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PLTR - Earnings pop incoming?I've put a lot of thought into this one. This chart is in log mode as the wide range of prices covered are smoothed and reveal the potential true picture. I give a primary bullish scenario but caveat with multiple different potential outcomes given certain price actions. Trade at your own risk. As you can see, PLTR put in a significant top near the 61.8% retracement of the major move down from January 2021 to January 2023. In linear mode, it's also a 61.8% retracement (not shown on chart) of the September 2021 top from the January 2023 bottom, further confirming how much of a massive resistance level it is. Elliot Wave indicates that this was a 3rd wave in a 5-wave upward impulse. For that to be true, PLTR will need to hold the $12 area if it is going to continue down leading into earnings. Should it hold there, the potential for an earnings pop is at our fingertips. If you look at the 2nd wave of the current 5-wave move up, the same thing happened with earnings there leading to a massive move upward into our very explosive 3rd wave. This leads to our buying opportunity. Should we see PLTR dip below $15 today through Wednesday, October 27th, it would be in the accumulation zone. Set your stop at $12.00 with a GTC-EXT order. This should limit your losses should earnings kickstart a further downward move that breaks support. Assuming the 5th wave does engage, the potential targets are outlined on the chart. I must caveat though that 5th waves are unpredictable. They can terminate before, at, or higher than the general expected levels. In Elliott Wave, usually only one of the 3 impulse waves (1,3, and 5) will see an extension. With 3rd waves usually targeting the 161.8% fib extension level, the 5th wave target is generally expected to be the 200% level. With every 3rd wave extension level, you can usually expect the 5th wave level to rise the same number of extension levels. In this case, the 3rd wave extended and surpassed the 176.4% level, one extension level above the standard, and came shy of the 200% level. So the general minimum expectation for our 5th wave target should be a minimum of the 223.6% level, which comes in at around $25. Given that the 3rd wave already extended, it should not be expected that the 5th wave will also extend. If it somehow does, the upper target is a gap fill from February on 2021 at $31.34. Profit is generally taken at the minimum level with some runners left for potential upside. Should PLTR start rising and form an upward pattern prior to hitting my ideal 4th wave target in the mid $12's, it is possible the 4th wave is already in (or maybe it touches the mid $13's one more time). I will add that the shape and structure of a 4th wave that terminates in the $13's holds a far more likely chance of becoming a a descending triangle where the bottom holds flat and the tops terminate lower until the pattern ends. If this were a triangle, it would be most likely that the next touch of the mid $13's would be the c wave with an e wave to come in the $17 range and the e wave to again target the $13's. Due to the nature of the current structure, I only favor a significant earnings pop should PLTR fall to $13 or lower. Should you see PLTR dip below $12, then the expectation shifts to a major top being in and downward pressure taking this to $10 and potentially lower. Therefore, below $12 range and I recommend getting out and waiting for further clarity. If you hold at a basis higher than the previous top and don't want to sell, consider selling calls to lower your basis or selling $10 puts. The alternate count not shown on this chart would have the May 2021 low as an A wave, the September 2021 top as a B wave, and the January 2023 bottom as the C wave in a larger degree (A)(B)(C) long term corrective pattern. The recent top at the 61.8% level would be the 3-wave (B) wave of this larger degree, with the bottom (C) wave coming in at new lows over the next 1-2 years. This is why the stop is so important. Readers should always remember that markets are their own creature made up of millions of individuals and institutions each following some combo of inherent bullishness, inherent bearishness, fundamentals, technicals, stupidity, and pure emotion. Elliott Wave, and specifically Fibonacci Pinball (developed by Avi Gilburt at elliottwavetrader.net and prominent Seeking Alpha author), merely provide a framework based on the observed price action to date. I know that while my wave outline is based on years and years of data and application from not only me, but some of the best in the game, I also know that markets do not follow a set path and that sentiment can remain irrational far longer than I can remain rational. That is why you MUST consider the altneratives and manage risk appropriately. Know the pivot zones that could lead to the primary path failing. In this case, it's the low $12.00 range. I warrant that the information created and published by me on TradingView is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors. My analysis is not a recommendation for a specific trade. My analysis outlines a potential scenario and provides risk assessments for multiple alternate scenarios. -mazag08 - TastyWavez 2023
