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Elliottwaveprojection

AUDNZD: Bullish Leg continuation?From a technical point of view, the FX:AUDUSD pair is very interesting and attractive, especially on a lower time frame. If we look at 1H chart we see that the pair completed 12345 bearish impulse structure (or part of corrective structure) and subsequently triggered reaction from wave 5. From our point of view, it should be correct to try to take a long position on pullback with Target 1 around to 1,078. Trade with care Like | Share | Comment
Long
by TheAnonymousBanker
2
Crude Oil Is Looking For A RecoveryCrude oil is coming down now making five subwaves down from 80.00 so there can be some support not far away as higher degree corrective decline from October highs can come to an end soon. There is also a potential leading diagonal, which is a bearish structure, but still suggests that the market can stabilize a bit. RSI divergence also suggests that bears are losing strength. However, any short-term low is not confirmed, unless we see an impulsive move back above 72.60. But if you look at the current price move, we can already see price turning sharply today, which can be an indication for a higher rally.
NYMEX:CLG2024Long
by ew-forecast
#CADJPY Elliott wave analysishello dear traders and colleagues. Lets have a look at a very long term chart of CADJPY. If we want to interpret the chart using Elliott wave principle we can see from the bottom that we have completed a 5 wave impulsive bullish move (corrective wave 4 is running flat formation) and then we can see a 5 wave bearish impulsive (which also labeled as wave A). Now that the price reached the top unless we are witnessing a running flat we can expect that the bullish move as wave B is also reached its destination and from now we can wait for the wave C to be completed. Initial target would be the previous low if we assume that this large corrective formation is regular flat. For opening a position in case you want to use candle stick patterns you can wait for the weekly close and see if price formed evening star which seems possible. Other than that you can always wait for price to penetrate the previous low or perhaps triggers can be found in lower time frame and following the lower time structure. Also it should be noted that in case price close above last week high or close above resistance level this wave analysis is invalid. Please let me know if you like this kind of long term analysis.
Short
by mohemati
5
A Rocket Called Bitcoin Will Take Off SoonSince the beginning of 2023, the price of Bitcoin has risen significantly relative to other asset classes, demonstrating once again to Wall Street that “digital gold” should not be discounted even despite legal battles with FTX and Binance. Moreover, in recent weeks, we have seen strong momentum in Bitcoin, bouncing off support with ease even in the face of criticism from US Senator Elizabeth Warren, who is attempting to impose tighter restrictions on many aspects of crypto. From a technical analysis perspective, we believe that the impulse wave marked on the chart as (3) was completed on December 8, 2023. After which a corrective wave (4) began, which will end in the range of $37,800-$38,200 per BTC, which is a potential opportunity to consider opening a long position ahead of its halving in April 2024. After the end of the correction, the first stop for digital gold that we highlight is $49,500-$50,000. On a more global scale, we expect its price to reach $110,000 in 2024. What are we doing? Considering the significant decline in natural gas prices in recent months and its high reserves in the US and Europe, we believe this will also positively impact the margins of mining companies such as RIOT and HUT8. We plan to open a long position in RIOT when its price reaches $11.8-$12 per share. Show your support by liking👍, following✅, sharing🙌, and commenting✍! Feel free to share your ideas and charts below. Your engagement is crucial in spreading the word and maintaining the relevance of the content. Thanks for being an essential part of this community! Analyst’s Disclosure: This article may not take into account all the risks and catalysts for the stocks described in it. Any part of this analytical article is provided for informational purposes only, does not constitute an individual investment recommendation, investment idea, advice, offer to buy or sell securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental criteria or events change in the future, I do not assume any obligation to update this article.
