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Elliottwaveprojection

USDJPY Is Approaching Strong ResistanceUSDJPY made a sharp reversal in 2022 on a daily chart, and touched 126-130 area after BoJ policy YCC adjustment back in December. However that drop appears completed as we have seen a strong bullish reversal in the lat few months, but it's just another corrective recovery that can be now slowly approaching the end. It's ideally an A-B-C move up to 142 resistance area where we can expect a bearish turn still this year. Alternatively, this can even be W-X-Y from 127 lows, but still a corrective and temporary higher degree pause for wave B/II. A drop and turn back below 137 can be the first evidence of a top in place.
Short
by ew-forecast
Bitcoin Analysis - 2023.06.15INDEX:BTCUSD CMP: 24955 BTC has completed wave 4 (black color) - which is a triple three WXYXZ (blue color) type of correction - around 24770, which is also the top of Wave 1 (black color). - Confirmed by internal wave counts of WXYXZ. - Hourly TF shows positive RSI Divergence - Hourly TF shows early indication of MACD crossover with MACD line crossing above signal line - Hourly TF shows increased volume One can go long from here for target of 30800 - 32300 - 34600. SL should be daily close below 24800.
INDEX:BTCUSDLong
by MalayKJ
AUDNZD Is Finishing A Corrective RallyAUDNZD pair made an impulsive sell-off at the end of 2022 on a daily chart, which we see it as a wave (A). Since then, we can see it trading in a larger A-B-C corrective rally within wave (B) that can be now approaching important February highs resistance, from where we should be aware of another sell-off for a higher degree wave (C). Basic Elliott wave pattern with an impulsive five-wave 1-2-3-4-5 decline, followed by a three-wave A-B-C correction indicates for more weakness.
Short
by ew-forecast
AUD/USD: Perfect Bearish Leg!As we said in our latest analysis about FX:AUDUSD pair (see chart below), our resistance area has worked properly, and pair has triggered a bearish leg. Having said that, drop has been fast and this confirmed the resistance validity. From a technical point of view, we are now looking for a continuation or reversal pattern on intraday chart. In the next sessions, the pair could give us a clear signal, even if we already have some ideas in mind... RESISTANCE ANALYSIS (Click on Chart below) Like to support my work. Trade with care!
by TheAnonymousBanker
2
Bitcoin possible correction end When & WhereAccording to socionomics, Elliot waves can help in projecting the possible social mood of traders reflected by the price movement. We can see the possible area for the end of wave C as the potential end of wave 2 and the start of bigger wave 3. Time wise, if the 12345 wave take 61.8% of the movement and ABC correction the remaining 38.2% time, we can project the end of correction as you can see on the chart. Fun fact is that also wave 3 ended near 38.2% of the time passed from the considered time projection. We have a lot of bids on the order book of Binance (about 650 at the time of writing) around 25K, the highest since the local top. It gives a possible area for wave C to finish around 61.8% of wave A. But if it goes as much as wave A it can finish around 23K area which has the highest trading volume in case of volume profile. *** The most important point is, according to the fractal principle of Elliot wave theory, 5 waves can be considered as a bigger wave 1 and then the ABC correction as a bigger wave 2, then it can be the start of the wave 3 which is usually the strongest wave among all 5. If the new bigger wave 3 just moves as much as the wave 1 (what we saw since 15K - 30K) it can go up 100%. If you want to know more about the Elliot's wave C: Wave C is the final wave in a typical A-B-C corrective pattern according to Elliott Wave Theory. It's the wave where the price usually experiences a strong movement in the opposite direction of the primary trend. Here are some key points about Wave C: Structure: Wave C usually unfolds as a five-wave impulse sequence (1-2-3-4-5), similar to the pattern seen in the main motive phase. However, in certain cases, it can also unfold as an ending diagonal, a type of structure that is characterized by overlapping waves and tends to appear in the final move of larger patterns. Relationship to Wave A: Wave C is often related to Wave A in terms of their lengths. The most common relationship is equality, meaning Wave C is often the same length as Wave A. Other common ratios based on Fibonacci numbers include 1.618 or 0.618 times the length of Wave A. Finality: Completion of Wave C typically marks the end of the correction and a potential resumption of the primary trend. If the trend was up before the correction started, then the end of Wave C would often be a good buying opportunity and vice versa. Wave C in Expanded Flats: In the case of expanded flat corrections, Wave C moves beyond the end of Wave A. This is a situation where Wave C is an impulse wave and it extends beyond the ending point of Wave A. Characteristics: Wave C tends to be quite powerful and swift, as it represents the final move in the corrective phase and is where the previous trend's participants are finally squeezed out before the main trend resumes. Remember that the Elliott Wave Principle is a form of technical analysis based on crowd psychology and pattern recognition. As such, it's not a guaranteed prediction tool, but rather a way of understanding the structure of market movements. The actual market behavior may not always perfectly align with the principles, and it's always recommended to use it in conjunction with other forms of analysis and risk management techniques.
