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Elliott Wave

wave 4 primary ending soonwave count Cycle-1 Primary-5 Intermediate-4 Minor-C Minute-5 Target zone for Minor-c is shown by taking 38.2% & 50% retracement of wave-3 intermediate. If price falls in the target zone and gives reversal candle in the form of Doji,Hammer,Bullish piercing or Bullish Engulfing followed by a close above high of reversal candle then we can assume intermediate wave 4 has ended as stock seems to have formed a support/base @ 118-120 zone,there is 50 % retracement of wave 3 @ 118. Further wave 5 target is coming between 150(38% extention of wave 1-3 from wave 4 end)-169(61% extention of wave 1-3 from wave 4 end) if wave 4 terminates between 118-120. Here we can see asymmetry between intermediate wave 2 and wave 4 in terms of price and time, wave 2 being shallow and short and wave 4 being dip and long. All in all one can look for a trade setup by looking @ following factors: 1)Price approaching in identified wave target zone. 2)After price fall's in target zone one should look for reversal candle. 3)After a reversal candle on next day,once price cross's reversal candle's high one can take trade and open 30% position,if it close's above reversal candle high take rest of the position and keep a stop-loss of reversal candle low on closing basis.
NSE:SAILEducation
by UNDERDOG-29
2
wave countscycle: wave 1 Primary : wave 4 Intermediate : wave C Minor : wave 5 Target zone for Minor 5 @49.55 : 100% extention of intermediate A from B top @47.05 : 61.8% retracement of primary wave 3 @44.35 : 123.6% extention of intermediate A from B top If price goes below 44.50 then it would invalidate this count,as wave 4 cannot enter wave 1 zone. Confirmation Sign's for end of primary wave 4: 1)Further from here in the target zone box if we get a reversal candle in the form of hammer,bullish pericing,bullish engulfing 2)This should be followed by a close above it's high on the next day would suggest end of primary wave 4 3)Additional confirmation would be in the form of breach of upper channel band along with volume 4)An momentum divergence on RSI or MACD 5)Price crossing and closing above 10 day SMA. If above scenario occurs one can get long with the closing stop of low made on the reversal candle in the target area box.Target for primary wave 5 on the upside through wave 1-3 extention from wave 4 low's is coming @ 72(38.2% extention) and 86(61.8% extention) Impulse count or labelling shown here is done by following basic elliot wave impulse rules.
NSE:BHELEducation
by UNDERDOG-29
elliot wave labellinglabelling done using following rules for impulse 1)wave 2 should not retrace wave 1 entirely 2)wave 3 cant be shortest 3)wave 4 cant enter wave 1(except diagonal) for flat with truncated wave c 1)wave b should at least retrace wave a by 80% 2)wave c should at least reach 61.8% extention of wave a. for zigzag with truncated wave c 1)wave b should not retrace more then 61.8% wave a 2)wave c should atleast reach 61.8% wave a extention. correction completion 2 stage confirmation rules 1)stage -1 confirmation: 0-b trendline must breach in less time than wave c took to form 2)stage -2 confirmation: wave b should also be taken out or crossed in less time than wave c took to form. Labelling information cycle degree: yellow primary degree: white intermediate degree: red minor degree: green apply fib rules for wave 2,3,4,5,b,c waves targets and trade accordingly by following a trade plan which gives entry and exit signals with target and stop-loss and follow risk management for effective trading results.
