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Wave Analysis

(Elliot Wave ) How to find ZIG ZAG correction in Current chart GABRIEL INDIA --> Daily chart Zig Zag patterns formation it look like GABRIEL INDIA CHART Zig Zag correction WAVE FORMATION WAVE A ]show yellow colour circle --> in inner wave 5 wave sturture .i am count 1,2,3,4,5 in black colour WAVE B show yellow colour circle --> in inner wave 3 wave sturture .i am count a,b,c in red colour WAVE C show yellow colour circle ---> in inner wave 5 wave sturture .i am count 1,2,3,4,5 in black colour Rules and objectives: 1--> zig correction first rule wave A down 5 wave sturture 2 --> Wave b up side move corrective phase 3 wave sturture 3--> Wave c direction again down side 5 wave sturcture 4--> Wave b upside not be more than 0.618% than wave A 5--> Wave-a should not retrace more than 61.8% of the previous Impulse wave of one larger degree. 6--> Wave-b should retrace at least 1% of wave-a. 7.--> Wave-c must move, even if only slightly, beyond the end of wave-a see type of Zig Zag correction Line chart
NSE:GABRIELEducation
by HARISHRAO99
Real-Time EICHERMOT with deep study of Triangle variety.What's the difference between a running triangle and, contracting triangle? Trick is very simple. The wave "B" is beyond the origin of wave "A" we have diagram in a chart. Respect to the triangle a few things to remember. 1) they can only form by themselves in wave "4" , wave "B" , wave "X" and rarely wave "2" . That being the case, triangles always proceed the final move within a sequence. 2) The final move of the triangle which is referred to as a triangle thrust that is either typically small or very large. Rarely is there a medium type move. 3) If you're very aggressive and you want to try and capture the final move. Okay, because that would give you maximum profit potential in this. That's not my training trading style because it is aggressive. When you do this, most people have a tendency to want to put a protective stop at the extreme at wave "C" but I do not recommend that, Actually recommend putting the stop at the extreme of wave "A". Now you know, with respect to the wave principle, there's two types of wave form survey modalities, Motive waves and Corrective waves. Now with within the corrective wave family are specifically, we have zigzags, flats and triangles. We're going to be examining Triangles. And within the triangle family there's actually 3 subsets or three types of triangles: 1) Contracting triangle, 2) Barrier triangle and, 3) Expanding triangle Now, any kind or types of Triangle, and its easily to identify because the trend lines. Connect line the extreme of waves "A" and "C" coverage & "B" and "D" coverage with trend-line. There's very minor variation the the Contracting Triangle and Running Triangle. For Running Triangle wave "B" exceed the origin point of wave "A" . Next is Barrier Triangle and its forming rare or less and its easy to identify because of one trend-line which connect actually a Horizontal and another connecting trend-line will slop in the direction of larger trend. Last type of triangle we're going to examine is going to be an Expanding Triangle. In this triangle is actually very very rare. This only this type of a triangle forms only 10% of the time or less than. The most distinguishing characteristic of the expanding triangle is that true lines which connect the extremes of wave A and C & B and D coverage is actually expand. This is EICHERMOTOR weekly price chart, Scenario 1 which is under-construction for Symmetrical Triangle. The contracting for wave (B) of wave B. Here, the probability of wave ((D)) as complex. We've been learning a lot about triangles and it is actually one of three corrective wave patterns , zigzag, flat and triangles family. There is actually 3 different types of triangles we have contracting triangle., barrier triangle and expanding triangle. Now a variation of the contracting triangle that we examine was also referred to as a running triangle. We've learned that triangles me only form by themselves in the wave "4", wave "B" and wave "X" positions in that triangles always follow or proceed. Excuse me to proceed the final move within a sequence. Sometimes the move The thrust following a triangle is very small. Sometimes it's very very big, so this is. Now we're actually gonna do today is actually apply what we've learned about triangles to some relevant or a timely markets. The EICHERMOTOR chart is one right here. Whenever I look at triangle pattern characteristics which is covering trend-line. The wave ((b)) is not beyond the origin of wave ((a)) that why this is not "Running Triangle" but its a "Contracting Triangle". Thrust Measurement Technique : The simply taking the widest portion( horizontal green dash line ) of the triangle and measuring it in this instance upward from the extreme of wave ((d)) which is 3300 +. The wave ((d)) is very strong evidence whenever price cross about it and the wave ((e)) can be little exceed wave ((c)) or it can complete under the wave ((a)) and ((c)) connected trend-line. Personally I recommended protective stop at or below extreme wave ((a)) . Daily price chart for closer look: Trend-lines observation for turning point: Fib. ratio of all sub-waves: Thanks.
