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Elliottwaveprojection

HMPRO | Wave Projection | Complex Inv. Head & Shoulders BreakoutPrice action and chart pattern trading setup > A possible bullish uptrend ABC scenario with complex inverse head & shoulders pattern with SMMA50D as its neckline BREAKOUT! > The candlestick pattern is consolidating just above the breakout area which possibly retest its neckline next week before price push higher. > Entry @ B1: PULLBACK retesting neckline within area of candlestick consolidation B2 @ breakout as follow buy. > Target: Inverse head & shoulders T1 is fibo 1.0 extension and T2 just below 1.618 ext. zone + 12 - 18% > Stoploss: right shoulder zone - 7 - 8% > Risk reward ratio: 1.5 - 2: 1 > Indicator: RSI > 60 bullish channel and breakout MA > The key fundamental analysis found that this coming high season after Thailand major flooding could trigger a boost in revenue and profit in upcoming Q4 company performance. Always trade with affordable risk and respect your stoploss.
SET:HMPROLong
by dukeposh
ITEL | Wave Projection | Downtrend Channel Breakout - A-Wave?Price action and chart pattern trading setup: > A possible downtrend A-wave reversal zone at the 5-wave uptrend Head & Shoulders target > Now breakout downtrend 5-wave channel and developing an Inverse Head & Shoulders reversal pattern below SMMA200D zone. > If breakout successfully, A possible scenario for long entry, we could wait for price to retest its neckline. > Target zone 1 - 2 - 3 as follows: Inverse H&S SMMA200 zone, bullish channel target, and B-wave targeting 0.5 - 0.618 retracement zone. > Stoploss at inverse head & shoulders' head - 7 - 8% > Risk reward ratio: 2:1 / 2.5:1 / 3:1 respectively Always trade with affordable risk and respect your stoploss, nothing is 100%.
SET:ITELLong
by dukeposh
GOOGL | Wave Projection | A-wave Correction Bullish DivergencePrice action and chart pattern trading setup: > A possible A-wave correction zone at 0.618 fib retracement from previous 5-wave uptrend as well as the head & shoulders target with a bullish divergence RSI indicator in weekly timeframe which is showing a strong reversal signal. > In daily timeframe, the price breakout SMA20 with a small double bottom pattern and MACD golden cross signal line just below zero and now consolidating at upper key level resistance. > If breakout, the upside is opened to a possible B-wave ABC uptrend with a target 0.5 - 0.618 retracement between +20 - 25% with its double bottom downside -7%, estimated risk reward ratio at 2.5:1 Good Luck Always trade with affordable risk and respect your stoploss, nothing is 100%.
NASDAQ:GOOGLLong
by dukeposh
USDJPY - CURRENT SENTIMENT , FUNDAMENTAL BIAS#USDJPY - USDJPY is currently BUYing. The reason for that is that with US ECONOMIC DATA being POSITIVE, UJ was BUY very well until last week. And FED UPDATES were very POSITIVE. Another major reason was that the dollar continued to strengthen after last Friday's LABOR DATA. So JPY went down automatically in previous days. But with the intervention of the BANK OF JAPAN, there is now a very good demand for YEN in the market. - At present, the MARKET is becoming somewhat RISK ON, that's why the JPY is going up. According to the USDJPY ANALYSIS we provided earlier, the USDJPY UPSIDE WAVE is currently UP around 145 ++ PIPS. - There is definitely a very high possibility that USDJPY will go down a bit more and move to 148.45 LEVEL. The reason for that is because the MARKETS RISK is already on, so it can happen. After that USDJPY price can go up to 152.67 LEVEL. We focus on MARKET UPDATES and MARKET SENTIMENT. Follow the given MARKET STRUCTURE.
