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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
1
Dixon Technologies Share Price Movements with Wave TheorySynopsis of Dixon Technologies Share Price Movements with Wave Theory Correlation The share price of Dixon Technologies has demonstrated significant fluctuations and growth over the past few years, aligning with the principles of Elliott Wave Theory. This theory suggests that market prices move in predictable wave patterns, typically consisting of five major waves followed by three corrective waves. Miner Waves Analysis Wave 1: Date: February 2020, Price: ₹919.45 Description : This initial upward movement marks the beginning of the bullish trend. Wave 2: Date: March 2020, Price: ₹678.25 Description : A correction phase that follows the first wave, typically retracing a portion of Wave 1's gains. Wave 3: Date: March 2021, Price: ₹4267.25 Description : Often the strongest and longest wave in the Elliott Wave sequence, Wave 3 represents a significant upward move. Wave 4: Date: August 2021, Price: ₹4046.25 Description : Another corrective phase, Wave 4, generally retraces less than Wave 2. The target for Wave 4 typically aims to correct 38.2% to 50% of Wave 3, which aligns with the observed price movement. Wave 5: Date: October 2021, Price: ₹5112.05 Description : The final wave in the primary bullish trend, Wave 5, usually completes the uptrend before a larger corrective phase begins. Intermediate Waves Analysis Intermediate Wave (1): Date: October 2021, Price: ₹5112.05 Description : This wave mirrors the final leg of the miner waves, marking the beginning of a new, larger wave cycle. Intermediate Wave (2): Date: January 2023, Price: ₹2553 Description: A substantial correction that aligns with the typical Wave 2 pattern, correcting a significant portion of Wave (1). Intermediate Wave (3): Date: July 2024, Price: ₹12879 Description : Following the principles of Elliott Wave Theory, Wave (3) in the intermediate cycle is expected to be the most powerful, reflecting a strong upward movement. Intermediate Wave (4) Target: Target Price: ₹8900-₹9000 Description : Based on Elliott Wave Theory, Intermediate Wave (4) is projected to correct approximately 38.2% of Wave (3), targeting a price range of ₹8900-₹9000. Conclusion The share price movements of Dixon Technologies from February 2020 to July 2024 align well with Elliott Wave Theory. The price started at ₹919.45 and went through a series of upward and corrective waves, reflecting typical wave patterns. The miner waves demonstrated an initial uptrend followed by corrections, culminating in a peak at ₹5112.05. Subsequently, the intermediate waves exhibited a similar pattern, with a substantial correction followed by a strong upward wave, reaching ₹12879 in July 2024. The target for Intermediate Wave (4) is projected to be in the range of ₹8900-₹9000, based on a 38.2% retracement of Wave (3). This analysis confirms the applicability of wave theory to Dixon Technologies' share price movements, indicating predictable patterns in market behavior. Disclaimer It's important to note that investing in shares involves risks, and past performance is not indicative of future results. The information provided here is based on technical analysis and Elliott Wave Theory, which are tools used to analyze market trends but do not guarantee future outcomes. Investors should conduct their own research or consult with a financial advisor before making investment decisions.
NSE:DIXON
by imkhushal
Burberry may turn around soon? EW sequenceBurberry (ticker: BRBY) reaching ~14 years lows, where the risk /reward ratio for the mid/long term starting to be favourable. I have two scenarios sketched out on the weekly, white being a 5 wave up, in which we finished 3, followed by a yet unfinished irregular flat structure as a wave 4. Yellow suggests a 3 count move up as an (A) wave, working now on the (B) wave, and later (likely several years) a (C) would follow in 5 subwaves. In yellow I would primarly expect a deeper cut in the (B) wave also as an ABC structure, where we likely nearing the A wave bottom in the foreseable future. In both scenario a move-up should be imminent, white to start the wave (5) to the upside, and for the yellow it would be the B wave. For the yellow I put there the resistance levels, but be aware, as price cuts deeper (IF), then we need to adjust that red resistance fib box. Now, the movedown already consist 5 waves, so technicly we could be near to the local lows, and also in support already (hence the post). Next levels to watch: 951, 885, and 834 and 768 as bigger fib support levels. Weekly RSI is oversold despite MACD is weakening, On the daily we are building divergence already, so far all the meaningful MA's (9/21/50-52) currently rejecting price action, and far below the 200day MA.