NSE:EICHERMOTEducation
by Trade-Technique
33
How to use "Channel Tool" on the Price Chart and its technique?On the price chart can be draw in parallel lines. For example, prices come right in front of you. If this is accurate and if I call the channel of the true value you draw. No, see if it is contained by parallel lines. It is a reasonable price, the price of the action counter train is contained by the action parallel mind, so if the price action is not contained by the parallel lines by default. For example, let's look at an impulsive structure. Here we have Waves 12345, just an excellent Elliot Wave Impulse move. Now let's look at it from the channeling technique. The first thing we want to do Pull back when I call the "Base channel" and it will be this channel here. We start from the origin of wave 1 to the extreme of wave 2 and then take it to parallel to the extreme line of wave 1. The move at this point. We now believe in clarity that we are rallying in the third wave step. Next channel. Whenever there is a lower boundary line on acceleration for the importance of acceleration channel I will call the "Acceleration Channel" which you draw from the extreme of wave 3 to the extreme of wave 3. The channel entered into its signals and confirmed that there were the wave 3 is complete. And, the wave 4 is under way. At that point, we draw a "Deceleration Channel" that defines the parameter of the wave 4. if we go back and look at the base channel, what I found out using this technique is that the trend line that forms the base channel often provides support for the wave 4 and then ends at the break of the boundary line above it. Wait until the correct price channel is on the bearish channel. Then we look at 5 ways to develop an idea. If you have three waves it is very easy, you argue that you can usually only draw one price channel and that is the signal on the price move. If your check is a counter-turn price move if you watch 5 waves, you should be able to draw 3 clear channels on it. So 3 waves, one channel, 5 waves, 3 channels. Well, now that I look at this price chart, well, what do you have? There is a move upwards, which is contained in parallel lines. It's a counter-train move. Thus we can expect more than to withdraw completely. Now go to the downside. Best of luck. Regards, Chitroda Dharmik.
NSE:RELIANCEEducation
by ChitrodaDharmik8090
36
CLASSIC ELLIOT WAVE PATTERN AND TRADE SETUP LOGICPost covid IDFC FIRST has been moving up in an impulsive manner.Impulsive move advance's price in 5 waves of which 1,3 and 5 are in the direction of primary trend and 2 and 4 are counter trending. Elliot wave Patterns discussed in this chart and it's rules. *Elliot wave impulse pattern and rules: #Impulse pattern 1)Wave 2 doesnt retrace wave 1 completely. 2)Wave 3 cannot be shortest of wave 1,3,and 5 3)Wave 4 should not enter wave 1 price action zone or wave 2(incase wave 2 being an running flat correction ). #leading diagonal Leading Diagonal:It is variation of an impulse pattern where in we see 5 wave advance in the direction of primary trend but rule 3 of impulse pattern is not followed by wave 4 and wave 4 enter's wave 1 zone.Rest of the impulse rules remains same.It can have internal structure 5-3-5-3-5 or 3-3-3-3-3. #Extention Extention pattern is nothing but any motive wave sub-dividing itself in 5 sub-waves of smaller degree and extending either of the motive wave by at least 161%,in this case we can see this happening in wave 3.(a classic pattern) *Elliot wave Corrective pattern and rules: #Flat: 1)It is a 3 wave (A-B-C) pattern,in a counter trending direction. 