Get started

Elliottwaveprojection

SPY CHART TECHNICAL SPY is in low volume state along with short covering and ready to breakout based on CPI and PPI data as well as follow up interest rate hike talk. Due to low volume bullish, still on the up trend line but other technical indicators have started to cool off like MACD, RSI,SCHOLASTIC, AO. In few days May touch 421 or breakdown from this level. Sell starts from 409-407. First Stop at 393 before Sept then May slide to 370 further based future data and rate hike. I doubt that market will go up beyond 220 by this year due to most of the short covering probably done now and fresh sell short start soon that will bring down the market spy 350 end of the year.
AMEX:SPYShort
by TradeByTech
2
It's been a while since I provided an update on the Wyckoff ideaGood morning traders, I have been a little busy recently, so haven't had chance to provide an update on my wyckoff accumulation idea. As you can see on my chart, we are well and truly in to the new bullish trend that follows a wyckoff accumulation pattern and from the looks of things there is a Leading diagonal pattern forming, made up from waves and the sub waves within each wave. As you can see my elliot waves have been measured and my targets for each wave marked up. I believe the 5th purple wave will complete around $31,775 which is a key support/resistance level. These waves I have marked up are minor waves and once the 5 wave cycle has completed, I believe this will be primary wave 1 which will be followed by a correction down to primary wave 2. What this will come down to will be determined once we know where the end of the primary wave 1 is and we can then measure the wave 2, which I will sure to provide an update for. Please like and share my idea along with leaving your comments if you don't agree. Happy trading 👍🏻 GDuB
BITSTAMP:BTCUSDLong
by GDuBFX
1
DOTUSDT | Wave Projection | Triple Bullish Divergence DragonPrice action and chart pattern trading > Anticipating a breakout of dragon ridge or descending triangle breakout downtrend DRAGON ABC wave pattern with current Intermediate C-wave in zigzag formation > Target @ possible making a minor 4-wave uptrend correction retracing 0.0382-0.5 previous 3-wave +50% - +70% > Stoploss @ the lowest position of the -25 - 30% to the bottom forming the 1st claw of the dragon, relatively closed to the target of dragon main head & shoulders. > Entry @ 1st Inverse Claw breakout > RRR: 2.5:1 Indicator: MACD triple bullish divergence & RSI double divergence Always trade with affordable risk and respect your stoploss
Long
by dukeposh
1
BBGI | Wave Projection | Upcoming Inverse Head & ShouldersPrice action and chart pattern trading setup: > Possible upcoming ending diagonal of intermediate 5-wave downtrend with inverse head & shoulders > Entry @ breakout neckline > Target @ approximately the height of the head 9 baht > Stoploss @ upcoming right shoulder minor 5-wave > Risk reward ratio: 2:1 with downside -6% Indicator: > RSI +50 cross MA and MACD bullish divergence Always trade with affordable risk and respect your stoploss
SET:BBGILong
by dukeposh
Bitcoin - Forecast with Elliot WavesHi Traders, Investors and Speculators📈📉 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. The Elliott Wave theory is named after Ralph Nelson Elliott (28 July 1871 – 15 January 1948). He was an American accountant and also an author. Inspired by the Dow Theory, Elliott concluded that the movement of the stock market could be predicted by observing and identifying a repetitive pattern of waves. I find this another useful take on market cycles/phases, R Elliot is considered one of the 5 titans of chart analysis. Let's take a BRIEF look at the Elliot Wave Theory: Simply put, movement in the direction of the bullish up-trend is unfolding in 5 waves while any correction against the trend is in three waves (called corrective wave). From this you can already conclude that there is no specific time frame limit - you can have multiple waves in a larger wave, for example: The movement in the direction of the UP-trend is labelled as 1, 2, 3, 4, and 5. The three-wave bearish correction is labelled as A, B, and C. These patterns can be seen in long term as well as short term charts. Smaller patterns can be identified within bigger patterns. Think of it like this: Elliott Waves are like a piece of broccoli🥦 , where the smaller piece does in fact, look like the big piece. This information on smaller patterns fitting into bigger patterns, offers the trader a level of anticipation and/or prediction when searching for and identifying trading opportunities with solid reward/risk ratio. The world is changing at an exponential rate, and some changes need to be considered as we take a look and plot the waves. We have five major classes of market: Stock market, forex market, commodities market, cryptocurrency markets and bond markets. The Elliott Wave Theory was originally derived from the observation of the stock market (i.e. Dow Theory), but certain markets such as forex exhibit more of a ranging market. In today’s market, 5 waves move still happen in the market, but many analysts recently suggest that a 3 waves move happens more frequently in the market than a 5 waves move . In addition, market can keep moving in a corrective structure in the same direction. In other words, the market can trend in a corrective structure; it keeps moving in the sequence of 3 waves, getting a pullback, then continue the same direction again in a 3 waves corrective move. So not just ABC, but possible ABCABCAB etc. until a bottom is established via candlestick analysis. To conclude, don't be too rigid with rules especially considering the ever changing markets and the fact that the Elliot Wave theory was originally designed for stock markets. However, this does not make it obsolete ! By combining a few of the methods mentioned above, one can get a reasonable idea of which market phase we are trading in and confirm it by taking a look at the charts from multiple perspectives and theories. Currently, I enjoy using Wyckoff Method, Elliot Waves, Fibonacci Retracement + trend based Fibonacci Extension , Candlestick analysis, Chart patterns (occasionally) as well as major supply and demand zones / whale zones. I like to use support zones and resistance zones for lower timeframes / the lower the timeframe analyzed, the higher the risk. __________________________ 👀Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 📉 Hit like & Follow 🔔 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
64
CADJPY Triangle Gives Us Clear Entry for a BuyTriangles are always a treat to find on the charts. This is because the pattern provides an entry signal that is clear and easy to execute. In Elliott Wave Theory, a triangle pattern consists of 5 internal subwaves, ABCDE. When those subwaves are complete, a break of the triangle is expected in the direction of the trend that occurred prior to the triangle. In this case, we are expecting a thrust to the upside, now that wave (e) is potentially complete. Triangles always come before the final move in the larger term wave sequence. In CADJPY, this means we are expecting one more wave to the upside before price corrects to the downside. The triangle pattern gives us everything we need to catch that final bull move. Price must remain above the invalidation level of 103.34 for this interpretation to remain valid. At minimum, we expect a move to the previous highs. We are targeting the 108.00 handle as our initial profit target. There is a good reason for this too... comment below if you want to learn how Elliott Wave Theory can help you find high probability targets as well. At Parallax, we focus on wave analysis and 1-on-1 education to build a foundation of skills that give our clients the edge. We trade Crypto, Forex (FX), and equities. We keep our analysis simple, clear, and easy to execute. Comment below if you would like to see more trade ideas, Elliott wave analysis, and market updates
Long
by ImreSG
6