by benny_marshall
1
AUDUSD - CURRENT SITUATION AND FUNDA & TECHNICAL BIAS#AUDUSD - Currently the MARKET SENTIMENT for AUD is slightly UP SIDE according to the MARKET SENTIMENT. Due to RISK ON for AUDUSD, there is currently an UPSIDE BIAS for it. The main reason for that is because MARKET RISK is ON, STOCKS and COMMODITIES MARKETS are now slightly UP. It is heavily influenced by the Australian dollar. - It is definitely possible to break the AUDUSD STRUCTURE and go up to the higher RESISTANCE LEVEL. Accordingly, AUDUSD can go down to 0.6000 LEVEL. And before that, AUDUSD can be BUY to the 0.6429 LEVEL if the MARKET SENTIMENT changes and STOCKS and COMMODITIES start going UP. For that, the MARKET STRUCTURE should be BREAKED..
by benny_marshall
1
Tesla still has a long way to goYesterday, Tesla extended a new low slightly below the previous one. Tesla is now at $205.37, clearing the way for the Alternative Count. Thus, we can assume that we saw the overriding in November 2021 and have been in a correction since then. Typical for the wave is a correction at least below the 0.618 retracement. Also common for the type of correction, according to the Elliott waves, is the 1.618 extension of waves and , which is just above the 0.786 retracement at $98.55. www.elliottwave.com What this means for us is that Tesla stock is likely to fall almost 54% more. The next hurdle is at the $158.58 (-26%) where the 0.618 retracement is tested. Tesla has lost almost 30% in the last 30 days, such an impulsive sell-off suggests that the correction is not over yet. However, if the price now turns around and sustainably rises above $315.13, the alternative scenario comes into effect and we still see values around $400. After all, still with 40% likely. Translated with www.DeepL.com (free version)
NASDAQ:TSLAShort
by DavidJankowski
ALPINEUSDT | Wave Projection | Possible Breakout ScenarioPrice action and chart pattern trading > Now the price reaches the downtrend at 0.786 retracement and T1 Head and shoulders target with a hammer candlestick, followed by a doji. > The candlestick pattern is consolidating within the downtrend ABC correction and starting to squeeze under the upper resistance. > A possible breakout scenario for long entry, we could wait for price to retest its low. > Target SMMA50 and SMMA200 > Stoploss @ the candlestick hammer wick or the price could come down to 2.0 area > RRR: 2:1 If breakout successfully, the value area of $2.8-3.0 will become the support for the price in the near future. Always trade with affordable risk and respect your stoploss, nothing is 100%.
Long
by dukeposh
Bitcoin bottom is going to be predicted by the top of the DXY!Im my last chart on BTC with the correlation with the DXY. You can clearly see when BTC dumps the DXY pumps. Even on the weekend when the DXY is not trading BTC does boring sideways action waiting for the DXY to open again. In my opinion we still have further upside with the DXY. We are currently trying to break through an ascending channel to the upside! We can clearly count from the yellow wave 4 another 5 wave move however we are missing the internal wave 5. Which in my opinion will get close to 120 level. Who knows maybe we get bad news tomorrow with the CPI data or with another big rate hike coming later. Let, 's see if we get above the channel and hold the trend line for support. This would be the confirmation we are probably going to 120.
