Expending triangle pattern in rainbowAs the name suggest from expanding triangle pattern. Both wave consist of zigzag zigzag forms. The distance travelled by each subsequent wave increases in length with the high profitability in each wave.
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#Ethereum Super Bullish Elliott Wave Analysis Towards $10,000#Ethereum Super Bullish Elliott Wave Analysis Towards $10,000 Target
1️⃣ ((C)) Zigzag Pattern: On the ETH/USDT 1D chart at the cycle degree, wave ((C)) of a Zigzag pattern appears to be unfolding. The projected target for this wave is $3,250.
2️⃣ Diagonal Wave 4: On the $ETH1D chart at the primary degree, Wave 4 down of an ascending Diagonal is currently in progress. The anticipated target for this corrective wave is $3,050.
3️⃣ Diagonal Wave [ ]: On the #ETH 1D chart at the Supercycle degree, Wave [ ] of an ascending Diagonal seems to be developing. The projected target for this significant wave is between $9,000 and $10,000.
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Expected up move.here 2 nd wave is flat correction.
It seems it has completed its 3rd wave
and fourth wave has ended at the center line of
the base channel.
4 th wave appears to be zigzag.
Up side targets are shown in the chart.
In the negative sentiment prevailing it is very tough to have positive side for hdfc bank.
stop loss is must here though it is nota trading recommendation.
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Bitcoin - 2 days left before halvingBitcoin goes through 5 C beats in the double correction wave cycle in H4: The bit runs a zigzag x flat x zigzag wave, a double wave that is rarely seen in Bitcoin's strong upward cycle in previous beats. Bit actually did a pretty good job as a sentiment maker, making quite a few people "frustrated" about this season's cycle. Countdown to Bitcoin Halving
wave V(5) of 5 ?The previous analysis and scenario 2 became invalid , and I think this scenario is currently the only active scenario on this currency pair. part of 3 of a zigzag is an impulse with (5) wave. Now we are in wave V(5) of 5 , which is a terminal impulse . This wave itself is an zigzag (abc) and we have entered part of 3 of it now and we expect it to end before the range of 156. Therefore, short-term buying is a better option.
Primary Wave B rise ending soon.Cycle wave 1 range: 11108-39444,Currently We are in
Cycle wave 2(Not shown)
Primary wave B(Red)
Intermediate wave C(Orange)
Minor wave 5(White)
Going by the internal structure it seems like cycle wave 2 is taking a form of zigzag correction where in we are almost done with primary wave B.Going ahead we can see a impulsive fall in the form of primary C which can take prices between 25200-25300 as we are having 50% retracement of entire cycle wave 1 at 25277 and 61.8% extention of primary wave A for wave C is coming at 25307.On the upside this primary wave B(for a zigzag) should retrace 61.8% primary wave A which is coming at 34381,but here we have stopped around 50% retarcement coming at 32816.Adding to it we also have 138% extention of wave intermediate wave A for wave C coming at 33107.Although we have penitrated both the levels on the upside but it seems like rally that started from 27000 is loosing steam as we can see a rising trendline has been breached connecting minor wave 2 and wave 4 pivot lows.
On the downside a close below 31400 can be a confirming evidence for the end of wave B rise.
Disclaimer:This analysis is for my future reference no position should be taken solely on its basis.
USDINR USDINR 1 HRS Time Frame
Validation level 83.42
Zigzag Formation on going (Zigzag Structure A5-B3-C5) before next impulse move
Wave ((A)) of Minute degree internal five waves or subdivision (i),(ii),(iii),(iv),(v).
Wave ((B)) of Minute Degree expended triangle because internal structure is (3-3-3-3-3) nature, of Wave ((B))
I anticipate wave ((C)), tagging of wave ((A)) before going to next move because this structure does not allow to go for next impulse due to incomplete correction or wave ((B)) indicate to me expended triangle so I anticipate (i),(ii),(iii), (iv), (v) for down side which may be complete in 82.21 to 81.76 area and I again anticipate for next impulse when reached around my buying area 82.21 to 81.76.
