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Elliott Wave

NIFTY50.....Waves c of b of iv up next?Hello Traders, The NIFTY50 has made a low at 24694. Since this level we have seen a counter-trend move (against the larger direction) to 25234. This level was just below my first possible target @ 25287 and turned out to be wave a of b of iv! After this move, the price fell to 24920 and retraced below the 0.5 Fibonacci. As can be seen on the chart, the price moved above the declining trend line and "broke" above it. So the next move could be wave c of b ov iv in the coming hours! Technically motivated traders will follow this buy signal with a close stop loss level. If the N50 breaks below the 24694 level, a wave c of iv to new corrective lows is underway! A possible target area is 24283 to 23173. Please note the different degrees of the waves I am describing! While N50 is advancing to the 25473 area, the targets may not be that low, depending on the internal structure of the developing waves. So I think you are well-prepared for the next 2–3 days. I will try to find some time to update the count! Have a great week..... Ruebennase Please ask or comment if necessary. Trading based on this analysis is at your own risk.
NSE:NIFTY
by ruebennase
3
BITCOIN one last shakeout before GOD CANDLE?Bitcoin is following a perfect Leading Diagonal, and we’re nearing the completion of the pattern, with only subwave 5 left. I expect that after this final move, we may see one more shakeout before a major rally begins, potentially with a massive "god candle" signaling the start of wave 3. The upcoming U.S. elections on November 5 and the FOMC rate cut decision on November 7 could serve as additional catalysts, driving Bitcoin and other altcoins to new highs.
CRYPTO:BTCUSD
by chase_ID
YM1! evening updateAnalysis of YM1!. This count sees price in wave ((5)) of (v), with wave (v) starting at October 2022 low. From 5 August 2024 low, count in red is less bullish, count in green is more bullish. If count in red is correct, then 5 must be shorter than 3 (as 3 was shorter than 1), and price will not go above resistance at 45062. If count in green is correct, price would be in wave 3 of (3) of ((5)) and extend above 45062. Regardless of whether green or red is correct, each ends primary wave (v), and if median line of pitchfork cannot be tagged, it suggests that price will revisit October 2022 lows. As price gets closer to 45062, reward/risk for YM1! short off that resistance improves.
CBOT_MINI:YM1!
by discobiscuit
Elliott Wave Analysis with Fibonacci Extensions - Potential BullIn this chart, we observe a clear Elliott Wave structure with five impulsive waves, indicating a potential bullish continuation. The Fibonacci extensions are plotted, highlighting possible Take Profit (TP) levels based on the wave projections. Wave 1 to 5 completed, with Wave 5 potentially leading to significant price growth. The Fibonacci retracement levels show key support areas, while the Fibonacci extensions suggest potential upside targets. Key Targets: TP0: MAX 81,738.0 (168% - 200% Fibonacci) TP1: MAX 98,157.0 (261% - 300% Fibonacci) TP2: MAX 114,576.0 (361% - 400% Fibonacci) TP3: MAX 130,995.0 (461% - 500% Fibonacci) The current price action is in consolidation, suggesting a breakout may occur soon. A strong move past TP0 could accelerate the upward momentum towards the higher TP levels. Keep an eye on support levels around 63,068.0 and potential correction zones before a breakout occurs. Disclaimer: This is just my personal view based on technical analysis, and it is not financial advice. Please conduct your own research and trade responsibly!
BYBIT:BTCUSD.PLong
by CryptoTraces
Rules of Motive WavesMotive Waves are the components of Elliot Wave structure. Motive Waves consists of 5 sub-waves of which 3 are impulse (In the direction of trend) and 2 corrective waves. The Motive Wave in the upward direction will start with Swing High, Ends with Swing High and consists of 3 Higher Highs and 2 Higher Lows representing strong upward trend. Motive Wave in the downward direction will start with Swing Low, Ends with Swing low and consists of 3 Lower Lows and 2 Lower Highs representing strong downward trend. 🎲 Types of Motive Waves Motive Waves are broadly classified by two types: Impulse Waves Diagonal Waves Diagonal Waves are further classified into Contracting and Expanding Diagonals. These can fall into the category of either leading diagonal and ending diagonal. 🎲 Rules of Motive Waves 🎯 Generic Rule of any motive waves are as follows Should consist of 5 alternating waves. (Swing High followed by Swing low and vice versa) This can start from Swing High and end in Swing High or start from Swing Low and end in Swing Low. Wave-2 should not move beyond Wave-1. This means, the Wave-2 is always shorter than Wave-1 with respect to distance between the price of start and end. Wave-3 always moves beyond Wave-1. This means, the Wave-3 is always longer than Wave-2 in terms of price Among Wave-1, Wave-3, and Wave-5, Wave-3 is never the shortest one. This means, either Wave-1 or Wave-5 can be longer than Wave-3 but not both. Wave-3 can also be longest among the three. Here is the pictorial representation of the rules of the Motive Waves For a wave to be considered as motive wave, it also needs to follow the rules of either impulse or diagonal waves. 🎯 Rules for a 5 wave pattern to be considered as Impulse Wave are: Wave-4 never overlaps with Wave-1 price range Wave-1, Wave-3 and Wave-5 should not be either expanding or contracting. Meaning, we cannot have Wave-1 > Wave-3 > Wave-5 , and we cannot have Wave-1 < Wave-3 < Wave-5 Pictorial representation of the impulse wave rules are as below: 🎯 Rules for the Diagonal Waves are as follows Contrary to the first rule of impulse wave, in case of diagonal wave, Wave-4 always overlaps with Wave-1 price range. Wave-1, Wave-3 and Wave-5 are either in expanding formation or contracting formation. That means, we need to have either Wave-1 > Wave-3 > Wave-5 OR Wave-1 < Wave-3 < Wave-5 Pictorial representation of the Contracting Diagonal Wave is as below. Here, the Wave-1, Wave-3 and Wave-5 are in contracting formation. Pictorial representation of the Expanding Diagonal Wave is as below. Here, the Wave-1, Wave-3 and Wave-5 are in expanding formation.
Editors' picks
Education
by Trendoscope
5
Upmove for BitcoinHi traders, Last week Bitcoin came into the higher Daily FVG and dropped immediately to the previous lows. After that it went up again. So if price stays above the Daily FVG I think we could see a small correction down and another upmove. Let's see what the market does and react. Trade idea: Wait for a correction down, a change in orderflow to bullish again and after that a small correction down on a lower timeframe and trade longs. If you want to learn more about my analysis, please make sure to follow me, give a like and respectful comment. This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide signals. Don't be emotional, just trade! Eduwave
Long
by EduwaveTrading