Nas100 ... An elliptical way of looking at itI thought it might be useful be provide my elliptical analysis of the NAS100 for some direction and comment.
My ellipse has modelled this quite well with several good touch points. (green dots)
Additionally I have added a Fibonacci Fan using the blue dots as the range points and providing an extension in the future.
(TradingView has yet to provide Fibonacci fans and sadly lacking in precision geometric analysis IMHO)
I ask that you provide any comments, personal insights and suggestions if you use this methodology in your trading.
Thanks for reading and I will follow up as needed.
(Note: This is log scale so you may have to rescale the Y-axis by dragging it up or down to align the red line with the blue dots... a problem with log scale and TV.)
S.
Fibonaccianalysis
$NIFTY Possible Bull Target & Reversal Zones #NiftyTraders and Investors, there is a lot of joy, speculation, excitement and nervousness in the Indian stock market as it makes another all-time high today. This however can be very deceiving or a good opportunity. Depends on how to see and interpret it. 🙂 If you think this is way too high and it should take a correction or dump then it may just give you that sort of opportunity when it reaches one of those FCP zones or extension levels ahead. If you are bullish and expect market to continue rise higher then also we have these zones and extension levels as possible bullish targets.
Remember a few things about this market:
1. It has been consolidating for a while after hitting a major reversal level as you will see in the attached idea posted on Oct 13, 2021. This can still form a double top and fall down.
2. The Nifty 50 index has been taking divergence from US Indices this year. Whilst US indices fell Nity held its position strongly. But that does not mean it can no start to follow them again. The correlations come and go in time cycles.
3. This market cab target 20K level as well because that is psychological and is getting close. In terms of points, it is still too far but in the overall price action structure it is not.
Please support this analysis by liking and sharing. 👍🙂
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums.
✅ Follow me for future ideas, trade set ups and the updates of this analysis
✅ Don't hesitate to share your ideas, comments, opinions and questions.
Take care and trade well
-Vik
____________________________________________________
📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
____________________________________________________
FTM / USDT 1D Interval We will now check the situation on FTM to USDT, first we will mark the downtrend channel in which the price has been moving for a long time, while locally we can mark the uptrend lines with yellow color.
As we can see we have a strong support zone from the seventeen cents to fifteen cents level which must hold the price to prevent it from deepening the channel, however if we go lower we can see the price around thirteen cents.
Looking the other way, we see that the first resistance is at twenty-one cents, the second at twenty-three cents, the third at twenty-four cents, and the fourth at twenty-seven cents. Only overcoming these resistances and leaving the channel upwards can open the way for greater increases.
Nevertheless, we can see that the energy is strongly charged and the makdi indicates an uptrend, and the volume is on the side of the buyers, if BTC maintains its level or starts to grow, we can see an increase in the FTM price.
BNB / USDT 1D INTERVAL, Support and ResistanceHello everyone, I invite you to a short overview of the situation of BNB to USDT on a 1-day interval. As you can see, we can boldly mark a channel in which the price moves sideways, despite the attempt to exit down and up, the price quickly returned to this channel.
Now let's move on to determining the supports and as you can see, the price is currently right at the support at the level of two hundred and ninety-two dollars, if the support is broken, we have another at the price of two hundred and seventy-six dollars, then at two hundred and sixty-three dollars and two hundred and forty-nine dollars at which once again the price has turned back.
As for the resistances that BNB needs to overcome first, we see that the first resistance is at $322, the second at $312, the third at $322 and the fourth at $329 which is close to the upper limit of our channel.
However, we can see that the energy is exhausted and despite the current decline, we remain in the local uptrend.
XRP - USDT on 1D interval Resistance and SupportHello everyone, I invite you to chart XRP in pair to USDT on a one-day time frame. Let's start by marking with the yellow lines the channel in which the price is moving and with the blue line the local uptrend line.
As we can see, the price turned around nicely around zero seventy-eight and returned to zero sixty-one.
Now let's check what current support we should consider and here we have the first support at thirty-seven cents, the second support at thirty-four cents, the third support at thirty-two cents and the fourth support at thirty-cents.
However, for the price to freely start to grow, it must overcome a strong resistance from forty-two cents to forty-six cents, only when it breaks above this area and tests it successfully, we will be able to see further increases.
