The Short Setup is as follows:
Elliot Wave Standing Point:
Rise from Covid Lows can be marked as a Diagonal in the form of ABCDE and Wave E just completed in September
For the Short Term as per Daily Time Frame, we can see the following Observations:
1) RSI gone below 40 ✅
2) ADX at 24 rising, DMI in Sell Mode ✅
3) Super Trend (10,3) gone in Sell Mode ✅
Hey.. What do we get if we analyse one chart with two different theories ?
Is it a good idea ?
We use different techniques and methods to analyse a chart.
Some traders use chart patterns, some use moving averages and others use any other technique.
We all did the analysis to determine the trend of that instrument.
What if we use two different theories for the...
BEARS to Attack SRTRANSFIN!
A Head & Shoulder Top Pattern is visible
EW count says 1 of (C) done as the 'v waves' marked
2 of (C) done as rise from 23rd August Low is overlapping
Now 3 of (C) down should start
STOP LOSS > 1400
I see Indian Nifty at 14200 (Logarithms) and 13800 (Regular) scale
Bears will be super active Below 17070 levels & long will be active above 18000 levels and I assume 95% probability of Nifty going to these lower levels in 60-70 days !!
* for educational purpose , Trade at your own Risk !!
Elliot Wave Counts are evident in Chart:
Rise from 23rd August is an ABC with C being an Ending diagonal, and on Friday there was a Clear Breakdown of the same.
Downside Target open to 372 - 360 (Lower BB)
Stop Loss > 410
Reasons for Short as follows:
1) Classic Head & Shoulder Breakdown Pattern
2) Price trading near 52 Week Low Zone
3) IT Sector is the Weakest and Leading the Bear Market
4) Global Recession means Slowdown in Revenue for these IT Companies
Stop Loss above 1420
T1= 1320/ 1300
T2= 1250 ish zone
⚠️As we can see head & shoulder patter formation on weekly chart as we r in down trend it is possible BTC reach unexpected lows so be careful trade according to Ur TA 🙏
i am sharing it as per my knowledge
i hope it may help someone
and if someone interested to share there ta with me they can
because I believe in sharing knowledge
Yours Lovingly SAK
Hello, us dolar curency index trading @113 on harmonic level 1.618 can correct if breaks can go upto @120 & @127 (targets identified from swing high & harmonic xabcd patern level 1.131) above @113 indian stock market will fall. Fiis puling out money from stock market. CAPITALCOM:DXY
Gail is at the support and
Bollinger Bands are squeezed and the breakdown of the lower band.
Macd is Bearish Crossover
RSI is below 40
So short near the close of the candle for the targets of 84 and 78.
- So Wave E high did not get taken out all this while even though, hence Setup still valid
- A 5 wave Fall (Wave i) on Hourly Charts can be Counted from Wave E high
- A 3 Wave Corrective Rise (Wave ii) in the form of an Expanded Flat retraced 0.618% of the Fall from Wave E high
- Price did Wave i and then ii, and now iii on Downside has Started📉
Wave i= Wave iii...