Conclusion my main idea for first to short USDINR with stop loss 83.42 and my shorting trade cover in 82.21 to 81.76 area and again i see buying setup in this area.
Declaimer it is my personal research before taking any trade please advise your financial adviser i am not SEBI registered financial adviser.
ICICI Bank 1hrs time frame EWT AnalysisICICI Bank EWT Analysis
Validation level 941.25 dated 12.07.23
Minor degree 1 from 941.25 to 1008.70, subdivided by minute degree ((i)) ((ii)) ((iii)) ((iv)) ((v)).
Minor degree 2 which is corrective wave subdivided minute degree ((w)) ((x)) ((y)) which is
double combination of corrective wave which is called double correction of
(a) (b) (c). It does not break starting point of Wave 1. (price 941.25) and double
correction is up to 85% range (price 946) of wave 1.
Minor degree 3, I anticipate minimum 100% up tp 1040.
Minuette degree validation level 946 dated 18.08.23.
Minuette degree wave (i) completed from 946 to 982.40, dated 24.08.23
subdivided by subminuette degree i ii iii iv v.
Minuette degree wave (ii) is corrective wave (w) (x) (y) completed 85% of wave (i)
price 950.80. It does not break wave (i).
Wave (w) is Regular flat a b c.
Wave (x) is link wave
Wave (y) is Zigzag a b c
Minuette degree wave (iii) I anticipate minimum 100% or 1.618% (price 987- 1010)
key level 970 falling trend line or b point of zigzag
Thank You
Disclaimer
it is my personal research before taking any trade please advise your financial adviser. I am not SEBI Registered Financial Adviser.
NSE HEROMOTOCO: Are Bulls Strong Enough to Sustain Impulse?Timeframe: 30 min
Brief analysis:
HEROMOTOCO has started a five-wave impulse cycle from the low of 2745.5. Price has accomplished wave Y of wave (4) and started impulsive wave (5). Buyers will have an opportunity with a captivating risk reward to ride the trend after confirmation for the following targets: 3167 – 3210 – 3260+ .
In-depth analysis:
NSE HEROMOTOCO has formed an impulsive cycle after an extreme low. In this case, the security is trading above the 20,50, 100, and 200 EMAs, which indicates that the bulls are in control. The formation of wave two was a running flat which retraced 0.618% of wave (1) at 2795. The third wave was an extensive wave that extended 3.618% of wave 1.
Wave 4 has formed a double zigzag formation with wave W-X-Y, in which wave W was a zigzag, and wave Y is an expanding triangle. The retracement of wave (4) is 0.382 of wave 3. Currently, the price has broken out and traded above wave d, which signals that the big move is about to unfold.
Corrective structure always holds by either wave X or B-D trendline in expanding triangle. The price can take a retracement if the demand is growing with low volume. If the price breaks out at 3131, traders can initiate a long position for the following targets: 3167 – 3210 – 3260+ . The setup will be invalid after the breakdown of wave e.
Target measurements:
100% Reverse Fibonacci of the 4th wave at 3208, and 38.2% extension of wave 1 through the 3rd wave at 3212.
50% Fibonacci extension of wave 1 through 3rd wave at 3261.
Nearby high of wave B at 3167.
We will update further information soon.
NaturalGas Pull-back is to start as per Elliot Wave AnalysisAfter sharp fall from top of the wave 5 or we can say top of June month, it has fallen in five subdivided pattern as a wave A, which clearly shows that correction is in zigzag pattern, we all know some basic rules for zig-zag correction, that it comes in three subdivisions like A-B-C, and wave A always subdivides into an impulse or leading diagonal, and wave B always subdivides into a zigzag, flat, triangle or combinations, so here we are assuming that wave A has almost at the wedge of completion, and possibly wave B his ready to start as a A-B-C towards north directions, which can lead towards 61.8% of recent fall (wave A), which is near $7.571 or more towards $7.976, on the way down $5.30 is a support area to watchout for. However, pullback will just be a counter trend rally and once wave B rally is completed, then wave C will unfold, and decline of wave C should probably be equal to wave A.
