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Elliott Wave

HK2359 Bullish Wave 3In the second half of 2024, the stock accumulated energy and cooperated with the policy to make a beautiful rise, and then fell back to the 0.382 Fibonacci retracement line and fluctuated repeatedly. I believe the next wave of rise is coming! I will buy intraday, the yellow line is the support level, about 51.1 (this is a relatively safe entry price), and the first target profit stop level is 72.45 (Fibonacci retracement line 1.000) I am very optimistic about this stock. When there is a decline, I will give priority to replenishing positions at the 0.382 Fibonacci retracement line instead of leaving the market quickly
HKEX:2359Long
by Nirksan
Blue or Red - Which Alternative Would Play Out in NIFTY50?I see two major possibilities in NSE:NIFTY from Elliott Wave perspective, marked in red and blue. As per blue counts, B of ABC down was done at 24857.75 and we are in C down. The downmove in C so far was corrective W (internally WXYXZ, or triple zigzag) so the bounce this week should be X. X has already retraced more than 50%, though less than 61.8%, so there is a possibility this X is complete and wave Y down within larger wave C will unfold next week. Having said that, X may not be over and might do 61.8% or more so that leaves some more room on the upside followed by Y down. On the other hand, as per red counts, we are still in wave B of ABC down. 61.8% of the A is around 25125 so B might make an attempt towards or beyond that level. Once that's done, C should unfold on the downside. Bigger picture is that, C down is still pending (or already in progress as per blue count) in both scenarios. If we break the low of 23460 then blue wave counts would likely play out. But if we break this week's high of 23226.70 then either blue or red counts could be in play as per the upside levels mentioned in both cases. Let's see on which side camel will sit ...
NSE:NIFTY
by YetAnotherTA
GOLD → Breaking the resistance level. Growing interestFX:XAUUSD enjoys interest despite the growing dollar. Geopolitical and economic crisis is the reason for seeking safe harbor. The price is breaking resistance and trying to renew local highs On the first trading day of the new 2025, gold rose along with DXY amid escalating geopolitical conflicts in the Middle East and eastern Europe and rising tensions around the upcoming policies of Trump and the Fed. Traders are awaiting US manufacturing PMI data from ISM and the Fed President's speech due later on Friday for more trade stimulus for the gold price. Support levels: 2649, 2639 Resistance levels: 2675, 2690 A false breakdown of key support areas is possible. If after the false breakdown the bulls hold the defense above 2639 - 2649, gold may strengthen to 2675 - 2690 in the short term. Regards R. Linda!
FX:XAUUSDLong
by RLinda
4
DAYANG may signal end of Oil SlumpLooking at the chart for Dayang Enterprise Holdings, here's my analysis: Current Price Action: - Trading at RM2.21, down 1.34% - Moving averages in bearish alignment: * SMA 10: 2.30 * SMA 20: 2.22 * SMA 50: 1.95 * SMA 200: 1.67 Elliott Wave Analysis: - Currently in wave (iv) of a larger correction - Complex correction pattern with multiple abc waves - Key support level at RM1.96 needs to hold Technical Structure: 1. Support Levels: - Critical support at RM1.96 (red dashed line) - Moving average support at RM1.95 (50 SMA) - Major support at RM1.67 (200 SMA) 2. Resistance Levels: - Immediate resistance at RM2.42 - Secondary resistance at RM2.80 (previous high at point b) - Volume resistance zone around RM2.60 Notable Financial Events: - September 2024: MYR234.368M (+625.17%) - June 2024: MYR32.319M (+203.95%) - Net income showing improvement: MYR222.267M (-14.02%) Trading Considerations: - Currently in consolidation phase - Watch for break above RM2.30 for bullish confirmation - Stop loss could be placed below RM1.96 - Volume (5.82M) showing decent market participation
