prices unfold in specific patterns known as "waves." These waves are driven by collective investor psychology, moving in predictable cycles of optimism and pessimism. The theory is broken down into two main phases: the impulsive phase, which moves in the direction of the main trend, and the corrective phase, which moves against it. Key principles to remember: 1. Wave Structure: An impulsive wave (motive wave) consists of five waves (1-2-3-4-5) in the direction of the trend. A corrective wave is composed of three waves (A-B-C) that move against the trend. 2. Wave Personality: Each wave within the Elliott Wave structure has distinct characteristics. For example, Wave 3 is often the strongest and longest, while Wave 5 tends to be a final push before a trend reversal. 3. Wave Relationships: Fibonacci ratios are frequently observed in wave relationships, providing potential price targets and retracement levels. 4. Validation and Invalidation Levels: These levels help in determining the accuracy of wave counts and projections. If price breaches the invalidation level, the wave count is reassessed. Current Elliott Wave Analysis on Larsen & Toubro Ltd. Upon analyzing the hourly chart of Larsen & Toubro Ltd., we can observe the following wave counts and structures: Wave Structure Overview: - The chart shows a complex corrective structure following a significant impulsive move. The price action seems to be in the final stages of a larger wave pattern. Wave Count Details: 1. Primary Count: - We are potentially in the 5th Wave (red) of the final (5)th Wave (blue) on the daily time frame. - The 5th wave, according to Elliott Wave Theory, often exhibits certain characteristics such as declining momentum, signaling the end of the trend. 2. Current Hourly Structure: - Wave (4) in Blue has been completed at the price level near 3175.05, marking it as the last corrective wave before the final impulsive wave. - The chart illustrates a five-wave sequence emerging from this level, indicative of the development of the 5th wave. - Within this structure, we can identify sub-waves: - Wave 1 peaked around 3720. - Wave 2 retraced back near 3460. - Wave 3 is anticipated to push towards higher levels, with Wave 4 and 5 completing the sequence. Wave 5 Characteristics and Projections: - Wave 5 Characteristics: [/i ] Typically, Wave 5 in a motive wave structure can be either strong and extended or show signs of divergence, where momentum indicators such as RSI or MACD might not confirm new highs. - Projection Target Levels: Based on Fibonacci extensions, potential targets for Wave 5 lie around 4141.30, 4352.60, and even possibly towards 4400.00. - Invalidation Level: If the price breaks below 3175.05, the wave count would be invalidated, necessitating a reassessment of the entire structure. Conclusion: The analysis indicates that Larsen & Toubro Ltd. is in the final stages of a larger wave pattern, specifically the 5th wave of an impulsive sequence. As this wave unfolds, it’s crucial to monitor the target and invalidation levels closely. This educational analysis serves to illustrate the application of Elliott Wave Theory, with no intention of providing trading advice. Always consider consulting with a financial advisor before making any investment decisions. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:LTEducation
by RK_Chaarts
6
$XAU | Watchlist | Sell Limits |Technical Confluences: - Stochastics is very close to Overbought conditions in D1 timeframe - Price is close to the 161% Fibo Extension Line - Projection using Elliot Wave count is pointing that the price may push up towards the Fibo Extension Line Fundamental Confluences: - With ongoing geopolitical tensions between Israel & Iran, there is a pressure for XAU to remain supported - The reversal carry trade story may have legs to further push XAU up another leg as a safe haven - With incoming FED cuts, there is potential for a weaker USD coming into September - The above 3 points are the supporting for a higher XAU price. - Assuming we hit the Wave 3 projected price, the US election will pose a big risk to the global outlook and may see USD strengthen back during that period. A stronger USD may induce a weaker XAU. ----- Will be placing Sell Limit orders and update if the projection comes true. Remember, DYOR. -----
OANDA:XAUUSDShort
by weekendanalyst
The Rip you Short? or the last Dip to buy?Last week's decline DID NOT BREACH THE APRIL LOWS . To be 100% objective, as long as price is above the April lows, we still retain the ability to make one more high. That is the purple arrow on the above chart. Price will need to breach 5587 in pretty much a straight shot now, as this would be a wave 3. However, that is not my primary analysis. My primary analysis is the ES Futures market is in the final stages of it's minute circle b-wave. that should complete in the target box on the chart. From there, price should be declining in minute circle c-of Minor A. In the ES that should be in the area of the April lows, or slightly below 5,000. Best to all, Chris
CME_MINI:ES1!