Overall scenario
Sub divisions in wave A
Fibonacci retracement levels
Trigger point
Can be like this as per rules
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.
LIC Housing Finance on the move after the correctionAll details marked in the chart - some salient points are :
1. The non limiting triangle as the X wave indicating the end of the complex correction.
2. The thrust down within prescribed limits of the longest leg of the triangle.
3. The zigzag exactly hitting the 0.618 level of the previous 5 wave move.
4. The thrust creating the truncated zigzag .
all indicates reversal…
So expecting an immediate target of 395 + and further beyond
This is for educational purpose only
EW- Bajaj Finserv make rally very soon.. (Long position)Educational purpose only:
Here's Bajaj Finserv based on analysis Correction phase of this stock will be end soon...
Why ? The reason is wave 4 of a (((3))) has been complete with Zigzag correction... Till wave A,B correction has already completed wave C correction currently going on....
Support level mentioned in charts
Wave (5)= 0.681 of W3 &
wave ((A)) =((C))
both level are meet in same levels 14750-14830
Daily time frame chart can you see Zigzag correction of ABC
ICICI is preparing to be accomplished with it's 5th wave !This is ICICI monthly timeframe chart, which has a major trend as an uptrend.
In this, 1 to 4 waves have been formed and to complete the impulse module, the 5th wave is going to be made.
The third wave is extensive. The wave count of it is a bit unclear. When we count the minor waves of the 3rd wave, the 4th wave of minor waves is overlapping. But if we see the big cycle, the 4th wave is not overlapping.
In the 3rd wave, if we connect the points of it we can see an expanding diagonal like shape. But we know the rules that 3rd wave is always an impulse, diagonals cannot be formed in it.
Parallel Channel :
I have drawn a parallel channel. In this, supply and demand are equal, that is why there is no excess formed up here. Sellers and buyers, both are satisfied with the price.
The upper boundary and the lower boundary are acting as strong support and resistance level.
On the upper boundary, the price has touched only once, the second time it is going to. We can not take it as valid, because according to the resistance line rules, the price must touch the line twice, and the third should be touching the line in the future.
Fibonacci Retracement: The 2nd wave retracement is 100% of the 1st wave. The 3rd retracement is more than 161.8%, which is why it is an extended wave. Its retracement is 2.618. The 4th wave retracement is 0.5%. And it is not overlapping the 1st wave.
Reversal and Pressure:
I have mentioned 5 points of the price here with connecting a trend line. There is a reversal which is converting selling pressure into buying pressure. In every reversal, we find more volume than average volume. In this, we can see an engulfing pattern, spinning top, wick rejection, and piercing pattern.
After this, I have mentioned a few price points. There are pressure and reversal which is converting buying pressure into selling pressure.
Elliott Wave last move expectation:
Here the 4th wave is retraced at 0.5% of the 1st wave and it is formed. If the current move is the 5th wave, then the 1st and 5th wave distance will be equal. That is the minimum count of it. If the 5th wave can not cross the 3rd wave, there will be a truncation. The 5th wave will be called the truncated 5th wave.
If there is less momentum in price extreme, the 3rd wave of the minor waves acted as support in the previous reversal, it will act the same as before with providing support to the price. This is just an assumption that the 4th wave is formed. But if it is done, it could make a triangle or a flat zigzag.
If you trade in this situation, DO NOT forget to place the stop loss.
To check the retirement of the 5th wave, I have used Fibonacci Retracement and a trend line. If the 4th wave is formed, and the 5th wave is not truncated, the price would travel 78.6% to 100%.
By using a trend line, I am drawing a resistance line to measure the possible ending of the 5th wave.
With the trend line and Fibonacci Retirement, we can see the target will be 78.6%. ONLY if all the situations are fitted well.