INDEX:BTCUSD
by NoaTrader
AUD/USD: Technical AnalysisThe technical structure on daily chart is still very interesting, our short term setup has been corrected (see chart below), but now the pair is approaching an important long term resistance around 0.6880 area. That said, we still don't rule out some bullish consolidation in short term, but once the impulsive structure on 1H chart is completed, we expect an interesting corrective structure. OUR SHORT TERM ANALYSIS SETUP Trade with care! Like 🚀 if my analysis is useful. Cheers!
by TheAnonymousBanker
6
Weekly Update: Are we in a new bull market?If you’ll remember in October of 2022 when the SPX had declined 27% since the January all-time highs. It seemed the sentiment and market news were uber bearish with back drop of the Federal Reserve hiking rates by an unprecedented .75 points at its FOMC meetings at the time . Around the December lows, we began discussing in my trading room what the sentiment of traders and the financial news media would have to be once we finally arrived in the gray target box for this corrective rally I thought would persist till summer time. I was clear, that for this forecasted subsequent c-wave down (Red Arrow on Right side of Chart), that sentiment would have to be uber bullish in our B-wave target box. What would transpire afterwards would be a decline of 30% to 40%, so a decline of this magnitude would have to catch traders off guard. Some sort of event driven catalyst. Now, many months later, to listen to CNBC, it appears we’re now in a new bull market. As an Elliottition, this type of sentiment was expected. Even required, as to what comes next. If my analysis is correct, we are soon about to embark on a c-wave decline that would eventually breach the October lows. Additionally, if I am correct, once this c-wave does conclude (around 3,000 -2700 ES), it will take at least couple years or more for price to return to the area of where we are today. So, while everyone is uber bullish, the main data point to consider is price pattern and the MACD indicator. For this entire pattern to be impulsive and give us a chance to get to new highs this would mean we’re now in a wave 3 of an impulsive trend. Wave 3’s are the strongest portion of a 5-wave impulsive trend pattern and they never take place on negative divergence . Wave 3’s persist until negative divergence is broken. If we’re to break the stark negative divergences that have held since the October bottoms (see indictor portion of the chart above) price has little room for any sustained consolidations or declines. No forecast is guaranteed. When forecasting price patterns and trader behavior, support and resistance still apply. SO, to be fair, NO KEY LEVELS OF SUPPORT HAVE BEEN BREACHED that would give us any indication we've topped, or at minimum, the rally is cracking. However, as of now, the MACD indicator is telling us that with each advance of price, we're achieving that on less and less strength. Maybe that changes soon, anything is possible...but in the absence of that, new all-time highs are simply wishful thinking.
CME_MINI:ES1!
by maikisch
1
VRA:USD Mean Reversion Targets: +120% / +500%, Algo: +3x / +80xVeracity looks set to pamp! There's multiple golden corner mean reversion trades in play with 80% odds of hitting their targets (as long as the lows hold). This Elliott wave count suggests that Verasity could be entering the most explosive wave, the 3rd with multiple algo targets above. In the past I've noticed setups like this often fail to hit the LOG targets for a 3rd wave so I have left them off this chart and am instead focusing on the higher probability mean reversion and algo targets. Key points: 2 Pitchfork mean reversion trades in play, these are the highest probability trades. Great R:R 2 algo targets in play, these are the second highest probability trades. Potential for explosive 3rd wave Expect resistance at the first pitchfork median line as the weekly resistance is also in line with this target Expect heavy resistance at order block (also contains bear golden pocket) Risk of lows being swept, re enter on a 1-2 retrace if this happens. The high level Elliott wave targets are $4 & $32, I DON'T BELIEVE THESE WILL BE HIT. The trade: Entry 1: as close to the golden pocked as possible, current price: 0.0042500 Entry 2: wait for a .618 retrace if lows are swept and price rebounds. Pitchfork Target 1: 0.008788 (moving higher): 8.7R Pitchfork Target 2: 0.25 (moving higher): 38R - THIS IS THE BEST TARGET, best odds, should play out even if this is corrective & there should be a decent retrace when this hits. Algo target 1: 0.017: 24R Algo target 2: 0.35: 647R Elliott target: 0.056: 97R Stop 1: 0.003787 Stop2: below the .707 of the swing from the new low if sweep happens Risk management: the stop loss is a significant drawdown @ about 11% so compensate for this by entering with a smaller position (risk no more than 2% of account balance for the drawdown) If given the opportunity with additional .618 retracements add to position & move stop to new .707. Take profit at targets and re enter on pullbacks. D.Y.O.R. DO NOT BLINDLY TAKE THESE TRADES. Never Trust. Verify. PLEASE DO YOUR OWN ANALYSIS. This is not financial advice. These are just my observations. Technical Analysis is not about being right, it's about increasing your odds. Be prepared to be wrong. Risk management is key. Capital preservation above all else.