by maikisch
ULTRACEMCO: Wave ((iv)) Correction and Future ProjectionsTechnical Analysis on Exampled chart of Ultracemco Using Elliott Wave Theory As always, this analysis is provided for educational purposes only and should not be taken as financial advice. Proper risk management and consultation with a financial advisor are recommended before making any trading decisions. Understanding Elliott Wave Principles Elliott Wave Theory is a robust tool used by traders to analyze market cycles and forecast future price movements by identifying repetitive wave patterns. One of the core principles of Elliott Wave Theory is that markets move in five waves in the direction of the main trend (Impulse Waves) followed by three corrective waves (Corrective Waves). These waves are labeled numerically as 1, 2, 3, 4, 5 for impulse waves and alphabetically as A, B, C for corrective waves. A few key rules and guidelines include: Wave 2 cannot retrace more than 100% of Wave 1. Wave 3 is usually the longest and never the shortest among waves 1, 3, and 5. Wave 4 should not enter the price territory of Wave 1 (in a standard impulse wave). Additionally, corrective waves come in various forms like Zigzags, Flats, and Triangles, and these patterns provide insight into the market’s corrective phases. Current Wave Count and Analysis On the daily time frame of Ultracemco, the price action has been unfolding within an Elliott Wave structure, and as of the latest data, the market appears to be in the process of completing wave ((iv)) in black. The chart shows that the recent price action likely represents a corrective wave ((iv)), unfolding as an (a)-(b)-(c) structure, where wave (a) has been completed, wave (b) has bounced as a corrective upward swing, and wave (c) is currently progressing downward. Key Observations for Wave ((iv)): Depth of Correction: The retracement level of wave ((iv)) typically spans between 38.2% to 50% of wave ((iii)). The current retracement indicates that wave ((iv)) could find support around these levels, aligning with typical Elliott Wave corrective behavior. Equality of Waves (a) & (c): One common characteristic within a Zigzag pattern is that wave (c) often equals wave (a) in terms of length. This potential equality provides a target zone for the completion of wave ((iv)). Retracement of Wave ((iii)): The analysis of wave ((iv)) should also consider the Fibonacci retracement levels of wave ((iii)). A significant support area is found near the 50% retracement level of the prior wave ((iii)), which could act as a pivot point for the next upward move. Potential Outlook for Wave ((v)) Once wave ((iv)) finds its completion, the next expected move is an upward swing as wave ((v)), which should unfold in an impulsive manner. Wave ((v)) often represents the final thrust in the direction of the trend and is typically characterized by strong momentum and breadth. Characteristics of Wave ((v)): Extension: Wave ((v)) may extend, particularly if wave ((iii)) was relatively short. In such cases, wave ((v)) could push the price higher than expected, sometimes exceeding the previous high established by wave ((iii)). Fibonacci Projections: A common target for wave ((v)) can be projected using Fibonacci extension levels of waves ((i)) through ((iii)). The 61.8%, 100%, and 161.8% extension levels serve as potential price targets. Volume and Momentum: Increased volume and momentum usually accompany wave ((v)) as it represents the final push in the direction of the prevailing trend. Traders should watch for any divergences in momentum indicators, as they often signal the end of the impulse wave and the start of a corrective phase. Conclusion In summary, the analysis suggests that Exampled chart of Ultracemco is likely completing wave ((iv)), with potential support zones emerging as the market corrects. Following the completion of wave ((iv)), the price is expected to rise in an impulsive wave ((v)), targeting new highs. However, it's crucial to remember that Elliott Wave analysis involves multiple possibilities, and traders should consider these insights as part of a broader trading strategy rather than standalone advice. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:ULTRACEMCO
by RK_Chaarts
2
$SVM | Allocation | Market Exec & Buy Limit |Technical Confluences: - Elliot wave seems to be in the middle of a Wave 3 count. Completing the Wave 3-1 and Wave 3-2. Next, should be the beginning of Wave 3-3 - Price action is close to an Interest Zone and is also at the 200MA Fundamental Confluences: - SilverCorp Metals focuses on Sustainable Silver. Both words that delight financial investors. Silver being a precious metal and sustainable being the bank's new hype. ESG-story. - Their project involves themselves in the green energy sector and it gives you the exposure of precious metals in the portfolio as well - Both retail and industrial sectors have solid demand for Silver and Gold and SVM has got it both ________________________________ AMEX:SVM will give me some exposure to Precious Metals in my Long-Term portfolio and is in the direction of sustainable green energy. Will green energy be the future? We shall see. In the meantime, 1st allocation into $SVM. ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. DYOR.
