Wave 5 Long-Term Target: Fibonacci Projection Indicates 28,867Wave 5 Long-Term Target: Fibonacci Projection Indicates 28,867
Wave 1: 15,214 to 18,893
Wave 3: 16,833 to 26,290
Wave 4 Complete: 22,022 (Correction Phase Ended)
Calculation:
Wave 1-3 Range: 26,290 - 15,214 = 11,076
61.8% of Wave 1-3: 11,076 × 0.618 = 6,844.97
Wave 5 Target: 22,022 + 6,844.97 = 28,867
Conclusion:
Wave 4 has completed, confirming a long-term bullish outlook. If Wave 5 follows the 61.8% Fibonacci extension rule, its estimated target is 28,867. This projection helps us to set long-term price targets and confirmations. You can view my previous analysis of wave 4 published on 20 FEB.
Wave Analysis
EUR/USD Trading Plan: Key Support, Resistance & Entry Points The European Central Bank (ECB) is anticipated to proceed with an interest rate cut, influenced by the U.S. administration's restraint from imposing broad trade tariffs. This expectation has solidified market sentiments towards monetary easing in the eurozone.
Key Support and Resistance Levels:
Support: 1.05946, 1.0574
Resistance: 1.0469
Trade Setup:
take profit 1.0700
sl 1.05800
echnical Analysis and Sentiment:
EUR/USD Rally: The EUR/USD pair surged 1.4% on Tuesday, climbing 140 pips in a single session as markets sold off the U.S. dollar amid expectations of tariff policy shifts.
Technical Indicators: According to Investing.com's technical analysis, the EUR/USD pair is currently exhibiting strong buy signals across various moving averages and technical indicators.
Alternative Scenario:
If the price fails to break above 1.0500 and shows signs of bearish reversal, consider entering a short position below 1.0480, with a take profit at 1.0376 and a stop loss at 1.0500.
Conclusion:
The EUR/USD currency pair is currently exhibiting bullish tendencies across multiple timeframes, supported by recent economic developments and technical indicators. Traders should monitor key levels and potential breakout points to capitalize on trading opportunities, ensuring proper risk management with well-defined entry and exit points.
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Silver mcx buy given above 94800 refer silver comex chart levelsHow to take trades using Harmonic pattern projection Trade setup is explained below :-
Entry : 1st SL point : 0% is recent top or bottom.
Trailing D: 11.4% is work as trailing SL of buy or sell trade if hit then we have to book profit
.If price goes below 2nd D 21.4% to 23.6% range then early traders can make fresh reversals trade after breaking 1st D 11.4% safe traders can reversal trade after breaking Point D 21.4% to 23.6% range
Targets :
Target T1 : 35.1% to 38.3%
Target T3 : 49.1% to 53.2%
T3: 60.9% to 64.8% is our 3rd Target since this is reversal zone so must book profit if break then take fresh trade again
Target T4 : 76.4% to 79.7%
Next Targets are 100% , 127.2% ,141.4% and final Target 161.8%.
How to take reversal trade :
If price going upside/ downside then then buy or sell levels appear on Chart ( Automatically show when price reach any reversal zone of harmonic projection pattern based .
After showing reversal levels wait for confirmation until 21.4% or 28.3 % level not break if break then exit from current buy / sell trade and take fresh reverse trade buy/ sell .
Trailing SL:
After reach 1st Target trail SL to just above or below cost ( for example we are holding sell trade from 100 1st Target 110 hit then move trailing sl to 104-105 and move SL as price move upside or Downside)
Re- Entry :
For Re-entry in any pull back Point D ( 11.4% ) is used for re-entry then SL recent high or low Point SL ( 0% ) .
Blue Line is 1st support/ Resistance
Green line is 2nd support/ resistance
Red line is 3rd Support/ resistance
Nifty EW UpdateConfusion remains:
Either bottom done in an ABC in E
OR it's just 3rd wave in C3 done and 4th going on.
Crossing 22800 should give confidence that it's not C3, and we could have made a bottom.
All in all, stocks are doing well, Metals, PSEs, Capital goods etc are already breaking above the levels they were at when Nifty was at 23k.
Natural gas if break 364 then downtrend will start avoid buy cmpHow to take trades using Harmonic pattern projection Trade setup is explained below :-
Entry : 1st SL point : 0% is recent top or bottom.
Trailing D: 11.4% is work as trailing SL of buy or sell trade if hit then we have to book profit
.If price goes below 2nd D 21.4% to 23.6% range then early traders can make fresh reversals trade after breaking 1st D 11.4% safe traders can reversal trade after breaking Point D 21.4% to 23.6% range
Targets :
Target T1 : 35.1% to 38.3%
Target T3 : 49.1% to 53.2%
T3: 60.9% to 64.8% is our 3rd Target since this is reversal zone so must book profit if break then take fresh trade again
Target T4 : 76.4% to 79.7%
Next Targets are 100% , 127.2% ,141.4% and final Target 161.8%.