2)It has internal structure of 3-3-5. There are many variation of FLAT correction depending upon wave B and wave C's length.One of which is Flat with truncated C which is seen in this chart and discussed below. Truncated Flat:It is a variation of elliot wave corrective pattern called a FLAT correction which has 3 sub-waves(A-B-C) of almost equal length in the opposite direction of primary trend having internal structure of 3-3-5.In truncated wave C FLAT,sub-wave C doesnt retrace sub-wave A entirely by 100%,indicating strength in primary trend. #Triangle: Triangle is corrective pattern with 5 leg's in the form of A,B,C,D,E.Triangles are generally seen in wave 4.It has internal structure of 3-3-3-3-3.There are 3 main variation of triangle pattern ,regular triangle,expanding triangle or neutral triangle.Over here we are seeing either expanding or a neutral triangle.But i am only specifying rules of neutral triangle over here reason for which is discussed in detail below in analysis part. Neutral Triangle: Here wave C is longest among wave A,C and E and hence instead of A-C we connect C-E trendline in triangle formation.Triangle's are tricky pattern to trade.In classic technical analysis a head and shoulder pattern top or bottom represents neutral triangle. Following patterns are observed in this chart: Wave-1)Leading Diagonal-we had 5 sub-wave where in wave 4 was over-lapping wave 2. Wave-2 ) ABC FLAT with Truncated C,meaning wave C didn't achieved it's regular flat 100% wave A extention target,indicating strong momentum in wave 3,also wave 1 was only retraced by 38% which again indicates wave 3 will be extended. Wave-3)Classic 261.8% extention of wave-1,nothing much to explain as it's a text book elliot pattern where in momentum is strongest. Wave-4)Triangle(either neutral or expanding),again a typical elliot 4th wave pattern where we see prices correctiong in 5 leg's A,B,C,D,E each internally sub-dividing in 3 waves giving entire structure 3-3-3-3-3 internal structure. Analysis:As of now we are in wave 4 in primary degree,making either of the above mentioned triangle.So far we have already seen 4 leg's of this triangle and wave E is going on.In this wave E we are done with wave A and B and currently wave C is going on.I am considering this wave E as a regular flat. Reason behind wave -4 to end near 44 levels. 1)100% wave A extention target of wave C for regular flat correction in wave E of triangle is coming @ 44. 05 INR 2)We also have 61.8% retracement of entire primary wave 3 coming @ 44.95 3)Add to it we also have intermediate wave 4 low of primary wave 3 @ 43.50 odd levels 4)lastly we have raising trend-line connecting triangle's wave C low's and wave E's sub wave B(not shown) coming at 45 odd levels. This are sufficient evidence for priamry wave-4 to end near 43-45 levels. Trade setup 1)For Conservative trader: One can go long once the B-D trend-line of triangle get's broken which is coming at 50 odd levels with a initial stop-loss of wave 4 low's and expect wave 5 to be of equal length of wave 1 giving us price target of 61.Risk reward would be 1:2 expecting wave 4 ending @ 44-45 levels. 2)For Aggressive trader: For some one who is aggressive can take long's once we get reversal candle in our target zone of 43-45 on daily chart meaning a morning star , hammer , bullish peircing, bullish engulfing candle sort of candle.Stop-loss would be same wave 4 low,however in this case we would be showing commitment before market commits itself but then one does get better risk-reward by entering early.Here also target will remain same of 61 but risk reward will be better compare to 1st scenario. One can even add momentum indicator and a short-term moving average for further confirmation in order to take entry . PS:Analysis shows classic text book elliot wave pattern and it's characteristics which is very rare to find on practical charts,hopefully this post help's someone who is learning elliot wave theory.We are also seeing alternation between wave 2 and wave 4 interms of price,pattern,time and retracement which is again a classic impulse characteristic. Disclaimer:Analysis provided here is for educational purpose,trades should not be taken solely on its basis
NSE:IDFCFIRSTBEducation
by UNDERDOG-29
17
