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IS BRITANNIA THE HOTTEST INVESTMENT OF 2023?In the previous idea, we initiated a short position in NSE BRITANNIA to trade wave C of wave (4). Price reached all the given targets. - NSE Britannia – The Last Move of Correction Timeframe: Daily NSE BRITANNIA has accomplished wave C of wave (4) and started rising for an impulsive wave (5). This corrective wave (4) has a 38.2% retracement, one of the most common retracements. According to the Elliott wave principle, the impulsive cycle can only confirm after the breakout of the previous corrective wave. Price has broken out the correction channel, but wave B must break for the 5th wave to form. If the price breaks out wave B at 4407, traders can trade for the following targets: 4456 – 4500 – 4558 +. However, failure will continue its corrective formation and lead to a new low. In case of failure, we will change our position with selling targets.
NSE:BRITANNIALong
by forextidings
8
EWT – Will The Bears Prevent BANKNIFTY From Reaching ATH?Timeframe: 1h BANKNIFTY(SPOT) has experienced a strong upward movement from 38613 over a period of 12 weeks, indicating an impulsive cycle. The price has completed a motive wave (3) and is now in the process of developing a corrective wave (4). The current price movement is part of a corrective structure, as it has broken below the acceleration channel and is trading outside of it. Upon closer examination of wave (4), it appears to be forming a double formation pattern. Bank Nifty has completed wave X at 44489, which is a sub-wave of wave (4), and has started forming wave C of wave (y). The overall wave perspective suggests a bearish angle. There are two potential levels where wave C could complete its formation: Wave C could end near 161.8% of the length of wave a, around 43180.9. Wave C could end near 161.8% of the length of wave W, around 43238. Traders can consider selling after the breakdown of wave a at the given price levels. They have the option to extend their target to sub-wave 3, which is expected to be around 42822. However, it is important for traders to confirm the development of wave (5) using percentage or Gann filters after the completion of wave (4).
NSE:BANKNIFTY
by forextidings
6
NSE ABFRL – Motive Cycle BeginsTimeframe: Daily NSE ABFRL has been forming into the corrective formation for more than 15 weeks. This manner of the price is corrective because it is falling steeply into the channel. As per the rule of the channel, the corrective wave respects the channel because they don’t have the power to break out from the parallel lines. The impulse breaks the channel, whereas the correction forms within it. Currently, the price has accomplished wave 5 of wave (C) at 240 , and the price started lifting near the upper band of the regression channel. This breakout can be a holy grail for bulls to reach near wave (B). Safe traders can wait for the retracement to ride the impulse.
NSE:ABFRLLong
by forextidings
15
XAUUSD Pre-Prediction till 1st March 2022As per my calculations and previous chart history, I am going short but with tight stop loss according to my risk management and I will set a buy stop in that case.. All main points are also projected on the chart... Please do your own research before taking any decision of trading in this volatile market... Local Support @1920.079 and Sell Stop @1929 with TP1 @1916 TP2 @1910 TP3 @1904 TP4 @1900 Alternatively Local Resistance @1933.028 - 1936 if broken then TP1 @1938 TP2 @1945 TP3 @1953 Major Resistance @1949.039 If broken then this analysis would be invalid
OANDA:XAUUSDShort
by ForexTrader4all
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
EWT – Is Natural Gas Prepared for a Reversal?In our previous article, we discussed impulsive wave C and its continuation. On 20 January 2023 , Price achieved our all given targets. Click here - ----------------------------------------------------- Timeframe : MCX Natural gas has accomplished the corrective wave B and started falling for impulsive wave C. Price has given a reversal from previous wave C, but it is no conclusive evidence that it has completed wave c. When it comes to confirmation, Traders should watch the level of 313 . If the price breaks out the 313 , it will enter into the parallel channel. Traders can buy for the following targets: 321 – 340 – 366 . Don’t forget prices are moving outside the channel, which is a negative point for bull traders. Bearish continuation is possible if the price sustains below wave (4). I will update further information soon.
MCX:NATURALGAS1!
by forextidings
2
usdjpy touching its major supportUsdjpy All jpy pair touching their lows during last fundamental jpy broke its zone of 130 which was acting as a support for one month.Now for this week we can see price movement within a descending channel and very soon price will test again a solid support zone of 126. Where we will see a little bullish move upside but remember for good and healthy trend move price should break this either on both side.. Around 126 zone all support acts like horizontal and and vertical if price hold this support zone after retest we can take entry within a following channel
Long
by forexomni
NSE AAVAS: Impending AdvanceNSE AAVAS accomplished wave (5) of wave C at 1698 and started an impulsive cycle from the parallel channel's lower band. Prices are forming into the downtrend channel, and wave (4) breakout can give a steady uptrend for bulls. Fibonacci Clusters: 1) Cluster range of 1749 - 1738.6 . Trend-based Fibonacci extension of 0.5 at 1749, and 1.618 reverse Fibonacci of 4th wave at 1738.6 . 2) Fibonaaci externtion of 0.618 at 1683.6 . Trading Plan: If the price sustains a cluster range of 1749 - 1738.6, traders can trade for the following targets: 1835 - 1885 - 1945. Safe entry is possible after a pullback. Invalidation : Below wave (5)
NSE:AAVASLong
by forextidings