AMEX:SVMLong
by weekendanalyst
$BTC | Buy Trade 1D | Buy Limit |Technical Confluences: - Price action is condolidating at the mid of downward parallel channel - Targeting the price action to move towards the area of resistances (Interest Zones, Lower-Bound of Parallel Channel, Horizontal Trendline & 50% Fibo Retracement level) - Elliot Wave 4 completed or will it extend and then, aim for the 100% Fibo Extension line @ 93,359 to complete Wave 5 Fundamental Confluences: - It's Bitcoin; it can go to whatever level it wants. - Many disagree and feel it will replace fiat. IMO, not in the near term and it will be many more moons before it happens. In the meantime, it's my speculative asset, Lol. - As the world embraces more of the blockchain adoption, Bitcoin hype will still remain. ________________________________ CRYPTOCAP:BTC orders set at the Buy Limit zones. Patiently waiting. Remember, DYOR. ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. DYOR.
BINANCE:BTCUSDLong
by weekendanalyst
SCGP - TFW Wave Target Reversal Projection - Bull Trap A potential bull trap scenario with one more wave downtrend. 1. First correction - Extended flat ABC Wave B retraced 78.6% / w.a and w.C: extended 161.8% of w.A 2. Complex triangle ABCDE pattern 3. The current downtrend wave doubled zigzag ABC pattern with wave 4 in c leg targeting 38.2-50 % retracement at ma50w, creating a false breakout signal before final wave 5 downtrend. RSI at the lowest position - no bullish divergence trend reversal signal support
SET:SCGPShort
by dukeposh
$SPY | Watchlist D1 | Buy Limit |Technical Confluences: - Recent Elliott wave count shows that we are now in a Wave 4 retracement - Price action seemed to have topped out at the 50% Fibo Extension for now (Ending Wave 3) - Price action may test the Supply Zone again before retracing downwards towards the Horizontal Trendline and the 38% or 50% Retracement Fibo Fundamental Confluences: - US economic outlook is weak currently and valuations needs to normalize before we make a new high - Businesses are suffering from high interest rate environment and for the FED to cut, growth needs to show definite weakness, which we are starting to see. - A FED cut will not instantly improve business prospects again as interest rate changes takes time to seep into the economy - Investors will also be wary about the upcoming elections as government policies may affect business activities ________________________________ Watching the Demand Zones as levels to begin some of my portfolio allocation into AMEX:SPY Will place my Buy Limit orders for the it. Remember, DYOR. ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. DYOR.