ADA reversal when?Hey everyone, Here is a detailed analysis of Cardano . It has been in a downtrend since September first week. We might consider this downtrend as a correction if it takes support on the 0.786 level of Fibonacci . Let's get into the history of ADA and what happened in the past few weeks. ADA retraced from the golden zone of Fibonacci of the previous wave and went for a new high at 3.097 USDT . Since then, it is in the downtrend. It has made some chart patterns too. Let’s look into it. The Bearish Rectangle Formation The rectangle figure is a trading pattern which can appear during bullish and bearish trends. The pattern consists of tops and bottoms, which are parallel to one another. The other key point to illustrate is that the highs and lows are all horizontal. I have shown the figure of the bearish rectangle at the top of the chart. After recognizing the chart pattern, you have to wait for the breakout and pullback. The pullback candle should not close inside the rectangle. Once the pullback is done, you can see a massive downward movement. I have marked the pullback with a green eclipse. We can set 2 profit targets for this pattern. First can be equal to the height of the rectangle and second can be equal to the length of the trend above the rectangle. I have marked the profit targets with the price range arrows . Reversal When? According to the trend-based Fib Time reversal , the trend might reverse around 26 December, if everything goes right. You can comment down if you wan to learn how to make it. When to buy the dip? According to me, you shall consider these 2 prices for the same: 1.46 to 1.55: It is the 0.786 level on Fibonacci with a major support and resistance zone. 1.02 to 1.21: This Is the zone between the previous low and the 2nd target of the bearish rectangle. Does ADA have good fundamentals? Ofcourse! Cardano’s purpose is somewhat same as Bitcoin’s purpose, but it is slightly faster in making payments. It works on blockchain, and it operates in 2 layers. The current market cap is around $50B and it was once ranked 3rd in the total market cap, which has now decreased to 6th. The social media following and team behind the project is also good. Hope you like the idea. I might not be able to post the photos of analysis of different timeframes in the same idea, as I don’t have TradingView Premium. The reason for the same is that I’m a teenager and I’ve been trading the markets with the borrowed money from my parents. I can’t afford to buy the premium, hence I request TradingView to unlock some features for some traders like me. Do check my previous education idea on cup and handle chart pattern through the link given below.
Education
by theTAguy
HOW BIG PLAYERS PLAY THE GAME Whenever you see strong and big bold candle it is a clear indication of big players Because this kind of move can't be made by small money so if you want to find bank And financial institutions move you don't need to see data and news just see the charts This big move retrace because of some PROFIT booking by big players The dragonfly doji is because all big player place their buy limit order so you will also enter into the market after Doji and play with big players Keep learning from ur stoploss
Education
by TRADELIKEPROFFSIONALS
Chapter 4: Trading Fibonacci Levels & Extensions of Bull CycleUnit_of_Technical_Analysis: Weekly Cycles Chapter 4: Trading Fibonacci Levels & Extensions of the Bull Cycle Fibonacci levels Tools used: 1. Fibonacci Time Frame: Weekly Method: 1. We have got the Bull cycle of 2016-2020 here and we are measuring the moves on Fibonacci Retracement on 2012-2016 cycle. 