MYX:DAYANGLong
by pengamalgelombang
WCT is in wave 3Looking at the chart for WCT Holdings Berhad, here's my analysis: Current Price Action: - Trading at RM1.00, down 2.91% - Currently in consolidation after recent breakout - Price above key moving averages indicating bullish trend Elliott Wave Analysis: - Completed waves I through IV - Setting up for wave V move higher - Wave V target projected around RM1.31 Key Technical Levels: 1. Support: - Strong support at RM0.790 (wave IV low) - Secondary support at RM0.875 (previous resistance turned support) - Moving averages providing dynamic support around RM0.95 2. Resistance: - Immediate resistance at RM1.06 (recent high) - Major target at RM1.31 (wave V projection) - Psychological level at RM1.00 Notable Events: - September 2024: MYR-52.818M (-17.93%) - June 2024: MYR-44.786M (-203.75%) - MYR200.374M (-423.57%) significant movement in September Trading Considerations: - Currently testing support at moving averages - Stop loss could be placed below RM0.90 - Risk/reward favorable for wave V target - Volume profile showing potential accumulation
MYX:WCTLong
by pengamalgelombang
EURUSD → The bears are stepping up the pressureFX:EURUSD continues to form a downtrend. The price updates the local minimum, reaching the target indicated last year :). What's next? Fundamentally, the situation is weak due to Trump's policy towards the euro zone. The strong dollar also increases the bearish pressure on the market. Technically, the priority figure is the downtrend and the previously broken consolidation boundary - 1.033. It is this zone that the price is currently aiming for as a zone of interest. Resistance levels: 1.033, 1.0448 Support levels: 1.022 Both technically and fundamentally the situation is weak, therefore, the emphasis on strong resistance levels from which the fall may resume. Regards R. Linda!
Short
by RLinda
1
UEMS in wave 3Looking at the chart for UEM Sunrise Berhad, here's my analysis: Current Price Action: - Trading at RM1.16, up 9.43% - Strong breakout from recent consolidation - Price moving above all major moving averages Elliott Wave Analysis: - Completed waves I through IV - Currently in early stages of wave V - Wave V target projected at RM1.38 (1.618 Fibonacci level) Key Technical Levels: 1. Support: - Strong support at RM0.92 (wave IV low) - Secondary support at RM1.05 (recent consolidation base) - Moving averages providing dynamic support 2. Resistance: - First resistance at RM1.29 (1.272 Fibonacci) - Major resistance at RM1.57 (2.272 Fibonacci) - Previous high around RM1.38 (1.618 Fibonacci) Volume Analysis: - September 2024: MYR25.914M (+124.51%) - June 2024: MYR-105.723M (-245.80%) - Recent volume spike supporting breakout move Trading Considerations: - Breakout confirmed with volume - Stop loss could be placed below RM1.00 - Risk/reward favorable for wave V target - Momentum indicators showing strong buying pressure
MYX:UEMSLong
by pengamalgelombang
Coinbase UpdateNot really much to add to my COIN analysis. We moved higher today but b may not have started yet. This could just be the last wave 4 before another low gets carved out. As mentioned before, we made a low on positive divergence, stopped just shy of the 1.618, and the pattern appears complete. I can easily see us moving higher from here, especially if BTC takes off too. My stop is still set at $243 for now but will raise it to base entry should price begin moving higher. As long as I don't get stopped out, I will trail my stop up as price moves higher with a take profit target of $300.