AMEX:SPY
by weekendanalyst
4
Wave Theory in Motion: Understanding Key PatternsElliott Wave Analysis: Example used chart of Eicher Motors (NSE: EICHERMOTORS) This analysis is provided for educational purposes only and does not constitute trading or investment advice. All wave counts are subject to change as the market evolves. Always consult with a qualified financial advisor before making any trading decisions. Overview: In this analysis, we will delve into the current market structure of Eicher Motors through the lens of Elliott Wave Theory. The focus will be on identifying the wave count, potential price targets, and critical invalidation levels. Wave Count: Starting from the low at 4253, we have a clear impulsive structure labeled as wave (i). This wave consists of five smaller sub-waves, denoted by i, ii, iii, iv, v. The subsequent correction, wave (ii), retraced part of this impulsive move, unfolding in a typical corrective pattern, which then led to wave (iii). This wave extended higher, reflecting strong bullish momentum, followed by waves (iv) and (v) completing the impulsive sequence near 4976 where we had labelled as wave 3 completed. From there, an Expanded Flat corrective structure began, identified as a ((a))-((b))-((c)) pattern, which seems to have completed near ₹4,548. This marks the end of wave 4, a corrective wave within a larger impulsive sequence. Currently, the stock appears to be in the early stages of a new impulsive wave, labeled as wave (i) of a higher-degree wave ((i)) of one more higher degree wave 5. Elliott waves Theory based Target Assumptions: Given that wave 3 of the previous impulsive move ended around 4976, we anticipate that wave 5 should extend beyond this level. The first target for wave 5 would be around 5000, If momentum is strong, we could see further extensions. Invalidation Levels: Critical to any Elliott Wave analysis is understanding where the wave count might be invalidated: Nearest Invalidation Level: A break below 4548 would invalidate the assumption that wave (v) of wave C has completed. This would suggest that the corrective wave 4 is still ongoing or that a different corrective structure is forming. Main Invalidation Level: Should the price fall below 4253.85, it would invalidate the entire bullish wave count, implying that a much larger corrective pattern is unfolding, or a change in the trend direction is occurring. Conclusion: Eicher Motors is showing signs of a potential new impulsive move to the upside, However, traders should keep a close eye on the invalidation levels at 4548 and 4253.85. Breaching these levels would require a reevaluation of the current wave structure and could signal a deeper correction. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:EICHERMOTEducation
by RK_Chaarts
Understanding Complex Structures: Elliott Wave Theory in ActionTechnical Analysis on Exampled chart of RBL Bank Ltd. using Elliott Wave Theory Understanding Complex Structures: Elliott Wave Theory in Action This analysis uses Elliott Wave Theory & Structures, which involve multiple possibilities. The analysis presented focuses on one potential scenario. The provided information is for educational purposes only, not trading advice. There is a risk of being completely wrong, and users are warned not to trade or invest solely based on this study. The content is not advisory and does not guarantee profits. We are not responsible for any kind of profits and losses; individuals should consult a financial advisor before making any trading or investment decisions. Elliott Wave Principles Elliott Wave Theory, developed by Ralph Nelson Elliott, is a widely used method of technical analysis. It helps traders analyze financial market cycles and forecast market trends by identifying patterns of investor psychology, reflected in price movements. According to Elliott, market prices unfold in specific patterns, termed as "waves". These waves are categorized into: Impulse Waves: Move in the direction of the overall trend and consist of five sub-waves. Corrective Waves: Move against the trend and consist of three sub-waves. Impulse waves are labeled as 1, 2, 3, 4, and 5, and corrective waves are labeled as A, B, and C. Complex corrections are labeled as W, X, Y, and sometimes Z. Chart Analysis Exampled of RBL Bank Ltd. Here's a breakdown of the wave counts as illustrated in the chart: Impulse Wave 1 - 5 as a bigger degree wave (3) - Starting from the bottom left, the stock initiates an upward movement labeled as waves (i), (ii), (iii), (iv), and (v), culminating in a larger degree Wave (3). This indicates a bullish impulse wave consisting of five sub-waves. Corrective Wave W-X-Y Correction as a bigger degree Wave (4) - The chart shows a complex correction starting from top of Wave (3) with set of double correction as wave W-X-Y Current Market Scenario - Currently, the stock appears to be completing another corrective wave (Y), marked with sub-waves (a), (b), and potentially completing (c). of wave ((y)) of larger degree wave Y to finish one more larger degree wave (4). Can show some Dips to complete wave (4) along with Bullish Divergences. Future Projection Based on the Elliott Wave count, the stock seems to be in the final stages of completing Wave (c) of ((y)) of Y of (4). After this correction, it is anticipated that a new impulsive wave cycle might begin, potentially forming Wave (5) of a larger degree. The projected target for this next upward wave, post-correction, could reach above the previous high near the 300 level or more. By understanding these principles and analyzing the provided chart, traders can gain insights into potential market movements and make more informed trading decisions. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:RBLBANKEducation
