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Zigzagcorrrection

#ETH seems like is ready for the upside moveAs visible in the chart, we have a well-established bullish trend and market structure in the daily timeframe chart of ETH. Following the formation of a top on March 12th, 2024, the price initiated a corrective bearish move, corresponding to an ABC zigzag correction and retracing approximately 61.8% from the previous bullish move. Furthermore, the price has also reached a bullish trendline, which could act as static support. Additionally, tomorrow, on April 19th, we have the halving event, which has historically brought buying pressure to ETH. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
How to Fleece Retail Investors 101: The Great ZigZagThe Great Fleecing of novices and fools continues. First, a massive year-long rally was permitted to run its course all through 2021, price climbed inexorably higher and higher to astronomic regions. Euphoria was universal. Stonks only go up! No time for Puts! gOgOgO!! Bulls made money. Second, came the Wyckoff distribution we have seen all year long in 2022, right to the last trading session; Santa didn't come. Bears made money. Now, come Phase 3. All retail is bearish; no one expects price to rise; therefore it will. All your poots will melt and shorts dwindle, bear shares will be destroyed when price rises and time decay eats them away as a mighty bear flag unfurls. Retail investors will perk up and load more stonks because; A Golden Cross is forming; "The Bull Market is Back! Yay!" VIX will get crushed, and Bears will lose all or most of their money. Then comes the bitter surprise... a Zig-Zag correction of monster proportions with a double bottom. Bulls will lose all or most of their money and bears will be out of cash from their massive losses on the bear flag unfurling. By EOY 2023, no one will have any money left. Then the cycle begins anew!
TVC:SPX
by DaddySawbucks
19
📉📈 ZigZag IndicatorZigZag's primary goal is to focus on significant swings and trends by removing insignificant and misleading price changes. ZigZag connects the price's highest and lowest points using straight lines while ignoring minor swings. ZigZag just aims to make sense of the market's previous movements; it makes no attempt to predict the price of an item. It is only based on hindsight and is not predictive in any way. It is based on the past prices of securities and cannot forecast the next swing highs and swing lows. 🟢Advantages It eliminates market noise and displays the most significant price fluctuations. It operates in several timeframes. When utilized in cooperation with other technical indicators, it gives positive results. 🔴Disadvantages It will mark the latest high or low of the price with a time lag. The last stretch of the indicator (the one that involves the current price) may be redrawn. Not predictive in any way, has to be used in combination of other strategies to be effective. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work , Please like, comment and follow
Education
by QuantVue
NVDA, now has a fresh low as was predicted.! whats next?I warned about a very strong bull trap in NVDA on 28th July and now the stock has a fresh low. ! As discussed in previous idea , inverted flats in bear market are among the most difficult patterns to recognize. Lets review published idea first : Now, What is next? As shown on the chart , a zigzag correction is most likely forming in NVDA and the stock is currently in wave 5 of A of an ABC form of correction. Two suggested supports are shown on the chart by green lines. These lines coincide with 0.382 and 0.618 Fibo projection of wave 1-3 from top of wave 4 which are typical for end of wave 5. Suggested wave A which is (most probably) just the first large leg of correction will probably end at these supports. This means that stock may show a considerable counter trend correction (wave B) and a resumption of down trend (Wave C ) after that. It may take 12 to 18 months from now for completion of large degree ABC zigzag form of correction. Picture inserted in the chart was captured from a very useful book written by Frost and Prechter titled : "Elliott wave principle key to market behavior " chapter 1, figures 1.22 and 1.23. As we can see current chart beautifully resembles text book example. Please note this analysis may need update in future since corrective waves may take some complicated forms . Should it need any update, we can do it later. I hope this analysis to be useful and wish you all the best.
NASDAQ:NVDA
by SaeedSajedi
15
TSLA - ABC CORRECTIVE WAVE$TSLA, From reaching the all time high of 1,243.07, Tesla creates and nearly completing a good one example of Elliott corrective wave or Zigzag. In Zigzag rules: Zigzag is subdivided into 3 waves which subdivided into 5-3-5 waves. Wave B never moves beyond the start of wave A, wave A and C is subdivided into an impulsive or diagonal, and wave B is subdivided into three waves, a triangle, or a combination. This correction wave could be close the gap and reach the 840 Level and can be considered a healthy pullback with declining of volume and forming a bullish chart pattern. This pull back has a potential to reverse the short term trend upside.
NASDAQ:TSLA
by Damako
Zig-Zag Path to ATH?Just an idea. Every correction has been a zig-zag since 2015. Last year the zag came in late October. Cycle this year seems to lag a week behind. Time bars suggest this rally maybe near end move. Not saying that gap at 360 will fill, just that it might fill, it's a price magnet TBS. Price could consolidate and pivot again anywhere between. Some kind of pullback is likely in next week to ten days IMO. Gone overbought, had some rough news, gapped down and closed that gap; Expect further selling soon IMO. Been wrong once before, this is definitely not advice, DDD, GLTA!
