Shooting Star is a bearish candlestick reversal pattern. It signifies the end of an uptrend and the potential start of a downtrend. Its opposite is the Morning Star.
When analyzing this pattern, we should observe if the confirming candle closes within the lower third of the range formed. This condition acts as a filter when deciding whether to initiate a trade or...
The Head and Shoulders, from now on referred to as H&S, is a chart pattern used in technical analysis of stock markets. It is a pattern that indicates a reversal, signaling the end of a trend and the beginning of a new trend in the opposite direction.
It is one of the most important and widely used patterns due to its high reliability and the number of required...
Hello Friends,
Here we had shared some major points and characteristics of Zigzag Correction pattern of Elliott waves.
Also we had shared real example chart study of zigzag pattern as a case study of NaturalGas, in which their are some principles and guidelines, which are perfectly going through in chart of NaturalGas.
Principles and Guidelines of Zigzag...
Hello Friends,
Here we had shared some major points and characteristics of Expanded Flat Correction also known as Irregular Flat Correction in Elliott waves.
Principles of Irregular / Expanded Flat correction pattern
1) 3 waves corrective pattern which is labelled as A-B-C
2) Subdivision of wave A and B are in 3-3 waves
3) Subdivision of wave C is in 5...
MCX:GOLD1!
In past, we have discussed how to know the quality of a trend and how to know a chart pattern's extrinsic nature according to the market phase.
If you haven't read that then I want you to read that before to have a better understanding of this idea.
Let's get started!!
How to determine the trend or consolidation through the wave cycles and degrees.
...
Hello Traders!
1. Today, we will discuss the basic market movement structure, elliotically . A recent comment on one of my ideas published pointed (indirectly) towards the need for a basic understanding of Elliot Waves for the general trading public.
2. The market moves in consistent impulsive and corrective structures . Waves 1, 2, 3, 4, and 5 together form...
Confluence doesnt mean some indicators and price action .. confluence conditions can be seen everywhere from structure to entry
The above structure shows you confluence with 2 major concepts in trading world HARMONICS and ELLIOT, shows you the possible areas where you could see confluence of both
The 3rd wave could some times be BAT pattern or DEEP CRAB...
Nifty corrected in a downward Elliot 5-wave pattern. The impulse waves 1, 3, and 5 are equal in length.
The Elliot waves are complete only at the end of the 5th wave of the 5th major wave.
This is also confirmed by the divergence in RSI.
The market is likely to continue its original uptrend after the completion of the downward correction.
Wave Volume Divergence Indicator is being introduced In this video, I explain how to use the indication and the purpose behind it.
Please forgive me if there are any mistakes in this video as I am not an expert speaker.
I'm expecting this video will make wave volume divergence indicator easier for you to understand. Please share this video and indicator with...
Indian energy exchange is now about to complete it's correction ,it is doing a double correction in major wave IV, fifth to the upside is still due. We can expect correction to complete near 124.85-125.85 and then final V wave target will be 407.
And I'm expecting fifth to be extended because normal projection limit of wave V are 0.382 & 0.618 but as you can see...
Hello Friends, here we had shared just an observation on correlation between NIFTY and DXY which are clearly showing opposite directional runs from last couple of months, also we are assuming the wave counts on both, which are suggesting same patterns ahead along with good support by this correlation, this increases good chances of winning probabilities of our...
NSE:NIFTY NSE:CNXMIDCAP NSE:CNXSMALLCAP Diverging for couple of days. Ideally the broad market shall start picking up.
While Nifty is getting selling pressure near the Highs today. Midcap and Smallcap Index getting buying near support zone.
Midcap and Smallcap shall start picking up from here on.
The Broader Market Indices must converge with the Mainstream...
Channels have been basis for wave analysis. Drawing them on price data offers support & resistance offering good trading opportunities.
One such channel drawn from the bottoms of 37950 & connected with 39258 lows offered support to the opening low of 40288 as of today - 14th Sep 2022
Prices rallied sharp upside to new highs above 41600+ which is very close to...
Disclaimer:
This is not an Investment Advice. Trading leveraged products carries a high degree of risk and you could lose more than your initial deposit.
"Bull markets are born on pessimism, grown on skepticism, mature on optimism and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to...
THE INTRODUCTION
As you all know the waves always moves in zig zag fashion, either it moves up or it moves down, but the pattern always remains same i.e. Zig zag.
So, the most important question is, with which method one can define the trend or some meaningful pattern, which can help anyone to plan his trade & other opportunities.
There are multiple technical...
Tried to capture Elliott Wave Theory Patterns:-
Elliott Wave Theory is named after Ralph Nelson Elliott (28 July 1871 – 15 January 1948).
3 Cardinal Rules of the Elliott Wave Theory
Rule Number #1: Wave 3 can NEVER be the shortest impulse wave
Rule Number #2: Wave 2 can NEVER go beyond the start of Wave 1
Rule Number #3: Wave 4 can NEVER cross in the same...
Diamond Chart Pattern in Classic Technical Analysis is associated with Trend Reversal.
However, in Elliot Wave it may act as a Trend Continuation pattern. In this case the pattern mostly occurs in wave B.
Since this is a very powerful pattern which occurs rarely, should not be missed as gives a very fast move.
The pattern occurred in Adani Enterprises Hourly...
This Nifty Future Chart i have used in this Educational Tutorial is to summarize how many parameters keep playing in disguise on Daily Charts which is possible to track properly only in Short Term Trades .
The Trade Setups for Longs / Shorts are those which i have personally Taken in markets in recent times for short term setups . The Overall Risk Reward is...
