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Long-correction

Super Micro Computer (SMCI): Time to buy in after a -70% drop!Since our first analysis a while ago, we've been inching closer and closer to our target area on $SMCI. Since then, we've seen a price drop of 40%, which is far from irrelevant, with the stock retracing nearly 70% from its peak. We're witnessing a clear and recurring pattern here—what we call the "staircase to hell." Each push to a level has been met with rejection, which is exactly why we see a buying opportunity forming. We are now making our first bid here as a market entry. This is intended to be a swing trade that we plan to carry into 2025, with a target of reaching previous highs again. Therefore, we're not worried about getting a "perfect" entry within 1-2% but instead setting a DCA bid a bit lower for an optimal position if NASDAQ:SMCI comes down further. Below the market entry, there's an important Fibonacci cluster that combines the 200% target of Wave C, the 78.6% retracement of Wave (2), and a target for Wave ((v)), all aligning well. With these multiple levels coinciding, there's a strong possibility we will see the price reach this zone. If so, we’ll place another bid to buy more shares. If NASDAQ:SMCI manages to flip the first resistance, we expect it to move up quickly. As we always say, patience is the key to successful swing trading—don’t let greed or fear cloud your decisions 🤝.
NASDAQ:SMCILong
by freeguy_by_wmc
10
Silver (XAGUSD): Anticipating a Wave 4 CorrectionSince our entry at $26.31, silver has experienced a significant rally, reaching up to $32.50. We anticipate a correction downward to form a Wave 4. The recent rise to $32.50 indicates a strong upward movement, but now a correction is expected. We expect silver to correct downward into the 38.2% to 50% retracement zone before continuing its upward trend. Our strategy involves maintaining our current stop-loss level without adjustment while allowing the market to correct. We have already secured some profits, reducing our risk. We are targeting the 38.2% to 50% Fibonacci retracement zone for potential re-entry, which will likely provide a strong support area for the next upward movement.
OANDA:XAGUSDLong
by freeguy_by_wmc
HelenP. I Euro will small correct, after which continue to growHi folks today I'm prepared for you Euro analytics. A not long time ago price reached the 1.0825 support level, which coincided with the support zone and soon broke it. After this movement, the Euro made a strong impulse up to the 1.1000 resistance level, which coincided with the resistance zone, but at once rebounded and made correction. Then the price continued to move up and rose to the 1.1000 level again, but this time the Euro broke it and rose to the trend line. Next, the price rebounded from the trend line and made an impulse down, breaking the resistance level one more time, after which EUR rose to this level and then continued to decline near the trend line. As well, the price formed a wedge pattern, where the price fell to the support level, after which it rebounded and made an impulse up, exiting from this pattern and breaking the trend line. At the moment, the price continues to move up and I expect that the Euro will make a small correction, after which the price will turn around and continue to grow to the 1.10000 resistance level, which is my target. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
2
META (1W) - Short term Correction UPwards. Wave B coming ? Heloo Traders and all kinds of Speculators :), Today i got interested into META ( Facebook) which lost around 65% from its ATH. You can see that chart forms something similar to Falling wedge or Ending diagonal within wave (v) of A. If so, we could reach a support ideally at 125usd. (or range between 130-110usd). From where corrective wave UP could begin. With possibility to gain +50 to +75%. Sell zone is between 190-230 USD. For such move the entire market should enter another bear market rally and a lot of Positive news (Temporarily). At price around 125USD ... the P/E Ratio will be 10,5 which is very tempting for company like Facebook. Consider your Risk : Reward ratio. Hopefully no Long-term investor will take this chart too serious for some significant position. (It could be but i think another wave C will come)... Take care and trade safe. ;)
NASDAQ:METALong
by LongevityContrarian
TROUBLE: In a land down under!The Aussies are in trouble but they may not know it as yet. Caution : this is not a prediction that the AUS200 is about to crash, or will crash. All observations and comment are based on this snapshot in time. Next week this analysis may be irrelevant if the picture changes dramatically. Features on the chart: 1 - A clear sign of rebellion after panic selling. 2 - The rebellion is actually weak, in technical terms. 3 - The retracement up into 61.8 fib was unsurprising. 4 - Price struggled in the first (lower) zone of congestion. 5- Price was rejected twice from the second (higher) zone of congestion. 6. Price remains under the Daily ATR (amber line) - which represents a big change in sentiment at a macro-economic level. I don't trade daily time frames, as they take too long to deliver and they are too risky for me. I would go long and short in a daily time frame bull or bear market on much lower time frames e.g. 3 to 15 min (which in trend following cant take days to complete). Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
A
by Captain_Walker
2
AMD Update ! Possible End of Correction ! Long to 189 USD!AMD is still strongly bullish stock. It can reach to 189 or even above 200 targets at the end of usual wave structure ! Why I used the word " USUAL " ? because there are some alternative major and minor valid wave counts. What I propose here is the one I suppose to be the most probable !. If true! the correction of labeled wave iv (circled) is finished yesterday or we are very close to the end of correction! See? Here there are again two possiblies ! However, there is no much difference between them ! just a minor difference ! Two correction possibilities are shown on the chart and I will explain them later in this publication. In the next bull run AMD is going to complete the final leg up ( circled wave v) of the wave cycle which labeled as wave 3 around 189 USD . This target is obtained by confluence of 0.618 Projection of circled i-iii waves from base of circled wave iv and 1.618 extension of circled wave iv from top of circled wave iii and also top of parallel channel ! If market choose our predicted path , It will be at our target at the time of next Earning Report ! Top of channel Break out and make a path for eve higher targets and make us to provide a major update? or lower than expectations ER and starting a decline as predicted? Too soon to judge but we certainly follow! Stochastic is in oversold zone and making a bullish cross which can support our idea well. Labeled circled wave iv correction can be traced beautifully inside a minor down going channel. Price reacted to base of this channel well and strongly however, there is possibility to hit it one more time to complete the alternate correction scenario ! What are alternative correction scenarios ? 1. First is double zigzag . in this case our proposed correction is already finished and the bull run is started. 2. Second is regular flat correction . In this case one more tiny leg down is expected which can be just a shadow below yesterday low to complete the final wave c structure . 3. Third is triple three correction which is still possible but it is too soon to talk about. As you see Elliott Practicing is art of dealing with possibilities not certainties ! I will publish an educational idea on the subject soon. All in All , I am strongly bullish on AMD, any other possibility may deviate from our bullish scenario in short term but in mid term as I previously emphasized all scenarios suggest very high targets. please do not hesitate to ask any questions if it is needed. Good luck my friends and wish you considerable profits.
NASDAQ:AMDLong
by SaeedSajedi
7
GBPNZD Expect Bounce UpwardWelcome back! Here's an analysis of this pair! COMMENT BELOW and let us know your thoughts or questions! ** We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Long
by BKTradingAcademy
6