BITFINEX:BTCUSDLong
by AisenQuantum
1
Bitcoin Steps Into Temproary Corrective PhaseBitcoin is coming higher this year, moving very sharply through 2023, after a period of a consolidation that has been in play since March till Avgust of this year. We can see a nice and strong rise now, with some sharp extensions above daily base channel resistance lines and 40k area, so we assume that more upside can be seen as recovery is acting like an impulse. As such, be aware of further gains within a five-wave cycle for wave (C)/(III) up to around 48k - 50k area. Looking at the 4-hour chart, we can see some slow down in last few days after Jamie Dimon comments and ahead of US CPI data. But we think it's just a wave 4 correction, where first support can be already at the EW channel support line and 40k area, but price action may stay slow then within a potential sideways bullish triangle pattern. However, ahead of US CPI and interest rate decision this week, be also aware of a deeper correction to 38k - 34k support zone, if the price breaks out of Elliott wave channel.
BITFINEX:BTCUSD
by ew-forecast
2
Tesla: Elon Musk Has A ProblemFounded in 2003 by visionary entrepreneur Elon Musk, Tesla has become a pioneer in the automotive industry. The company is one of the world's largest manufacturers of electric cars. Beyond cars, Tesla has expanded its reach into renewable energy solutions, including solar panels and energy storage products. Musk's bold vision, commitment to technological advancement, and the company's relentless pursuit of sustainability have positioned Tesla as a transformative force in the intersection of transportation and clean energy. Technical analysis After the completion of the impulse phase, marked on the chart as ①-②-③-④-⑤, the price of Tesla shares continues to move within the downward trend. We expect the share price to stabilize once it reaches $220, after which it will begin to move north to $250. Fundamental Analysis Tesla's revenue for the three months ended September 30, 2023 was $23.35 billion, up 8.9% compared to the third quarter of 2022. Author's elaboration, based on Seeking Alpha In addition to the company's margins continuing to decline, the Model S and Model X deliveries have continued to disappoint in recent quarters. Author's elaboration, based on quarterly securities reports Also, production and delivery volumes of Model 3 and Model Y, which are the cheapest in Tesla's line of cars, decreased compared to the previous quarter, which casts doubt on Musk's ability to attract new customers. Author's elaboration, based on quarterly securities reports The company's earnings per share (EPS) for the three months ended September 30, 2023 were $0.66, missing analysts' expectations of $0.07. But more importantly, this figure decreased by 37.1% compared to the previous year due to increased competition in the global electric vehicle market and lower prices for Tesla products. Author's elaboration, based on Seeking Alpha On the other hand, the company's fourth-quarter EPS is expected to be in the range of $0.55-$0.92, down 38.17% from the fourth quarter of 2023. Tesla's Non-GAAP (TTM) P/E is 65.26x, which is 361.86% higher than the sector average and 57.91% lower than the average over the past five years. The company's Non-GAAP P/E is 73.66x, indicating that it is overvalued in the current period as Chinese automakers continue to expand their presence in Europe and the United States actively. Show your support by liking👍, following✅, sharing🙌, and commenting✍! Feel free to share your ideas and charts below. Your engagement is crucial in spreading the word and maintaining the relevance of the content. Thanks for being an essential part of this community! Analyst’s Disclosure: This article may not take into account all the risks and catalysts for the stocks described in it. Any part of this analytical article is provided for informational purposes only, does not constitute an individual investment recommendation, investment idea, advice, offer to buy or sell securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental criteria or events change in the future, I do not assume any obligation to update this article.
NASDAQ:TSLAShort
by AisenQuantum
1
Bitcoin Is Breaking HigherAs expected, Bitcoin with ticker BTCUSD is breaking higher and we can see strong rise now, with some sharp extensions to 40k level. Notice that we see price in fifth wave, about we talked in our past updates when we were tracking fourth wave consolidation. Well, bitcoin is now moving out of that fourth wave now, with a strong and sharp reaction, so fifth wave can be even looking for resumption up to 43k-44k area where bulls can slow down, after five subdivisions within the current fifth wave. So as long as the market is trading above short-term 38424 invalidation level trend is up. But keep in mind that after every five waves, the cycle can change, so it can be a bit too late for any potential longs in the short-term. But longer-term trend is up, and will likely resume, especially after higher degree retracement.