According to the price action rules, the price will touch the upper boundary to get crossed out of the parallel channel.
Ichimoku Analysis: Tenkan and Kijun :
Tenkan and Kijun, both were flat and the price was making a consolidation area. The price extreme is breaking Tenkan and Kijun.
We know that Tenkan provides minor support and Kijun provides strong support. When these both were flat, it was giving a selling signal. But we know that the price was consolidating so it was a fake selling signal. This fake signal has given a clue that the cloud was below the price. The Chikou was free above the price and cloud.
The KUMO cloud provided support for the price.
This was a pure buying signal:
1- Price has taken support on cloud and cloud acted as a resistance.
2- Chikou was above the price, cloud, and Ten-Kij.
3- Ten-Kij were broken by the price. It went upwards. They both were resistance to the price but now it will be a support.
4- Price was above the cloud.
Buying will be confirmed when the current candle will be closed above Ten-Kij.
NIFTY Research Report 1: Elliott wave & sentiment analysis
Time-frame: Daily
Research report: Elliott wave and sentiment analysis
Wave ((1))
Price has started an impulsive structure on 24 March 2020 . It has exceeded the supply pressure by creating demand.
Wave ((1)) formed as a leading diagonal because there was the existence of seller and supply pressure.
All the fundamentals were bearish before this move. So, it was a bit risky to think about a trend change without any proper signal.
Price has made a high of 9989 , and the fifth terminating wave completed the wave ((1)). It has started falling downward, and traders thought that price could make another leg down.
Wave ((2))
5th sub-wave has completed the wave ((1)).
Once again, the price hasn't signaled trend change, and the bearish perspective was less risky than the bullish perspective.
Corrective wave 2 formed a sharp correction, but it couldn't break the 50% level, and the price surged.
Price made a higher low.
Wave ((3))
Price broke the high of wave ((1)) at 9989 , which has given evidence of an impulsive atmosphere.
The price is going for a new high with heavy demand pressure, which has crushed supply pressure.
Bullish fundamentals and public participants have skyrocketed towards a new high.
Sub-wave of wave ((3))
Sub-wave 1 is an impulse at 1032 .
Sub-wave 2 is and sharp correction.
Sub-wave 3 is an impulse with 161.8 % Fibonacci Extension.
Sub-wave 4 is deep correction at 10790 .
Sub-wave 5 is the power extended wave at 15431.
Wave ((3)) has made a high of 15431, and public participants started booking profit.
Wave ((4))
After creating a high of 15431, buyers got surprising disappointment.
Price has started falling due to short-term bearish sentiments and the profit booking.
Wave ((4)) is a double zigzag pattern w-x-y, which indicates the single correction was not enough to correct the strong impulse move.
It has an alternation of the triangle.
Price has completed corrective wave ((4)) at 14151 .
Wave ((5))
After the accomplishment of wave ((5)), the price started a bullish move.
Price broke wave X, which signaled a bullish atmosphere.
Due to surprising disappointment, the price move is not as strong as we have seen in wave ((3)).
sub-wave of wave ((5))
Wave 1 is a five-wave impulse
Wave 2 is a less time-consuming wave.
Wave 3 is a normal extended wave.
Wave 4 is a deep correction triple zigzag (w-x-y-x-z), and broadning wedge.
Wave 5 is forming and has confirmed its bullish move by breaking wave X.
Conclusion:
I have the following reasons to consider the current move as an impulsive wave.
Wave counts without invalidation.
Price broke the X wave of the corrective structure.
Sub-wave 4 of wave ((5)) retraced 61.8 % of wave 3. As per rule, the 4th wave can't retrace more than 78.6% of wave 3.
Scenario 1:
Price is on the bullish momentum, but if price breaks down the wave X to take support, we can expect the following levels: 17790-17528-17316.
