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Elliottwaveretracement

$BABA COORECTED ELLIOT WAVE ANALYSIS In my Elliott Wave analysis of BABA, I've observed a corrective pattern since its inception, with the peak occurring during the 2020 bull market. The correction seemed to have ended when BABA hit bottom in 2022. Following this, it appeared to start a new upward wave (wave 1), followed by a corrective phase (wave 2), which now seems to be complete. It's important to note that the placement of the other waves is solely for identification purposes and does not indicate any specific targets. This suggests that BABA could be gearing up for a bullish wave 3, making it quite promising for the long term.
NYSE:BABALong
by thekidtrader11
3
$BABA COMPLETE ELLIOT WAVE ANALYSIS Based on my Elliot Wave analysis of NYSE:BABA , it appears that the stock has been following a corrective pattern since its inception, with the peak occurring during the 2020 bull run. Since then, it has been in wave B, currently progressing into subwave C of wave B. The trend is strongly bearish, indicating a downtrend. I anticipate wave B to conclude around $18.90, although this is an estimation derived from Fibonacci ratios and could potentially fluctuate between $58.01 and $18.90. However, considering the length of sub wave A, the likelihood leans towards the $18.90 mark.
NYSE:BABAShort
by thekidtrader11
5
CHAINLINK ELLIOT WAVE ANALYSIS Navigating this chart poses quite a challenge given the intricacies of the candlestick formations. Despite this complexity, I've endeavored to apply my understanding of Elliott Wave Theory to analyze and potentially forecast future movements. However, I acknowledge the possibility of error, whether it's due to miscounting waves or other factors. I welcome alternative perspectives and suggestions. Upon studying the chart, it appears that CHAINLINK has been undergoing a corrective ABC wave pattern since its inception, reaching a peak in 2021 before embarking on a corrective phase. The analysis becomes particularly nuanced due to nearly a year of consolidation, forming a triangle pattern likely indicative of the final wave C within its correction. If my interpretation is accurate, CHAINLINK has recently completed wave 1 and is poised for a correction with wave 2. This correction may target the 0.764 extension level or potentially fall below it. At present, the short-term trend appears bearish while the long-term outlook leans bullish.
Long
by thekidtrader11
2
BTC ELLIOT WAVE ANALYSISIn my evaluation of BTC using Elliott Wave analysis, I've observed that following its peak in 2021, BTC underwent a significant correction on a larger timeframe. This correction could manifest as either a flat corrective pattern or an extended wave B. Presently, we find ourselves within sub wave C of the overarching wave B, specifically in wave 4 of sub wave C. While I remain uncertain whether wave 4 has concluded, I anticipate its completion by the next week. If the market exhibits an upward movement during this period, it will signify the conclusion of wave 4, paving the way for the initiation of wave 5 targeting the ATH (All-Time High). I welcome and am open to any opinions or suggestions for refining this analysis.
BITSTAMP:BTCUSDLong
by thekidtrader11
$TSLA COMPLETE ELLIOT WAVE ANALYSIS According to the Elliott Wave theory, NASDAQ:TSLA has been following a corrective wave pattern (ABC) since its inception, reaching its peak during the 2021 bull run. Currently, NASDAQ:TSLA has completed both wave 1 and wave 2, entering the critical and highly impulsive wave 3 towards the downside of the Elliott Wave sequence. The fundamental outlook for NASDAQ:TSLA appears weakened due to intense competition in the market. In the long term, NASDAQ:TSLA is displaying a heavy bearish trend. While specific targets for the remaining waves are uncertain at this time, one thing is clear – NASDAQ:TSLA is not expected to surpass wave 2, which is positioned at $299.
NASDAQ:TSLAShort
by thekidtrader11
NASDAQ COMPLETE ELLIOT WAVE ANALYSISI have identified all the wave counts visible on the weekly chart, and while they make sense to me, I acknowledge the possibility of errors, given my relatively new exposure to Elliott Wave analysis. It's evident that we are currently within wave B in the overarching wave count. Anticipating an extended wave B due to various sub waves I have listed; my expectation is for wave B to reach the designated green pivot area before completing wave C well below the 2022 low.