TVC:DXYShort
by Luckyjimbob111
How to define the end of a correction based on time - EWHi EW Fans, made you a CheatSheet how to define the end of a correction based on time. If you are sure about the start of a wave/impulse you can very easy define a possible time "vector" for the end of the correction. Start of the impulse = Zero Top of the impulse = 0.382 End of the correction at the common Fib numbers: 0.681/0.65; 0.89; 1; 1.272; 1.618 and so on. If you combine it with a Fibonacci Retracement Tool (LogScale) you are able to define a price and time "vector" for a possible reversal or for the next impulse/wave. Greetings
BITSTAMP:BTCUSDEducation
by UnknownUnicorn39812589
2
SPY Wave Count - Completing Wave 2?Still considering that this leg down is merely Wave 2. Channel and Fib work shows that we might drop down as low as 3,400 but the wave count conviction remains. My key motivator for this count is the long term action of price against the 40 month moving average. I have long believed that a major washout in the markets would occur. Way too much debt and the game has gone on far too long. It will come to an end. In looking at the very long term, perhaps with the Great Depression being the first long term Wave 2 in the Super Cycle, it appears that we might be in the final Wave 5 of the great cycle. So it plays well into my scenario. How will it end? Your guess is as good as mine. But if you figure that we have been in a bull market since the beginning of the 1900s to present, A major Super Cycle correction will unveil dramatic changes, especially in the paper money markets. It's clear that many countries are signing up for a commodity-based money system while another segment is pushing for blockchain. What seems very clear is the correlation between to availability of energy over the decades, the growth of the population and the quality of life. With a segment of the world pushing for the elimination of fossil fuels, seems clear to me that a large segment of the world's population will disappear due to starvation, lack of medicines and poor sanitation, etc. In addition to the other societal trends that have resulted in the reduction of population growth, how much longer will the Capitalist system endure? Fortunately for me, being in my late 60s, I foresee this next wave three lasting possibly for my remaining years. Don't think I will be around to see the demise of the system. Current strategy, building up portfolios in various tax-bucket accounts for efficient tax-planning in retirement. Physical gold and silver a mainstay over the years, diversified portfolios with buy-writes in major corporations with decent dividends. Iron Condor volatility spreads on the indicies. Also have been adding TLT but with short options against. Don't know how this will play out but while capital has been declining on this one, dividends and option writes have been providing a good revenue source. Comments welcome. Anyone else looking at Wave Theory here?
AMEX:SPYLong
by Glewis54
3
This Bear Market Is Almost Over But... This chart contains the overall planned levels for the bottom. The details are below. Primary wave 5 levels are annotated on the left of the lines and Intermediate wave 5 levels on the right. The blue lines are based on the most specific wave position data and the yellows are slightly less specific. The other lines are common Fibonacci and algorithmic trading levels. The significance of 198 trading days was highlighted in my prior analyses which can be found in my TradingView profile. It looks like we are in the final leg of this Bear Market. I currently have us in Sub-Millennial wave 1, Grand Supercycle wave 5, Supercycle wave 2, Cycle wave A, Primary wave 5, Intermediate wave 5 and Minor wave 1 or wave 2. Through Intermediate wave 5, I name this wave 152A55, and refer to it as a wave ending in 2A55, A55, or 55. Intermediate wave 5 and Minor wave 1 likely began within the last hour of trading on October 5th. Minute waves 1 and 2 likely concluded on October 6 while wave 3 finished with the low in the first hour of trading on Friday. Minute 4 was the top shortly after that. The current debate is where did or will Minute wave 5 and Minor wave 1 end? The majority of Friday was Minute 5 and if it concluded it is displayed here. There is a chance we are still in the late stages of Minute wave 5 and Minor wave 1. I don’t exactly like this because Minute wave 5 is quite long, however, it is not constrained by length requirements this time. My wave 3 indicator has fired at two locations in the chart below. The first tends to identify waves 3 of 3 and the final may find the end of a wave 3. The theory of us remaining in Minor wave 1 should prodcue a new low beneath 3620 on Monday and a large up day on Tuesday. The theory we are in Minor