NSE:ICICIBANKEducation
by UNDERDOG-29
11
Mean Reverting versus Non–Mean Reverting ApproachesMean Reverting versus Non–Mean Reverting Approaches The type of technical studies employed also depends on the approach taken by traders and analysts with respect to their personal preferences and biases regarding the action of price in the markets. Basically, traders either adopt a contrarian or a momentum‐seeking type approach. Being more contrarian in their approach implies that they do not usually expect the price to traverse large distances. In fact they are constantly on the lookout for impending reversals in the markets. In essence, they expect price to be more mean reverting, returning to an average price or balance between supply and demand. Those that adopt the mean‐reverting approach prefer to employ technical studies that help pinpoint levels of overbought and oversold activity, which includes divergence analysis, regression analysis, moving average bands, and Bollinger bands. They prefer to trade consolidations rather than trend action. They normally buy at support and short at resistance. Limit entry orders are their preferred mode of order entry. Conversely, being more momentum seeking in their approach implies that they usually expect the price to traverse large distances and for trends to continue to remain intact. They are constantly on the lookout for continuation type breakouts in the markets. In short, they expect price to be more non–mean reverting, where demand creates further demand and supply creates further supply, both driven by a powerful positive feedback cycle. Those that adopt the non–mean reverting approach prefer to em ploy technical studies that help pinpoint breakout or trend continuation activity, which includes chart pattern breakouts, moving average breakouts, Darvas Box breakouts, and Donchian channel breakouts. They prefer to trade trends rather than ranging action. They normally short at the breach of support and long at breach of resistance. Stop entry orders are their preferred mode of entry into the markets.
XETR:DAXEducation
by Dino_Naidu
wxy,second correction y.use wave B bounce to exit long.After momentum divergence and 2-4 trend line breach bank nifty trend has been side ways to downside. so far it looks like bank nifty is making double correction WXY, of which wave W and X is done and Wave y sub-wave A is done and Wave y sub wave B is going on,which should be used to exit long's previously hold. Now where this wave B will end cannot be predicted,but if current bounce manages to clear 61.8% retracement of wave A(one candle close above the level) than we can ascertain a this correction to be a Flat one.From there on depending upon the higher retracement levels sub-form of Flat can be derived. In either case of Flat or Zigzag one should avoid longs and if previously holded then it should be liquidated as wave C decline can take prices to wave A low and even break it.
NSE:BANKNIFTYEducation
by UNDERDOG-29
Mysterious nature of market.Where will B end??????Negative divergence on RSI for wave 3 and wave 5 was indicating weakness which is confirmed when wave 2 & 4 trend line got broken in less time than wave 5 took to form.However wave 4 low's has not been taken taken out in less time than wave 5 took to form indicating current fall is correction and not major trend reversal. Question is what form will this correction take. 1)Zizgag 2)Flat(If flat than which flat) To simplify this question if prices manages to retrace 61.8% (15747) wave A fall, then we can rule out the possibility of Zigzag,if not than we can rule out the possibility of Flat.Hence key level to watch out for is 15747.If we get one candle closing above 15747 than we weill get confirmation for Flat correction,which will open 3 scenarios 1)Wave B retracing wave A between 100-123%,then following wave C fall will retrace wave B more than 100%,meaning wave A lows of 15537 will be broken.This will then be called irregular flat correction. 2)Wave B retracing wave A between 81-100%,then following wave C fall can retrace wave B by less 100%(incase of C failure),between 100-138%(incase of comman flat),more than 138%(incase of elongated flat) 3)Wave B retracing wave A between 61-80%,then following wave C fall can retrace wave B by less than 100%(incase of double failure),between 100-138%(incase of B-failure),more than 138%(incase of Elongated flat). For Zigzag scenario,current wave B bounce terminating below 15747, will open 3 scenarios. 1)Wave C retracing 61.8% of wave A from wave B top(incase of truncated Zigzag) 2)Wave C retracing 100% of wave A from wave B top(incase of normal Zigzag) 3)Wave C retracing between 100-161% of wave A from wave B top(incase of elongated Zigzag). Conclusive comment's: As of now we are in a correction form of which is unknown,described scenario's will help in identifying correction forms and sub-forms depending upon which action can be taken at appropriate levels. In either case(Flat or Zigzag),one should remember wave C fall is yet to happen and can commence anytime hence all longs should be liquidated in current bounce at appropriate levels and should wait for right opportunity to re-enter. PS:If i have missed anything do let me know.
