The correction phase for SLP is likely still ongoing. My primary count expects further downside for green wave V to complete the larger blue wave C. The 100% extension level (at 0.002865) for blue wave C is the most probable target, occurring in over 70% of similar scenarios. Invalidation Point: This count invalidates if SLP rises above 0.0062 without first...
3 months since my first idea on HDFC Bank. After correcting in a zig-zag pattern, price reversed from a little below the projected green Fibonacci zone. I would like so see a fewer more higher highs as shown via red path to call it a clear impulse. A break of corrective channel would add confidence. All in all it was a good trade to take with a very low...
Gold spiked to a new intraday high during Asian trading hours after new escalation on the Middle East, but notice that price did not reach new all-time highs, suggesting that wave 4 is still in progress. This could evolve into an ABC correction dropping to support levels at $2300 or $2270. Alternatively, it could form a triangle if prices stabilize around the...
updating the previous idea Diagonal down perhaps A Flat B Wave C to be executed
Bitcoin crashed significantly, as I warned you in one of my previous analyses: What now? Is the crash over? I don't think so! The halving event is in a few days, and huge volatility is expected. The problem is that below the current price, we have a double bottom pattern, and there is a lot of liquidity that whales need for their huge buy orders. It's really...
The same as stock market, probably, BTCUSD & ETHUSD draw a ZigZag
We're eyeing the Fair Value Gap at $136 👀 Solana seems to be maintaining its position well above the Monday Low and the $130 mark. Additionally, the Point of Control (POC) should provide substantial support here. If not for BTC's fluctuations, this could be an ideal setup since we are stabilizing at wave 4 around $118.77 - indicating potential for an uptrend.
A strong drop here and other markets like Bitcoin are primed for a final push lower, before what should be a long term reversal!
High beta gets the stick and carrot in the market moves. We have the tradable select mid-cap. We did write a close above 10850 warns higher, but we witnessed a sharp sell off from there. Good names from HP/BP pushed in the day early but then wittled. The EW counts navigate and guide you very well. Save one trusts and does the hard work. It is not a pull and...
Easy comes, easy goes. Stronger optically, weaker in price. Extremes do the trick, so far so good. The fall yesterday despite the fact it just matched our understanding the path that was shown. With broader market, both global cues and results, the fear and risk off is huge! Back to the big picture, the Five waves ended, the corrective abc in operation, we...
Didnt get the retracement you'd typically like to see, so we could see a sneaky slight push lower before putting in the actual move lower as depicted here, but so far it seems like we aren't getting that deep pullback and the waves are all there on the lower fractals...sooo this could be super bearish for quite some time.
The canvass is laid, yesterday action confirms, we were afraid last support or first resistance. Brace for the break! In terms of wave, the corrective impulse is much stronger, indicating the much larger wave is in power. Thus, we pull the one cycle before what is shown. If this is true, then brace for mid 21500. In panic, supports are only in the Mind! 22300...
I think most wave traders would agree that plotting out the major direction and its general wave structure isn't that hard to do, but its when you get into the smaller fractals/waves where it can be challenging to make the right decision on a day to day (intraday) basis.... this was hard for me to accept (nearly 10 years) that you're not going to call the market...
If it comes up from this point and this wave down isn't greater than the previous wave, I'm leaning towards the pullback being done. The W-A of W-(W) is questionable on counting and could easily see the first 3 waves being 5 waves instead. If that is the case, I'd lean towards another wave down. Either way, the correction is probably getting close to done.
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%...
📉Hi Traders, Investors and Speculators of Charts📈 ETH is currently following BTC along with the rest of the crypto market into a correction wave. By following Elliot Wave Theory, we can find a target for a potential bounce zone for the current corrective pattern. Ideally, we'd want to see a successful bounce from the 50d moving averages here (green), but a wick...
After plotting my waves to the best of my ability, I do see us moving lower still for a number of reasons. To be honest with yourself, you have to be able to see both sides of the market you're trading and manage risk accordingly. This would be a potential run higher, if these major waves have completed to the down side, even though i think time will show this...
SCENARIO 1: EVERYTHING hinges on the carry trade. If USDJPY goes down, so will yields - making inflation higher and commodities will boom. Of course this is a mistake and Japan (and the whole world) will feel the effects off inflation here since TVC:DXY will plummet also to 97. Then when everyone blows up in the summer sparking a u-turn and the FED realizes...