by RK_Chaarts
10
Analyzing the USD's Drop: Election Impact and Wave Study The US Dollar continued to trade lower, closing the week at 103.22, indicating ongoing uncertainty with this currency pair. The current market sentiment reflects significant fear and a perception that the Federal Reserve lacks a clear direction. From a technical standpoint, we are operating under the assumption that the movement from the July 2023 lows is forming a triangle pattern. We are identifying potential support in the 102.35-101.90 range as potential end for wave D. Given the upcoming US elections, there is little expectation for positive momentum for the USD as a currency. Therefore, our strategy will be to proceed cautiously and respond to market signals as they emerge.
TVC:DXY
by ewNicola
Navigating the Waves: Elliott Wave Theory and Key IndicatorsEducational Technical Analysis on example chart of UFO Moviez India Elliott Wave Analysis and Key Moving Averages Disclaimer This study is for educational purposes only and does not constitute trading or investment advice. The analysis presented focuses on one potential scenario based on Elliott Wave Theory and other technical indicators. Trading and investing involve substantial risk, and individuals should consult a financial advisor before making any decisions. Introduction to Elliott Wave Theory Elliott Wave Theory is a form of technical analysis that traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective activities. The theory posits that stock prices move in predictable patterns or "waves" based on investor sentiment. Principles of Elliott Wave Theory 1. Wave Patterns: According to Elliott, market prices move in five waves in the direction of the main trend (impulse waves) and three waves in a correction against the main trend (corrective waves). 2. Wave Degrees: Waves are fractal in nature, meaning that smaller waves form part of larger waves, and this pattern repeats on all time frames. 3. Wave Characteristics: - Wave 1: Usually the smallest impulse wave. - Wave 2: Corrects Wave 1 but does not exceed its starting point. - Wave 3: Typically the strongest and longest wave. - Wave 4: Corrective wave that is usually less severe. - Wave 5: Final leg in the direction of the main trend. Current Analysis of example chart of UFO Moviez India Based on the chart and Elliott Wave Theory, UFO Moviez India is currently suggesting an impulsive and momentum-driven 3rd of the 3rd wave ahead, with an invalidation level at 106. Key Observations: 1. Wave Count: - Wave (1): An initial 5-wave impulse has completed. - Wave (2): A corrective ABC pattern. - Wave (3): Currently unfolding with sub-waves i, ii, iii, iv, and v marked. - Wave 3: In the larger context is forming. 2. Breakout: - There is a breakout above the downward trendline with good volumes, indicating strong bullish momentum. 3. Key Moving Averages: - Price Trading Above: - 50 EMA, 100 EMA, and 200 EMA - 50 WEMA, 100 WEMA, and 200 WEMA - Crossed above 20 MMA Technical Indicators and Levels - Price: 148.54 INR (as of the latest close) - Support Levels: - Nearest Invalidation Level: 106 INR - Major Support: 57.20 INR - Resistance Levels: - Immediate Target: 175.58 INR (Wave 1 of larger degree) - Fibonacci Extension Target: 220.51 INR (1.618 extension of Wave 1) Conclusion The Elliott Wave analysis of example chart of UFO Moviez India indicates a potentially strong bullish trend as the stock is in the 3rd wave of a larger impulse. The breakout above the trendline with significant volume further supports this bullish outlook. However, it is crucial to monitor the invalidation level at 106 INR, as a break below this level could invalidate the current wave count and suggest a different scenario. Educational Purpose Notice This analysis is provided for educational purposes only. It is not an investment or trading advice or tip. Trading and investing in financial markets involve risk, and it is important to do thorough research and consult with a financial advisor before making any investment decisions. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:UFOEducation
by RK_Chaarts
2
Predicting Bitcoin's Cycle Using the Elliott Wave Theory, Part 2Hello traders. In this article, we dive deeper into another detailed way of seeing Bitcoin's potential end-of-cycle pattern. This is the 2nd part to the previous post that discusses Bitcoin's cycle using the Elliott Wave Theory - a comprehensive and subjective theory. Here, we will be exploring an alternative scenario that builds on our previous concept of Bitcoin fractals since its inception in 2009. By addressing some of the subjectivity in the wave theory and leveraging market psychology and algorithmic fractals, this post is aimed to provide another organized and insightful look at the structure of Bitcoin's price movements.