NSE:NIFTYEducation
by UNDERDOG-29
1
FINDING POTENTIAL SUPPORTMETROPOLIS COMPLETED 5 IMPULSIVE WAVE ON MINOR DEGREE FOLLOWING WHICH IT IS CORRECTING RIGHT NOW.POINT IS WHERE IT WILL END AS STOCK IS IN CLEAR UPTREND AND GETTING LONG IS IDEAL TRADE ON THIS STOCK TO TAKE AS WAVE 3 OF INTERMEDIATE WILL BE STIPPER AND RAPID. PRICE ZONE OF 2227-2211 CAN ACT AS GOOD SUPPORT REASON'S ARE AS FOLLOWS 1)PREVIOUS MULTIPLE HIGH'S WHICH ACTED AS RASISTANCE CAN NOW ACT AS SUPPORT WHICH COMES NEAR THE MENTIONED PRICE ON CLOSING BASIS. 2)50% RETRACEMENT OF ENTIRE SWING COMES@2227(WAVE 1),WHICH IS WHERE GENERALLY WAVE 2 CORRECTION END. 3)TODAY'S HIGH WHICH BRIEFLY CROSS 62% RETRACEMENT OF WAVE A@2509,REVERSED MEANING WE ARE DONE WITH WAVE B AND WAVE C PROJECTION OF 123.6% WAVE A FROM TODAY'S HIGH COMES @ 2211. ONE SHOULD LOOK FOR A BULLISH CANDLE IF PRICE COMES BETWEEN 2227-2211 ZONE.IF WE ALSO GET GOOD VOLUMES ALONG WITH BULLISH CANDLE IN THIS ZONE THAN THAT WOULD BE ADDITIONAL CONFIRMATION.
NSE:METROPOLISEducation
by UNDERDOG-29
5
Completion of wxy.will it be wxyxz or new impulse????Scenario-1 wxy done,currently we can expect either another wave x in the form of ABC or this could be start of an new impulse. As of now stock has retraced 61.8% level of 1493, after giving up move till 1557.Now where this retracement will end cannot be predicted,but generally if 61.8% retracement level is considered to be a good support,hence i am projecting wave c from today's low which comes @1600 along with entire 78.6% retracement of entire 7 swing's. Scenario-2 If instead this downfall continues and 1450 is broken on the down side than we can say that wave x has already been made and third correction in the form of wave z will commence DISCLAIMER:I AM AMATEUR ELLIOT WAVE THEORY PRACTITIONER AND MAY TAKE POSITION ON SOME IDEAS THAT I POST.ANYONE READING MUST UNDERSTAND THE RISK AND NOT JUST ACT UPON MY VIEWS.
NSE:HDFCBANKEducation
by UNDERDOG-29
1
Potential Nifty Top With Fibonacci and Elliot Wave TheoryDISCLAIMER:There is no guarantee of profits nor exceptions from losses. Technical analysis provided on the chart is solely the personal views of my research. You are advised to rely on your own judgments while taking any investing/Trading decisions. Past performance is not an indicator of future returns. Investment/trading is subject to market risks. Seek help of your financial advisors before investing/trading. I may or may not trade this analysis. Details in description. -------(((((Please LIKE & Donate Coins to support my analysis)))))------- Plotted Elliot Waves on Nifty Monthly Chart so lets find out potential top 1. Nifty Top Based on Elliot Wave Theory where Wave 1 = Wave 5 a. Consider Wave 1 start from 279 which is lifetime low of Nifty then wave 5 should 13589.2 Where wave 1 height is 6078.1 + 7511.1(low of Wave 4) = 13589.2 b. Consider Wave 1 start from 0 then Nifty wave 5 top should be 13868.2 Where Wave 1 height is 6357.1 + 7511.1(low of Wave 4) = 13868.2 2. Nifty Top Based on Elliot Waves and Fibonacci extension where Wave 5 is equal to 0.618 of Wave 3 which is 13800.95. The next Fibonacci extension would be 0.786 which is 15510.8 which is less likely to happen.
NSE:NIFTYEducation
by Niftydirection
5
Elliot Wave Projection of Eicher MotorsA possible projection of Elliot Wave for Eicher Motor stock. Stock is making impulse wave expecting it to break all time high. Just for educational purpose. DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The investment advice provided is solely the personal views of my research. You are advised to rely on your judgement while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisor before investing/trading. I may or may not trade this analysis --------------------------(((((LIKE)))))-------------------------------
NSE:EICHERMOTEducation
by Niftydirection