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Elliott Wave

DOGS → Double bottom favors resistance breakoutBINANCE:DOGSUSDT is forming a double bottom followed by a breakout of trend resistance. Quite a promising situation, provided the bulls hold their defenses above 0.00081. After the listing, the coin flies to the moon due to the dump, but after the appearance of a strong seller or lack of interest from the buyer, against the background of weakening support of Pavel Durov arrested in France, a market phase change to a “dump” is formed. Technically, a double bottom is formed on 4H, followed by the renewal of local lows and the breakout of trend resistance, which indicates the formation of a market bottom. At the moment, the cryptocurrency market shows bullish dynamics, which can affect DOGS accordingly Resistance levels: 0.000885, 0.000938 Support levels: 0.00081 After the dump the coin has good chances to show already adequate realization. If the bulls keep the defense above 0.00081, we will have chances to get on the train to the north, to the targets 0.00096, 0.001, 0.00117 Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:DOGSUSDT ;) Regards R. Linda!
Long
by RLinda
1
GOLD → Will the rally end with a FB? 2670 - liquidity...FX:XAUUSD is growing together with the dollar, the correlation cooled down after the change of fundamental background. The range of 2670 - 2600 is being formed. The metal is rallying to resistance for liquidity. Geopolitical issues. High tensions in the Middle East as well as rising tensions in East Asia between China and Taiwan are worrying investors looking for safe havens. Last week showed not so good economic data for gold. The dollar rose very strongly during that time. But gold gold traders were most likely paying attention to the dovish remarks by Fed policymakers about lowering interest rates.... Technically gold is in a sideways range and is testing liquidity above 2660. The bears are likely to give a not so warm welcome.... Resistance levels: 2663, 2670, 2685 Support levels: 2650, 2637, 2623 Strong movement from the bottom of the range reaches its upper boundary. Technically, the price has no potential to break through the strong range resistance. A false breakout is possible, the purpose of which may be to capture liquidity, followed by a decline. The situation may be broken by unexpected geopolitical or economic news, but at the moment there is no such news Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
6
DJI, Elliott wave analysisOutlook for DJI on the 12h chart. There have been no changes since the last update. It looks like the waves of the upper degree are forming an Expanded Flat, and the waves of the lower degree are forming a Expanding Diagonal. We are probably in sub-wave c of wave 5, and the final wave 5 within sub-wave c will complete soon. If this scenario is correct, the target of final wave 5 will be 43,273* to 43,783**. After that, the resistance line (black dotted line) will reject all waves, the upper-degree wave (b) will complete. The next phase is the upper-degree wave (c). It will probably crash. *1.618 times the upper degree wave (a). **1.618 times the upper degree wave a. Last time, my idea: Sep 27, 2024. Short-term analysis.
TVC:DJIShort
by EWA-tokyo
$SPY October 15, 2024AMEX:SPY October 15, 2024 15 Minutes. Being a moving average and Fib trader it is difficult for me to enter when the difference is around 10$ is 200 averages for a 15-minute time frame. I prefer to sit for a retracement today for 578.5 to 580 levels. For today. I prefer to sit on side even though i have a target as written earlier 587 levels. And AMEX:SPY made a high 585.27 yesterday. As we can see in daily time frame Between July to September SPY formed a good base between 535 to 565. Hence once 595 is crossed i expect a huge upside towards 640-680 levels. I expect some consolidation for 575 - 585 before next move so that the moving averages can catch with price. No time for short unless it is for a 10 to 15$% range in $SPY. This is my view as of now based on how AMEX:SPY is currently moving in charts. On daily basis I will review downside only when AMEX:SPY is around 560 levels which is 50-day average in daily chart.
