Elliotwaveanalysis
Charting the Future: An Elliott Wave ApproachTechnical Analysis of Rajesh Exports Using Elliott Wave Theory
Monthly Time Frame Analysis
Elliott Wave Count and Structure:
- The monthly chart of Rajesh Exports shows a clear Elliott Wave pattern, suggesting the completion of a corrective wave (C) of a larger degree wave ((2)) in Black, implying that a new bullish impulse is likely to begin wave ((3)) in Black.
- The recent price action indicates the end of Wave (C), part of a larger correction that followed a significant impulse wave (5) earlier of wave ((1)) in Black.
- This suggests that the stock is about to start a new bullish cycle, labeled as Wave (1) in Blue of a new impulse higher Primary degree wave ((3)) in Black.
Bullish Divergence:
MACD: The price shows hidden bullish divergence with the MACD, as the MACD line forms higher lows while the price makes lower lows on Monthly time frame.
RSI: Similar hidden bullish divergence is observed with the RSI too on monthly time frame, reinforcing the bullish outlook.
Daily Time Frame Analysis
Bullish Divergence:
MACD: The price shows bullish divergence with the MACD, with the MACD line forming higher lows while the price forms lower lows.
RSI: The RSI also shows bullish divergence, adding further weight to the bullish scenario.
Trigger Point:
Trendline Breakout:
The daily chart indicates a trendline breakout accompanied by a significant increase in volume. This breakout suggests a strong bullish sentiment and confirms the start of a new upward trend.
Invalidation Level:
The invalidation level for this bullish scenario is set at 261. If the price falls below this level, the bullish wave count would be invalidated.
Targets:
According to Elliott Wave Theory, the third wave (3) is typically the most powerful. Using the Fibonacci extension, the 161.8% target of Wave (1) places the possible price target near or above 1800.
Summary
Elliott Wave Count: Indicates a potential start of a new bullish impulse wave.
Bullish Divergence: Both MACD and RSI on the daily and monthly charts show bullish divergence.
Trendline Breakout: Confirmed with high volume, suggesting strong upward momentum.
Invalidation Level: 261
Target: 161.8% Fibonacci extension of Wave (1) projects a target near or above 1800.
The overall analysis suggests that Rajesh Exports is poised for a significant upward movement, with strong bullish indications from both the Elliott Wave counts and technical indicators.
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.
Why ALTSEASON 2.0 is HEREIf you've been following for a wile, you'll know I've been speaking of Elliot Wave theory and cycles - and how, from a macro perspective, we are currently in a multi-month correction before another impulse wave up.
By looking at the TOTAL3 chart, as discussed in the video, it seems likely that this may only be the BEGINNING for altcoins... and you'll see why.
Even though multi-month corrections can be demotivating, patience rewards the faithful!
Check out yesterday's analysis on Altcoins that are strong right now despite the recent dip:
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CRYPTOCAP:TOTAL3
Charting with Elliott Waves & Technical AnalysisUnderstanding how to do Technical Analysis of any chart based on Elliott Waves
This analysis is for educational purposes only and should not be considered as trading advice. Multiple scenarios are possible in the real market, and there is a risk of being wrong. It is essential to consult with a financial advisor before making any trading or investment decisions. We are not responsible for any profits or losses incurred based on this analysis.
Wave Rules:
Wave 2 cannot retrace more than 100% of Wave 1.
Wave 3 is never the shortest wave.
Wave 4 should not overlap with Wave 1's price territory, except in diagonal triangles.
Applying Elliott Wave Theory
Elliott Wave Theory is a powerful tool for traders, but it requires practice and a deep understanding of market psychology. By analyzing wave patterns, degrees, and Fibonacci relationships, traders can gain insights into potential market trends and make informed trading decisions. It is important to combine Elliott Wave analysis with other technical indicators and risk management strategies to enhance the accuracy and reliability of market forecasts.
Elliott Wave Theory provides a comprehensive framework for understanding market cycles and predicting price movements. By mastering its principles and applying them with discipline, traders can enhance their ability to navigate the financial markets and capitalize on emerging trends.
