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Wave Analysis

BTCUSDT Analysis: Bullish Momentum and Key Support ZonesBTCUSDT is currently trading around 75,740 USDT after a recent bullish push, suggesting strong upward momentum. The chart shows clear support zones (highlighted in purple) that Bitcoin could revisit in case of a pullback, specifically around 74,000 USDT and 72,500 USDT. If BTC holds above these support levels, it could gain further traction to reach new highs, with targets in the 78,000 USDT - 80,000 USDT range. The current trend suggests that if Bitcoin retraces and tests the support, it could present a buying opportunity for traders looking to join the next potential leg up. Keep an eye on these critical levels, as a break below the 72,500 USDT support might indicate a shift in trend. However, for now, the bullish scenario remains intact, with promising upside potential if buyers continue to dominate.
by Sanhara
HOW TO TAKE TRADE AFTER PRICE BREAKS MAJOR LEVELAdvanced PRICE ACTION Trading Key Trade Concepts: Buyer Trap Identification: Before entering, always check for a buyer trap or liquidity hunt, where impulsive buyers are lured into the market at a vulnerable level. In this setup, I’ve highlighted how a buyer trap has been triggered, providing a strong signal for potential reversals. Order Block Strategy for Long Entries: Wait for Price to Enter the Order Block: Before any long position, let price retrace to the designated order block. Confirm with High Break and Rejection Candle: Once in the order block, wait for recent highs to break, followed by a rejection candle to confirm the entry. A candle close above this level on the 15-minute time frame is essential, adding strength to the confirmation. Time Frames: Utilize the 5-minute chart for initial moves but rely on a 15-minute candle close for entry confirmation. Take-Profit (TP): Target buy-side liquidity and other strategic levels beyond that, maximizing the potential of each setup. For more professional insights like this, don’t forget to like, follow, and comment. This is the kind of premium content many charge for, but I’m sharing it for free to help others succeed!
Editors' picks
OANDA:XAUUSDEducation
by munmeeth
2
GOLD ANALYSIS FOR 11TH NOVGold Analysis 4H: Price took demand as support, showing bullish intentions at this level. 1H: Likely to fill imbalances downwards, indicating potential for a pullback. 15M: Rejection noted from a key order block, followed by a break of recent lows and a retracement. Currently, price is positioned at a resistance level. Plan: Wait for price to break this resistance, then observe for a retracement to confirm an entry for a short setup. Targets (TP1, TP2) are marked for reference. Thank you for 200 followers! Like, follow, and comment for more in-depth analyses!
OANDA:XAUUSDShort
by munmeeth
8th Nov 2024 - PostMortem on Nifty - stance slightly bearishNifty Stance Bearish ️⬇️ The report we sent out last week had a full bearish stance, but this week we have reduced the intensity of the bearishness. The new stance is upgraded from bearish to slightly bearish. The rationale is that the momentum needs to really build up for further downfall. 23854 is the magic number below which we will intensify our level of shorts. For the expiry 14th Nov, the position taken by me is Max profit will be at 24200 level and max loss will be above 24394 and this is exactly the stop loss for the bearish level. If the market closes above 24394 on any specific day, we will change the stance from slightly bearish to neutral. The price action on Monday 4th of Nov was beautiful, but we did not break the 23854 conclusively. The counter reaction on 5th was symmetrically powerful, we almost broke out of 24460 upper range. 6th of Nov was flavorless less and on 7th we fell badly again. The trading on 8th was decent but the last 50 minutes or so belonged to the Bears. On a weekly basis, Nifty is up just 10pts. I had promised last week that I would push the publication date to Thursdays coinciding with the expiries. Let me try and keep my word from the 14th of Nov as it coincides with Children's Day :)
NSE:NIFTYShort
by viswaram
Epigral Ltd for 30%+ gains; Strong Q2 resultsDate: 10 Nov’24 Symbol: EPIGRAL Timeframe: Daily Epigral (formerly known as Meghmani Finechem) seems to be in Wave V of 3 which is heading towards 2800 (33% from current price of 2100) as seen in the chart. There is a possibility of Wave V extending to 3000 which we can assess once it closes above 2500. Let’s keep a stop loss at 1840 on closing basis. Q2FY25 results on Saturday were good so the run up should continue. This is not a trade recommendation. Please do your own analysis. And I have the right to be wrong. Epigral (jise pehle Meghmani Finechem ke naam se jaana jaata tha) 3 ke Wave V mein hai aisa lagta hai jo 2800 (2100 kee vartamaan keemat se 33%) ki taraf badh raha hai jaisa ki chart mein dekha gaya hai. Wave V ke 3000 tak badhane ki sambhaavana hai jiska aakalan hum 2500 se upar band hone par kar sakte hain. 1840 ke neeche closing basis stop loss rakhein. Shanivaar ko Q2FY25 ke nateeje achhe rahe to teji jaari rehni chahiye. Yah koi trade lene ki salah nahin hai. Kripya apana vishleshan khud karein. Aur mujhe galat hone ka adhikaar hai.