NASDAQ:COIN
by TSuth
2
Bitcoin Annual Timeframe AnalysisOverview: Bitcoin's price movement on the annual timeframe demonstrates a clear formation of waves, reflecting market dynamics and investor behavior. The analysis covers the primary wave structures and transitions, as well as the evolution of analytical perspectives based on price actions. Detailed Analysis: Major Wave 1 (2009 - 2017): The first major wave consists of five distinct sub-waves: Sub-Wave 1: Rise from $0 to $30. Sub-Wave 2: Correction to $4. Sub-Wave 3: Strong rally to $1,163. Sub-Wave 4: Correction to $152. Sub-Wave 5: Extension to $19,666. Major Wave 2 (2018): A sharp correction to $3,122, representing the second major wave. This wave is consistent across all scenarios, marking the end of the first cycle and the beginning of the next major trend. Old Perspective (2019 - 2021): The rise from $3,122 to $69,000 was considered the third major wave . The correction to approximately $15,000 was classified as the fourth major wave . The expected termination near $75,000–$80,000 was projected to be the fifth major wave , respecting the Termination Channel. Analytical Shift: The breakout above $80,000 invalidated the old perspective, requiring a reevaluation. The updated analysis reclassifies the movements within Major Wave 3 as: Updated Major Wave 3 (2019 - 2024): Sub-Wave 1: A rise from $3,122 to $69,000. Sub-Wave 2: Correction to $15,974. Sub-Wave 3: Current rally to $108,000, with potential extension towards $125,000. The Termination Channel has now evolved into a Base Channel , providing support for future corrections instead of acting as resistance. Future Projections: Sub-Wave 4: A potential correction aligning with the Base Channel. Sub-Wave 5: A rally to conclude Major Wave 3, potentially exceeding $125,000. Key Failure Points: Price dropping below $69,000 would indicate weakening bullish momentum. Price falling under $46,000 would signify a potential market reversal, undermining the long-term bullish structure. Such a drop would also validate the old perspective, suggesting that Bitcoin's bullish cycle concluded at levels between $108,000 and $125,000. Conclusion: Bitcoin's wave structure showcases a clear roadmap of market dynamics. The transition from the Termination Channel to the Base Channel underscores the evolving nature of market analysis. Monitoring price action within these channels and the identified support levels is essential for making informed trading decisions. This analysis highlights key opportunities for growth while recognizing critical failure points to manage risk effectively.
BITSTAMP:BTCUSD
by ahmadsaad83
WOOF will close the gapLooking at the chart for Petco Health and Wellness (WOOF), here's my analysis: Current Price Action: - Trading at $8.38, down 3.79% - In an Elliott Wave pattern with wave (IV) completed - Setting up for potential wave (V) move higher Technical Analysis: 1. Elliott Wave Structure: - Completed waves (I) through (IV) - Wave (IV) formed complex correction pattern - Wave (V) target around $7.28 (0.786 Fibonacci level) 2. Key Price Levels: - Resistance at $6.50 (horizontal red line) - Support around $3.63 (previous low) - Critical level at $6.01 (0.5 Fibonacci) Volume Analysis: - October 2024: $20.72M (-70.13%) - July 2024: $69.57M (+924.46%) - Recent volume showing accumulation pattern Notable Events: - April 2024: $-8.414M (-117.89%) - October 2024: $-16.673M (+32.83%) - Long-term downtrend showing signs of reversal Trading Considerations: - Currently in accumulation phase - Stop loss could be placed below $3.90 - Initial target at $6.50 resistance - Risk/reward favorable at current levels
NASDAQ:WOOFLong
by pengamalgelombang
Uranium Sector: Bullish OutlookThe uranium mining sector appears to possibly have found its bottom. Since September 2024, many uranium stocks have formed comparable Elliott Wave 1-2 structures. The Wave 2 correction may now be complete, positioning the charts for a potential surge as the anticipated Wave 3 begins. In my eyes, the following companies are the hottest prospects: Energy Fuels Inc. and Uranum Energy Corp. are the first uranium companies in the US, which already are in production. They will money-wise profit immediately from the growing demand for Nuclear Energy in America. Uranium Energy (UEC) has the highest possible and licensed production capacity in the US (12.1 M lbs Uranium per year) and will probably be the biggest US-Player. Here is the UEC-Chart: Denison Mines Corp. and Nexgen Energy Ltd. are uranuim mining companies, which engage in exploration and development. They both have very high grade ressources, but they wont go into production for at least 2-3 years. Either way the market seems not to be bothered by this circumstance. The future success of their projects is getting priced in heavily. Here are the two charts: Uranium Royalty Corp. (URC) is the first and only Royalty-Company in the Uranium sector. They are also holding Physical-Uranium as an investment, anticipating higher uranium prices in the fututre. The companie has connections to Uranium Energy and the whole management is very experienced. I think they as well are in a great position, to profit from a Uranium-Bullrun. Here is the URC-Chart:
AMEX:UUUULong
by PF_Analysis
3
Exxon Mobil (XOM): Preparing for a Q1 2025 SetupHeading into Q1 2025, we believe NYSE:XOM could present a promising buying opportunity, and we are preparing a setup to align with our bias. Since April, we have been closely monitoring Exxon Mobil, and the technical picture continues to gain clarity as the stock respects both the range middle and range high. The wave ((b)) overshot wave A by a significant margin but still within acceptable limits for a flat correction. Since the overshoot in early October, NYSE:XOM has seen a substantial decline—falling 17% over 75 days, a significant move for this stock. The primary driver behind this decline seems to be ongoing shareholder challenges. Over the last three years, Exxon Mobil has resisted calls for meaningful carbon emissions reductions, instead doubling down on traditional oil and gas operations. Legal action against shareholder activists pushing for emissions reduction targets has only added to the controversy, with proposed changes falling short of expectations. The shareholder concerns highlight a critical point: some voting patterns defy logic when aligned with long-term goals. Questions remain about whether Exxon Mobil should, or can, prepare for a carbon-neutral future. The widely publicized shareholder vote in 2021, which many hoped would lead to substantial changes, seems to have produced minimal practical outcomes. Despite these issues, we see potential for NYSE:XOM to resolve its challenges in the near future. From a technical standpoint, we observe a strong likelihood of a wave C drop into the $101–$92 range, which aligns with the 61.8%–78.6% Fibonacci retracement levels. This would be a key area to begin building a position.