BITFINEX:BTCUSDLong
by ew-forecast
🔴 META PLATFORM: Daily Technical Analysis & SetupHi Traders! From a technical point of view, NASDAQ:META is very interesting for Day Traders, but at the same time it could also give some opportunities to Aggressive Traders (Intraday) in short term. Having said that, if we look at Daily Chart the trend is bullish in mid-long term, but in the short term we do not exclude a bearish consolidation before another rally. For Day Traders Setup is very simple, wait for pullback to take long position as shown on the chart. Money Management also seems interesting, with a risk of 2% we get a Risk/Return Ratio > 1:8 (not bad). 🔴 INTRADAY ANALYSIS How can we get to our Setup Area? ============================== Now we need to understand how META could reach our Setup Area, and it could do so simply in two ways: with a bullish scenario (Top and Impulsive Structure still in play) or with a bearish scenario (ABC Pattern in play), as shown on two chart below. Both of these two scenarios should be able to reach our setup area on the daily chart: Trade with care Like | Share | Comment
NASDAQ:METALong
by TheAnonymousBanker
5
$DHI Supercycle Nearing CompletionThe stock is expected to complete its final move to Wave 5 of (V) before undergoing a significant correction, constituting a substantial correction in my view. My extended target for the upward trend is $143, with plans to consider short positions thereafter. The recent upward movement appears to be forming a rising wedge, adding to the overall wedgy appearance. The RSI shows a substantial bearish divergence since the completion of Wave III, signaling that Wave V is still underway. While the situation evolves, my current stance is to maintain a long position.
NYSE:DHIShort
by nomadhedge
2
Above 459 we go up to new highs, below high chance we see $400We're getting alternation between an almost indistinguishable wave 2 and this current wave 4. However, if we breach 459, then we have declined lower than .50% of wave 2 and 3, and although we have NO overlap, the chances are high we are no longer dealing with a wave 4. Therefore I will keep this simple, above 459 and we go higher to complete this larger pattern. Below 459 and I'm 75%/25% on price heading to 400 in a larger wave 4 flat.
NASDAQ:NVDA
by maikisch
Elliott Waves Suggests USDMXN Can Be A Nice ShortHey folks, In this article, I’ll give you an update on USDMXN, which we’ve talked about before. You probably noticed that the Mexican Peso (MXN) has been quite strong for the past couple of years, mainly because of higher interest rates compared to other places, USDMXN short was a good carry trade. However, things have started to shift a bit recently. Inflation in the US went up a bit due to rising energy costs, and some folks thought the Federal Reserve (FED) might keep a tough stance (hawkish) on monetary policy. This pushed the US Dollar higher along with yields. But now, there’s a new element in the mix – the geopolitical tension between Hamas and Israel. This situation can make the markets super jumpy and volatile. I’m not so sure if the FED can keep its hawkish stance in such a shaky environment. Keep in mind, during a conflict or war, a government might ease up on its tough policies to fund the war effort and get cheap financing. So, I’m wondering if it might be the right time to expect USDMXN to continue its downward trend. In fact, the pair has dropped this week, especially after markets opened with some gaps in various assets. From an Elliott Wave point of view, we can see a decent corrective rise from recent lows, a clear fourth wave move up to the 38.2% Fibonacci resistance. We’re seeing a turnaround from there, and if we break key rising trendline, more bears could join the party. This makes sense since the overall trend is still bearish as long as the price stays below the 2022 trendline resistance. So, I think a fifth wave down might be just around the corner, and it could happen quite quickly, especially if the US Dollar’s trend changes, which is possible if stocks would stay in risk-on mode till end of the week.
Short
by ew-forecast
Broken Trendline Keeps USDMXN In Downtrend For Wave 5Broken Trendline Keeps USDMXN In Downtrend For Wave 5 from technical point of view and by Elliott wave theory. USDMXN shorts are doing very well as we mentioned and highlighted on October 12, when we spotted a corrective recovery in wave (4). As you can see today, USDMXN turned nicely down from projected resistance and it can be headed much lower as bulls failed to break above the daily trendline resistance in October. So this was seen as a corrective and temporary bounce; wave (4), which puts wave (5) in action after broken trendline support, so weakness is ready to resume, ideally down to 16.00.
Short
by ew-forecast
4