Scenario 2:
If the price is refusing for a retracement and continuously creating new highs, we price can go for 18600- 18825+
----------------------------------------
Research Report 2: Price action analysis
Research Report 3: Multiple time frame analysis using EWT & Price action
HERO NO 1 !!!This one has gone through a time correction through a zigzag. Now vying to take over the no 1 slot irrespective of market condition. DISCLAIMER:-Views r personal. Do your due diligence. NB:-Don't forget to press 'LIKE' Button.
NIFTY Research Report 2: Elliott Wave And Price Action analysis--------------------------------------------------------------------------------------------
Timeframe: 1- Day
Theory: Elliott Wave
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Click here to read research report 1:
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Timeframe: 1- hour
Theory: Elliott Wave
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Let's zoom the 5th impulsive wave of wave ((5)) to know the current situation of the Wave cycle.
The ending point of wave 4 is the starting point of wave 5.
After the accomplishment of, triple zigzag, the price has started an impulsive wave, and it has broken the X wave.
X was had holder the correction, and break out of X wave increased public participant in nifty.
Wave formations of the impulsive wave 5 of wave ((5)).
Wave ((i)) is a leading diagonal.
Wave ((ii)) is a zigzag correction, retraced 50% of wave ((i)).
Wave ((iii)) is a five-wave impulse where sub-wave v is near to being completed.
After the completion of wave ((iii)) , the price will start the corrective wave ((iv)). The question is, how to know if the corrective wave started or not?
The best way to find the starting point of the corrective structure is the breakout of the base channel.
If the price breaks the base channel, it may end near the previous wave (iv). I have already mentioned levels in the daily time-frame analysis.
If the price couldn't break down the parallel base channel, it can create a new high, but it will give a short pullback to increase public participants.
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Timeframe: 1- hour
Theory: Price Action Analysis
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Price has broken out the downtrend channel and started an upward move.
However, the current bullish move looks strong, but the price can't make a new high without proper retracement.
Nifty can't get public participants Without trend pause( correction).
If the price breaks the parallel channel, we can expect the following support level: 18232-17944-17604-17261
Please note that the price is bullish above 18250 .
If the price takes support on the parallel channel, it can go for 18600-18845+ to touch the upper band of the channel.
FTSE 100 (UKX) | The best places to start a downtrend🔥Hello traders, FTSE 100 (UKX) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
All of these counts correspond to a b wave at a higher time.
This wave b is formed in the form of a zigzag and from this zigzag the waves a and b are finished and the wave c is being formed.
From wave c, the microwaves 1, 2, 3, and 4 are formed in the form of a channel or triangle, and we assume that wavelet 5 is in wave c, and this wave is around Fibo 1.00 relative to wave a, and probably a sideways process for roofing is formed in this range. .
Either in the same range after the formation of the other two waves ends or after colliding with the upper side of the channel.
The descent will be confirmed when the channel floor and the red circle are broken.
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Dollar Index (DXY) | Small correction♻️Hello traders, Dollar Index ( DXY ) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
In the wave counting done in higher times, a leading trend is formed and from this trend, waves 4 and 5 remain.
Wave 4 was originally intended as a flat, but wave c, which we identified in the count now, did not look like a leader, and we assumed it would be a zigzag triple.
So the count has changed to triangle and from this triangle the waves a, b and c are complete and now we are inside the wave d.
From wave d, wave a continues to form, and from wave a, waves 1, 2, and 3 have ended, and now the beginning of wave 4 is confirmed by breaking the bottom of the orange channel.
Wave 4 will probably not be as deep as Wave 2 and will be moderately temporal.
According to the current structures, it is probable that wave 4 will end in a zigzag pattern around Fibo 0.38 to Fibo 0.50, or in other words, around the price of 94,000, and in the following we will examine the trend of the next movements.
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USDCAD | The safest point to buy 🔥Hello traders , USDCAD in daily timeframe ,This analysis is prepared in daily timeframe but has been published for better view in 2 days timeframe.
In the count that was done, the main waves 1, 2 and 3 have formed a leading downward trend and now the 4 main waves are forming.