wave 2 would have us up pretty much all day on Monday and Tuesday. No matter what, this analysis is meant to layout the final movements of Cycle wave A, Primary wave 5 and Intermediate wave 5. BEAR MARKET BOTTOM (CYCLE WAVE A) BASED ON PRIMARY WAVE 5 PROJECTIONS As of Friday’s close, Primary wave 5 is 37 days long. Primary wave 1 was 35, 2 was 23, 3 was 56, and 4 was 40. Studying waves ending in 2A5, there is not much model agreement on Primary wave 5’s length. The most now is 8 models on 40 days, 4 models on 56 days, and 3 models on 37 days. With the inflation report, earnings and the Fed ahead, 37 and 40 days does not sound likely. The move extension percentages by quartile based on waves ending in 2A5 is 112.36% for the first quartile, 1.3509% for the median and 2.0451% for the third quartile. These are plotted on the main chart at the top with blue lines and the values are on the left. Waves ending in A5 have quartile move extensions of 112.36% again, 122.26%, and 163.93%. These levels are plotted on the chart above with annotations on the left and yellow lines. My models have more agreement on length. Most agreement has 12 models pointing to a length of 40 days, 10 models at 37 days, 8 models at 56 and 60 days, with 7 models at 46 days. Day 46 would be October 20th and this could be close to the bottom. BEAR MARKET BOTTOM (CYCLE WAVE A) BASED ON INTERMEDIATE WAVE 5 PROJECTIONS Now that we have got through Intermediate waves 1-3 and most likely 4, my models use this data to further project were Intermediate wave 5 should end. I can then take this day as well as the Primary wave 5 data in attempts to refine the potential bottom. Intermediate wave 1 lasted 14 days, 2 was 4 days, 3 was also 14, and wave 4 was 2 days as of now. Our initial wag (wild a** guess) was for Intermediate 5 to last around 15 days. Since wave 1 generally makes up 20% of the larger wave it is in we figured wave 1 would be 3 days, 2 would be 2, 3 would be 4, 4 would be 1-2, and 5 would be around 3. This would roughly place the bottom of 1 on October 10th, top of 2 on October 12th, bottom of 3 (after a significant drop from the inflation report) on October 18th, top of 4 on October 19th or 20th, and the final bottom around October 25th. The models for day length based on waves ending in A55 have the most agreement for a total length of 3, 4, and 8 days. The second most agreement is 9 days, and then a third place tie for 10, 17, 18, 21, and 32 days long. Less than 8 days in my opinion is too quick, however, time will tell. The quartile move extension for waves ending in A55 are 106.1%, 133.14% and 167.15%. The levels are on the main chart with annotations on the right with blue lines. Lastly is the larger and more broad dataset for waves ending in 55. The most model agreement is between 2-4 days total (55-58 models point here). The next area of agreement has 29 models at 5 days, 28 at 6 days, 27 at 10 days, 21 at 7 and 14 days, 18 at 8 days, 14 at 12 days, 12 at 11 days, and 10 at 20 days. The move extensions are 112.52% for the first quartile, 126.93% for the median and 148.58% for the third quartile. These levels are annotated on the right of the main chart above and with yellow lines. Based on all of this data and projections, there are some points of agreement for the Primary and Intermediate levels on the chart. I originally projected the bottom between 3200-3450 which still appears to remain viable. I am currently estimating the bottom before November 3rd and most likely closer to October 21-25. I don’t see us breaking below 3300 this time (most likely set to occur in 2024). I conservatively like the bottom below 3440 and likely below 3400. I think the major catalyst will be the inflation report on the 13th which currently coincides with the beginning of Minor wave 3 inside of Intermediate wave 5. We will likely go down on Monday, up on Tuesday and top on Wednesday of this coming week. The inflation report will impact the early earnings reporters as well. A “bad” inflation report will likely cause the earnings projections to be lowered. The Fed will likely not come out until their meeting in the first week of November. I don’t think their decision will roil the markets and that will likely be the reason for the major gains we are forecasting over the next 7-10 months. The Fed did not want to impact the 2020 election and were dovish when they needed to be hawkish. If another global event occurs between now and then the Fed may also be dovish as they were when the Ukraine war began. No matter what, we see large gains (Cycle wave B - up) on the horizon and slower Fed policy but this bill will come due late next year and things will be gravely worse for the market (Cycle wave C – down) at the end of 2023 and all of2024.
SP:SPXShort
by StockSignaler
3