2. We have got the Bull cycle of 2020-2023 here and we are measuring the moves on Fibonacci Retracement on 2016-2020 cycle. Cycles within the Cycles: 1. Case 1: Trading Fibonacci Levels & Extensions (2016-20 Bull Cycle) Dates: 19/12/11 – 2/03/15: We have considered the Fibonacci of Bull cycle with 4531.15 value on 19/12/11 as Level 0 and 9053.15 value on 02/03/15 as Level 1: On 29/2/16, we got a Bear cycle low of 6825.8 while the 0.5 level was 6792.15, so we got a near perfect 50% retracement on a Bear cycle. On 5/9/16, we got a High of 8968.7 which was below level 1: 9138.18, and after moving down took support on 26/12/16 around 7893.8 which was near 0.786 levels of 8152.28. Between, 13/3/17 – 24/4/17 market consolidated around Level 1: 9138.18 and then gave an upward breakout Again, we could see a consolidation around 1.272 level and finally market created a high around 1.618 levels. If you check carefully, all major Support, Resistance and range had been around 0.5, 0.786, 1, 1.272 & 1.618 levels. 2. Case 2: Trading Fibonacci Levels & Extensions (2020-23 Bull Cycle) Similar to case 1 if we consider the 2020-23 Bull cycle, we can find some movement around same levels If you consider the Dates: 29/2/16 – 20/01/20: We have considered the Fibonacci of Bull cycle with 6841.18 value on 29/2/16 as Level 0 and 12430.59 value on 20/01/20 as Level 1: On 24/3/20, we got a Bear cycle low of 7511.1 while the 0.236 level was 8160.26, so we got a near perfect 0.236 retracement on a Bear cycle. On 8/8/20, we got a support around 0.5 level of the range Between 20/7/20 – 28/9/20 we got a consolidation around 0.786 level i.e. 11234.38 On 9/11/20,we got a breakout above 1 level i.e. 12430.59 Between, 28/12/20 – 1/2/21 market consolidated around Level 1.272: 13950.8, Again, we could see a consolidation around 1.618 level between 7/6/21 – 31-7/21 The current consolidation happened around 2 level If you check carefully, all major Support, Resistance and range had been around 0.5, 0.786, 1, 1.272 & 1.618 levels. Observations: If you check the weekly chart on Bull-Bear Cycle with Fibo Levels and Extension, we find Support-Resistance and Reversals around important levels like, 0.236, 0.5, 0.786, 1, 1.272, 1.618, 2, 2.618 levels Conclusions: 1. Fibonacci retracement can be best used across multiple time frame
NSE:NIFTYEducation
by chetanpathare
Real Time example - TRIPLE ZIGZAG (Bullish)Let's talk about each waves of Triple Zigzag: Wave W (5-3-5) impulsive: ((a)) = ((b)) at 17709 which is close actual low 17613. Its a sharp zigzag. Wave 1X corrective: Wave ((b)) 3-3-5, Running Correction which is little complex. Wave Y (5-3-5) sharp: ((a)) = 0.786 ((b)) at 16824 which, is very near actual low as 16782 Our first question is, What is the Zigzag? In chart, a, b and c is zigzag which very easy to understand by picture. Its really easy to understand this wave counting if you read just below basic rules and Characteristics of Zigzags. The main question, What is going on in nifty? This Triple Zigzag is bullish pattern. Really market is follow this pattern? - Wait and Watch... Characteristics of Zigzags: — labeled a-b-c — subdivide 5-3-5 — typically occur in wave 2 position — ‘b’ wave does not approach ‘a’ wave origin — ‘c’ wave ends beyond ‘a’ wave extreme — belong to ‘sharp' Rules: - Wave A always subdivides into an impulse or leading diagonal. -Wave A always subdivides into an impulse or leading diagonal. - Wave B always subdivides into a zigzag, flat, triangle or combination. - Wave C always subdivides into an impulse or diagonal triangle. We can use channel for zigzag. The Wave C often ends upon reaching the extreme of the channel.
NSE:NIFTYEducation
by Trade-Technique
30
Trading Research - INFY (Triangle) Sell SetupNOTE: SHORT SELLER MIGHT HAVE MUCH RISK BECAUSE OF GAP UP WAS OPENED ON 16 DEC. 2021 INFY 4hrs continuation chart with 5 waves up and side wave trend. Possible also upside move instead of WYZ flat pattern but if we just look at WYZ flat pattern scenario 1725 and 1692. Look for equality, I come to exactly 1660 where wave Y equals W. One of the waves within triangle, usually we see wave E triangle that why I assume here ABCDE triangle of wave ((E)). In-front of you chart of INFY, its a short term chart and with low 1311 & high 1848. This is how I view the basic of wave count, roughly. This is easy technique to identify the waves and count them correctly.