AMEX:SPY
by RiderTrader
3
BMW (BMW): Navigating Through Uncertainty in the Auto MarketThe German automotive industry is currently facing significant challenges, from rising production costs and the transition to electric vehicles to increased competition from China. Despite these hurdles, we believe that most of the negative factors are already priced into the market. From a technical perspective, we’re zooming out to get a broader view of BMW. Ignoring the COVID-19 dip, BMW has been ranging between 55€ and 113€ for an extended period. We anticipate that this range will continue, as markets tend to range 70% of the time. Right now, BMW is at a critical level, either bottoming out for the fourth time or, more likely, preparing to break below and collect the sell-side liquidity that has accumulated over the past three years. Our plan is simple: We’re monitoring this closely, with alerts set to notify us if the stock dips below this level. Should this occur, we’re looking at a potential entry near 62€. We will update you with our strategy once this scenario unfolds.
XETR:BMWLong
by freeguy_by_wmc
1
Crude Oil (CL1!): Why We’re Still Expecting Lower LowsAt the end of last week, we fine-tuned our Crude Oil outlook, and we are still expecting lower lows to take out the sell-side liquidity below. Our limit order at $63.23 remains valid, even after last week’s pump, which was driven primarily by rising tensions and the ongoing war in the Middle East. Oil gained 13% over five sessions following Iran’s attack, as traders feared Israel’s response might target Iran’s oil infrastructure, potentially cutting into the country’s 1.7 million barrels per day of exports. There are also concerns that a broader war in the oil-rich Persian Gulf could threaten nearly a third of global oil output. However, the geopolitical risk premium may be fading due to Israel’s delayed response. The geopolitical risk premium has an unclear and unpredictable expiration. When that moment comes and is not supported by real, fundamental factors—such as a substantial supply shortage due to the conflict—the upward movement in oil prices will not be sustainable. The longer this takes, the more the price increase will slow and potentially reverse, which is exactly what we are starting to see in the chart. While Crude Oil respected the 61.8% Fibonacci level almost perfectly, it found stronger resistance at the POC just above that level. Given the bearish RSI divergence, we continue to expect Oil to move lower, provided the conflict in the Middle East does not escalate further.
NYMEX:CL1!Long
by freeguy_by_wmc
Microstrategy Remains In The Bullish Trend; Positive For Crypto?MicroStrategy is a leading provider of business intelligence (BI) and analytics software. Founded in 1989, the company helps organizations analyze data to make informed business decisions. It's known for its robust platform that supports data discovery, predictive analytics, and mobile app. Additionally, MicroStrategy has made headlines for its significant investments in Bitcoin and both of them are still in the bullish trend. Microstrategy with ticker MSTR remains nicely bullish as expected and looks like 5th wave is in progress, which can push the price even higher with space up to 300 area, just be ware of short-term pullbacks. If that will be the case, then Crypto related stocks may cause a bullish breakout on Bitcoin as well due to their positive correlation.
NASDAQ:MSTRLong
by ew-forecast
Bitcoin Attempt to Bullish ReversalAfter the sharp drop from my previously published idea, Bitcoin is now attempting to create an impulse; If a successful retracement for wave 2 is accomplished we should expect a 3rd wave rally towards 65k levels breaking the B wave and confirming the termination of the corrective pattern, to further support this reversal Idea bullish divergences can be observed on the hourly time frames, which gives a higher probability for the upcoming rally.
Long
by xTomato
Is Solana (SOL) Ready To Continue Next Rally? Since April-2020 low, SOL:Binance made all time high of $267.52 in November-2021 as (I) impulse sequence. Currently, it favors upside in ((3)) of I after correction of (II) ended at $7.96 low in December-2022 low. It needs to break above November-2021 high to confirm the next bullish sequence. Since April-2020 low, it placed I of (I) at $61.44 high, II at $19.04 low, III at $221.38 high, IV at $115.45 low & V at $267.52 high. After that it corrected lower in (II) as dip pullback in double correction at $7.96 low in December-2022. Within (II), it placed w at $75.34 low, x at $143.17 high & y at $7.96 low. Above (II) low, it resumed higher in ((1)) of I, which ended at $210.03 high in March-2024. In ((1)), it placed (1) at $26.78 high, (2) at $12.82 low, (3) at $126.35 high, (4) at $78.87 low & finally (5) at $210.03 high as ((1)). It corrected in ((2)) as zigzag correction, which ended at $109.89 low. Within ((2)), it placed (A) at 118.89 low as 5 swings, (B) at $194.07 high as flat & (C) at $109.89 low as ((2)). The zigzag correction missed the extreme areas before turning higher. Above ((2)) low, it placed (1) at $163.56 high & (2) at $120.40 low. It is choppy at the moment & need to break above (1) high to confirm the next move higher to be (3) to extend towards $174.84 – $208.07 area or higher levels as nest in (3). We like to buy the next pullback in 3, 7 or 11 swings, once it breaks above ((1)) high, confirming bullish sequence. Alternatively, if it breaks below $109.89 low, it can do double in ((2)) correction against December-2022 low before resume the trend.