PLong
by mazag08
3
Riding the Waves with Affirm Holdings An Elliot Wave PerspectiveGreetings, fellow learners of the financial markets! Welcome to RK_Charts, and today, let's delve into an educational exploration of Affirm Holdings. Technical Insight: Affirm Holdings is currently trading near $36.70, showcasing an intriguing Elliott Wave pattern. Having successfully navigated through waves (1), (2), and (3), the stock now finds itself in the midst of the corrective phase, wave (4). Within this phase, wave C is on the verge of completion, having completed waves A and B. Detailed Wave (4) Analysis: Zooming in on wave C, the intricate journey unfolds with meticulous completion of waves ((i)), ((ii)), ((iii)), and ((iv)). As we stand on the precipice of the final leg which can show little new Low also possibly with Bullish Divergence, wave ((v)) beckons, potentially signaling an upcoming bullish move, So new Low can be an opportunity at lower levels. Educational Purpose Only: This analysis is presented solely for educational purposes. It is crucial to understand that market dynamics are multifaceted, and investing involves inherent risks. Always conduct thorough research, factor in personal risk tolerance, and consider seeking advice from financial professionals. Invalidation Level: In this educational context, an invalidation level is established at $30.65. This level serves as a precautionary measure, signaling a point at which the current analysis may no longer align with market movements. It's a reminder of the importance of risk management in any trading or investment decision. Potential Target: For those intrigued by market dynamics, consider the educational exercise of contemplating a long position in Affirm Holdings. The anticipated target of $52.50 aligns with the top of wave (3), illustrating a potential upward trajectory. Conclusion: In the realm of financial education, Affirm Holdings provides a captivating case study. Approach this analysis with a curiosity for learning, acknowledging the fluid nature of markets, and embracing the importance of risk-aware decision-making. Happy learning I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NASDAQ:AFRMLong
by RK_Chaarts
Diagonals in ElliottwaveSome old and new rules when it comes to diagonals. Further notice can be added that diagonals actionary waves can be composed either by zig zags or impulses so Waves 1/3/5 can be Impulse or 1/3/5 zig zags We cant have hybrids where we mix zig zags and impulses. Actionary waves in ending diagonals can only be formed by zig zags and never Impulses. Every reactionary wave (or corrective wave) in a diagonal must be a zig zag (or a zig zag family, meaning double or tripple sharp zig zag)
NASDAQ:PEPEducation
by PK_SEND_IT
2
GITLAB: Elliott Waves and Reversals potentialGreetings, fellow investors! In this technical analysis, we explore the Elliott Wave patterns shaping the landscape of GitLab (NASDAQ: GITLAB). As of the current evaluation, the stock is positioned at a critical juncture, poised for the completion of wave 4, with a nuanced focus on the unfolding wave ((c)). Wave 4 Overview: Having traversed through waves 1, 2, and 3, GitLab now stands on the verge of concluding wave 4. This corrective phase sees the completion of both wave ((a)) and ((b)), entering the final leg of wave ((c)). Within this intricate phase, wave (i), (ii), (iii), and (iv) have successfully played out, setting the stage for the imminent completion of wave (v) within ((c)). Key Support Levels: Equality Extension: After achieving the equality of wave ((a)), GitLab has approached the extremes, reaching 1.618% of wave ((a)) in wave ((c)). EMA Confluence: Notably, the 55-56 zones present a significant confluence, housing both the EMA 50 on the weekly timeframe, along with the EMA 200 & 100 on the daily timeframe. Internal Wave Counts: Further reinforcing this critical level, internal wave counts align, adding weight to the potential reversal zone. Anticipated Reversal and Targets: With the confluence of technical factors at the 55-56 zones, there's a compelling case for a bullish reversal. A reversal from this level could offer a promising swing buy trade, signaling a northward trajectory to complete wave 5. This anticipated wave 5 has the potential to surpass the high of wave 3, pegged at 78+ levels. Invalidation and Risk Management: To safeguard against potential downside risks, a close below 55 is established as the invalidation level. This serves as a prudent measure to reevaluate the analysis in case of unexpected market movements. Wave 5 Insights: Wave 5, known for its impulse and directional strength, often exhibits a final burst of buying or selling pressure. Traders should be vigilant for signs of divergence, volume spikes, or other confirmatory signals as wave 5 unfolds, enhancing decision-making precision. Remember, the market is dynamic, and risk management is paramount. This analysis is not financial advice but aims to provide an educational perspective on GitLab's potential future movements. Happy Learnings! I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NASDAQ:GTLBLong