NSE:INFYEducation
by Trade-Technique
16
IEX:Elliot wave labels+analysis+trade setup+observationsIEX is showing impulsive rise post covid low's.Currently we are in Primary wave 5 (which has taken a form of ending diagonal as it's 5 intermediate wave has 3-3-3-3-3 internal structure)intermediate wave 4 minor C,which can end near 200 odd levels. Following are the reason for intermediate wave 4 to end around 200-206 levels. 1)100% extention of minor A for minor C is coming @ 199 2)Intermediate wave 2 price action zone is 206-190,wave 4 in ending diagonal does enter and end in wave 2 price action zone. 3)We have raising trendline connecting primary wave 2 and primary wave 4 lows coming @ 190 which will keep on increasing there by giving us a zone of 190-200 as probable support. 4)we have 200 day ema at 180,and by the time we form wave 4 low's this too will rise towards 190 odd levels which can act as support. Analysis: So as of now we are in Primary wave 5 intermediate wave 4 minor C,meaning we can see current fall taking prices towards 200 odd levels,from there we can still get a last push on the upside in the stock in the form of intermediate wave 5,however this is the least ideal time for taking a long entry still for short term trader with pre-defined exit one can expect 10% move on the up side once price reverse's from 190-206 zone giving us a final target of 220.Stop-loss for this trade would be the intermediate wave 4 low's,trade setup criteria is discussed below. Trade setup Criteria: Again for entry one needs to have bullish reversal candle along with price crossing 9 day ema and breaching 2-4 trendline of minor wave C.Momentum indicator can be used to check oversold levels.Enter once price follows this criteria after entering 190-206 zone,and keep the reversal candle low as initial stop-loss for an upside target of 220. Observation: Wave-1:Leading diagonal Wave-2:Regular flat Wave-3:200% Extention of wave 1 Wave-4:Running falt Wave-5:Ending diagonal. Alternation between wave 2 and wave 4 is seen in terms of prior wave retracement,price,pattern and time. Disclaimer:This are just my views on this stocks,no position should be build or exited solely on its basis.I am putting this analysis for my future reference.
NSE:IEXEducation
by UNDERDOG-29
7
Price Action Trading Strategy : PART1 Market Structure What is Price Action Trading Strategy? Price action trading is about understanding the imbalance between buying and selling pressure so that you can identify trading opportunities and make a profit. Before we discuss about Entry, Exit and Stop Loss Signals, I would like to tell you some basics about the Market Structure, Support and Resistance and Candlestick Pattern. I will be dividing all these topics in different parts, so that it will be easy to understand. So let's start with PART 1 Market Structure. Market Structure Accumulation. Advancing. Distribution. Declining. If you have a clear idea in which structure market is moving, then we are in less trouble to find whether to Buy or Sell. Accumulation Stage This phase is common for smart money and waiting for High Up move. Price Tends to move sideways between support and resistance. Some Characteristic of Accumulation stage: It occurs after the price has fallen over the last five months or more (on the daily timeframe). It looks like a range market with obvious areas of support and resistance within a downtrend. The 200-day moving average starts to flatten out. The price swings back and forth around the 200-day moving average. Advancing Stage: This phase is commonly known as breakout. When Buyer pressure is more than seller and leads to Up Trend and forms an Advancing Stage. Some Characteristic of Advancing stage: It occurs after the price breaks out of resistance in an accumulation stage. You’ll see a series of higher highs and lows. The price is above the 200-day moving average. The 200-day moving average is starting to point higher. Distribution Stage: This stage Smart money distribute away their position and anticipation for price to come lower. Some Characteristic of distribution stage: It occurs after the price has risen for the last five months or more (on the daily timeframe). It looks like a range market with obvious support and resistance areas in an uptrend. The 200-day moving average starts to flatten out. The price whips back and forth around the 200-day moving average. Declining Stage: This phase is commonly known as breakout. When Seller pressure is more than Buyer pressure and leads to Down Trend and forms a Declining Stage. Some Characteristic of Declining stage: It occurs after the price breaks out of support in a distribution stage. You’ll see a series of lower highs and lows. The price is below the 200-day moving average. The 200-day moving average is starting to point lower. Summary: The accumulation phase occurs after the price has fallen and looks like a range market within a downtrend. The advancing stage occurs when the price breaks out of resistance (accumulation phase). This is also known as the uptrend. A distribution stage occurs after an advance in price, and it looks like a range market within an uptrend. The declining stage occurs when the price breaks down of support (from the distribution stage), otherwise known as a downtrend.