NYSE:XOMLong
by freeguy_by_wmc
Ford (F): Struggling to Reclaim ResistanceFord was unable to flip its resistance and is now back trading near the support level, with the situation becoming increasingly precarious. NYSE:F has closely followed the Elliott wave count until recently, but now signs of weakness are emerging. If the $9.4 support level is lost, it will invalidate the previous wave count. Analysts remain pessimistic about Ford’s outlook due to persistent challenges. The company faces potential pricing pressures on internal combustion engine vehicles and continued struggles in the electric vehicle market amid an ongoing price war. Additionally, possible tariffs on imports from Canada and Mexico under Donald Trump’s policies could further complicate the situation. At this point, we do not see any compelling opportunities in the current market for $F. A long opportunity may arise only if Ford manages to reclaim the significant resistance level. Until then, the risk-to-reward ratio does not justify any immediate action.
NYSE:F
by freeguy_by_wmc
RIOT correction over or another low?My previous target under $10 never hit so still speculative of if the correction is over. My primary count has the correction over and C was not as long as I'd expected. My alt count has C just starting with a flat for W-B. It really just depends on if Dec 5th - 10th was 3 waves or 5 waves with a pretty short wave 4. Either looking at the 12.1 - gap close around 11.8 or down to under 10, will depend on the structure as it comes down. Just not planning on catching a falling knife if a W-3 of C starts! Open to either, but end plan still the same!
NASDAQ:RIOTLong
by stsmurf
9
This one turning into a lengthy tradeI am not happy that my previous post was right. Well, was sort of right, up to this point, but the stock has fallen out of bed this morning instead of bouncing on that 400-ish level I measured for the 1:1. Now it is in the 1.272 extension range and at this point my forecasted ABC corrective downward move is in danger territory. It is so oversold in multiple timeframes that only a hard bounce here for a bigger degree B wave could save it from this decline into escalating into a Wave 3. I am regretting not selling the entire package at $464 instead of only reducing it.
NASDAQ:TSLA
by BelaK
Decoding Reversals: Technical Analysis of ONGC: Educational postEDUCATIONAL POST Technical Analysis of ONGC Stock This post is for educational purposes only and should not be considered as investment advice. In this post, we'll analyze the ONGC stock chart using technical indicators. Key Points: 1. Bullish Divergence: Price and MACD are diverging, indicating a potential reversal. 2. Bullish Divergence: Price and RSI are also diverging, supporting the reversal idea. 3. Resistance Breakout: The stock has broken through a key resistance level with strong volume. 4. MACD Turns Positive: MACD has turned positive after the breakout, confirming the reversal. 5. Elliott Wave Counts: Wave counts suggest a potential reversal. What to Expect: Based on these indicators, we can see a potential reversal in ONGC's stock price. It may retrace to Fibonacci levels (50-61.8%) before continuing upward. Conclusion: This post is meant to illustrate how technical indicators can be used to analyze a stock chart. Please do your own research and consult with a financial advisor before making any investment decisions. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:ONGCEducation
by RK_Chaarts