AUDUSD LongAUDUSD completed ABC and as per rtm also it reached the origin Swap FL. harmonic made deep crab. Now its time for a upside reversal.
Lskink
Nifty near to complete correction and at LS KinkNifty is near to complete correction or major B and as per price action also price reached at origin LS Kink. this whole up move is just a correction of previous fall (A) already nifty completed it 5th wave with ending diagonal and this whole correction of ABC is due. Now it looks like B is completed and C will start and it will ne sharp fall as A .
Banknifty Bearish 🐻Wolfewave with Bearish Bat 🦇Bank Nifty Analysis: A Confluence of Bearish Signals Across Timeframes
Our in-depth analysis of Bank Nifty across various timeframes reveals a compelling collection of bearish indicators, suggesting a cautious approach for investors. Among these, the Bearish Wolfe Wave patterns on both weekly and H4 charts stand out, alongside the activation of the Bat Action Magnet Move (BAMM), pointing towards a potential downward trajectory.
Key Technical Observations:
Bearish Wolfe Wave Patterns: The identification of Bearish Wolfe Wave formations in both the weekly and H4 timeframes suggests an imminent reversal from the current bullish trend to a bearish trend.
Bat Action Magnet Move (BAMM): This phenomenon indicates that the price is gravitating towards a significant level of resistance, potentially marking a pivotal turning point for Bank Nifty.
Proximity to Resistance Levels: The price is nearing a critical juncture as identified by Read the Market (RTM) analysis, specifically the Left Shoulder (LS) Kink, which aligns with a Maximum Pain Level (MPL) and a Minor Flag Limit (FL). This cluster of resistance reinforces the bearish sentiment.
Anticipation of New Supply Formation: Although bearish indicators are prominent, the formation of a new supply zone is eagerly awaited. Predictions suggest a brief upward movement towards the BAT Pattern Recognition Zone (PRZ) and LS Kink, where new supply could emerge, setting the stage for a significant downturn.
Elliott Wave Analysis: From an Elliott Wave perspective, the market is currently in a correction phase, with an expected follow-up of an impulsive decline mirroring the previous impulsive fall labeled as "A". This symmetry supports the forecast of a downturn, where "A" equals "C" in magnitude.
Observation on Divergence: The current analysis notes the absence of strong divergence signals. This lack suggests that, despite the bearish outlook, traders might benefit from awaiting more robust divergence indications before positioning themselves.
Conclusion :
The aggregation of technical indicators, including Wolfe Wave patterns, BAMM, and resistance confluences, directs us towards a bearish forecast for Bank Nifty. However, a strategic pause is advised until the formation of a new supply zone and the emergence of stronger divergence signals are observed. This cautious stance will enable investors to make informed decisions, leveraging the detailed insights provided by this analysis.
Visual Analysis Links:
Daily Timeframe Analysis
M15 Timeframe Analysis
Crudeoil - Diamond setup and minor 2nd wave CorrectionCrudeoil tested LS Kink wiith 3Drive and Failed QM followed by Stacked RS. Lower side LS KInk already tested at retracement of 786.but 2nd wave looks like isint completed . one more fall expected before starting 3rd long wave.
TVSMOTOR near to demand on left shoulderTVSNOTORS broken MS and retrurned to demand for collecting pending orders. Demand is aligned with LS. A very potential setup with good RR trade
Wipro forming bearish GartleyWipro forming bearish Gartley and prz is at hidden base which is aligned with left shoulder, in RTM terms we call it LS kink , Also known as Quasimodo/QM , Remember only short when we get a swap in atleast 5 min timeframe,