If you are interested in seeing the first scenario, here is a link for your convenience: For this alternative scenario, as mentioned above, it addresses some of the subjectivity that arises from the Elliott Wave Theory, specifically the observation of multiple 1-2 scenarios presented in our previous idea. Although the idea was supported by evidence from market psychology and algorithmic fractals, the problem arises by having the possibility of infinite 1-2 nested structures that works upon extending each internal wave - which is a pretty rare observation in any markets; however, Bitcoin has been able to withstand year by year and work on a pretty timely schedule. Based on the expectations, we used that observation to create the scenario of nested 1-2's. Nevertheless, due to its possible subjective count, this idea focuses more on the structural integrity of the basic 5-wave pattern and being able to fit the whole price action from inception as a 5-wave pattern.
 Simply put, this thesis aims to create a more organized structure. As many are still eager to determine how far Bitcoin might correct after this bull run ends, I hope this idea can also give you confidence to help build your own thesis.
 There is one thing that is for sure, however: the evidence portrayed from both of these scenarios strongly suggests that we will see higher levels before lower levels, though no theory can be 100% accurate, we could technically see a reversal even now. But my duty is to make sure to narrow down the scenarios as best as I can.
 For this specific idea, we have structured this whole move up as 5 waves since inception, sticking as closely as possible to the basic Elliott Wave model of the 5-wave impulse. To achieve this, we made some simple adjustments from the first thesis in the previous post.

The challenge for many arises when trying to fit a wave 3 that must be the longest or second longest wave compared to waves 1 and 5. In this chart, since primary wave 1 in yellow is the longest, wave 5 must be technically shorter than wave 3, which is a strict rule and must be obeyed.
 To accomplish this, we can use the 2017-2020 price action as a range initself for wave 4. Previously, we considered the pandemic crash as a technical bottom. If we use that as a sideways range, the only viable sideways patterns are triangles and flats (as we have exhausted the zigzag family correction patterns for wave 4 already). For more details on these patterns, please refer to the previous guide on triangle and flat patterns in my Elliott Wave Theory guide on my main page. By using the 2017-2020 range as a triangle, our subwave E has resulted in an extremely short subwave, known as a failure or truncation. After breaking out of the triangle, the next step is to figure out on how to form wave 5, which is the final part of the 5-wave motive impulse.
 Currently, the only way we can see wave 5 concluding is through a possible diagonal given the current data. Why? We would typically expect a basic 5-wave move for wave 5, but since wave 5 has to be short and wave 1 was extended, we do not expect the last primary wave 5 in yellow to be extended. Thus, the only remaining option is a possible diagonal pattern to complete wave 5, since we have also assumed it will be short due to wave 1 already being the longest wave and wave 3 being the 2nd longest wave.

This Ending Diagonal, which consists of 5 waves (unlike a Leading Diagonal, which appears in waves 1 or A), they are only observed in wave 5s or wave Cs.
