CRM | Salesforce | 1D
Core Idea
CRM is trading at a high-quality reversal zone.
The decline from the 369 area appears to be the higher-degree Wave (4), and the final leg into the current support region can be counted as a completed smaller Wave 5 of C.
This creates an important confluence: end of Wave 5, completed higher-degree Wave (4), harmonic pattern support, Fibonacci extension and VWAP.
Elliott Wave Structure
The preferred count treats 369.086 as the completion of Wave (3).
The correction from that high is labeled as Wave (4). Inside this correction, the final C-wave appears to have finished with a five-wave move into the current support area.
Key structure:
Wave (3) high: 369.086
Wave (4) support zone: 159.678 to 133.958
Invalidation: 126.005
The current bounce from around 163 suggests that Wave (4) may already be complete.
Harmonic Pattern Confluence
The blue harmonic structure adds weight to the reversal thesis.
The current support area aligns with the harmonic completion zone, where the final leg of the pattern reaches its projected target area.
This is important because the harmonic PRZ overlaps with the Elliott Wave (4) zone and the final Wave 5 of C. When a harmonic completion area and an Elliott terminal wave appear at the same level, the reversal signal becomes much stronger.
VWAP Confluence
The VWAP is the key dynamic support in this setup.
CRM is reacting directly around the VWAP, which sits inside the same zone as the 1.618 extension at 159.678.
As long as price holds this VWAP area, the correction can be treated as a controlled Wave (4) reset rather than the start of a larger breakdown.
Key Levels
163.230: current reaction area
159.678: 1.618 extension and VWAP confluence
133.958: 2.0 extension and lower support zone
126.005: invalidation of the preferred bullish count
200 to 220: first recovery zone
260 to 270: next resistance area
369.086: major confirmation above Wave (3)
Bullish Scenario
If CRM continues to hold above the VWAP and 159.678, the Wave (4) low becomes increasingly credible.
A reclaim of 200 to 220 would confirm that buyers are stepping back in. Above 260 to 270, the structure would start shifting clearly back into trend mode.
The major confirmation remains 369.086. A break above that level would confirm the transition from Wave (4) into a higher-degree Wave (5).
Bearish Scenario
If CRM loses 159.678 and fails to recover the VWAP, the market can still test the lower PRZ around 133.958.
That would still be acceptable as long as 126.005 holds.
Below 126.005, the preferred bullish count is invalidated. In that case, the correction would no longer qualify as a clean Wave (4), and the broader structure would need to be reassessed.
Trading Interpretation
This is a confluence-based reversal setup.
The strongest argument is not one single level, but the overlap of several signals: final Wave 5 of C, completed higher-degree Wave (4), harmonic pattern completion, 1.618 extension and VWAP support.
As long as CRM holds above the VWAP zone, pullbacks can be viewed as potential base-building within the new Wave (5) setup.
Conclusion
CRM has reached a technically important reversal zone.
The higher-degree Wave (4) appears to be completing exactly where the final Wave 5 of C, the harmonic PRZ, the 1.618 extension and VWAP come together.
The setup remains valid above 126.005. Above 200 to 220, the reversal gains strength. Above 369.086, the larger Wave (5) is confirmed.
Core Idea
CRM is trading at a high-quality reversal zone.
The decline from the 369 area appears to be the higher-degree Wave (4), and the final leg into the current support region can be counted as a completed smaller Wave 5 of C.
This creates an important confluence: end of Wave 5, completed higher-degree Wave (4), harmonic pattern support, Fibonacci extension and VWAP.
Elliott Wave Structure
The preferred count treats 369.086 as the completion of Wave (3).
The correction from that high is labeled as Wave (4). Inside this correction, the final C-wave appears to have finished with a five-wave move into the current support area.
Key structure:
Wave (3) high: 369.086
Wave (4) support zone: 159.678 to 133.958
Invalidation: 126.005
The current bounce from around 163 suggests that Wave (4) may already be complete.
Harmonic Pattern Confluence
The blue harmonic structure adds weight to the reversal thesis.
The current support area aligns with the harmonic completion zone, where the final leg of the pattern reaches its projected target area.
This is important because the harmonic PRZ overlaps with the Elliott Wave (4) zone and the final Wave 5 of C. When a harmonic completion area and an Elliott terminal wave appear at the same level, the reversal signal becomes much stronger.
VWAP Confluence
The VWAP is the key dynamic support in this setup.
CRM is reacting directly around the VWAP, which sits inside the same zone as the 1.618 extension at 159.678.
As long as price holds this VWAP area, the correction can be treated as a controlled Wave (4) reset rather than the start of a larger breakdown.
Key Levels
163.230: current reaction area
159.678: 1.618 extension and VWAP confluence
133.958: 2.0 extension and lower support zone
126.005: invalidation of the preferred bullish count
200 to 220: first recovery zone
260 to 270: next resistance area
369.086: major confirmation above Wave (3)
Bullish Scenario
If CRM continues to hold above the VWAP and 159.678, the Wave (4) low becomes increasingly credible.
A reclaim of 200 to 220 would confirm that buyers are stepping back in. Above 260 to 270, the structure would start shifting clearly back into trend mode.
The major confirmation remains 369.086. A break above that level would confirm the transition from Wave (4) into a higher-degree Wave (5).
Bearish Scenario
If CRM loses 159.678 and fails to recover the VWAP, the market can still test the lower PRZ around 133.958.
That would still be acceptable as long as 126.005 holds.
Below 126.005, the preferred bullish count is invalidated. In that case, the correction would no longer qualify as a clean Wave (4), and the broader structure would need to be reassessed.
Trading Interpretation
This is a confluence-based reversal setup.
The strongest argument is not one single level, but the overlap of several signals: final Wave 5 of C, completed higher-degree Wave (4), harmonic pattern completion, 1.618 extension and VWAP support.
As long as CRM holds above the VWAP zone, pullbacks can be viewed as potential base-building within the new Wave (5) setup.
Conclusion
CRM has reached a technically important reversal zone.
The higher-degree Wave (4) appears to be completing exactly where the final Wave 5 of C, the harmonic PRZ, the 1.618 extension and VWAP come together.
The setup remains valid above 126.005. Above 200 to 220, the reversal gains strength. Above 369.086, the larger Wave (5) is confirmed.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.