LSE:BRBYLong
by tommtajlor
Up early Friday, well off highs at endNow that Minor wave 3 has likely ended (62 hours later), the index is well into Minor wave 4 up. We could even be nearing the end of Minute wave A. Historical data indicates Minor wave 4 could last 21-36 hours with a final top around 4350-4387. It is possible the index is already in Minuette wave 5 of Minute wave A inside of this Minor wave 4. Looks like Minuette wave 5 will last about 4 hours max and the first hour has already ended with Thursday's close. Strong model agreement of the top around 4340-4348 within the first few hours of trading on Friday. This could be achieved with a probable gap up to open, but all gains will likely be given back over the rest of the day and early hours on Monday. The final top for Minor 4 will likely be achieved next week. More analysis, data, and levels will be available by the weekend once Minute wave A has truly ended. More great insight and datastreams to come.
SP:SPX
by StockSignaler
2
Early High on Friday Followed By New Weekly Low Tomorrow?If we are in Intermediate wave 1 down, we are likely near the end of Minor wave 4 up. Here is confirmation of wave 3 of 3 with the pink bars aligning in the bottom indicator at Minute wave 3 (green) inside of Minor wave 3 (yellow): There is a chance Minor wave 4 up has finished and was only 2 hours long. While the other likely option and one pursued in this chart is that Minute wave B has likely finished or could finish near the open. If Minute wave B ended with the low from August 3rd, then wave C will likely conclude within the first 3 hours of trading on August 4th. Strongest model agreement has wave 4 lasting 6 hours which would mean the top occurs within the first hour of trading. Secondary and tertiary models point to a likely maximum length of 8 hours (the third hour of trading on August 4th). The possible reversal levels are based on the following datasets in order from most specific to current wave location to more broad datasets. Light Blue levels are possible locations of market top tomorrow Yellow is slightly less specific than light blue White is most broad dataset The muted pink color represents specific data for Minute wave 4s in Minor wave 1s in Intermediate wave 1s. Basically the high tomorrow will occur within the first or second hour of trading and not go above 4550. Most conservative zone for the top is between 4524-4536. If the high from August 3rd is not surpassed on August 4th, the market will likely head down (and is already) into the final wave 5 of Intermediate wave 1. Initial loose projection is for this near-term market bottom to occur next week. Once confirmation of Minor wave 4's endpoint is recorded, Minor wave 5 will be projected.
SP:SPXShort
by StockSignaler
6
The Market Maker PlanHello traders, Today I'm going to share with you 'my idea' about Bitcoin in weekly time frame. As we can see in the chart this crazy move on Bitcoin made every trader skeptical. Market maker needs volatility before dumping the market and as we can see before the pump the market was moving slowly and we reached the lowest volatility of all time and ofcourse it won't dump before collecting volume and liquidity. Market makers started to promote on their social media that bottom is in which is not correct in my opinion. why? Have you seen a crash without an uptrend? I don't think wave 5 is too short so I think we are still in a bear market I don't see any bull market from here, it's just normal volatility inside wave 4. and many indicators doesn't show that we reached the bottom yet. Yesterday I checked the weekly EMA because every decent investor will check it out before making any move and I found that 50 EMA has crossed with 200 EMA which is " The Death Cross ". - In my opinion wave 4 has not been ended yet but it's about to end! - The big Falling Wedge has not broken yet. - We are still in a correction and I think this is ' Running Flat Correction ' inside wave 4 where prices tends to bounce from support and resistance. #Running Flat Correction: Wave B terminates beyond the start of wave A. Wave C terminates before the end of wave A. - Wave B = 123.6% of wave A - Wave C = 61.8% - 100% of wave A I consider this time wave C will end near 21,500 - 22,000 and there I'm gonna short the market based on my strategy. Let me know in the comment down below do you think bull market has started? and why? Non of this you can use as financial advice! always do your trade based on your analysis and strategy.
Short
by aboLsis
13