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Elliotwaveanalysis

DALBHARAT - FRESH IMPULSE - BULLISH - LONG TERMHi Folks, Another stock with upcoming bullish momentum. Dalmia Bharat has seen a decent correctoin of more than 50% of the last impulse. After both time and price correction, RSI is cooled off on daily and weekly timeframes. Recent week showed good accumulation in data with decent volumes. There is a breakout visible from the falling wedge with RSI also breaking out and making newer high. Elliott wave analysis 1. Larger Wave 1 has an extended internal wave 3. 2. 5 wave structure is visible on the impulse. 3. 2-4 trendline has been violated and the subsequent larger wave 2 unfolded. 4. Correction in wave 2 had nested abc structure which resulted in larger WXY as marked on the chart. 5. Targets of larger wave 3 is marked with fib projections. 6. Invalidation level shall be low of wave 2. 7. Risk: Reward is very decent for long term hold. Not a buy recommendation. Please do your own due diligence.
NSE:DALBHARATLong
by KunalSaxena10
Cyclically speaking....is it time to sell stocks?Introduction Within the larger Elliott Wave community (of Elliottitions; practitioners of Elliott Wave Theory) there has been an ongoing notion, that is gaining in popular perspective, that the US stock markets are very close to entering a super cycle wave (IV)…myself included. However, from what we know of Elliott’s original work, which was based on social and economic behaviors concerning market participants, and the use of Fibonacci numbers…is when this normal cycle starts, we will not know with a high degree of certainty this is what is occurring likely until its ending. Background Ralph Nelson Elliott was an accountant by trade born the late 19th century who also studied the US Markets. Post the 1929 stock market crash, and as a reader of Charles Dow’s Customer Afternoon Letter, (which later became the basis for today’s Wall Street Journal) Elliott began to formulate the basis of Elliott Wave Theory by noticing patterns that seemingly repeated (mathematical fractals) across monthly chart timeframes, all the way down to the 30-minute increments of price action within the stock markets. He stated that the behavior of market participants was cyclical in their actions, predictable in the outcome, and therefore highly forecastable well into the future. Although Elliott Wave Theory is criticized for a multitude of reasons that I will not get into here, I can clear up this, or any criticism of the technical analysis by simply stating I use EWT everyday as a trader to make a living. If the principles largely bare out each and every day on the smaller scales, regardless of the security (as long as there is a large number of participants) it’s highly implausible they would NOT fail when applied to the very long-term charts. My Analytical Perspective From Elliott’s original work he wrote… Corrections are typically harder to identify than impulse moves. In wave A of a bear market, the fundamental news is usually still positive. Most analysts see the drop as a correction in a still-active bull market. Some technical indicators that accompany wave A include increased volume, rising implied volatility in the options markets and possibly a turn higher in open interest in related futures markets. In the above chart you'll notice I have placed a red target box in the area of where a normal a-wave would reconcile to. It is while involved in this initial decline of a super cycle wave (IV) that sort of market reaction will be reported as a deep, but common run-of-the-mill bear market that was overdue. Given the meteoric rise in stock prices, it only stands to reason that we would consolidate those. This will give credence to my suspicion that we will not know we're only just starting this long-term consolidation. What will follow next should be a very long drawn-out b-wave, that has the protentional to rally back towards the current levels (maybe slightly below). This portion of the pattern will take many years, possibly a decade. The price action will take long enough to where participants may even feel that the a-wave bear market is over, and we're now involved in another bull market cycle to new highs. This will go a long way to justifying the narrative that the previous market decline was a speed bump on the way to much higher levels now. Again, Elliott states with respect to a b-wave in general and how we could potentially view this portion of the super cycle wave (IV). Prices reverse higher, which many see as a resumption of the now long-gone bull market. Those familiar with classical technical analysis may see the peak as the right shoulder of a head and shoulders reversal pattern. The volume during wave B should be lower than in wave A. By this point, fundamentals are probably no longer improving, but they most likely have not yet turned negative. The b-wave, from bottom to top, can provide opportunities for traders for the duration as it will be a trader’s market. This is where the majority of this long term cycle will reside. The final outcome of a super cycle wave (IV) and why I state in the beginning of this article as to why we may not know this was a multi-decade super cycle wave (IV) is prices may be approaching the previous highs before we get one of two outcomes of neither are good. The first outcome is a stock market crash that could resemble it’s cyclical wave (II) but in alternating form. This would be devastating loss of wealth in a very short term period of time…whereas, the second option is a slightly more controlled decline, and although not classified as a stock market crash, will certainly feel like one as the declines will be steady, consistent and overtime versus all at once. In conclusion, could the current price action to higher levels continue to persist? Yes. I am not saying this market has topped. No key levels of support have been breached. The trajectory I am expecting is as per the below and as key levels of price action that have supported this rally are breached the pathway forecasted takes on a more standard decline based on Fibonacci retracement levels. Daily Chart Only cycle a-wave labeled. Cyclically speaking....is it time to sell stocks? I cannot answer that because the strategy of investing in the stock market depends on the person, their age, and their investment goals. These are decisions only you can make.
