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Elliotwaveanalysis

#BANKNIFTY Weekly Overview#banknifty Triangle Formation on the lower time frame, high probability of #banknifty touching the falling trendline, before next move. #learning:- Contracting triangles are the most common type of triangle. When they’re in the fourth wave position, they predict an end to the entire trend with one more wave (fifth wave). Rules (these are “hard” rules; they cannot be broken) A triangle always subdivides into five waves. At least four waves among waves A, B, C, D, and E each subdivide into a zigzag or zigzag combination. Wave C never moves beyond the end of wave B, wave D never moves beyond the end of wave C. Wave E never moves beyond the end of wave D (sometimes the Dow reading at the end of a triangle subwave can exceed a previous subwave’s ending value by a small amount as the market approximates an equal level, as it does in ascending and descending triangles (barrier triangles)). (The result is that in the future in time, a line connecting the ends of waves B and D converges with a line connecting the ends of waves A and C.) A triangle never has more than one complex subwave, which is always a zigzag combination. Regards, SG
NSE:BANKNIFTYLong
by subhagghosh
4
PAGEIND possible Elliot wave countsThis stock has completed wave 1 of higher degree wave cycle and now definitely we are in correction as wave 2 of same higher degree wave cycle, in which we are unfolding wave A of one degree lower wave cycle, in which possibly we are in wave iii or wave c of one more lower degree, that means possibly we are in wave iii or c of one higher degree wave A of one more higher degree wave 2, so we can unfold correction pattern as zigzag or as a flat or as an expanded flat as well. This post is not for any types of tips or advisory or any type of trading ideas, this is shared just for educational purpose only I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
NSE:PAGEIND
by RK_Chaarts
2
Banknifty Timepass as Triangle formation In progressIn Elliott Wave this is referred to as Running Triangle whose final E leg pending. E could finish near 41400-350 zones in next session then break above 41680 will trigger rally minimum up to 42400. Analysis will be invalid if breaks 41250 DISCLAIMER: There is no guarantee of profits or no exceptions from losses. The stock and its levels discussed are solely the personal views of my research. You are advised to rely on your judgement while investing/Trading decisions. Seek help of your financial advisor before investing/trading. Investment Warnings: We would like to draw your attention to the following important investment warnings. -Investment is subject to market risks. -The value of shares and investments and the income derived from them can go down as well as up. -Investors may not get back the amount they invested - losing one's shirt is a real risk. -Past performance is not a guide to future performance. -I may or may not trade this analysis --------------------------(((((LIKE)))))-------------------------------
NSE:BANKNIFTYLong
by Niftydirection
BANKBARODA possible Elliot wave countsThis stock has shown almost aligned wave counts from weekly to daily and from daily to hourly and right now its in correction area of some lower degree wave counts macd on hourly chart momentum negative cross done on hourly Price under and below RK's stopline in daily Price made neutral candle under and below 20DMA in daily Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
NSE:BANKBARODAShort
by RK_Chaarts
23
DelhiveryThis stock has given good breakout on daily time frame along with positive divergence in RSI along with macd positive crossover. Also possible Elliott wave counts are suggesting same bias, one can go long with strict stop loss of swing low of 289.90 Overall chart along with possible Elliot wave counts macd positive rsi breakout and rsi positive divergence Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
NSE:DELHIVERYLong
by RK_Chaarts
2
What's next in bitcoin after rallying for more than 40% BTC started it's upside from red wave C 1.236 projection level then started impulse movement although wave 1 was a leading diagonal triangle that's why I got the confirmation for wave 3 targets after wave 1st internal 5th crossed by straight move including multiple green candles rather than one or two big green candles. As we can see wave 3 extended to 2nd target 2.618 with 5 sub waves so we can expect a retracement to 21k-22k in wave 4 (between 0.236-0.382 retracement levels) and then we will move in final 5th wave to the upside.
