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Wave2

Elliot waves meets Fibonacci [Educational]Hello everyone, today I like to share how I use elliot waves combined with fibonacci to analyze the market. The standard rules are: - Wave 2 can now be lower then the start of wave 1 - Wave 3 should be the longest - Wave 4 should not breach the high of wave 1 But to have a more objective view there are also price targets to be reached within the different waves. It's a complex subject to show in one chart, so feel free to ask in the comment section if you have any questions.
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BITFINEX:BTCUSDEducation
by Kyrean
4
Is this trying to form the impulse for 3rd?Hello everyone, I've recently analyzed Lux Industries' stock chart using Elliott Wave theory, and I'd like to share my findings with you. On March 31, 2023, the stock reached a low of 1111, which appears to mark the end of wave 2. Since hitting that low, the stock has initiated a minute wave 1 and is currently in the process of forming wave 2 of minute degree. One interesting observation is that during this process, the stock created an ending diagonal pattern at the bottom, which is defined by a downward-sloping channel. This ending diagonal consists of five waves, with the first wave being the longest, and the third wave being smaller than the first, and the fifth wave being the smallest. This pattern is typically a sign that a correction is coming to an end. In terms of price projections, in the short term, I anticipate that Lux Industries may reach a target range of 1868 to 2243. Please keep in mind that this analysis is for informational purposes only and should not be considered as financial advice. It's always important to do your own research and consult with a financial advisor before making any investment decisions. We may or may not have position in the stock under analysis. Thank you for your attention, and please trade responsibly.
NSE:LUXINDLong
by imkhushal
1
Learning to stay ahead of market trends - 2023 & BeyondFollow my research. Learn why I expect 2023 to be a very difficult year for active traders and how you can avoid all the risks by modifying your capital allocation levels RIGHT NOW. You don't have to stand in front of a freight train or try to force trades when they are not opportunistic. You could just wait for the better setup in July/Aug 2023 and ride out Wave-3. Do you want to gain profits or just try to gamble your capital away? Sure, if you are a day trader, you may be able to trade some of the bigger price swings over the next 5+ months. But, most of the price action is going to be in ETFs and select US stock sectors. Learn to position your trades to capitalize when opportunities are the RICHEST for success. Wave-1 has nearly ended. You are trying to catch the last 5% to 7%+ of an uptrend before the US markets will slide into a Wave-2 correction. Are you sure you want to risk a boatload of capital at the end of Wave-1 right now? Knowing when to trade is important. Knowing when NOT to trade is even more important. Make sure you are getting reliable information, content, and research. Trading is not about trying to be the next zero-Billionaire in 25 days - it is about surviving and growing your accounts over the next 5 to 10+ year efficiently. Follow my research.
AMEX:SPYEducation
by BradMatheny