Get started

Fractal

QQQ at $820: Madness or Possibility?Disclaimer: First and foremost, it's important to clarify that this analysis is not a buy recommendation, nor was it made with the expectation that prices will definitely reach this target. The goal here is to share a technical perspective and offer another piece of information for traders and investors to consider. In technical analysis, especially in the classical approach, there are no certainties. My intention was simply to share an interesting idea I noticed while applying concepts from the literature. Hey everyone, I’ve been looking at the weekly chart of NASDAQ:QQQ , and it seems we’re following a pretty healthy uptrend. From what I’m seeing, we might be on the way to a wave 5 (Elliott Wave) of this upward move, which is quite interesting. To back up this analysis, I took a look at John Murphy’s classic book , Technical Analysis of the Financial Markets , to review Fibonacci projections. Applying Fibonacci to Wave 5 John Murphy gives some great tips on how to project the top of wave 5 using Fibonacci. In chapter 13 (page 346), he says the following: "The top of wave 5 can be approximated by multiplying wave 1 by 3.236 (2x1.618) and adding that value to the top or bottom of wave 1 for maximum or minimum targets." And there's another one: "Where waves 1 and 3 are roughly equal, and wave 5 is expected to extend, a price target can be obtained by measuring the distance from the bottom of wave 1 to the top of wave 3, multiplying it by 1.618, and adding the result to the bottom of wave 4." Applying This to the Weekly QQQ Chart So, I applied these ideas to the QQQ weekly chart and, honestly, I came up with a wave 5 target between $820 and $830 . Yes, it seems quite far from the current levels, and I admit that at first, it sounded a bit exaggerated. But, following Murphy's reasoning, these are the numbers that make sense based on Fibonacci projections. But is that realistic? I know, it’s a bit of a surreal target, right? $820 - $830 is far off, especially considering where we are now, but following the Fibonacci rules that John Murphy describes, we can’t entirely rule out this possibility. 😅 Even though these values might seem unlikely at first glance, technical analysis encourages us to keep an open mind about future possibilities. Still, one question struck me while doing this analysis: What could actually make wave 5 extend this much? I'd love to hear your thoughts! Do you think there are other factors at play that could push the price this high, or is this projection too ambitious? Share your insights in the comments, and let's discuss it together!
NASDAQ:QQQ
by LuccasChartRoom
$BTC Historic ATH's / FibsNew discovered Fibonacci channel: '22 Lowest - current ATH The visualization of these channels enhances awareness regarding upcoming potential price reactions. Fibonacci Channels as Roadmaps: Utilizing Fibonacci ratios, steep channels delineate clear zones where Bitcoin has historically found support or encountered resistance. These ratios, fundamental to the Fibonacci sequence, are critical in estimating areas where price movements are likely to stall or reverse. Fib ratios splits the cycle into its phases:
INDEX:BTCUSD
by fract
2
Bitcoin 1H UpdateMEXC:BTCUSDT Apparently a correction has been started. The high of the structure confirmed by touching the IDM.i. If the 1H candle closed lower than IDM.i, we may expect price to drop further to the DP.i / ENG.i / EX.i otherwise the IDM.i grabbed and make a SCOB for us to enter another Buy Position and the target one is the high of structure (63850) and the second target is the MPL zone (64460). P.S: In the DPs & ENGs zones and grabbed IDMs we MUST get a confirmation signal to enter position which is SCOB or lower time frame (LTF) ChoCh. (EXs are confirmation-free entries) I will update Bitcoin regularly.. Take Care Aurio
by x-Aurio
Bitcoin / #Russell2000 📝The index of small companies is known for being highly dependent on bank financing. Therefore, of course, he is the main beneficiary of cheaper money after the rate cut. 👀What we see about correlations, CRYPTOCAP:BTC bull markets, coincide with the movement of this index as you can see, in the green zone on the Spearman indicator, 💡We can also see that Russell 2000 is far from its ATH, which is also a bullish sign, because small companies in the stock market grow quite predictably with GDP growth and increased liquidity, and in the current state is far from overheated.