SP:SPXShort
by maikisch
12
$TSLA not done going higher. $320-$330 by July 24. GET LONGSo we already know that Tesla deliveries came in 9000 more than what was expected, 438,000 expected verse 447,000 that Elon Musk posted on Twitter a couple weeks ago. Last quarter earnings per share of $.47 was slightly missed, and on July 23 they’re expected $.60 per share earnings. So IMO, That could indicate that even a slight earnings beat on revenue and earnings, would propel the stock to complete wave three at 2.618 Fibonacci level. never mind, the whole Robo-taxi delay, which caused an 8% decline on Thursday along with the rest of the Big tech Nasdaq. I don’t think robotaxi is realistically a factor in their valuation just yet.
NASDAQ:TSLALong
by jgeno
3
Nvidia's Circle-b Wave StatusThere's an old analytical adage that goes..." nothing confirms price action like confirmation ". Not too helpful in the short term trading sense, but in the larger picture perspective it sure makes a lot of sense. I can make a case based on where price came into the Fibonacci Retracement zone of the .786% for corrective action that got smacked down... has topped... ...however, in a B wave, confirmation only comes with a break of the circle a-wave low down in the $117 area. Its a good start but since this chart is sooooo bullish, wait for confirmation. A break of $117 brings $1.04-109 into view MINIMUM. Best to all, Chris
NASDAQ:NVDA
by maikisch
2
GM BREWERIES - TECHNICALS plus FUNDAMENTALS - A STOCK TO INVESTINVESTMENT PICK of the year -- MONTHLY TIME FRAME BREAKOUT 🚀🚀 TECHNICAL VIEW Overall view - - Technically this stock has given a shiny breakout in Monthly Time Frame of downward sloping trendline which suggest the stock have more potential and more bias upside. Again, As per Elliot Wave theory, the stock has entered the 3rd wave which is the momentum wave in monthly timeframe. KEY POINTS (TECHNICALS) - Stock is trading All Time High - It has given breakout in monthly time frame with power pack intensity of volume - RSI (relative strength index) is above 70 in monthly as well as in weekly time frame which give momentum to the stock - Price challenging upper Bollinger band which indicated the initiation of wave 3rd LET'S TALK ABOUT FUNDAMENTALS - Company's profit and sales are in increasing order 📈 - Company is fully debt free which gives an extra edge to company's growth - Promoter's holding is 74% which is actually very good - FII has increased its stake in last quarter - Company's Price to Earning ratio (P/E ratio) is just around 13.9 to 14 compared to industry PE which is around 32, that indicated that the company is doing great in the industry and have more potential to grow in this industry SOURCE- SCREENER.in and ticker finology Conclusion The stock is having bullish bias in long term as well as in short term analysing both - Fundamentally plus Technically, it can give us targets of 1300-1400 in long term, buying and averaging will be between 850 to 750 Disclaimer I am not SEBI registered. consult your financial advisor before any kind of investment. All the studies and ideas posted here are for educational purpose. THANK YOU KARANN DINGRA 💰
NSE:GMBREWLong
by KARANN_DINGRA
8
Bitcoin - Your Ultimate Guide to Mastering the MarketOverview: The Bitcoin market is on the brink of another explosive surge. Understanding the technical patterns and market movements is crucial to positioning yourself for incredible gains. Let’s delve into a comprehensive analysis based on historical data and predictive patterns to map out the future of Bitcoin. Historical Context: The previous Bitcoin bull market, spanning 1060 days, saw an astounding 2000% surge, from a low of $3,156 to an all-time high of $69,137. This cycle completed a textbook 5-wave Elliott Wave structure, giving us invaluable insights into the current market dynamics. Current Bull Market Insights: The current bull market commenced on November 21, 2022, at $15,476. We’ve completed wave 3 as of March 14, 2024, with a new all-time high of $73,777. Now, we find ourselves in wave 4, a critical phase that demands our attention. Wave 4 Analysis: Wave 2 correction lasted 150 days, a duration that sets a precedent for wave 4. Assuming similar symmetry, wave 4 is expected to bottom out on August 11, 2024. This wave is unfolding as an ABC corrective pattern, a common and predictable formation in Elliott Wave Theory. While it's possible that the ABC correction could be complete, if another drop arises to the $50K region, it will present an incredible opportunity for a long position. Key Levels and Fibonacci Retracements: Fibonacci Levels: Wave 4 typically retraces to Fibonacci levels of 0.382, 0.5, or 0.618. For wave 3, a 0.5 retracement aligns at the $50,000 level, a psychological and technical support. Anchored VWAP: Drawing from the start of wave 2, the VWAP aligns perfectly at around $50.7K, reinforcing this level as a robust support. Previous Bear Market Fibonacci: The 0.618 retracement of the previous bear market further consolidates the importance of the $50K support level. Pitchfork Analysis: Utilizing the pitchfork tool from the last bull market, we identify the golden pocket support at the $50K level. This tool has proven effective for long-term price monitoring and shows the potential for Bitcoin to reach $100K by September/October 2025, where the golden pocket resistance area lies. Strategic Plan: Monitor the $50K Level: Anticipate a significant demand at this