How to take reversal trade :
If price going upside/ downside then then buy or sell levels appear on Chart ( Automatically show when price reach any reversal zone of harmonic projection pattern based .
After showing reversal levels wait for confirmation until 21.4% or 28.3 % level not break if break then exit from current buy / sell trade and take fresh reverse trade buy/ sell .
Trailing SL:
After reach 1st Target trail SL to just above or below cost ( for example we are holding sell trade from 100 1st Target 110 hit then move trailing sl to 104-105 and move SL as price move upside or Downside)
Re- Entry :
For Re-entry in any pull back Point D ( 11.4% ) is used for re-entry then SL recent high or low Point SL ( 0% ) .
Blue Line is 1st support/ Resistance
Green line is 2nd support/ resistance
Red line is 3rd Support/ resistance
Banknifty updated levels avoid fresh sell trade at current priceHow to take trades using Harmonic pattern projection Trade setup is explained below :-
Entry : 1st SL point : 0% is recent top or bottom.
Trailing D: 11.4% is work as trailing SL of buy or sell trade if hit then we have to book profit
.If price goes below 2nd D 21.4% to 23.6% range then early traders can make fresh reversals trade after breaking 1st D 11.4% safe traders can reversal trade after breaking Point D 21.4% to 23.6% range
Targets :
Target T1 : 35.1% to 38.3%
Target T3 : 49.1% to 53.2%
T3: 60.9% to 64.8% is our 3rd Target since this is reversal zone so must book profit if break then take fresh trade again
Target T4 : 76.4% to 79.7%
Next Targets are 100% , 127.2% ,141.4% and final Target 161.8%.
How to take reversal trade :
If price going upside/ downside then then buy or sell levels appear on Chart ( Automatically show when price reach any reversal zone of harmonic projection pattern based .
After showing reversal levels wait for confirmation until 21.4% or 28.3 % level not break if break then exit from current buy / sell trade and take fresh reverse trade buy/ sell .
Trailing SL:
After reach 1st Target trail SL to just above or below cost ( for example we are holding sell trade from 100 1st Target 110 hit then move trailing sl to 104-105 and move SL as price move upside or Downside)
Re- Entry :
For Re-entry in any pull back Point D ( 11.4% ) is used for re-entry then SL recent high or low Point SL ( 0% ) .
Blue Line is 1st support/ Resistance
Green line is 2nd support/ resistance
Red line is 3rd Support/ resistance
Nifty updated levels 22290 1st resistance avoid sell at cmpHow to take trades using Harmonic pattern projection Trade setup is explained below :-
Entry : 1st SL point : 0% is recent top or bottom.
Trailing D: 11.4% is work as trailing SL of buy or sell trade if hit then we have to book profit
.If price goes below 2nd D 21.4% to 23.6% range then early traders can make fresh reversals trade after breaking 1st D 11.4% safe traders can reversal trade after breaking Point D 21.4% to 23.6% range
Targets :
Target T1 : 35.1% to 38.3%
Target T3 : 49.1% to 53.2%
T3: 60.9% to 64.8% is our 3rd Target since this is reversal zone so must book profit if break then take fresh trade again
Target T4 : 76.4% to 79.7%
Next Targets are 100% , 127.2% ,141.4% and final Target 161.8%.
How to take reversal trade :
If price going upside/ downside then then buy or sell levels appear on Chart ( Automatically show when price reach any reversal zone of harmonic projection pattern based .
After showing reversal levels wait for confirmation until 21.4% or 28.3 % level not break if break then exit from current buy / sell trade and take fresh reverse trade buy/ sell .
Trailing SL:
After reach 1st Target trail SL to just above or below cost ( for example we are holding sell trade from 100 1st Target 110 hit then move trailing sl to 104-105 and move SL as price move upside or Downside)
Re- Entry :
For Re-entry in any pull back Point D ( 11.4% ) is used for re-entry then SL recent high or low Point SL ( 0% ) .
Blue Line is 1st support/ Resistance
Green line is 2nd support/ resistance
Red line is 3rd Support/ resistance
Confluence level - Nifty it can act as support or reversal 1. Downward regression channel bottom
2. Ascending Channel Bottom
3. Abc correct pattern 1:1
4. Previous Support level
What is confluence?
It's meeting point or multiple technical parameters coincides, like I mentioned above
What to expect?
1. Reversal if prices goes above 23400
2. If any short comming occurs next level could be 20200
Cholamandalam Next Immediate Target Expect to be1465Cholamandalam was in correction for a long time, it has just now wakeup. As per the Analysis I am expecting the first wave to end at 1465.
Will keep on updating the chart as we move ahead.
Disclaimer: I am not SEBI registered member, this Idea is only for educational purposes.