CME_MINI:NQ1!Long
by thekidtrader11
DIXON TECH Wave AnalysisIntroduction : Dixon Technologies, a notable player in the stock market, has recently exhibited signs of a bearish trend, breaching its bullish trendline and closing below it. A comprehensive analysis, based on wave counts, suggests the completion of internal degree 5 waves, raising concerns about the potential impact of Q3 results. While the stock is generally considered a promising investment, current circumstances warrant a cautious approach. Technical Analysis: Breach of Bullish Trendline: Dixon Technologies has recently breached its bullish trendline, indicating a shift in market sentiment. Technical traders often interpret such breaches as potential signals of a change in trend direction. Wave Count Analysis: The wave count analysis reveals the completion of internal degree 5 waves. This information is crucial in understanding the stock's current position within the market cycle and anticipating future movements. Intermediate Degree Waves (1) and (2): Intermediate degree wave (1) concluded at 6236.50 in October 2021. Intermediate degree wave (2) completed at 2551.4 in January 2023. Current Status - Intermediate Degree Wave (3): The stock is currently in the midst of intermediate degree wave (3). Wave 1 of intermediate degree wave (3) has been accomplished. Q3 Concerns: The anticipation of potential bad news in the Q3 results adds a layer of uncertainty to Dixon Technologies' current standing. This concern, coupled with the completion of internal degree 5 waves, may contribute to increased market volatility in the short term. Investment Implications: While Dixon Technologies is generally considered a solid investment, the current technical indicators and potential negative Q3 developments suggest a need for caution. Investors should closely monitor the situation and consider adjusting their positions based on the evolving market conditions. Disclaimer: This research is based on technical analysis and prices available on @tradingview. It is important to note that I am not a SEBI registered analyst. The content provided should not be construed as financial advice, and individuals are encouraged to conduct their own research or consult with a qualified financial advisor before making any investment decisions. The author does not take any responsibility for the accuracy or completeness of the information provided, and trading decisions based on this research are at the sole discretion of the individual investor.
NSE:DIXONShort
by imkhushal
$AFRM COMPLETE ELLIOT WAVE ANALYSIS Observing the price action of NASDAQ:AFRM , it is evident that it has been navigating through a corrective wave since its inception. Recently, it has culminated the larger corrective Wave B, under which it has also completed the primary Wave C. The completion of Wave C was marked by the termination of Wave 5. This progression implies that NASDAQ:AFRM is now embarking on the larger Wave C, which is anticipated to descend below the trough of Wave A. Based on my analysis, I project the termination of Wave C near the $4 mark. However, it's important to note that the exact timing and price level remain uncertain while the bearish POI stands firm
NASDAQ:AFRMShort
by thekidtrader11
2
$COIN COMPLETE ELLIOT WAVE ANALYSIS Observations indicate that NASDAQ:COIN is currently within the fifth wave of a broader wave C. Notably, yesterday saw a reversal from the 0.5 retracement level, signaling the completion of wave 4 and readiness for the forthcoming wave 5. It is customary for wave 1 and wave 5 to exhibit equality in length, a consequence of the extended wave 3. Anticipating this pattern, I project that wave 5 will reach the 3.618 extension, approximately at $315, thereby concluding both wave 5 and wave C in their entirety.
NASDAQ:COINLong
by thekidtrader11
3
Technical Analysis of GBP/USD - Bearish Crab PatternHello traders, I would like to do detailed technical analysis of GBP/USD currency pair and the potential presence of a bearish crab pattern. The bearish crab pattern is a harmonic chart pattern used by traders to identify potential reversal (correction) points in the market. Let's examine the key aspects of this pattern in GBP/USD, including the retracement levels and extension ratios. Bearish Crab Pattern Overview: The bearish crab pattern is a reversal pattern that typically forms after a strong bullish trend. It consists of four key points: XA, AB, BC, and CD. In the context of GBP/USD, the pattern has the following characteristics: 1. AB retraced XA by 0.598: The first part of the crab pattern is the AB leg, which retraced the XA leg by 0.598. This retracement level indicates a moderate pullback after a strong initial move. 2. BC retraced AB by 0.799: The BC leg of the pattern retraced the AB leg by 0.799. This level of retracement is deeper than the typical Fibonacci retracements, suggesting a more substantial correction. 3. CD is an extension of BC by 3.172: The CD leg is an extension of the BC leg by a ratio of 3.172. This means that the final leg of the pattern extends significantly beyond the BC leg. A 3.172 extension is a common feature of the bearish crab pattern and signals that the reversal is likely to be strong. 4. CD terminates at 1.24285: The CD leg terminates at the price level of 1.24285. This is a crucial point for traders, as it is where the pattern suggests a potential reversal in the GBP/USD pair. Technical Analysis and Implications: The presence of a bearish crab pattern in the GBP/USD currency pair with the described characteristics is a bearish signal. I will be considering the following implications: 1. Reversal Signal : The bearish crab pattern is a reversal/correction pattern, suggesting that the bullish trend in GBP/USD may be losing momentum, and a bearish trend could develop. 