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Elliotwaveanalysis

SBI to INR 600 again?A 5-wave impulsive rise was spotted in SBIN beginning on 26Oct and ending on 16Nov.The stock moved 8% during this impulse. The correction that began on 16 Nov was quite steep and swift forcing the stock to give up on 70% of the gains it made during 'wave i' phase. Now, however after having completed the correction the stock is set to move up again in 'wave iii' phase. The projected length of this wave suggests that the stock could soon be at the INR 600 mark. As of now the low of 555 is being considered as important reversal point and being considered for 'SL'. Note*- The views expressed here are absolutely based on personal opinions &observations. Please do your own research before making any trading/investing decisions.
NSE:SBINLong
by neeraj_2_sharma
4
Bitcoin Ready To Break Higher On Thanksgiving DayCryptocurrencies are in uptrend for the last few weeks, a move that even accelerated at the end of October and start of November when US yields turned down, which is supported for the cryptocurrencies as the dollar turned down. In fact, US yields are looking toppy after the latest US CPI data, meaning more weakness can be bearish for USD and supportive for the BTCUSD at the same time. Looking at the Bitcoin, there is a nice ongoing triangle pattern here in wave four which is about to break, maybe a volatile session will still show up on thin liquidity due to the Thanksgiving holidays. But normally breaks during holidays may not hold for a long time, which also makes sense from Elliott wave terms as the next leg higher can be the fifth wave, out of a triangle. So a final leg within a bullish impulse that can face some resistance later on at 40k area. S if you are long, maybe you may consider to make tighter stops on the next push up. On the other-hand, if I am wrong and if price will break 35600 swing support from this week, then pullback will be lower and more complex but still correction. In such case deeper supports to watch for a bounce can be at 34k followed by 32k. Trade well, and if you are celebrating I wish you a happy Thanksgiving. Grega
BITFINEX:BTCUSDLong
by ew-forecast
GOLD_ Wave 3The commodities are all set to rise with DXY going into downtrend. Gold like others had also displayed impulsive wave 1 structure and was undergoing wave 2 correction. The correction was an Elliot wave zig zag and the bottom of this ABC correction was formed on 13Nov.The correction achieved a 38.2% retracement of the Wave 1 rise. The wave 3 is now unfolding(keep in mind third waves are most often than not, the strongest among all 5 waves and longest). $2140 is projected target for wave 3. Note*- this chart is for educational purpose only.
TVC:GOLDLong
by neeraj_2_sharma
BTC/USDTP (1D) - LongElliott Wave on the Daily looks to be playing out - has been for a while. TPs = My Wave-5 "area" (3 x dotted blue price markers). No timeline, but I may update the post with one later. Price just needs to stay within the Elliott Wave range. Invalidation = high volume close below wave-1. Invalidation = Wave-5 has already hit, giving an ABC correction down to the red 1.618 marker (or even lower). This has been playing out for ages on the Daily so I'm pretty bullish to at least 36K. Let's see.
Long
by dimuthj
2
XRP Ripple: A Rollercoaster Ride Ahead! CRYPTOCAP:XRP BINANCE:XRPUSDT.P XRP Ripple: A Rollercoaster Ride Ahead! 🎢🚀📉 Attention, crypto enthusiasts and traders! As we dissect the charts of XRP Ripple, a fascinating pattern emerges, hinting at a significant market movement. After its impending retracement, XRP is poised for a notable surge, potentially offering lucrative opportunities for the astute trader. However, it's not all clear skies and smooth sailing. The rise we anticipate could well be the precursor to a more extensive, cycle-degree bear market. This shift in market dynamics calls for a strategic approach to trading XRP Ripple. For those invested in or considering a position in XRP, now is the time to stay extra vigilant. The expected upswing could be your chance to capitalize, but it's crucial to remain aware of the potential downturn that might follow. In the crypto market, volatility is a constant companion, and XRP Ripple is no exception. The projected bear cycle, while challenging, is a natural ebb in the ever-fluctuating world of cryptocurrencies. To navigate these turbulent waters, keep an eye on key technical indicators and market news. Consider leveraging this upcoming rise, but also prepare for the longer-term bearish phase. As always, risk management and a well-thought-out exit strategy will be key to your success. Stay ahead of the curve, and let's make the most of these dynamic market phases!
by MaestroAI
🔴 META PLATFORM: Daily Technical Analysis & SetupHi Traders! From a technical point of view, NASDAQ:META is very interesting for Day Traders, but at the same time it could also give some opportunities to Aggressive Traders (Intraday) in short term. Having said that, if we look at Daily Chart the trend is bullish in mid-long term, but in the short term we do not exclude a bearish consolidation before another rally. For Day Traders Setup is very simple, wait for pullback to take long position as shown on the chart. Money Management also seems interesting, with a risk of 2% we get a Risk/Return Ratio > 1:8 (not bad). 🔴 INTRADAY ANALYSIS How can we get to our Setup Area? ============================== Now we need to understand how META could reach our Setup Area, and it could do so simply in two ways: with a bullish scenario (Top and Impulsive Structure still in play) or with a bearish scenario (ABC Pattern in play), as shown on two chart below. Both of these two scenarios should be able to reach our setup area on the daily chart: Trade with care Like | Share | Comment
NASDAQ:METALong
by TheAnonymousBanker
5
Above 459 we go up to new highs, below high chance we see $400We're getting alternation between an almost indistinguishable wave 2 and this current wave 4. However, if we breach 459, then we have declined lower than .50% of wave 2 and 3, and although we have NO overlap, the chances are high we are no longer dealing with a wave 4. Therefore I will keep this simple, above 459 and we go higher to complete this larger pattern. Below 459 and I'm 75%/25% on price heading to 400 in a larger wave 4 flat.
NASDAQ:NVDA
by maikisch