Short
by leichtsinnig8868
2
Going Short on Banking Stocks? Elliotical Approach to BankNifty.Hello Traders! 1. We see a completed 3rd wave of impulse that started after Lockdown - March 2020. 2. We see a clear zigzag correction for Wave a, marked with red ABC. 3. We see a 3-wave Wave b . The count of wave C of this wave is being shared here for clarity. 4.The most expected target for BankNifty should be around 30500 . This is because we see the possibility of an expanded flat (3-3-5). There is also an important guideline of Elliot wave theory that Wave 4 of a cycle falls very close to the Wave 4 of Wave 3 of the same cycle . A figure is attached for more clarification. 5. The final 5th Wave of the impulse is expected once the C wave of this 4th wave is complete as shown on the chart. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
NSE:BANKNIFTYShort
by UnknownUnicorn27677748
1
Elliotical approach to Nifty50 Long.Hello Traders! 1. We can see an ending diagonal forming on the Nifty50 chart on the 1hr tf . 2. The retracement levels have been mentioned which gives us more evidence of the market following the wave pattern. 3. We see a strong trend resistance of the market. Once the resistance is cleared, we can look forwards to buying calls or selling puts, whatever suits the individual. 4. Let's talk about wave equality . In an impulse, the 3 motive waves (motive wave is just the wave that is going with the trend, i.e., wave 1, wave 3 and wave 5), tend to be in a harmonic ratio . There can be multiple scenarios aka ratios and 61.8% (the favourite of the public XD) is obviously one of them. As we can see on the chart, Wave 3 is almost 61.8% of Wave 1 . This gives us a picture that the possibility of Wave 5 being 61.8% of Wave 3 is pretty high. Of course, that may change, but too high a chance to just ignore. That sets us a target of 19200 to 19300 for Nifty50. 5. Another point that must be noted is that when we put 61.8% as a retracement level on wave 2 and use it as a Fibonacci divider , it also gives us the same target of 19200 to 19300 . This is out of the books and just an observation. 6. The triangle that we see is a questionable . Because we haven't so far seen a triangle form for wave 4 inside a diagonal. But if this works out as predicted, then that should be the most likely picture, a triangle can be there inside a diagonal. And before anybody questions, I have scoured certain books and haven't found any reference for a triangle inside a diagonal. Anybody having a better idea or picture is welcome to comment on it. 7. We also have a two bar reversal on the daily tf . Confirmation for that will be the break of high of the higher candle. 8. And, apart from everything, we work in the field that has infinite possibilities for every individual and hence itself has uncountable possibilities. We just get better at predicting the best possible outcome. So yes, even though the possibility for Nifty50 giving a breakdown , as far as I'm concerned, is very unlikely, it is still there. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
NSE:NIFTYLong
by UnknownUnicorn27677748
Elliotical Approach to USDCAD Long.Hello Traders! 1. We see an Expanding Leading Diagonal for Wave 1. 2. As per the guidelines, the most common level for retracement of a leading diagonal is 78.6% . That is exactly what happened here. We also have a support on the same level. 3. We have a clear invalidation level at the start of Wave 1 . 4. The most expected target for Wave 3 would be 161.8% of Wave 1 as per the guidelines . The target could differ as per more development in price action. 5. There is a bit of a change when concerning the original idea. It has been attached. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
Long
by UnknownUnicorn27677748
MCX Natural Gas – Elliott Wave projectionNatural gas has completed the impulsive cycle at 801 and started collapsing to form the corrective process. In this corrective cycle, the price has accomplished the corrective wave B and started constructing wave C of normal zigzag correction. There are two reversal points for natural gas: 1) Wave C can occur near wave (4) 2) wave C can accomplish its corrective cycle at 219.8 where wave A=C. If the price sustains below the lower band of the channel, traders can expect the following targets: 288 – 275 – 267 . According to Elliott waves, correction can occur near wave (4) of the previous cycle. I already mentioned expected reversal points.
MCX:NATURALGAS1!
by forextidings
1
Elliotical Approach to US30 Short.Hello traders! 1. We see a 5-wave descent of US30 market. This is the beginning of the downtrend that has been expected since our first analysis on 9th January . Ideas attached. 2. The invalidation level is very far. If someone hasn't taken the initial trade on 16th January, best wait for a trade with a better risk reward. Those already in this trade since 16th Jaunuary could risk some for a larger profit. Extensive risk management advised as the protective stop will be very far. 3. At present, there are two variations in count that seem possible. The ABC correction that we see can be wave A of Wave (i) or Wave (ii) itself. More unfolding of the markets required. 4. We have an important resistance zone at 33400-33500 . 5. There is a 38.2 percent retracement level. 6. Even though the market is bearish, we can expect a longer, more complex correction because the market has shown a quick fall of over 1300 points. But, at the same time, not a very deep correction as the bulls have already pushed the market enough for a long time now. 7. Use of Elliotically correct protective stops is advised. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
OANDA:US30USDShort
by UnknownUnicorn27677748
Time and Growth percentage of different waves.Hello Traders! We recently saw the market analysis of Nifty50 using Elliot wave theory. Elliot wave theory can be very accurate when it comes to the market. You can get the analysis wrong, but if you apply the theory correctly, it can help you in more ways than one . 1. As we see on the chart, Wave 1 and Wave 3 were completed in 62 days each . This is not just a coincidence but an actual observation in Elliot Waves where impulsive waves tend to be in equality or in ratio when it comes to time taken to complete each wave. Since, Wave 1 and Wave 3 took 62 days each, it's very probable that Wave 5 will also take 62 days to complete, i.e., 16th March 2023. Now, the question might be, how does this help? As traders, we now know that we have to look for long positions till 16th March 2023 . We know the trend. Trading against the trend is fun, but only when you have enough to lose a little. We also know that the downtrend will begin after 16th March 2023 and hence, we will look for shorting positions thereon. Isn't the date a bit too convenient? Why is Mid-March so hyped ? 2. Let's come to Growth percentage. The market grew around 18% in Wave 1 and around 12% in Wave 3 . This gives us a ratio of 1.5 and that gives us a value of around 8% for Wave 5 . The Nifty50 market will grow 8% which gives us a target of 19200-19300 for Wave 5, again . When dealing with Elliot Waves, we put the most number of 'coincidences' possible in one single bag and then go for the bag. Just too many reasons to expect a good, nice fall from 19200-19300 for a very trending market. 3. Previous analysis attached. Do refer if needed. The world moves in harmony. And so do the markets. All they need is an observer. Be one. Happy observing! Profits, Market's Mechanic.
NSE:NIFTY
by UnknownUnicorn27677748
2