Elliottician

Elliottician

Expanding triangle in formation. This is a daily chart and a relatively long term trade.

Elliottician

The next C wave correction is about to begin.

Elliottician

The wave counts clearly indicate what might be about to happen to IBM.

Elliottician

If the level of 34.62 is broken, the stock is going to plummet very fast to 34.10 levels.

Elliottician

r:r ratio of 5:1

Elliottician

As posted in my previous chart. I discussed that we are in a bearish cycle of the Crude Oil market. Since prices are reacting to a region of multiple fibonacci retracements, I believe that we may see a downward movement.

Elliottician

The wave 2 seems to have retraced 50% of wave 1 and has a chance of going straight upto the target. The risk is extremely low and as always with all trades, the success rate can only be 50%.

Elliottician

A five wave ending diagonal appears to have been finished in Crude Oil. We can now expect a retracement at least by 31.8% for the formation of wave B(or 2). Take any opportunity which presents itself to take short positions. It's a very simple idea. Trade well.

Elliottician

The long and choppy wave 2 could justify the 0.236 retracement for the position of wave 4. Nevertheless, the bull market in the long term for Australia is not yet over in my personal opinion. Cases for the bull market: 1) Wave 1 equals wave 3. This can take 3 possibilities. Firstly, wave 1 and 3 are just wave A and C of a major wave 1, which suggests we may...

Elliottician

The weekly charts suggest a breakout for AT&T is in the offing. When we scroll down to the 15 min charts, the evidence that the five wave to the upside(the beginning wave 1 of the upside) and the three wave correction(wave c = 1.318*wave a) appears complete. If we see any positive bounceback at the support levels indicated by the boxes, be positive enough to take...

Elliottician

On May 5th, I had advised my viewers that any break of 8145 levels will lead to the market tumbling down. I have to assure that them the bear market has continued once again. The reason for the bear market is not because of weak economic data(ignore some ndtv 'expert' who tells you that). Our economy is not getting weaker. The bearishness is because of human...

Elliottician

The analysis suggests that we are in the bullish third wave. The third wave will go on till 2230 being the next target. Any resistance shown at 2230 will bring the price down to 1629.36 and form a fourth wave. Final Conclusion: Go long till 2230 is met and watch the prices closely. If the prices break above, I will be posting charts showing the next targets. If...

Elliottician

If you had referred to my previous idea-- , you would've noticed that NIFTY moved exactly as speculated. When I was analyzing individual stocks today, I could see most blue chip stocks getting ready for a bullish move. I came back and studied the wave count of Nifty. As expected, I found the price to be at a 0.236 retracement level from wave 0. I can suggest my...

Elliottician

LAST FIFTH WAVE LEG IN THE OFFING.

Elliottician

The last leg of the downmove has begun now and the exact target is 80.83 from the current level. The risk reward raio in the trade is 7.66 : 1 which makes it a very healthy trade to participate in. Trade well. Cheers.

Elliottician

It was a particularly hard wave pattern to analyze with the corrective wave 4 forming a diagonal triangle. Key features of this labeling : 1) Wave 3 = 1.618 * wave 1 2) Wave 4 retraced by 38.2% from the starting point. 3) In wave 5, all the minor degree waves are related to each other through fibonacci levels. This improves our case. 4) We get two targets for...

Elliottician

Frankly, I could come up with a variety of counts for the market right now. About 4 counts say that the market has reached a top and we should be ready for a minor correction till July and then prepare ourselves for a bull market again. Analyzing the expanding ending diagonal proved to be tough. We could go up to the resistance zone indicated by the box and go...

Elliottician

The wave 2 correction formed where the C wave was 1.318 times wave A. That is a classic corrective fibonacci extension ratio. So The confidence that we may have been in a correction till wave 2 is agreeable. Since then we have seen a 3 wave move to the downside suggesting that it is an A wave formation. We can see prices go up in a very fast way (Since wave (i)...