crucial support level. Wave 5 Target: A Fibonacci extension of 1.618 projects wave 5 to peak around $100K, possibly by next year’s September/October. Altcoin Opportunities: With altcoins experiencing drops of 70-90%, they are at a substantial discount, presenting lucrative investment opportunities. Action Plan: Dollar-Cost Averaging (DCA): Begin accumulating Bitcoin and select altcoins. The $GETTEX:52K-$50K range is an ideal buying zone. Stay Vigilant: The next few months are pivotal. Monitor price actions and market sentiment closely. Position Yourself for Success: Great things are coming. Believe in the plan and prepare for the next wave of the bull market. Conclusion: The current bearish trend is merely a precursor to an impending bull run. Now is the time to pay attention, make informed decisions and position yourself strategically in the market. With the right approach, the rewards can be extraordinary. Let this technical analysis be your guide to navigating and mastering the Bitcoin market. Stay focused, stay prepared and get ready for the ride of a lifetime. Happy trading folks! =)
Long
by SiDec
EURUSD - Big Crash is coming...Hey Traders, We are still working with this complex zigzag pattern (5-3-5). We are currently in wave C = 5 waves. We have made the first impulse down ( subwave 1 ) and now correcting ( subwave 2 ). Expecting subwave 3 this week. Price has already retraced to 70% Fibonacci levels. This means we should start preparing ourselves for the reversal. We have marked our sell zone between 0.705 fib and 0.786 fib that lines up with the channel's resistance. EURUSD 1H - Jumping down to lower timeframes, we can see divergence using the MACD indicator. Divergence = Reversal soon. SHORT Setup: - Wait for break of ascending trendline on 1H - Stoploss: Above channel's resistance or above the highs after you enter - Targets: 1.060 and 1.050 Good Luck and Trade Safe!
by Tradenessfx
Bitcoin ALL-TIME-HIGH is STILL COMING: Here's WhyA hint... the RSI. The RSI is one of those reliable old-timers, especially useful in higher timeframes to determine longer period price action, such as near term and long term. Together with Elliot Wave Theory, I'm going to present to you an argument for why Bitcoin is STILL BULLISH and what my strategy/expectation is for the coming weeks. I'll also share key metrics to watch and do regular updates should the conditions mentioned in the video be met. Although I am short term bearish, I remain longer term bullish, making it really impossible to label this post as solely "short" or "long". Cheers to the Top10%'ers 🥂 __________________________ BINANCE:BTCUSDT
by CryptoCheck-
1
DOTUSDT H4 Dot currency. For storage. We put 100 lines under the word storage. I do not trade. Futures contracts, I store currencies. They are for storage, including levels. Frankly, I bought from the $4 levels. I bought from the $4 levels. I bought a respectable amount. Now. It is at $6.25. The first target, as shown in the chart, $11? I sell half the quantity, at $11. And we target $20 to $25 with the remaining half quantity. Good luck to all of you, and any question leave me in the comments.
Long
by Abdelmalak
BITCOIN CRASH TO 54.7K MINIMUM MT. GOX DUMP!!!Hello as you can see we have 5 waves up and an abc correction. we are working on the C wave and i expect it to hit 54.7k because that is the 1.1 extension fib of wave a measured from wave b (be careful tho as wave C can go to 1.618 which would be 44k i dont see that happening this time tho as we still need to make a wave 5 on the super large time frame), as well as having a FVG that needs filled there, as well as being the base of the channel we are in. It is a triple confluence. If you look at RSI we have a bearish divergence as well. The two bottom indicators i am using are also showing to be in the middle of a wave right now. that would be the C wave on the large time frame. we will be making the 5th wave down on the lower time frame which on the lower time frame of that will be a 5 wave impulse move because we are in a downtrend. Also, Mt. Gox, an old exchange that went down like 12 years ago is starting to repay their creditors in July, which is now, so those people are sitting on like 14000% profit and are going to cash out and dump hard. it is a total of like 18 billion. This is a negative outlook but its just what the data show. when the data show bullish then i will be bullish but there is just so many things right at this moment ab to crash btc so just hold on tight and open a short. i have one open from 63.2k and a target of 54.7k. Lets see if it hits.
INDEX:BTCUSDShort
by member_berry
Aussie Shows Bullish Pattern After Hot CPI DataAussie is still sideways against the US dollar, trapped in a range for more than a month. However, the price is now moving towards the upper side of this pattern after hot Australina CPI (4%) this week, so RBA shoudl stay hakiwhs, suggesting a greater chance for a break out of a bullish triangle rather than a bearish trend. If analysis is correct, we are currently in a subwave "e", meaning there could still be some intraday weakness down to the 0.6630 to 0.6640 potential support levels. These would then be the final piece of this bullish structure, which should eventually take the price higher. However, only if the price closes above 0.6700 , the triangle will be seen as completed, and we should expect a straight move higher, possibly even to the 0.6780 area. Grega
Long
by ew-forecast