 To construct our Ending Diagonal, the five subwaves must be zigzags (simple ABCs) or complex zigzags (WXYs). We are currently observing a mix of these, which is normal in diagonals: 
 * Subwave (1): ABC. Observed as a long wave A and short wave C. This can be debated, but longer wave As compared to wave Cs are not uncommon. * Subwave (2): WXY. A WXYXZ could fit as well like we observed in our previous post, but that deviates significantly from the traditional structure. A WXY is the next best alternative, and even that can be subjective as we typically observe simple ZigZags (ABCs) within diagonals. * Subwave (3): Currently being created. With the available data, it could be an ABC, though it may become more complex going forward. * Subwave (4) / (5) : To be determined. Must belong to the zigzag family.

 As we are still working on subwave (3) within the ending diagonal, the interest level for a pullback remains the same as in our previous idea, THAT IS THE KEY. This significant pullback could validate this idea, so we will monitor it up to that point.
 This larger picture presents a wide range between subwaves 4 and 5, similar to waves 1 and 2.
 Once subwaves 4 and 5 are created, it will technically terminate the larger degree wave 5 of the entire 5-wave impulse cycle. After termination, a significant downside correction is possible, potentially reaching levels as low as $3,000. Alternatively, we also have a completely different count where this cycle wave 1-2 may be already in play, and it can be achieved by using a larger flat idea that may also help with separation and further deepend subjectivity. Here is that approach: In conclusion, while the evidence strongly suggests that Bitcoin will reach higher levels before any significant correction, it is crucial to remain adaptable as market conditions evolve. The analysis presented here offers merely a potential roadmap. No theory can predict market movements with absolute certainty. By staying informed and considering multiple scenarios, investors can better navigate the complexities of the cryptocurrency market. I invite EVERYONE to share your thoughts and engage with this post in the comments below.
INDEX:BTCUSDEducation
by XForceGlobal
109
Bitcoin Elliott wave analysis - wave 5 has begunSimple impulse wave count showing current price action forming the base of Intermediate wave 5 (the largest degree shown). If so, it would appear to be in the 5th wave of Minor wave 1, possibly completing around the 72.6-72.9K USD area. This implies a pull back to around 50-61.8% of the length of Minor wave 1 to complete Minor wave 2. As always, prior pivots will be levels of interest in that range. Upper targets are around the 125K level to complete Intermediate wave 5, which would be somewhere between a 100-115% advance. Some non-Elliott wave channel analysis suggests Intermediate (4) is not yet complete. However RSI and other indicators suggest wave 5 has begun. Minor wave count is officially wrong below 53,458.05 USD, which would indicate Intermediate wave 4 is still in progress - of course, that in turn applies to a decline below the end of Intermediate wave 1, which would invalidate the entire move as an impulse as counted.
INDEX:BTCUSDLong
by JCore7
Mastering Elliott Waves: Key Rules You Can't IgnoreEducational Idea : Understanding Key Principles of Elliott Wave Theory Introduction Elliott Wave Theory is a powerful tool used by traders to analyze market cycles and forecast future price movements. Understanding its core principles can help you make more informed trading decisions. In this article, we will delve into three fundamental principles of Elliott Wave Theory that cannot be violated. Remember, this video is purely for educational purposes and not intended as trading advice or tips. 1. Wave 2 Can Never Retrace More Than 100% of Wave 1 The first principle of Elliott Wave Theory is that Wave 2 can never retrace more than 100% of Wave 1. In other words, Wave 2 cannot go below the starting point of Wave 1. If it does, it invalidates the wave count and suggests that the initial impulse wave (Wave 1) was incorrectly identified. This rule ensures that Wave 2 is a correction wave within the larger trend and not a reversal of the trend itself. Example Illustration: - If Wave 1 starts at 100 and peaks at 150, Wave 2 can retrace to any level above 100, but not below it. 2. Wave 3 Can Never Be the Shortest Among All Three Impulse Waves (1-3-5) The second principle states that Wave 3 can never be the shortest among the three impulse waves (Waves 1, 3, and 5). Typically, Wave 3 is the longest and most powerful wave, characterized by strong momentum and volume. If you find that Wave 3 is shorter than either Wave 1 or Wave 5, the wave count is incorrect, and you need to re-evaluate your analysis. Example Illustration: - If Wave 1 is 50 points and Wave 3 is only 30 points, while Wave 5 is 40 points, this violates the rule as Wave 3 is the shortest. 