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VIX - Elliott Wave Illustrates a Potential Bottoming PatternI've been tracking VIX since 2020. I believe that VIX is in a bottoming pattern and will start the next leg up to a new high soon. VIX doesn't act like an equity. Mainly because it isn't an equity. Its waves don't move like an equity. It usually operates in 3-wave segments over longer timeframes whereas equities operate in both 5-wave and 3-wave segments. Elliott Wave corrective patterns move in 3-wave segments. You can see a series of these 3-wave moves on this chart leading up to the previous high in early 2022 with light red Wave A. Following that top, I expected a 3-wave corrective move back down. Instead, we've gotten a very choppy, almost Darvas Box looking structure. I've come to realize that this is actually an Elliot Wave triangle pattern (labeled with circled numbers in pink) and I am expecting a bottom in the last segment of it, pink Wave Circle e, which will finish off the light red B wave. It should then start a 5-wave pattern back up to finish off the larger degree 3-wave structure ending in light red C. I've shown some basic extension levels to help predict the landing spot. The first is a 76-100% extension of the size of the light red A wave from the expected bottom of light red Wave B (orange). The second is a 123%-161.8% (the golden ratio) extension of the pink circle d wave of our triangle from the expected bottom of pink circle e (yellow). Each of these can be correct, and they could both be correct. Alternatively, since markets are merely a battle of sentiment, VIX could land somewhere else. We are, remember, looking at a volatility index that tracks S&P options. And the S&P is in a topping pattern of some sort of a bear market bounce corrective wave. But ultimately, there are two channels I've added to illustrate why I think light red Wave C will land where and when it does. The first connects the bottom in July 2021 to the expected bottom it is currently working on, with the parallel top line connecting the top of light red Wave A to the expected landing point of light red Wave C. This channel is in green. The second channel covers the trajectory of the light red Wave A from bottom to top and then extends its parallel companion from the expected bottom that we are currently working on. That channel is in blue. Both of these channels perfectly intercept each other at a key MAJOR Elliott Wave fib level that usually indicates a C-wave end (the 100% extension of Wave A from the bottom of Wave B). And it also happens to line up with the timing that I've predicted for the next bottoming event in the S&P 500 (not shown here). Lastly, all of this lines up with the fact that RSI is clearly in a bottoming pattern on daily candles and showing a potentially oversold state. There are many calculations not shown here so as to not clog up the view. I warrant that the information created and published by me on TradingView is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors. My analysis is not a recommendation for a specific trade. -mazag08 - TastyWavez 2022
CBOE:VIXLong
by mazag08
6
ATOM accumulation is unfolding, long or short?In general longs are preferred, with one simple note though, we might sink on 10.0-9.n in the current ending diagonal, which is highly possible. I protected my long position in the wallet with a small short, because drop can be 15% from the current price. Also there's a chance that we might rocket any time soon, and ending diaogonal just becaomes a correction, though my gut feeling is telling me that it's not that simple. Good luck trader!
BINANCE:ATOMUSDShort
by nanfinance
4
Still waiting for ATOM's correction to join longsATOM and the whole crypto market now looks bullish, I'm still waiting for a complete correction to join longs. I was thinking that we might have an ending diagonal across many many charts, but now I doubt that due to many tiny details. Even for ATOM the whole movement up looks like a complete impulse wave, and if we have an impulse it can only be a wave 1 of a bigger impulse wave. In general if we cross 17.20 it's a confirmed bull run with targets 26, 35, 44 and even 51 which highly depends on fed rhetorics.
BINANCE:ATOMUSDLong
by nanfinance
3
BANDHAN BANKHelloo and welcome to this analysis In the weekly chart we can see an ABC from ATH to ATL This was followed by a diagonal which for now I have plotted as a Leading Impulse. A bearish diagonal would mean that the preceding ABC was a W and the diagonal was X. The decline after completion of the diagonal is also in the form of an ABC which could complete its path near 150. Bullish Count would then hold as LD (Wave 1/A) followed by an ABC corrective (Wave 2/B). However, if the stock makes an ATL then the bearish count will become active with current decline ABC structure being Wave Y. In either alternatives keep an eye between ATL & 150 for a possible reversal/bounce as the case maybe.
NSE:BANDHANBNK
by Dinesh_C_Nagpal
3
Bitcoin Correction over? Wave 5 Up?Good day to you! This is just a follow up from my post earlier today on the running flat wave 4 concept. Our target was hit and actually hit the 1.272. I originally planned for the 1.236. O well. Profit target was met. To be fair, I am only choosing "long" because i am not in most of my short anymore. Very small portion remains. I am not saying blind long. Look for entry signals That being said, I am looking to scale into a long here for a potential wave 5 if we see some sings of strength. This falling wedge that we have created on the wave down would be one of those because diagonals tend to enjoy going back to their origin. If ew start to make our way up, will follow up with targets for the upside. Trade safe!
COINBASE:BTCUSDLong
by HankHill_1
Potential 2:4 Divergence on Bitcoin. Look for a 5th wave up?Friends. Just an update regarding this idea. It pays to watch all timeframes. Especially with as much consolidation as we have had over the past several days. It has allowed the RSI on the daily tf to potentially create a 2:4 divergence. Meaning this could be a signal for a 5th wave to come in this move. I have alerts set for $21900 on the bybit chart to watch $21700-750. That area has been visited on the other exchanges, but not Bybit. That is important. Since this Daily tf has been taken out, I am looking at the 2/4HR RSI for signs of exhaustion in the area if given and then entry on the 15min. Trade safe friends.
COINBASE:BTCUSDLong
by HankHill_1
8