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Elliotwaveanalysis

Regardless of your bias, trade cautiously...Honestly, I do not think the correction is over, I think we may see near Covid prices again... The lack of a "covid wick" on the monthly is the biggest giveaway to me. I must admit, my macro has errors and therefore, can only trade my micro, however, at the end of this set we could really dump. I know Bulls are calling for buys at 28k, but honestly, with the uncertainty I can see in the market (Triangles within corrections), who knows how deep that could go, and it will only be a Wave 1 going down... On retracement, everyone that missed the sell will offload for profits starting Wave 3... This is an opinion, based on my TA. I may be wrong. I do not care if I am, I will protect my wealth regardless, you do you. I am currently long, so short term BTC goes up. However, on the daily, two of four criteria to indicate the top have been met. Regardless of your bias, protect your positions at the end of this set. I can honestly say I have no idea what will actually happen. Safe Trading.
BNC:BLXShort
by JMSBurton
2
USDJPY: Strong Elliott Wave Bearish Reversal On Hawkish BoJUSDJPY is coming sharply to the downside this week as hawkish BoJ hinted a potential policy change in 2024. We see strong breakdown on USDJPY, below the chanel support line on the daily chart which makes us think that this is a new higher degree decline that should be done with three waves down minimum. So be aware of more weakness in weeks ahead, especially after we see any bounce back in wave 2 or B rally. One of the reasons why USDJPY can be headed much lower is also the US nod market which can be bottoming, as speculators believe that the FED is done. So with speculators betting on hawkish BOJ and "dovish" FED for 2024, the pair can be headed to 137. Grega
Short
by ew-forecast
1
LIC India goes into a 'Wave 3' impulseThe largest insurer in India showed a massive volume and price gain on Friday's trading session bringing itself into some spot light. The stock was in a corrective triple three structure from the start of Sep. until Nov 13 when it completed the correction with a truncated 'wave 'z''. In a matter of only 7 trading days after having completed the correction, the stock is up 12% from bottom 'z'. While Friday's move might make it look like the stock has over-shot a bit but in totality of things the 'wave 3' is not even half-way from its target. INR 780-790 zone is the projected wave 3 target. It makes sense to accumulate this stock between INR 655-685 levels before it jumps above the INR 700 mark. CMP 677 Support zone 655-660 Target 780 Note*- Please do thorough analysis of any financial instrument before you trade/invest in it. The views expressed here are my personal opinions and not an advice to buy/sell.
NSE:LICILong
by neeraj_2_sharma
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
SBI to INR 600 again?A 5-wave impulsive rise was spotted in SBIN beginning on 26Oct and ending on 16Nov.The stock moved 8% during this impulse. The correction that began on 16 Nov was quite steep and swift forcing the stock to give up on 70% of the gains it made during 'wave i' phase. Now, however after having completed the correction the stock is set to move up again in 'wave iii' phase. The projected length of this wave suggests that the stock could soon be at the INR 600 mark. As of now the low of 555 is being considered as important reversal point and being considered for 'SL'. Note*- The views expressed here are absolutely based on personal opinions &observations. Please do your own research before making any trading/investing decisions.
NSE:SBINLong
by neeraj_2_sharma
4
Bitcoin Ready To Break Higher On Thanksgiving DayCryptocurrencies are in uptrend for the last few weeks, a move that even accelerated at the end of October and start of November when US yields turned down, which is supported for the cryptocurrencies as the dollar turned down. In fact, US yields are looking toppy after the latest US CPI data, meaning more weakness can be bearish for USD and supportive for the BTCUSD at the same time. Looking at the Bitcoin, there is a nice ongoing triangle pattern here in wave four which is about to break, maybe a volatile session will still show up on thin liquidity due to the Thanksgiving holidays. But normally breaks during holidays may not hold for a long time, which also makes sense from Elliott wave terms as the next leg higher can be the fifth wave, out of a triangle. So a final leg within a bullish impulse that can face some resistance later on at 40k area. S if you are long, maybe you may consider to make tighter stops on the next push up. On the other-hand, if I am wrong and if price will break 35600 swing support from this week, then pullback will be lower and more complex but still correction. In such case deeper supports to watch for a bounce can be at 34k followed by 32k. Trade well, and if you are celebrating I wish you a happy Thanksgiving. Grega
BITFINEX:BTCUSDLong
by ew-forecast