3. Wave 4 Cannot Enter the Territory of Wave 1 (Except in Diagonals & Triangles) The third principle asserts that Wave 4 cannot enter the price territory of Wave 1. This means that the lowest point of Wave 4 should not overlap the highest point of Wave 1. An exception to this rule occurs in diagonal and triangle patterns, where some overlap is permissible. This rule helps maintain the integrity of the impulse wave structure. Example Illustration: - If Wave 1 peaks at $150 and Wave 4 retraces to $145, this overlaps and invalidates the wave count unless the pattern is a diagonal or triangle. Conclusion By following these principles, you can ensure that your Elliott Wave analysis remains robust and accurate, helping you navigate the complexities of the financial markets with greater confidence. Understanding and applying these key principles of Elliott Wave Theory can significantly enhance your market analysis and trading strategies. Keep these rules in mind as you study and apply Elliott Wave Theory in your trading journey. Remember, this video is purely for educational purposes and not any kind of trading advisory or tips. This content is for educational purposes only and should not be considered as financial advice. Always do your own research before making any trading decisions. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Feel free to share your thoughts or questions in the comments below. Happy trading! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:IRFCEducation
by RK_Chaarts
13
Charting the Future: An Elliott Wave ApproachTechnical Analysis of Rajesh Exports Using Elliott Wave Theory Monthly Time Frame Analysis Elliott Wave Count and Structure: - The monthly chart of Rajesh Exports shows a clear Elliott Wave pattern, suggesting the completion of a corrective wave (C) of a larger degree wave ((2)) in Black, implying that a new bullish impulse is likely to begin wave ((3)) in Black. - The recent price action indicates the end of Wave (C), part of a larger correction that followed a significant impulse wave (5) earlier of wave ((1)) in Black. - This suggests that the stock is about to start a new bullish cycle, labeled as Wave (1) in Blue of a new impulse higher Primary degree wave ((3)) in Black. Bullish Divergence: MACD: The price shows hidden bullish divergence with the MACD, as the MACD line forms higher lows while the price makes lower lows on Monthly time frame. RSI: Similar hidden bullish divergence is observed with the RSI too on monthly time frame, reinforcing the bullish outlook. Daily Time Frame Analysis Bullish Divergence: MACD: The price shows bullish divergence with the MACD, with the MACD line forming higher lows while the price forms lower lows. RSI: The RSI also shows bullish divergence, adding further weight to the bullish scenario. Trigger Point: Trendline Breakout: The daily chart indicates a trendline breakout accompanied by a significant increase in volume. This breakout suggests a strong bullish sentiment and confirms the start of a new upward trend. Invalidation Level: The invalidation level for this bullish scenario is set at 261. If the price falls below this level, the bullish wave count would be invalidated. Targets: According to Elliott Wave Theory, the third wave (3) is typically the most powerful. Using the Fibonacci extension, the 161.8% target of Wave (1) places the possible price target near or above 1800. Summary Elliott Wave Count: Indicates a potential start of a new bullish impulse wave. Bullish Divergence: Both MACD and RSI on the daily and monthly charts show bullish divergence. Trendline Breakout: Confirmed with high volume, suggesting strong upward momentum. Invalidation Level: 261 Target: 161.8% Fibonacci extension of Wave (1) projects a target near or above 1800. The overall analysis suggests that Rajesh Exports is poised for a significant upward movement, with strong bullish indications from both the Elliott Wave counts and technical indicators. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:RAJESHEXPOEducation
by RK_Chaarts
4