BTC.DBitcoin's dominance seems to have completed an impulse and naturally it should enter a period of correction and take time.
Modification can be in the form of any pattern.
Elliotwaveanalysis
TRADE_SETUP_DABUR 10% MOVE IS STARTING NOW!This FMCG stock is spotted completing a complex triple three(WXYXZ)correction to a prior leading diagonal wave 1 that it had developed between October-Dec.2023.
The stock has made a 50% retracement of the 'wave 1' rise during the complex correction in the past three weeks.
Now that the corrective wave is nearing its end(or already ended), the stock should be expected to make a ''U-turn" from current levels and should attempt to move towards the INR 580 mark in coming weeks/months.
INR 520 can be used as an "SL" on the downside.
At current levels, the stocks offers an attractive risk reward of 1:5 for a short term trade.
Note*- Views are based on personal opinions/observations. Please do your own research before making any trading/investing decisions.
LINK-Beautiful Rising ABC Flag, Stair Stepping Up Out Of A Wedge#LINK
- Beautiful Rising ABC Flag
- Stair Stepping Up Out Of A Wedge
- Multiple Precision Touches On POI's
- Observe Reactions From POI's
- Volume In All The Right Places
= Number Go Up
Bitcoin correction My analysis indicates that Bitcoin has recently completed the fifth and final wave of its impulse phase. This phase is typically marked by a strong upward trend, driven by a surge in investor optimism and market euphoria. However, this is not just a peak in price; it also signals an impending shift in market dynamics.
We are currently observing Bitcoin's transition into its corrective phase, traditionally denoted as the ABC pattern. This phase is critical as it represents a period of market adjustment and rebalancing after the rapid escalation seen in the impulse phase.
Our findings suggest that Bitcoin has completed Wave B of this corrective phase. Wave B is often characterized by a deceptive recovery or stabilization in price, leading some investors to prematurely anticipate a resumption of the upward trend. However, our projection indicates that we are on the cusp of entering Wave C, which is expected to bring a further decline in Bitcoin's value, potentially reaching a target of around $37,050.
The anticipated decline in Wave C could offer a more favorable entry point for new investments. However, it is crucial to exercise caution. Elliott Wave projections, while insightful, are not infallible and should be considered as part of a broader, diversified investment strategy. It is essential to remain vigilant and adaptable, considering the inherent volatility and unpredictability of the cryptocurrency market.
Tezos(XTZ): Looking Potential Movement To Upper Resistance With an Elliott Wave pattern in motion, points (A) to (E), the coin has been making waves. The climb to point (C) was promising, but now we're in a critical phase as we've slipped from there, and point (D) is giving us some hope from the push it is showing us right now.
It looks like we're gearing up for a decisive moment at point (E). If the bulls can muster up the strength and we break past the resistance near the $0.90285 mark, we're eyeing a potential uptrend that could challenge previous highs. On the flip side, if the bears take the reins and we see a downturn from (E), there's a chance we could dip back down to test lower supports. It’s all about the play-around point (E) now. We personally want to see a nice rejection happen in the near future. that point!
Elliott Wave Analysis: BTC/USD Festive Season ForecastIntroduction:
As we approach the weekend and the joyous Christmas season, a festive atmosphere engulfs the cryptocurrency market, especially the BTC/USD pair. Building on our previous analysis, an Elliott Wave Impulse is expected to guide the market's course during this celebratory period.
Elliott Wave Impulse Structure:
The Elliott Wave theory suggests that market trends unfold in a five-wave impulse pattern, representing the natural rhythm of investor sentiment. In our BTC/USD analysis, we anticipate a compelling five-wave sequence, with each wave playing a distinctive role in shaping the market's direction.
First Wave:
The initial wave sets the stage for the festive season, with a strategic entry point identified at $43,910. This wave marks the beginning of the upward momentum, propelled by positive market sentiment and holiday optimism.
Second Wave:
Following the initial surge, a corrective wave is anticipated, providing an opportunity for adjustments and strategic positioning. The market may experience a brief pullback, presenting an ideal entry point for astute traders. The first take profit target is projected at $44,840 during this phase.
Third, Fourth, and Fifth Waves:
The subsequent waves will unfold dynamically, each contributing to the festive fervor. The third wave is expected to extend the rally, surpassing previous highs and reinforcing the bullish sentiment. As we progress through the season, the fourth wave may introduce a temporary correction, offering a second opportunity for entry.
The grand finale comes with the fifth wave, reaching new heights and culminating in the festive celebration. This wave is expected to carry the market to a peak, creating a jubilant atmosphere for traders and investors alike.
Conclusion:
In conclusion, the Elliott Wave analysis for the BTC/USD pair sets the stage for a festive celebration in the market. As the waves unfold, from the initial surge to the grand finale, traders are urged to stay attuned to the rhythm and dynamics of each wave for optimal decision-making during the weekend and the Christmas season.
May the joy of the festive season extend to the cryptocurrency market, bringing prosperity and positive vibes to BTC/USD traders. Happy trading and Merry Christmas!
2024 is a GOLDEN YEAR for GOLDIt seems that the market is forming a diametric pattern that we are currently in wave (D) and it is not yet completed.
Wave (D) will probably be a neutral triangle pattern, wave d of this triangle is almost over, but it can move up to $2206 and end.
It seems that 2024 will be a good year for gold and those interested in it .
Good Luck
BTCUSDT bearish impulse waveBTCUSDT up-to-date. Price is retracing below USDT41400, which level is a limit for a impulse wave confirmation, from an Elliotician perspective. On this case, if price is rejected from this 78.6% Fibonacci retracement, we'll see a profitable leg downward to accomplish wave -3. Potential USDT40400 target, in demand zone, for this swing trade. Chaikin Money Flow below zero showing selling pressure in confluence with price action.