NSE:EPIGRALLong
by DhandhaPaani
Dominion Energy (D) – Elliott Wave Analysis and Trading PlanHere's a draft for a blog post on your Dominion Energy analysis: # Dominion Energy (D) – Elliott Wave Analysis and Trading Plan In this post, I’ll share my Elliott Wave analysis for Dominion Energy, Inc. (ticker: D), outlining a potential buy opportunity based on the structure of the wave patterns. As the energy sector evolves, Dominion Energy presents a technical setup that could provide solid upside potential. **Chart Overview** On the daily chart, Dominion Energy is forming what appears to be an Elliott Wave structure, providing clear entry zones and targets for a potential bullish reversal. #**Wave Structure Breakdown** 1. **Wave (b) - Completion of Downtrend** Dominion Energy experienced a significant decline, reaching what appears to be the completion of a corrective wave labeled as (b) on the chart. Following this wave, the price has shown signs of a bullish impulse, suggesting a possible trend reversal. 2. **Wave (c) - Establishing a Base** The downtrend continued into wave (c), where the stock likely found a strong support level. This phase could indicate the end of the broader corrective wave, setting up the stock for a potential upward movement. 3. **Wave (i), (ii), and (iii) - Impulsive Movements** After wave (c), we see a series of impulsive waves labeled (i), (ii), and (iii). These waves mark the early stages of a potential new bullish trend. Wave (iii) suggests strong bullish sentiment, while wave (ii) represents a healthy retracement often seen in an Elliott Wave setup. 4. **Current Setup: Wave (iv) Retracement** As wave (iv) retraces, there’s an opportunity to buy as the price pulls back into a key support zone. I’ve identified two potential entry levels: - **Starting Buy Level:** $57.79 - **Secondary Buy Level:** $54.89 (if the price dips further) This yellow zone marks an ideal area to start accumulating a position, anticipating a move up in wave (v). ### **Why Buy Dominion Energy Now?** Dominion Energy’s technical structure aligns well with the Elliott Wave framework, providing a clear risk-to-reward setup. Here’s why this trade looks promising: - **Wave (v) Target:** If the wave count is accurate, we could see the price push significantly higher as it completes wave (v), targeting the $70–$75 range in 2025. - **Strong Support Levels:** The identified buy zones around $57.79 and $54.89 offer strong support, limiting downside risk. - **Energy Sector Strength:** As the global economy adapts to energy shifts, companies like Dominion Energy are positioned to benefit, especially as they invest in infrastructure and alternative energy solutions. ### **Trading Plan** Here’s how I plan to execute this trade: 1. **Enter Initial Position:** Start buying at $57.79. 2. **Add to Position if Dips Further:** If the price moves down to $54.89, I'll add to the position. 3. **Set Target for Wave (v):** Looking for the stock to reach around $70–$75 as the final wave (v) unfolds. ### **Risk Management** As with all trades, risk management is key. I’ll monitor price action closely and reassess if the structure invalidates the Elliott Wave count or if the price breaks below significant support levels. --- #### **Conclusion** Dominion Energy is presenting a compelling setup based on Elliott Wave analysis, with a clear path forward for a potential bullish move. By entering at key levels, I aim to capture the upcoming wave (v) and ride the trend as the stock moves higher. As always, this analysis is for informational purposes. Please conduct your own research or consult a financial advisor before making any trading decisions. Happy trading! 📈 --- Let me know if you’d like to tweak any part of this!
NYSE:DLong
by Elliottwave-Edge