2. Resistance Level : The termination point of the CD leg at 1.24285 serves as a significant resistance level which emanated from the rejection of price on the 11th and 12th of October. Having seen a bearish engulfing candlestick pattern at this zone, we anticipate reversal around this price. 3. Stop-Loss and Take-Profit Levels : We are setting 1.24550 as our invalidation zone, while our potential profit areas are 1.22990 and 1.22400 respectively. 4. Confirmation : This pattern is further confirmed by our elliott wave count. The reversal point seems to coincide with the end of impulsive wave 3, confirming that the drop may be a wave 4 correction. And if wave 4, our target should not be big (maybe 1.23006) as the trend is bullish. Conclusion: The presence of a bearish crab pattern in the GBP/USD currency pair with the described characteristics suggests a potential reversal (correction) in the bullish trend. We have seen further confirmation using Elliott wave and price action analysis, but remember no trading idea is foolproof hence the need to manage risk properly. Cheers!!! Chart to EW Analysis:
Short
by Samuel124
🥇GOLD - Range resistance is the target Gold updates the high to 1874. Yesterday I pointed out the bullish pattern - the market is in the realization phase and gives us a 150pips rise, but we haven't reached the target yet TA on the high timeframe: 1) Strong bullish trend continues. Against the background of the crisis in the world, the interest in gold is only increasing 2) The medium-term target has not been reached yet. The growth will continue TA on the low timeframe: 1) A small pullback may follow before jumping to 1877.7. 2) After reaching 1877.7, I expect a false breakdown followed by a decline, most likely to the support of the mentioned range - 1857. 3) Short-term target is 1877, then 1857. And what will happen next, we will follow the price reaction to these zones. Key resistance📈: 1877.7 Key support📉: 1866, 1857
OANDA:XAUUSDLong
by Gold-Tech
3
🥇GOLD - Price tends to move higher, but there's news ahead...Gold broke the strong resistance area of 1928.5 earlier, now the price is aiming for the next resistance ahead of the release of important news. TA on the high timeframe: 1) FOMC is not going to raise rates this time. I think the data release could have a big impact on metal pricing 2) In the long term, there is a chance that the price will start its decline, as the gold market is still under pressure from the negative fundamental background. TA on the low timeframe: 1) Price in the 1938 - 1928 range. The upper boundary has not been tested yet. Above 1938 a liquidity area has formed, which the market is interested in 2) Most likely the price can test both 1938 and 1948, but the FOMC and Federal Reserve data will determine further targets for both the dollar and gold. 3) It is difficult to decide the future direction in advance, so I recommend not trading before the news is released Key support📉: 1928 Key resistance📈: 1938
OANDA:XAUUSD
by Gold-Tech
16
GOLD → False breakdown and retest give mid-term targetsOANDA:XAUUSD is forming a signal that gives us insight into further medium-term potential. The market is trading within a descending price channel. Strong TVC:DXY continues to put pressure on the XAU price There is quite a lot of news published in the coming week. It is worth paying your attention to the following: 13.09: Core CPI CPI (MoM) & (YoY) 14.09: Core Retail Sales Initial Jobless Claims PPI On the global timeframe we see a broad sideways flat formation. At the moment there is a potential for a decline towards 1800 in the medium term, and even towards 1700 or 1600 in the long term - standard trading strategies determine the trading potential within the flat. On the daily timeframe we see a false breakdown of the descending channel resistance. After two bearish candles the market forms a shakeout and a retest of the trend resistance, but a new signal is formed - a candlestick pattern with a long candle, which is also a prerequisite for a red market. Local support level is 1915, in the first half of the trading week the market may test this area with a high probability of further breakout and realization of accumulated potential for further decline to the lower boundary of the channel or flat CAPITALCOM:GOLD VELOCITY:GOLD CAPITALCOM:DXY FOREXCOM:XAUUSD COMEX:GC1! Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
16
💱GBPJPY - Price may form a bearish momentum GBPJPY forms potentially different signals on different timeframes. But there are localized preconditions that increase the chances for a fall. TA on the high timeframe: 1) Price failed to form an impulse after breaking through the resistance at 183.76. A consolidation with locally declining highs is forming. We see pressure from the sellers. 2) On H4, a kind of reversal pattern is forming in relation to the local resistance area. TA on the low timeframe: 1) The price has been in an ascending price channel for a long time. After the formation of a double top reversal set-up, the market forms an attempt to change the trend. 2) Price breaks the bullish channel support, a correction is formed and we see a strong consolidation forming over the last 24 hours. 3) If the price breaks the support at 184.74, we may see an impulse towards 183.00. 4) If the price returns to the boundaries of the ascending channel - the growth will continue. Key resistance📈: 185.59 Key support📉: 184.74
Short
by Gold-Tech
4