NASDAQ:QQQShort
by DaddySawbucks
11
Zig-Zagging?!Every correction since 2015 has zig-zagged. Going again? IDK, but eerily close to dates, peaked on 12, sold to 28 Oct 2020. This one is running a week behind, looks like we peaked 10/21; to confirm on Fri 10/22, ERs tanking FB, SNAP, INTC techs overnight; if double top is in, might expect weakness until ~5 Nov, if the zigzag pattern repeats. Bull trap?! Not saying that it will, just something to think real hard about before you go plunging long IMO... at insanely overbought RSI; GLTA! This is not only not advice, there is no position indicated and no strategy (not short, definitely not long!); just pure tutorial, enjoy! PS the overlay is Sep/Oct 2020, amazing how it fits, even the little retracements on 21-24 Sep and 11-13 Oct are precisely timed...!
TVC:SPX
by DaddySawbucks
7
Bitcoin Analyze_Road Map🗺️(Update)!!!Hi, We saw an amazing dump yesterday, I expected this movement from before, and finally, it happened. what will happen for Bitcoin ? for answering the question, I decided to update the road map that I published on Aug 14 , the topic was '' Bitcoin Analyze (Road Map) !!!🗺️''. Bitcoin Analyze ( BTCUSDT ) Timeframe 8h ⏰ Location 🌊: Bitcoin's Correction has started at around 64200$ . Bitcoin was able to pass the First Main wave of Correction ( Main wave A ) at 28805$ . Wave A had 5 microwaves, so we have to wait for seeing ZigZag (5-3-5) Correction (I am believing that corrective structure hasn't ended). We passed Main wave B by that dump + The price broke our important uptrend line (verification). Now, we are sure about starting Main Wave C (90%). The Main wave C hast to have 5 microwaves that they can run on regular 5 impulsive waves (Scenario 1 ) or even run in ending Diagonal Triangle( Scenario 2 ). If Scenario 1 happens, we can see 3 0000$ - 28800$ until the end of the year (even less). if Scenario 2 happens, we will not see very low prices, (probably around 37600$ ). I tried to show you the end of each microwave, let's see where are end of them? (a little hard to predict for now, but I try my luck 😉) where is the end of microwave 1 of Main Wave C? Taregts🎯: 44400$ until 42850$ where is the end of microwave 2 of Main Wave C? Targets🎯: around 46600$ //around 47800$ // around 48914$ // even around 51540$ ( Low possible ) where is the end of microwave 3 of Main Wave C? Targets🎯: 37600$ until 30800$ where is the end of microwave 4 of Main Wave C? Targets🎯: 37800$ until 34200$ where is the end of microwave 5 of Main Wave C? Targets🎯: 30600$ until 28800$ or even less than these. Note : Over 53000$ my counting waves will fail and probably we are on new 5 impulsive waves for reaching new ATH. ❗️ Sign ❗️: if you remember that when we were at around 36000$ , Bitcoin touched 48168$ on BITCOIN / TETHERUS PERPETUAL FUTURES , and finally price arrived itself to this amount, yesterday we saw the same happens, and Bitcoin dropped down from 52000$ to 42800$ , probably Bitcoin will arrive at 42850$ again👇https://www.tradingview.com/x/0DMkFLmW/ Thanks for reading this post, I hope that is useful for all.🌹🙏 My Suggestion : if you have coins, you have to think about taking profits especially on the end of microwave 2 of Main wave C / if you don't have coins, Don't be FOMO , probably time will give you another chance 👍😉. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like' ✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe
by pejman_zwin
26
QQQ: Triple Zig-Zag corrections on path to 405 ATH?!We had two zig-zags, in Sep/Oct and Mar/May. These lasting 2-3 months. Bull waves after lasting 3 months, gaining ~60+ pips. This rally is near exhaustion IMO. Expect correction on/about 7 September after Labor Day. 3 Sep likely a new ATH. Most ATHs DO OCCUR IN SEPTEMBER! That said, Ka-Powell speaks this week, Fed meets, Treasuries look like headed for inversion. Death cross in T-bills came over wires today. Entering some shorts, not whole hog yet. Bear put spreads and vertical call credit spreads. NB: Low price of 2nd zig-zag just touched prior ATH (March low tapped September high); if pattern recurs, projected low ~342 in September. Notice how thin the volume gets at these stratospheric prices! Not many buyers up here... but it creeps higher nonetheless! VERY RISKY ATM! Trade at ur own risk; maybe better to go fishing and hit the beach instead! Risk-free activities encouraged! GLTA!!
NASDAQ:QQQShort
by DaddySawbucks
2
NIFTY WILL CORRECT UPTO11300Using my vast experience in Elliot wave labelling, I charted a super cycle count for NIFTY INDEX. NIFTY Completed its 5 legged 3rd wave and extended its ''B'' Wave recovery(Running flat correction)to16700 A five legged wave 'C' of WAVE ''4'' will bring the index to minimum 38.2% to 11300 before April 22 and oscillate up and down till July24 We have more time to resume 5 th wave ,which will make you richer again to 25000 NOW its time to play with bears
NSE:NIFTYEducation
by selvamB
7