It is worth mentioning that the energy on the CHOP index is strongly charged, the macdi indicator indicates that we are in the local uptrend, and on the volume, although it is small, we see the advantage of buyers.
Daily review of BTC interval 4HHello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price has broken down from the channel marked with blue lines in accordance with the analyzes from the previous days, and we can see that the price is currently trying to stay above the local downtrend line.
Let's start with setting the support line and as you can see the first support is currently at 0.5 Fibonacities around the price of $16144, if the support is broken then the next support is $15986, $15765 and $15479.
Now let's move on from the resistance line, as you can see, the price must break above $16,232 first, then we will attack the $16,346, $16,435 and $16,525 levels.
Looking at the CHOP indicator, we see that in the 4-hour interval, the energy was used for the decline as assumed, the MACD indicator also confirms the downward trend, while we see that the volume is with the advantage of sellers, but it can be seen that it has decreased significantly.
ETHThe 618% retracement level from covid crash is around $410, the impulsive 5 down off the C wave has hit all the fib levels, the 3 tested the 1.618% around $900 in June, then the 4 tested the 382% retrace level.
Then the second wave of the 4th rejected off the 618% level.
Now likely breaking down from major support at $1,200 to finish the 5th wave around $400 level. After that we can re analyze.
MATIC / USDT 1D chart Targets and StoplossHello everyone, let's look at the 1D MATIC to USDT chart. As you can see, the price is moving above the local downtrend line.
Let's start by setting goals for the near future that we can take into account:
T1 = $0.9158
T2 = $0.9619
T3 = $1.0112
T4 = $1.0759
and
T5 = $1.1616
Now let's move on to the stop loss in case the market goes down further:
SL1 = $0.8502
SL2 = $0.7964
SL3 = $0.7643
SL4 = $0.7393
and
SL5 = $0.6911
Looking at the CHOP indicator, we see that there is still a lot of energy for the next move on the 1D interval, while the MACD indicator indicates a downtrend.
Daily review of BTC interval 4HHello, I invite you to update the BTCUSDT analysis on the 4H interval, more details are included in the chart.
UNIUSDT 4H Interval- Targets and StoplossHello everyone, let's look at the 4H UNI to USDT chart as you can see that the price is moving above the local downtrend line.
Let's start by setting goals for the near future that we can take into account:
T1 = $5.63
T2 = $5.84
T3 = $6.06
T4 = $6.35
and
T5 = $6.74
Now let's move on to the stop loss in case the market goes down further:
SL1 = $5.27
SL2 = $5.04
SL3 = $4.86
SL4 = $4.67
and
SL5 = $4.41
Looking at the CHOP indicator, we see that the energy is strongly charged on the 4H interval, while the MACD indicator indicates a local uptrend.
BNB / USDT 1D INTERVAL, Support and ResistanceHello everyone, let's look at the BNB to USDT 1 day chart. As you can see, the price has moved above the downtrend line.
Let's start with the support line and as you can see the first support we should consider is $302, if the support is broken then the next support is $292, $284 and $276.
Now let's go from the resistance line, as you can see the first resistance is $319, if you manage to break it, the next resistance will be $337 and $361.
Looking at the CHOP indicator, we see that most of the energy has been used on the one-day time frame, while the MACD indicator indicates a local uptrend.
Daily review of BTC interval 4HHello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price has been moving in the sideways trend channel for a long time, but locally we see that the price is below the downtrend line.
Let's start with the support line and as you can see the first support at which the price is currently located is $16453, if the support is broken then the next support is $16226, $16045 and $15860.
Now let's go from the resistance line, as you can see the first resistance is $16671, if you manage to break it the next resistance will be $16865, $17016 and $17181.
Looking at the CHOP indicator, we see that in the 4-hour interval we have a lot of energy and be careful because it can be used to decrease the price, while the MACD indicates that the local trend has not changed to an upward one.
Chart Pattern Review | Diamond Top / Bottom ReversalDIAMOND TOP / BOTTOM:
> A trend reversal pattern indicating the end of up or downward trend - slightly off head & shoulders pattern
> Price increased and declined sharply with significant volume forming a diamond shape
> A mix of expanding and contracting triangle or wedge, often confused with a more popular head & shoulders
> Timing could range from days to months
Key characteristics:
> The price should trending downward then forming a broadening pattern.