Let's understand study of this chart
Elliott Wave Analysis:
The chart represents the Possible Elliott Wave counts for TATA STEEL, currently indicating the completion and projection of waves within an impulsive structure.
Wave Count Overview:
The chart demonstrates a five-wave impulsive structure labeled as:
Wave (i), Wave (ii), Wave (iii), Wave (iv), Wave (v)
The blue zone highlights a previous resistance area, which is now acting as a potential support zone.
The current wave structure projects wave (v) of ((v)).
Invalidation Level:
The nearest invalidation level for this wave count is at 155.00. A drop below this level would invalidate the current wave count.
Potential Targets:
The projected target for wave (v) of ((v)) is around level of 184.60 & more.
This target is derived from typical characteristics of the fifth wave in Elliott Wave Theory, often extending to new highs before the completion of the impulse wave.
Elliott Wave Principles and Characteristics of Wave (v):
Elliott Wave Theory posits that market prices move in repetitive cycles, consisting of five waves in the direction of the main trend (impulse waves) and three corrective waves.
Wave (v) in an impulse sequence is typically the final wave of the trend and often displays characteristics such as:
Completing the overall five-wave pattern.
Extending beyond the previous high of wave (iii).
Exhibiting momentum divergences (where price makes a new high but momentum indicators do not).
Sometimes driven by fundamental news or events, leading to sharp price movements.
Key Levels to Watch:
Current Price: 160.31
Nearest Invalidation Level: 155.00
Potential Target for Wave (v) of ((v)): 184.60
Educational Note:
Students of Elliott Wave Theory are encouraged to practice drawing their own wave counts and verifying whether all subdivisions align with higher-degree wave principles. This practice will enhance your study, making it more accurate and practical. Always remember, in real markets, multiple possibilities exist, and this analysis focuses on one potential scenario. There is a risk of being completely wrong.
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.
GOLD Potential sell setupWe are expecting gold to drop one more time before undergoing more complex structure.
How soon and how fast this will play out can only be determined by fundamental
Anyway we wait and see
Don't forget to follow us and like our work
BTCUSD - Potential for Sellers to Reach +600 PipsBTCUSD Daily Outlook (07.24.2024)
The market has formed a motive wave pattern 12345.
And will form an ABC wave correction pattern.
Potential for Sellers to Reach +600 Pips.
Target Price at 61,000.00 or Fib. 50%.
USOIL - Potential for Buyers to Reach +1500 PipsUSOIL Weekly Outlook
The Market will form an ABCDE Pattern.
Potential for Buyers to Reach +1500 Pips.
Entry Price at 74,00
Target Price at 89,00
detailed important chart tells u why to buy AVAXin weekly chart can notice a breaking out of falling wedge pattern finally after more than 6 months..
the price now moving in huge ascending channel going to making new ATH in next few weeks..
u can see elliot wave in the chart and It's clear that elliot wave correction done
one of the biggest coins in the market ... ranked 11th in terms of market cap (11.871B)
it's on good support and suitable place to buy ... long term target is 200$
best regards ceciliones🎯
DOGE - Diagonal price action There are no guarantees in the markets, only probabilities. I see the following 2 short-term probabilities:
On the 2-day timeframe we see an impulse structure. The fourth wave has already completed. According to Elliott Wave norms, it may go a little higher, but not significantly. The top could be the 0.174 EUR MAX mark.
According to the principle, the fifth wave may update the troughs a bit, or stop near the end of the third wave. The horizontal volume profile gives a good guide - a range between ~0.077 and 0.06 EUR.
A bit more globally, I view the whole structure as an Expanded End Diagonal formation. Therefore a strong reaction to EUR 0.47 is possible after the end of the 5th wave of the smaller degree, this is my base case scenario. Keep in mind, if you look at the picture on the 1D TF, the 5 way down structure is already completed!