BNC:BLXLong
by FeelsStrategy
DOGECOIN 2024 — A Massive Breakout Coming?Hello, fellow traders! I'm excited to share an intriguing analysis with you today. Let's explore how Dogecoin DOGEUSD might be following in the footsteps of Stellar's XLMBTC remarkable 2017 bear market and 2018 bull run. By comparing historical charts of Stellar with the current movements of Dogecoin, we could uncover patterns suggesting a significant breakout for DOGE this year and into the next. This insight might help you spot potential trading opportunities in the market. Stellar's 2017 Journey On the top chart, we have Stellar XLMBTC chart from 2017 and 2018: All-Time High (ATH) of 2017: Stellar reached its ATH, followed by a period of declining lower highs during the summer months. Accumulation Phase: Mid-autumn brought an accumulation zone, indicating consolidation before the next big move. Wedge Pattern Formation: A wedge pattern emerged, leading to increased bullish momentum. Breakout to New Highs: Post-wedge, Stellar entered a phase of higher highs, establishing a new ATH at the beginning of 2018. Dogecoin's Current Path Now, let's examine Dogecoin DOGEUSDT on the 3-day timeframe: ATH in May 2021: DOGE hit its ATH and then began a decline into a lower highs zone. Accumulation Zone Since Mid-2023: Like Stellar, DOGE was in an accumulation phase that lasted until 2024. Wedge Pattern Development: In 2024, DOGE formed a wedge pattern, with the price currently residing within this formation. Moving Averages Alignment: Interestingly, the moving averages on both charts behave almost identically, reinforcing the pattern similarity. What This Could Mean The parallels between DOGE and XLM suggest that Dogecoin might be bottoming out and could be on the verge of a significant breakout. While history doesn't always repeat itself, these patterns are worth paying attention to. What are your thoughts on this comparison? Do you think Dogecoin is set to follow Stellar's past performance? Share your insights or any questions you have in the comments below — I’d love to hear your perspective! Remember, the crypto market can be unpredictable. It's essential to protect your capital and manage risks appropriately. A fundamental risk management strategy is to use no more than 1% of your capital per trade. If you found this analysis helpful, please like this post and follow me for more cryptocurrency insights. Stay tuned for more updates!
CRYPTO:DOGEUSDLong
by ArShevelev
1
Dow Jones Industrial - DJI - is creating a ending diagonalEnding Diagonal Overview An Ending Diagonal is a pattern that signifies the exhaustion of a larger movement. It occurs at the final stages of a trend, either at the end of a five-wave impulse or at the end of an A-B-C corrective structure. Typically, ending diagonals take longer to unfold compared to standard impulses, indicating a slowdown and an imminent trend reversal. Key Rules for Ending Diagonals • Where they appear: Ending diagonals can occur in either Wave 5 of an impulse or Wave C of a corrective structure. • Wave count: An ending diagonal subdivides into five waves. • Wave structure: Each of the five waves in an ending diagonal consists of three smaller waves. • Wave overlap: In an ending diagonal, Wave 1 and Wave 4 overlap, unlike a standard impulse. Guidelines for Identifying an Ending Diagonal • Wave size: Wave 1 is typically the largest among Waves 1, 3, and 5. • Contracting vs. Expanding Diagonals: • In a contracting diagonal, Wave 5 often terminates slightly beyond the trendline connecting Wave 1 and Wave 3. • In an expanding diagonal, Wave 5 typically ends before the trendline connecting Wave 1 and Wave 3. • Wave 3 extension: If Wave 5 is an ending diagonal, Wave 3 is most likely to be extended. • Implication of extensions: Wave 5 extensions, truncated fifths, and ending diagonals all suggest a significant reversal is approaching. • Sub-wave structure: Unlike typical impulses, the sub-waves Wave 2 and Wave 4 do not alternate in terms of structure. Both corrections are usually simple ZigZag patterns. • Throw-over phenomenon: Often, prices may briefly shoot beyond the trendline connecting Wave 1 and Wave 3 in a phenomenon known as a throw-over, indicating extreme exhaustion. This is followed by a sharp reversal. • Trading opportunity: A strong buying opportunity usually emerges when prices break above the diagonal trendline connecting Wave 2 and Wave 4. Internal Wave Structure The internal structure of an ending diagonal follows a 3-3-3-3-3 pattern. Each of the five waves in the diagonal subdivides into three smaller waves, typically following an A-B-C ZigZag pattern. This differs from a typical impulse, which subdivides into a 5-wave structure. Conclusion Ending diagonals mark the completion of major trends and serve as powerful reversal signals. Recognizing their internal wave structure and the key characteristics such as the overlap of Waves 1 and 4, the throw-over, and their 3-wave subdivisions can help traders identify impending reversals and take advantage of new trend opportunities.
TVC:DJIShort
by integer256
1
SPX500USD: Capitalizing on Probabilities for a Bullish SurgeSPX500USD: Bullish Momentum Supported by Key Fundamentals The S&P 500 (SPX500USD) shows strong bullish potential, backed by several key fundamentals 1. Resilient economic growth: Recent GDP data indicates continued expansion despite earlier recession fears. 2. Easing inflation pressures: Core inflation metrics are trending downward, potentially allowing for a more accommodative Fed policy. 3. Strong corporate earnings: Many companies are beating earnings expectations, demonstrating business resilience. 4. Technological advancements: Ongoing AI integration across sectors is driving productivity gains and investor optimism. Probability-Based Approach for Long Positions I'm utilizing probabilities to enter long positions. My charts will showcase key probability zones and potential entry points. Let's dive into the top-down analysis. 12M: 2W: 12H: I’d love to hear your thoughts on the SPX500USD outlook!
OANDA:SPX500USDLong
by Jasminex1x2