NSE:NIFTYEducation
by kleympermina
9
Scenario - 1 (Ending Diagonal) Trade Setup technique(live)...Before getting started for high opportunity Trade Setup. Let's understand the about Diagonal. What is exactly Diagonal: It is a five-wave overlapping structure, wherein each wave subdivides into three smaller waves. It is typically an ending or terminating wave pattern and is found in the fifth wave position on an impulse wave and the wave C position of A-B-C formations. A Diagonal Triangle is normally contained by two converging trend-lines. A Diagonal Triangle is normally contained by two converging trend lines. Rules of Diagonal: A Diagonal Triangle is made up of five waves. Each wave within a Diagonal Triangle must subdivide into 3 waves. Wave 3 cannot be the shortest impulse wave of waves 1, 3 and 5. Diagonal Triangles can only occur in the fifth wave position of impulse waves and the wave C position of A-B-C formations. Diagonal Triangles are found only at the termination points of larger wave patterns. This is earlier considered Ending-Diagonal for multiple reasons. One of the reasons is, we will get higher reward than risk in short side. Let's assume that wave B of (iii) of diagonal end 17269 nearby and then target is has high reward for wave C of (iii)wave. Calculation: 17490-17269 = Risk 221 points Reward 595 points = 17269-16674 Aggressive trader or a trade who are able to risk can sell 17190-17260 is best levels but safe traders can enter 17270 on side of short selling. I will also update follow up time to time on this post.
NSE:NIFTYEducation
by Trade-Technique
26
Ethereum Elliott Wave - Recent fall is confirmation of uptrendElliott wave analysis of Ethereum confirms its 3rd wave journey pattern. Wave 1 - Finished at 4384.43 on May 12, 2021 Wave 2 - Finished at 1718.41 on July 20, 2021 Wave 3 - Sub-Wave 1 - Wave 1 - Finished at 4030.35 on Sep 3, 2021 Sub Wave 1 - Wave 2 - Finished at 2651 on Sep 21, 2021 Sub Wave 1 - Wave 3 - Sub-wave 1 - Finished at 4867.81 on Nov 10, 2021 Sub Wave 1 - Wave 3 - Sub-wave 1 - Finished at 3575 on Dec 4, 2021
COINBASE:ETHUSDEducation
by Rajesh_Ramchandani_Delta
how to trade through elliot wave First thing to do is to identify the time frame that one is comfortable for trading or investing there money for,accordingly one should select time-frame for labeling waves.Here i have tried to label from cycle to minor degree.Analysis below is targeting Primary degree wave 5 upward movement that might unfold in near future. As mentioned in every book or article on elliot wave theory one should start labeling from an important low or high,hence i have taken covid lows for reference.I have tried to follow impulse labeling rules given in elliot wave theory and have labelled degrees according to time frame given in the books or in the material available online. Reasons for impulse wave counts: 1)Primary wave 2 has not retraced primary wave 1 by more than 100% 2)Primary wave 3 has extended almost 261.8% of Primary wave 1 Current wave counts Cycle : wave 1 Primary : wave 4 Intermediate : wave C Minor : wave 5 Current Struture Primary wave 4 Regular Flat ABC correction(3-3-5) Logic for Demand zone between 284-266 1) Price support @ 284 2) 100% Extention of Intermediate wave A from wave B top @284 3) 38.2% Retracement of primary wave 3 @ 269 4) 123.6% Extention of Intermediate wave A from wave B top @266 5) RSI seems to be making positive divergence Entry Signals 1)Look for bullish reversal candle like Doji,Hammer,Piercing,Engulfing pattern in the target zone marked for Primary wave 4 2)Next day price should cross the high of the reversal candle during the trading hours and should sustain above it through out the day(Take 30% position when it crosses the high),if it manages to close above the high of reversal candle then take rest of the 70% position.Additional confirmation will be of minor 2-4 trendline breach and price closing above minor wave 4 highs and 10 day SMA. 3)Keep a SL of reversal candle low on closing basis and size your trade accordingly in order to not to loose more than 1% of your trading capital 4)Target zone for primary wave 5 is 357-380,as it is primary degree that we are expecting to unfold price might take 2-3 months to hit the target zone. This post is for some one who is interested in trading stocks or indexes through elliot wave theory.I have tried to show how to label waves of different degrees and have mentioned trade setup that one should look for and have also mentioned position sizing logic. Hope anyone reading this post find the information useful.
NSE:TATAMOTORSEducation
by UNDERDOG-29
5