Wave 4 is formed in a zigzag pattern and from this zigzag the sub-waves a and b are completed and the c-wave is incomplete.
From wave c, the microwaves 1, 2 and 3 are completely composed and there can be no definite opinion about wave 4 and 5, but from our point of view, wave 4 is at the end of its trend and then wave 5 climbs to around 1.30.
In general, if Fibonacci 0.618 is broken for microwave 4 of wave c or channel channel is broken, there will be no hope for the formation of this ascent.
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FTSE 100 (UKX) | The best places to start a downtrend📍Hello traders, FTSE 100 (UKX) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
All of these counts correspond to a b wave at a higher time.
This wave b is formed in the form of a zigzag and from this zigzag the waves a and b are finished and the wave c is being formed.
The c-wave consists of microwaves 1, 2, 3, and 4 in the form of a channel or triangle, and we assume that the 5-wave microwave is at the end of its motion process.
Either it ends in the same range after the formation of the other two waves, or it completes after hitting the upper side of the channel and the fall starts from that area.
The descent will be confirmed when the canal floor and red circle are broken.
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NSE IDFCFirstBank Bullish Cycle Started
Preface:
IDFC First bank is ready to march upward. After making the high of 69.30, the Price has started the corrective wave four and took 179 days to complete. The ending point of wave 4 is the starting point of impulsive wave 5.
Wave Formations And Fibonacci Relationships:
Wave 1 is a Leading diagonal which has a 3-3-3-3-3 sub-wave structure.
Wave 2 is a combination where wave 'W' is a zigzag & wave 'Y' is a triangle. Fibonacci retracement of wave 2 is 38.2% of wave 1.
Wave 2 is not exceeding the starting point of wave 1.
Wave 3 is an extensive impulse. 3rd wave has 261.8% retracement of wave 1.
Wave 4 is a zigzag correction with a 5-3-5 wave structure.
Sub-wave of wave 4 fulfilled the rule of equality (wave A= wave C).
Wave 4 retraced 78.6% of wave 3.
What will happen next?
Completion of sub-wave C indicates that the corrective wave has ended. Price has started forming sub-waves of wave 5.
Wave (ii) retraced 78.6% of wave (i).
If the IDFC First Bank breaks the high of wave 1, it will confirm the impulsive behavior of wave (iii).
(Note that the ending point of the corrective wave is the starting point of an impulsive wave.)
A trader can expect the following targets: 64-74.64- 86.2+
Target 1: 64
{Clusters: high of wave B,161.8% of wave (iii), 78.6% of reverse Fibonacci retracement of wave 4}
Target 2: 74.64
{Clusters: 2.618% of wave (i) through (iii), 161.8% of wave 1 through 3}
Target 3: 86.23
{Clusters:78.6% reverse Fibonacci retracement of wave 4, dynamic resistance}
FTSE 100 (UKX) | The best places to start a downtrend🔥Hello traders, FTSE 100 (UKX) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
The whole wave we counted corresponds to wave b at higher times.
This wave b is formed in the form of a zigzag and from this zigzag the waves a and b are finished and the wave c is also being formed.
From wave c, the microwaves 1, 2, 3, and 4 are formed in the form of a channel or triangle, and from the last wave, wave 5, one ascent to the rest of this ascent can be at the end of its process or it can continue up to Fibo 1.00 for wave c and then with Break the bottom of the designated channel to start the downward waves.
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SWIM ALONG THE CURRENTThere can be two alternatives-flat or zigzag. BOTH POSSIBLE!! Both the alternatives are shown in the chart. For the time being -ENJOY THE HIGH TIDE. If found hesitating near the RED LINE UPSIDE (laxman Rekha for BANK NIFTY BULLS !!) GO SHORT For 5th wave downside. PROFITING FROM ALL POSSIBLE MOVES IS THE JOB OF A TRADER. DISCLAIMER:-Views r personal-not a trading recommendation. use your own method/resources at your own risk.