BINANCE:SOLUSD
by EWFcw
TOTAL crypto DiagonalI found a pattern that is the key to upcoming moves in all cryptocurrency markets. I am looking at the same charts for months because I focus on them as indicators, however I has discovered it on TOTAL, which indicates his predictive strength. It is quite simple to understand the pattern. Here is a quote from the book “Elliott Wave Principle”, - A diagonal is a pattern that has two corrective characteristics. As with an impulse, no reactionary subwave fully retraces the preceding actionary subwave, and the third subwave is never the shortest. A diagonal is the only five-wave structure in the direction of the main trend within which wave four almost always moves into the price territory of wave one and within which all the waves are "threes" or can be labeled 5-3-5-3-5. It has recently come to light that a diagonal occasionally appears in the wave 1 position of impulses and in the wave A position of zigzags. An ending diagonal occurs primarily in the fifth wave position at times when the preceding move has gone "too far too fast". A very small percentage of diagonals appear in the C-wave position of A-B-C formations. In all cases, they are found at the termination points of larger patterns, indicating exhaustion of the larger movement. Here is an example of Ending Diagonal on DJIA. Ending diagonal often ends in a “throw-over,” i.e., a brief break of the trendline connecting the end points of waves one and three. A rising ending diagonal is usually followed by a sharp decline retracing at least back to the level where it began and typically much further. A falling ending diagonal by the same token usually gives rise to an upward thrust. Fifth wave extensions, truncated fifths and ending diagonals all imply the same thing: dramatic reversal ahead. At some turning points, two of these phenomena have occurred together at different degrees, compounding the violence of the next move in the opposite direction. That it for now! Which next steps towards analysis of this discovery do I see? In the text of the citation there is mentions of the labeling shape - 5-3-5-3-5. It is need to check the relationship to the PHI, this may give a clue - Ending or Leading Diagonal do we have and - targets projection.
CRYPTOCAP:TOTAL
by dogecoin_chain
AAVE: Strong Impulsive Move on the HorizonAAVE is showing two clear, decisive breaks of the upper trendlines, pointing to an upside move. The price action looks impulsive, with sharp upward lunges already visible. If this pattern holds, we’re likely in Wave 3, and a significant move to the upside could happen quickly. However, after Wave 5 of 5 completes, we should expect a classic ABC correction to follow. For now, the trendline analysis looks solid, but it’s crucial to wait for a decisive trend break before considering taking positions. As always, make sure your signals align before jumping in.
CRYPTO:AAVEUSDLong
by cryptechcapital
Tesla UpdateLast Friday price action pretty much went how I forecasted. I mentioned before the robotaxi event that inside investors were signaling price was about to head down. Of course, anything can happen with these things, but price action/structure dictated price head lower. The day after the event (market was closed during), price absolutely tanked and dropped almost 10% right into our target box for c of A. From here we have a few different options on the table. The first thing that can transpire, is price chop around in this area with a downward bias toward the 1.618 fib extension @ $211.84. After this, minor B should start and bring us up to the $240's with a possible low $250's price point. The ALT to this, is we begin to head up from here. We moved below the 1.5 extension by $0.14 cents before raising slightly. In my experience, though, when in this circumstance if price breaches the 1.5, it usually has intentions of visiting the 1.618. Again, this isn't any rule, just the norm. Either way, rather we make another low to the 1.618 or not, we should begin to raise again shortly towards the $240's for minor B. One thing to note, regardless on if we make another low or not, the larger 0.382 @ $248.85 falls in between the 0.618-0.786 retracement fibs of our minor wave A....so long as we don't extend lower past the 1.618 lol.