Long
by TribeWriter666
6
AUDJPY: Target 1 achieved! ...and now?Our last setup was correct, the FX:AUDJPY pair completed the harmonic structure and subsequently reached our Target 1 around 93.95. Having said that, on the 1H chart we have resistance around 94.45 (swing) and then 94.95 (Target 2), and from one of these areas the pair could trigger a pullback. Unfortunately, I don't have a clear short signal at the moment, so I am waiting for some Reversal or Continuation Pattern to form. Below, you can study and analyze our latest bullish setup: Trade with care! Like 🚀 if my analysis is useful. Cheers!
by TheAnonymousBanker
2
BTC Getting Ready to DROP - Read for more info!Bitcoin could enter a strong 3rd wave down soon which would likely send the price down to as low as 20700. Due to the formation of the 5 clear waves in orange, the next major move looks like it will be a steep drop down. A good entry on the short is at the Entry prices shown below. The volume profile on the left hand side shows a significant amount of volume at the 28000 price level. This price is also at the 50% retracement of all 5 orange waves, so this would be an excellent place to enter a short position. In addition, we have the upward sloping white trend line and the 0.618 (golden ratio) retracement at 28740 which would also be an incredible place to enter a short position. The stop loss is placed at the top of orange wave (1) because if the price goes beyond this level this count becomes invalid, although this seems highly unlikely to be reached. The take profit shown below is at the price equal to 1.618 * the length of waves (1) to (5) taken from the 0.618 retracement of all 5 orange waves. This is a common ratio for price to reach during a '3rd' wave down (which this would be if it plays out). According to Elliott Wave Theory "The 3rd wave is usually the longest and strongest". Entry Prices: 28741, 28056, 27387, 26897 Stop Loss: 31085 Take Profit: 20700 Disclaimer: Not financial advice and only intended for educational purposes
BITSTAMP:BTCUSDShort
by TradewithLu
Dollar Index ($DXY): Technical Analysis$DollarIndex could trigger a 3 or 5 wave swing on daily chart, and if this happens, the first Target should be around 106/107 area. That said, the trend remains bullish and the index should be bought on any correction. The technical structure on intraday chart is also very interesting, and it might be useful to develop it in our updates below as well. FUNDAMENTAL ANALYSIS (Click & Play on Chart below) Trade with care! 🚀 Like if my analysis is useful. Cheers!
TVC:DXYLong
by TheAnonymousBanker
4
Nifty50 Day End Analysis 2023.06.06NSE:NIFTY currently into iii (pink color) of 5 (orange color) of 5 (blue color) of 3 (gray color). Wave ii (pink color) retraced wave i (pink color) by 61.8%. As Nifty is currently into Wave iii (pink color), expecting Nifty to take out the trendline (purple color - from ATH to recent high) resistance around 18650 by providing a gap-up opening tomorrow above that level (this is because in 3rd waves, critical resistances are normally taken out by having a gap-up or gap-down opening). Expecting Wave iii (pink color) to end around 18750 which is 161.8% extension of wave i (pink color). View remains invalid if Nifty closes below 18560 on hourly candle.
NSE:NIFTYLong
by MalayKJ
APPLE (AAPL) Analysis - W3 develop Save time. Technical Analysis in just a few words. Daily Timeframe. AAPL is currently developing a bigger 3rd Wave on the upside. Long term direction: LONG It looks like Wave 3 is still unfolding on the upside. A correction will come soon, then a final Wave 5 will push on the upside (probably by the end of the year). That's it. Have a nice day! DISCLAIMER: The ideas shared in this context are strictly for educational purposes and should not be considered as financial or legal advice. Each individual bears full responsibility for their own trades and decisions.
CAPITALCOM:AAPLLong
by YExplore