by RK_Chaarts
Wave-by-Wave Adventure, US Dollar UnpluggedDecoding the US Dollar Index: Navigating Wave (V) with Thrills Since the economic tumult of 2008, the US Dollar Index DXY (USDX) has been on a captivating journey, tracing significant waves on its chart. As of now, it stands on the precipice of unfolding the final leg of this larger movement, marked as the thrilling wave (V) on the weekly chart. Weekly Chart Adventure: Wave (I), (II), (III), and (IV): Conquered. Wave (V): The adventure is just beginning. Daily Chart Expedition: Inside the thrilling wave (V), wave I, II, and III have been epic conquests. Currently navigating the challenging wave IV, a terrain of correction. 4-Hourly Chart Odyssey: Within the tumultuous wave IV, ((A)), ((B)), and the unfolding ((C)). Inside ((C)), embarking on subdivisions: ((a)), ((b)), and the imminent thrill of ((c)). Thrilling Wave Principles: Witness a double correction, an unexpected twist in the daily chart's narrative. The ongoing correction within wave IV on the 4-hourly chart involves a complex W-X-Y pattern, adding an unexpected thrill. According to the pulse-pounding Elliott Wave Theory, wave (2) should not retrace more than 100% of wave (1). Current Pulse: ((a)) of ((C)) is reaching its climax, with the suspenseful unfolding of ((b)) and the highly anticipated ((c)) yet to grip our attention. Critical Invalidation Level: 107.335 (A point of no return, a daring move beyond 100% retracement of wave (1) inside ((C))). Please Note: This analysis is not just a journey; it's a heart-racing adventure crafted for EDUCATIONAL PURPOSES ONLY. Get ready for more twists and turns as we navigate the thrilling waves ahead...!! I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
TVC:DXY
by RK_Chaarts
2
Navigating ABCAPITAL's Elliott Wave JourneyWeekly Time Frame: Elliott Wave Analysis: ABCAPITAL has completed wave (4) in Blue on the weekly time frame and is possibly unfolding wave (5) in Blue. Current Stage: A closer look at the daily time frame reveals the completion of wave 1 in Red, and a potential near-completion of wave 2 in Red. Invalidation Level: Strict invalidation set at the low of wave 1 in Red, pegged at 155. Daily Time Frame: Next Phases: Anticipating the commencement of wave 3, followed by wave 4 and wave 5 in Red, completing wave (5) in Blue on the weekly. What if Scenario: Break Below 155: If the price breaks below 155, the low of wave 1 in Red, we might assume a more complex correction with the possibility of double corrections within wave (4) on the weekly. Risk Management: Traders are advised to incorporate risk management strategies, including setting stop-loss levels to mitigate potential losses. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:ABCAPITALLong
by RK_Chaarts
XAUUSD LONG SCENARIOThe precious metal has gained more than 8% since Hamas attacked Israel. While the war will continue to drive haven flows toward Gold, further price gains also hinge on the Fed’s rate cycle nearing an end. This will result in retreating US yields, reducing the opportunity cost of Gold.(Source: FX Street) From Technical Aspect, XAUUSD is forming Wave C of (2), expect the price break 1986.85 as Bullish Confirmation. Kindly remember, Elliott Wave is highly subjective, i will post if there's a new update on my perspective. Trade safe, Everyone! Cheers.
EIGHTCAP:XAUUSDLong
by MarioSianipar_
BTCUSD: Road to 50k?The BTCUSD price has just completed wave 2 and is on course for a fine wave 3 (broken down into 5 orange sub-waves here), supported by a bullish divergence and the break above the weekly Ichimoku cloud. Wave i could continue its ascent before hitting resistance at 32k. Wave ii would then retrace 50% of wave i to bounce off the 2021 double-top support. Wave iii (= 161.8% of wave i) would end at the 40k resistance, before bouncing back to this ascending trendline in blue as a wave iv, retracing 38.2% of wave iii. Finally, wave v is still the most complicated to anticipate, but the 123.6% retracement of wave iv seems to be in line with the assumption that wave 3 will extend wave 1 by a ratio of 1.618:1. Fundamentally, the current tense macroeconomic environment remains a danger for the BTC price. Not to mention the dollar rate, which could continue to rise in the event of a further rate hike at the next Fed meetings, particularly those on December 13th and January 31st. To be continued... Don't hesitate to comment. I'm open to new ideas, especially as the fractal plan always offers many different scenarios.
INDEX:BTCUSDLong
by Whytek