> The price pattern increased and decreased sharply before squeezed for rebound
> Timing ranging from days-weeks-or months - a strong long-term reversal pattern
> Most trends will begin with a breakout gap and be followed by several runaway gaps.
Trading Tips:
> Price range determines the target reversal
> TP1 @ the size of the diamond extending the breakout or breakdown distance.
> TP2 can be targeted between 1.0 / 1.618 fibonanci retracement.
> TP3 @ key moving average support / resistance within extended range.
> Putting the chart together with a price oscillator like VWAP / CVD for a better early breakout or breakdown catch.
> Price oscillator can monitor the overall likelihood of a high probability trade and confirming strength/momentum as well as spotting false breakout/breakdown trades.
Always trade with affordable risk and respect your stoploss, nothing 100%
Good Luck!
Auto Fib (2): 1H Set-up exampleFrom the last publication, this is the example of how to use it in 1H of which I use the same set.
This is a possible swing position that is playable if you consider the R:R.
Entry:
I entered in between the overlapped Fibs of the small degree swing. Actually at 16k is the best bet where overlapping 0.68 lie.
Target:
1. I am looking for 17.7k (0.38 level) which is the larger degree swing retracement as 1st Target in case we continue ranging. Part of the position can be took.
2. If it breaks, I am aiming at 19K for sure and I might also try to Short it. 19K shows solid confluence of 0.38 level of the largest degree retracement and 0.618 of the second largest.
Reaction can be expected there. Thus, you may be able to find a short correction swing that can be profitable.
Stoploss:
I will stop at the lower low because it means both ranging case and bullish case is falsified and we are continuing lower with extreme bearishness.
**** However, you may use other indicators for timing entry/exit or analyzing the swings as well, i.e. RSI is very useful
Auto Fibo, how to use?This is just an idea on how should we use "Auto Fibonacci", or at least for me, with out Elliotwave. This is more of a curiosity and I find that the combination of Fibos is pretty making senses.
The concept of this auto fib is that the Pivot STD is the representation of a swing's magnitude. Thus we set it roughly in intervals and of course you will if the sweet spot for your asset.
This takes just a bit of time as small STD difference is useless.
For me I take 0.68 as the most critical spot for Fibonacci level and 0.38 for small correction but subsidiary - as a smaller degree within a trend.
The overlapping level of different STDs will be a critical resistance and support.
It can be used to assess the "trend" as well. Right now for instance, all of the fibs are drawn downward even in the least STD one, 3 STD. This means we are very "bearish".
Basically, the fib will flip when the previous high is broken.
Of course, this can be implemented in a smaller time frame as well but I choose 1D as it is visually pleasing. BTW, you may need to adjust certain STD to suit your TF esp. those with low STD in small TF. You can just close it.
MKRUSDT is a trend reversal coming?Hello everyone, I invite you to review the MKR chart against USDT on a one-day interval. Let's start with determining the direction of the movement and here we have a downtrend channel, what's more, we can mark with the yellow line the local downtrend line under which the price is currently located.
Now we will check the situation with support, which we can take into account when the price starts to fall more strongly and as you can see, we have the first support around $ 587, but if the price goes down from this support, we have the next support only at the price of $ 432.
Looking the other way, we can also check the places of resistance when the ADA price starts to rise and here we have the first resistance at $754, the second resistance at $840, the third at $911 and the fourth at $979.
It is worth noting that we had two lows, the second of which was lower than the first, and similarly, we have two highs where the second is lower than the first, but the current low, if not deepened, will be a higher low than the previous one, which could indicate a change in trend.
Looking at the lows and highs, we can expect a trend reversal to this, the CHOP index indicates that we are collecting more and more energy, and the MACD indicator also indicates that the downward trend, lasting over a month, turns into an upward trend.
ADA/USDT 1D INTERVAL - Resistance and SupportHello everyone, I invite you to a short review of the ADA chart in pair to USDT on a one-day timeframe. First, we will use the blue lines to mark the downtrend channel in which the ADA has been moving for a long time.
As you can see, we are at the bottom of our channel, so it's worth checking what support we have in the near future and as you can see, we can mark the first support at $0.29, if the support is broken, then the next support is $0.27, $0.25 and $0.23.