BTCUSDT IGNITING AN IMPULSE BEARISHAs an update from my first post on this new account, I'm showing u that on this 30m BTCUSDT chart that price is heading in a potential impulse wave (Elliot Wave Count). So, look on Chaikin Money Flow and u'll find a strong bearish divergence printed! Bears on command.
BTCUSDT reached supply BTCUSDT seems to be reached supply zone. Price action drew a logical dynamical resistence line - top formation - in a confluent Elliot Wave count. USDT 40400 is a potential target for short swing trade in an possible impulse bearish.
GOLD XAUUSD going long to 2080 / 2120 - after a solid consolidation the price ran up with a massive impulse;
- the next step is a pullback to 2000 / 2005 , after which an uptrend continues;
- this uptrend move can be rapid and quick; the market needs to be watched .
USDTRY This red candle referred to by the arrow is a candle whose body is very small and does not have any volume. This means that it is a test candle for sellers and it succeeded. There are no sellers in this area. This means that the market maker will raise prices in the next two candles and start rising because he has ensured that there is nothing that hinders the rise in prices. After this successful test
EURUSD in Intraday Correction Phase, Bullish on the SwingEURUSD 4h ABC corrective wave
AS EURUSD is in Bullish Trend, this a counter trend trade with loss Risk: Reward.
This trade will be not valid if the price action breaks the 1.1010 and close.
SL @ 1.10105
Entry @ 1.0960
TP 1 @ 1.0852
TP2 @ 1.0820
Note: This analysis is for the educational purpose.
Note: Trading is the subject to market risk. Always trade with the tight Risk management to stay the long run. Safe Trading, Happy Trading.
SP 500 4 hr chart was CLEAR 5 waves 5 of 5The chart was OUTSIDE THE MONTHLY BB BANDS I KEPT TELLING YOU DATA 1902 1.4 % min was seen if you want to GAMBLE bet on RED or BLACK 5 10 and 20 day P/CALL RINGING THE BELL
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
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BTC.DIt is expected to rise to the shaded area, withdrawing liquidity from the currencies and squeezing them well in order to complete wave B
BTC pathway outlinedSo far, tier-1 crypto has been very predictable. I have no reason to think BTC will not get to the next fib resistance area of $46,500-$46,600.
Nvidia decides to keep us guessingThe last time I updated Nvidia I stated that below 459 there is a higher chance we decline closer to $400.
Read my last update here.
Price did decline to breach $459 and we have subsequently moved to the upper trading ranges but have yet to make a new high. Below the previous all-time high of approximately $506 I still favor a move down closer to the $400 area.
Requested Update: Bond Yields Complete a 5-wave pattern higherWe have our first indication of a top in bond yields with price overlapping and losing it's impulsivity to the upside. However, a top is not confirmed until yields breach 3.40% which is our wave 4 of one lesser degree.
To do so should confirm the beginning of our wave 2 decline into the target box, and over time.
Weekly Update: Expectations after such an impressive rally?I remind in my updates periodically, that nothing clears up confusing-overlapping price action, like more price action.
Meaning sometimes, as an analyst, it can be difficult to forecast precisely what is playing out, until right before a pattern concludes. This current pattern off the October 2023 lows is one of those occurrences. Corrective waves can take on many shapes aside from a standard A-B-C retracement. As patterns mature, counts will change as more price action occurs providing additional clarity. The rally off the October 2023 lows has no particular definitive shape and started out in a overlapping manner. The application of Elliott Wave Theory is not magic, nor is it some sort of divine foresight. The forecasting of markets is reading into the human behaviors of crowds. Yes, most of the time, crowds act in predictable fashion…in contrast, other times, they do not reveal their ultimate intentions until the very end.
Currently below SPX 4818.62 the advance off the October 2022 low of 3491.58 remains a (B) wave retracement. The moment price breaches that level the ending diagonal pattern becomes the most valid conclusion. The problem I currently have with the ED pattern is this advance would fit best as just the a-wave of wave 5 in an ED. However, there are no rules governing this this pattern aside from each of the 5 waves must consist of 3 subwaves...to breach 4818.62 in direct fashion would provide that...so whereas I would expect this to be just the a-wave...the pattern would fulfill the minimum criteria of being complete.
So, we have very little clarity to speak of until we get a decline. The pathways forecasted are outlined above.
EURUSD Short Corrective ABC wave @ 4HR Timeframe.EURUSD Short Corrective ABC wave for few pips.
In this trade entry was took at 1.09237, TP1 @ 1.09523, TP2 @ 1.09636. SL 1.09033. We can trail the stop according to the ADR levels.
After this short correction, we can expect the another correction for downside.
Note: EURUSD is Bullish Long on Daily, Weekly, Monthly as per my analysis.
Kindly, note this analysis is for educational purpose only. Trading is the Subject to the market risk. Trade safely.. Happy Trading.
TRADE SETUP_ bottom in place for SCI _ 30% upside potentialThis PSU stock has made a bottom on 25th Oct after completing a zig zag correction starting 11th Sep.
This particular bottom shall be considered as a wave iv bottom of an ongoing impulse wave that began in April this year. The stock is now expected to take off in wave v towards 170 zone providing a good 30% upside potential.
The Oct bottom of 128.5 can be used as a crucial support for the stock(also SL) to the rally that has already begun.
CMP 135
SL 127
TARGET 170
NOTE*- Kindly do your own research/analysis before taking any financial positions. The above stated views on the chart are my personal views/opinions and to be treated as such.