Also remember that Waves act simultaneously on ALL degrees. So there is another possibility - when this 5-wave pattern works out, a more global degree will take effect, so the price may fall deeper than 0.06 EUR !!
:) The result, as always - there are not many probabilities - either UP or DOWN. So manage your risks and make fat profits !!!
Seasonality and Elliottwave pattern show correction for SP500We saw SP500 breaking to new ATH this month, but then market sharply reversed which is not a surprise as index formed an ending diagonal at the top of the recent rise. These type of the patterns are very powerful, and can cause a strong "unexpected" erased of some of the previous gains.
Well, we can see an impulsive reversal on smaller time frame, so be aware of more weakness and deeper correction this summer. Sesonality chart also shows that there can be period of consolidation before market resumes even higher, possibly in September when FED may cut, or during US ellections.
Grega
EURUSD Potential sell SetupWill EURUSD drop from this point?
From wave analysis perspective, we are expecting one more drop before a more complex structure.
Confidence is not "This trade will be profitable."
Confidence is "I will be fine if this trade is not profitable
USDCHF Potential sell setupEvery trade have its own risk factor, but making money require we take calculated risk .
I am seeing a potential sell setup on USDCHF
Will this setup play out?
Only time will tell
Wish you the best
Please follow my channel
Vechain/Usdt h4We notice that the price has finished 3 impulse waves and the wave structure is not complete and lacks a final fifth wave. Now the price is in the fourth corrective wave that may reach the 50 Fibonacci levels of wave 3 since the second wave reached 61.8 Fibonacci. I do not think that the fourth wave may extend more than 50 percent Fibonacci. Therefore, at the 0.028000 area, we may see a strong price explosion upwards and the first target is 0.035000 and by breaking it, we may continue to 0.039960. I wish you success.
BTCUSDH4Bitcoin is rising from these levels, provided that it is forbidden to break the last bottom of $53,591. The correction now is what determines whether we are in an impulsive pattern or there is another bottom. If you see a clear triple correction, Bitcoin will definitely explode strongly upwards.
DOGE/USDT ELLIOT PRICE ACTIONHi guys, this is my overview for DOGE/USDT, feel free to check it and write your feedback in the comments👊
Some days ago, the price entered a falling channel, where it at once broke $0.10 level and fell to the support line.
Next, the price bounced from this line and soon broke the $0.10 level again and made the false breakout with the Dragon Fly candlestick
Sometime later, the price traded near the $ 0.011 level, and a not long time ago broke it, after which rose to the resistance line of the channel.
Possibly, the price can Reach to a new high in about 100 days
If this post is useful to you, you can support me with a like/boost and advice in the comments❤️
Should we expect complex structure on BTCApparently , BTC bulls are back , but as a trader, we expect complete corrective structure before the up move.
shibashiba technical analysis basically on elliott waves principles
shiba can be make new high as a wave 3
wait and watch
NVDA expected correction and buying areaDue to a morning star candle pattern and completion of 5 wave impulsive Elliott wave pattern, I expect NVDA to correct to price levels below in black from where I expect it to rally to new all time high
MSFT expected correction and buying areaDue to a piercing candle pattern and completion of 5 wave impulsive Elliott wave pattern, I expect Microsoft to correct to price levels below in black from where I expect it to rally to new all time high
META expected correction and buying areaDue to an engulfing candle pattern and completion of 5 wave impulsive Elliott wave pattern, I expect Meta Platforms to correct to price levels below in black from where I expect it to rally to new all time high
GOOGL expected correction and buying areaDue to a piercing candle pattern and completion of 5 wave impulsive Elliott wave pattern, I expect Google to correct to price levels below in black from where I expect it to rally to new all time high
AMZN expected correction and buying areaDue to a piercing candle pattern and completion of 5 wave impulsive Elliott wave pattern, I expect Amazon to correct to price levels below in black from where I expect it to rally to new all time high.
AAPL expected correction and buying areaDue to an engulfing pattern and completion of 5 wave impulsive Elliott wave pattern, I expect Apple to correct to price levels below in black from where I expect it to rally to new all time high.