Similarly, it is worth checking what resistance we can expect if the price of ADA starts to grow. As you can see the first resistance is $0.32, if it is broken then the next resistance will be $0.34, $0.35 and $0.37.
Looking at the CHOP indicator, we see that in the 1-day interval, the energy begins to gain strength, and the MACD indicator indicates that we are on the verge of changing the trend to an upward one.
LTCUSDT 1D Interval - Resistance and SupportHello everyone, let's look at the LTC to USDT chart on a one-day interval. As you can see, the price is moving within the uptrend channel which we have marked with the yellow lines.
Let's start with the support line and as you can see the first support in the coming days is $73.93, if the support is broken then the next support is $70.87, $67.94 and $63.60.
Now let's go from the resistance line, as you can see the first resistance is $82.15, if you manage to break it, the next resistance will be $87.31, $91.59 and $95.90.
Looking at the CHOP indicator, we see that most of the energy has been used on the one-day interval, the MACD indicator indicates an uptrend, while because of the large volume of buyers, we now have two red candles that are much smaller.
Daily review of BTC interval 1DHello everyone, let's look at the BTC to USDT chart in the 4-hour timeframe as you can see we are moving in the downtrend channel marked with the blue lines.
As for support, we should watch BTC price behavior within the channel, as a break below the designated channel can give a quick drop to a strong support zone from $13,172 to $12,709.
On the other hand, when the price starts to rise, we can mark resistance places with green lines and in this situation, the first resistance is at $ 17,771, if the price breaks it, the next resistance is at $ 19,203 and $ 20,352.
As you can see on the one-day interval, we have a lot of energy, the MACD indicator indicates a change in the trend to an upward one, and the volume for the last two days indicates the advantage of sellers, but it is clearly low.
MATIC / USDT 4H chart Targets and StoplossHello everyone, let's look at the 4H MATIC to USDT chart as you can see that the price is moving above the local downtrend line.
Let's start by setting goals for the near future that we can take into account:
T1 = $0.8757
T2 = $0.8935
T3 = $0.9097
T4 = $0.9250
and
T5 =0.9460$
Now let's move on to the stop loss in case the market goes down further:
SL1 = $0.8421
SL2 = $0.8098
SL3 = $0.7848
SL4 = $0.7606
and
SL5 = $0.7249
Looking at the CHOP indicator, we see that the energy is heavily charged on the 4H time frame, the MACD indicator shows that it is in a local uptrend, while the volume is very low.
AAPL | 4-Wave Triangle Analysis | 5-wave Projection +50%Price action and chart pattern trading signal
> A bullish scenario 4-wave triangle with a local bullish pennant breakout in triangle formation - D-wave uptrend
> price bullish momentum SMA20 X SMA50 and MACD X baseline
> Target 5 wave @ bullish pennant pattern = 1.618 extension of current 4-wave +50++% from expected E-wave support line.
> Stoploss @ C or A wave position -10%
> Risk reward ratio: 5:1
Always trade with affordable risk and respect your stoploss, nothing 100%.
SOL - USDT 4HChart, targets and stoplossHello everyone, let's take a look at the 4H SOL to USDT chart as you can see that it has moved above the downtrend line.
Let's start by setting goals for the near future that we can take into account:
T1 - $14.78
T2 - $15.38
T3 - $15.84
T4 - $16.28
and
T5 - $16.99
Now let's move on to the stop loss in case the market goes down further:
SL1 - $13.96
SL2 - $13.34
SL3 - $12.84
SL4 - $12.37
and
SL5 - $11.66
Looking at the CHOP indicator, we see that the energy is exhausted on the 4H interval, while the MACD indicator indicates a local uptrend.
Daily review of BTC interval 4HHello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price has been moving in a sideways trend channel for a long time.
Let's start with the support line and as you can see the first support in the next hours is $16449, if the support is broken then the next support is $16225, $16041 and $15852.
Now let's move to the resistance line, as you can see the first resistance is $16774, if the price goes up from the first resistance, the next resistance will be $16968, $17122 and $17282.
Looking at the CHOP indicator, we see that most of the energy has been used in the 4-hour interval, the MACD indicator indicates that we are maintaining a local uptrend, while the volume is very small and we see a slight advantage of sellers over the last hours.