GOLD → The Bears continue to dominate. Ahead of CRS, RSOANDA:XAUUSD continues to update the lows. The price bounces from the local liquidity area of 1903 and forms a correction, making another attempt to retest the trend resistance The upper boundary of the descending channel does not let the price yet, most likely targets below the most important. Reports released today are: 1) Core Retail Sales (no data, the previous ones were bearish) 2) Retail Sales (expected to strengthen) After retesting the support, it is likely that the price may head up to retest the trend resistance, there is a possibility that the price may break the line and start to form a flat (consolidation) before moving further to one side or the other. A global bearish trend dominates the market. I still expect a retest of 1900 as a priority (a false breakout is possible) Moving averages act as resistance Support levels: 1905, 1903, 1900 Resistance levels: 1908.3, 1912.7 In priority, I expect the price to fall from the channel resistance to 1900 with the subsequent rebound and the formation of a flat on the background of the bear market. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
23
💱EURUSD - Retest of resistance zoneEURUSD is testing flat support. There is both the possibility of forming a false breakout, but in this case the previously broken trend resistance will be confirmed, and an attempted breakout, in which case the price will head down. TA on the high timeframe: 1) There is consolidation forming around 1.09526 and numerous retests. 2) Price is testing a strong support within the framework of correction 3) The price can both rebound and break the support. TA on the low timeframe: 1) Flat 1.1050 - 1.09526 is formed 2) In case of a false break of the flat support, the price may go to the upper boundary. 3) If the flat support is broken, the price will return to the downtrend boundaries, in this case the price will head towards 1.08000. Key support📉: 1.09289, 1.09526 Key resistance📈: 1.09997
by Gold-Tech
3
GOLD → The market is ready to continue its declineOANDA:XAUUSD continues to form a descending price channel. On Thursday a candlestick pattern is formed indicating the imbalance of forces in favor of sellers. This week is published quite a lot of interesting news. It is worth paying attention to: 15.08 1) Core Retail Sales (no data, the previous ones were bearish) 2) Retail Sales (expected to strengthen) 16.08 1) CPI (expected to decline) 2) FOMC Meeting Minutes 17.08 1) Initial Jobless Claims (no data, previous ones were bearish) 2) Fed MI In general, bad indicators for the dollar may strengthen the interest in gold, but again, we should not forget that news is a complex trading instrument. From a technical analysis perspective, gold is approaching the strong 1902-1900 liquidity area. Last week's session is closing very close to local lows, which can be interpreted as the market's willingness to continue to gain momentum for further declines. A strong bearish trend dominates the market. Local support: 1912.5, if this line is broken, an impulse to 1900 is possible, but a rebound should be expected from the mentioned support, most likely a rebound may follow during the news. Support levels: 1912, 1902, 1900 Resistance levels: 1915, 1920, 1935 Gold continues to decline, and most likely, from the opening of the new week the price may continue to fall, but in the second half there may be a rebound and local contrend strengthening. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
NZDUSD → A bearish wedge could lead to a rebound FX:NZDUSD is declining in the format of a bearish wedge. Within the pattern, the price may test the key support, but what to expect from the price further? The support level of 0.59939 is the lower boundary of the global flat. There are no signals to break the support now, a retest of the level is formed after 2 months, the liquidity area will not allow to break this level. After the breakout of the support of the wedge will be followed by a retest of the indicated support level 0.59939, but I do not expect a breakout of this support. With high probability a rebound from the support may follow and the price may form a bullish momentum to the 0.61330 area. The moving averages formed a bearish signal earlier, which has already worked out, at the moment the lines indicate a bearish trend. Support levels: 0.59939 Resistance levels: 0.60692 I expect a retest of the support followed by a bounce up to 0.60692 or 0.61330. Regards R. Linda!
Long
by RLinda
8
BTCUSD → A logical correction will test a strong support area BITSTAMP:BTCUSD continues to form a global ascending price channel. The actual counter-trend correction at the moment does not indicate any change of trend, an adequate reaction to the strong resistance area formed back in 2021 is being formed. The price on the daily chart is forming a local support line 28850, a pre-breakdown consolidation and false breakdown is formed, there is no reaction in the form of a rebound, and the price continues to form a squeeze to the support. In the near future 28850 may be broken and the price will test 28450, a false breakdown is possible. Also within this correction the price may test the support of the ascending triangle and 200-day moving average. The price may technically decline in order to purchase the asset at more favorable prices. The cryptocurrency market emphasizes more on fundamentals than on technical analysis, it plays a secondary role in this partnership. Crypto players are waiting for some news to activate the movement in one direction or another. Interesting nuances recently: 1) Approval of the spot BTC-ETF will lead to billions of dollars of non-investment inflows into the market 2) The government has stepped up BTC protagging for June-July 3) Mainers collectively stopped selling and started accumulating BTC. Their reserves are growing 4) Minimal liquidity is accumulating strong consolidation. A surge in volumes may follow in the near future Strong support levels: 28850, 28450, figure support, MA-200 Strong resistance levels: 29650, 30575, figure resistance. This correction is a logical move in the market. The price can't grow all the time. I expect bullish activity after retesting the support area. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
23