Nifty 50 - Seems to RallyAfter a strong Wave 3 Rally,From the Top/High(26277)Since 27-september 2004,Nifty 50 Pulling back for Wave4 correction,
Where corrective pattern structure seems to be possible zigzag ABC ,While A made a sharp impulsive of %waves and C possibly finished Ending Diagonal.
A=C 100% ending at 21800(approx),and Wave 4 ending at 21400(approx) for 38% of Wave3.
Is it a reversal in NIFTY?If we observe the daily chart of NIFTY, a pattern like Morning Star can be seen near the 161.8% retracement level. Also, as per our previous study, the recent fall was wave (Z).
The minimum target for it is 38.2% extension (which is a failure wave (Z) because most of the time, it is seen that wave (Z) is a failure or truncated).
So, we can have a risky buying opportunity here with a small stop-loss below the recent low. Or, if one wants to play safe, he may have his stop bellow 61.8% (21662) level.
The near target will be the bottom of wave (Y), i.e., 22786.90
This analysis is based on the Elliott wave theory and Fibonacci.
This is not any buying recommendations.
This analysis is for educational purposes only.
Gold ew updatesGold is recovering from lows of 2835.
It has made an implusive pattern from bottom and 1st wave is having gaps.
wave 3 slow in this pattern compare to its nature. which creates doubts
wave4 is abc correction and about 38.2 correction and wave 5 is completed
at 38.2 extention. Only drawback in this pattern is no wave is extended.
This pattern can also this pattern can also turn out to be a WXYXZ pattern,triple zigzag
In this case price has to fall big to the start of wave. Only problem with this is 5th wave
is single wave, means one upside move is pending.
That's see how it turns out
This is deflationaryCrude CMP $65.80
These inverted V shaped falls are just the first leg of the fall. In Elliott they are wave A. The rally was very small indicating weakness, which is wave B. Below $63.80 we will see minimum $47. This is very deflationary. In my view the Fed will start to reduce interest rates very soon.
GULFOILLUB-Breakout Stock🚀 Gulf Oil Lubricants (GULFOILLUB) is in strong momentum! This stock is showing promising movement, making it worth keeping on your watchlist. 📈 Investors are advised to study the stock and conduct their own research before making any investment decisions.
Disclaimer: This is purely for informational purposes and not a recommendation to buy or sell. Investors are advised to conduct their own research and risk assessment before making any investment decisions, as stock markets are subject to volatility and risks.
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Nifty spotThe upside view and the downside view are given to everyone here based on the retracements to the upside/downside starting from the lows of 21998. There isn't much to tell here except that when you are able to pinpoint a swing whether minor or major in nature and are able to take out ONLY the retracements....... every trade becomes a winning one.
Gold Long Term Neowave ForecastHello Everyone
FX:XAUUSD In this we are going to talk about gold in detail
## As long as we are above 2771, gold will bullish till May-June. But to confirm this we will need to wait for 2 or 3 more weeks, so buy in parts.
## Inner stucture is in correction of traditional ABC structure and still in developing phase. But i have remove them so that who dont understand neowave wont be confused.
## Apart from this i am adding Live link for fast updates. so if you have any query. Kindly leave a comment. I will be happy to guide you further more.
Live Link- in.tradingview.com
The correction is not yet over in Finance companiesChola Fin CMP 1422
Elliott- this is the typical sharp fall that I spoke about in my previous post. This is only the first leg of the fall. The B is a rally ..here it has gone to 61.8% of the fall and has halted. In my view the C leg can commence from here.
Fib- the correction will come down minimum to 1K zone which is the 50% fib retracement and also trendline support.
I can see correction in most of the Finance companies so beware. I posted Mannapuram, Bajaj Finserv and now chola.
Watch for reversal signalsGranules CMP 461
Elliott- a correction that starts with a big bear candle or an inverted V types are generally the first leg of the fall. This is a typical zig zag corrective pattern. The weakness was a lot and hence the retracement was very less. I remember speaking about the weakness.
the stock is now down to a strong support as it is at fib and trendline support. I will want to see some reversal signals here. In my view its a high prob reversal zone.
JINDAL SAW By KRS Charts5th March 2025 / 9:40 AM
Why JINDALSAW??
1. Fundamentals Strong, Technically Bullish Stock .
2. Wave Count is showing 4th Wave might finish with Flag patterns low in JAN 2025.
3. Multiple FVG is marked as we can see in Chart,
Upside Red Zone FVGs are already mitigated partially in case of upside further
targets will full mitigations of those zone. (Red Zones)
Another FVG is visible in Hourly TFs which denotes possible Reversal from current level.
(Blue Zone)
4. Morning Star is also loading if Today Closing near 245 Rs.
5. 2 Possible Ways I am expecting which marked with Dotted Arrows.
6. RSI - Above 40
MACD - Positive Crossover
Initially Target 280 Rs.