NASDAQ:TSLA
by TSuth
NIFTY - Elliott Wave Outlook Timeframe: Weekly NSE NIFTY began an impulsive move after hitting a low of 15183.4 . Based on the wave count, the price completed wave (5) of wave (3) at 26277.3 and has since started to decline. The price is currently in a wave (4) correction phase. Let’s switch to the daily timeframe for a closer look at the details. Timeframe: Daily On the daily chart with a neckline at 24,750 , we’re observing a bearish head-and-shoulders pattern forming. If the price breaks below this neckline, Nifty could drop significantly, potentially reaching the demand zone or surge point of the pattern. However, if the price fails to break this neckline, it indicates weakness in the bearish momentum, signaling a possible reversal According to the Elliott Wave Principle, if wave 5 is an extended wave, the correction often occurs near sub-wave 2 of the previous impulse, especially if it falls below sub-wave 4. So, 24,570 will be a crucial level for Nifty. We can expect the price to move up by no more than 126% of wave A within the correction. Otherwise, there’s a risk of mistaking wave B for wave 3. Whatever scenario Nifty chooses, it’s better to let Nifty commit to a clear direction before we commit to the market. We will update further information soon.
NSE:NIFTY
by Trade-Technique
4
XAUUSD: Final Wave Completion – What’s Next?XAUUSD has formed a corrective pattern on the hourly chart, offering a potential breakout setup. The correction has spanned over two weeks, during which the price has frequently crossed the EMAs (50/100/200 ) on the hourly timeframe. Meanwhile, the 20 EMA has consistently acted as solid support on the daily timeframe. The pair has completed its final wave 5 of wave (C) at 2604 and has since started to rise sharply. Currently, XAUUSD faces a strong resistance level at 2670 , which marks the high of wave (B). If the price breaks above 2670 , traders can target the following levels: 2685 - 2715 - 2735 +. If the breakout fails, the correction may continue, as 2670 is the key hurdle for the bulls to overcome. Further updates will follow soon.
OANDA:XAUUSD
by Trade-Technique
1
BTC and Trendlines: Patience over FOMO for a Clear SignalTrendlines are key to staying disciplined. Recently, BTC has seen some impressive inflows, with a couple of green bars showing up nicely on the charts. In the past, this might have triggered some FOMO, tempting me to start adding capital as those green bars intensified. But does this necessarily mean we’re seeing a trend reversal? Absolutely not. The real difference between FOMO and a solid trade setup lies in waiting for the ‘jive’ of multiple signals to confirm the move. For me, the most reliable indicator remains the trendline. If the yellow trendline is decisively broken, then we can confidently say BTC is on Wave 3 of 5 of 5 of 1. However, this recent green uptick alone isn’t enough to suggest a decent trade opportunity yet. Points A, B, and C might have been valid entry points in the past, but without a clear break of the upper trendline, the risk of a reversal still looms large. For confirmation, I’m looking for a decisive break—a full open and close above the trendline, ideally on at least a 4-hour timeframe. Only then can we be more certain about BTC’s next big move. If Point D is reached (around $63,600), that’s where I’m fully in—riding it up to around $130K. Until then, it’s all about waiting for the signals to align and not getting caught up in short-term excitement.
by cryptechcapital
1
USDJPY swing trade update. 800 pips done! We sent out our this next analysis exactly a month ago to our members at Fractals Trading Community: "After falling for almost a month, dollar has gained some strength in recent weeks and the Japanese currency intervention is seemingly slowing down, as we have seen some huge bullish moves on other pairs. As seen on chart, the price has hit the weekly 0.618 fib level and the VWAP drawn from the start of the second quarter(March). For our TP levels we target 146.55; 149 and 152. Will update next week." (linked idea) Setup is currently running with 2 TP levels already hit. Will send a new analysis next week. This analysis is taught and provided by Fractals Trading. Trade safely and expect the unexpected, Mei
Long
by martinmei
1