PRICE ACTION:
• In an uptrend, price action finds first resistance (1), which will the horizontal resistance for the rest of the pattern formation, where it reverse direction goes downwards till finding first support (2), which will be the lowest low in the pattern.
• Price action reverse direction from support (2) and goes upwards, till finding the second...
IF you are an Elliott wave trader, you have to confirm that this is a valid EW count.
As per my Elliott analysis, this impulse wave (5-3-5-3-5) has been completed successfully together with major ABC correction from 2021.
On the daily chart we can spot 2 parallel channels and they are both close to a breakout, so with this confluence we can increase our...
It seems like the Ascending Triangle is still in play on the dayly chart. If it plays out, we could see the price of Bitocoin pump to the 25K target.
There is heavy support and resistance between 22.300 and 24.550, so if the price breaks through and reach the 25K target, this could potentially mark the end of the downside pressure.
Elliott wave analysis on BNB was really hard, but this is my outlook on the 4h / daily chart.
Don't forget that BNB on the weekly / monthly scale is extremely bullish, so we should follow the main trend.
We have a broadening wedge / descending channel, which are usually both bullish patterns.
Also the price is printing a local ascending triangle in the...
Due to my technical analysis, i think this downtrend can be over and we can expect a pump anytime soon!
On the daily chart we have a broadening wedge and also a local ascending triangle, both bullish patterns.
If we take a look at the RSI indicator - we can spot a bullish divergence, always great to see.
As per my Elliott wave analysis, the massive...
This market has been in a strong uptrend and has recently broken out of an ascending triangle. Price has retested the breakout area and old resistance is now new support. I got long earlier this morning with my stop below yesterday's low.
Notes:
* Very strong up trend on all time frames
* Great earnings in the recent quarters
* Coming up on the right side of its ~7 month base with higher than average volume
* Creating an ascending triangle pattern (bullish)
* Printed a pocket pivot
Technicals:
Sector: Consumer Cyclical - Specialty Retail
Relative Strength vs. Sector: 1.23
Relative Strength vs....
AAVE is ready for a new bull market!
On the macro scale, we can see a falling wedge pattern that is currently breaking out.
As per my Elliott wave technical analysis, the ABC correction has been completed and because of that we can expect a new Impulse wave.
Good news is that the price has been supported by 0.786 FIB + yellow trendline.
We didn't make a new...
There is a possible Ascending Triangle forming on the 1D chart.
We just saw a dip to 18.900 probably due to the CPI news, but it dit recover fast. This dip looks like a fake-out, out of the Ascending Triangle.
We will need to see how the price will be developing in the coming days/weeks. If this triangle plays out, it could push the price up to the 25K.
On the daily chart, we can clearly see a descending channel / falling wedge, which is ready for a breakout!
Buy a breakout above rectangle + 200 MA + trendline of the channel, we have a nice confluence here, that is very important!
This coin never made an all time high, so it is safe to set the profit target to 0.618 FIB + end of the wave 4 (High liquidity...
hey guys ,
DR REDDY LAB , stock was moving in a downtrend from a long time,
but now , this stock was moving in a fixed pattern called ASCENDING TRIANGLE PATTERN
at present , this stock has crossed it's RESISTANCE
and taken SUPPORT
as you can see that ,
on previous day , this stock has made a long GREEN CANDLE
and today , this stock has made a candle called...
I'm looking at BTC chart in multi- timeframe. BTC broke symmetrical triangle, formed an ascending triangle but rejected at the resistance level 22.5-22.8K. Today BTC retested symmetrical triangle trendline and can bounce, or it can touch the lower slope of ascending triangle before major bounce. There is a warning sign as well. BTC has formed a gigantic bear flag...
I'm looking at Ethereum chart in multi- timeframe. Using trend based fib extension, I showed you that 100 % projection of A wave / from November top/ATH/ to January low has been completed. In daily timeframe there is a nice Adam & Eva double bottom pattern with ascending triangle/. Such kind of pattern there are on total market cap and BTC charts as well. At 4h...
I'm looking at Total market cap in daily and 4h timeframe. There is a nice Adam & Eva double bottom pattern, which can be broken very soon/ in coming days/ At the same time there is ascending triangle on 4h timeframe. The resistance has been tested 4 times)) As you know as many times price hits the resistance , it becomes weaker and more likely will be broken....
- TWT is currently one of the most bullish altcoin on the market as you can see on the weekly chart.
- We have an ascending triangle - very bullish pattern and you can buy now or buy a breakout above the neckline.
- The platform was acquired by Binance in July 2018.
- The full Trust Wallet team is not public, but it is known to comprise over 20 individuals —...
I'm comparing the breakout of 2018 BTC bear market bottom with potential 2022 breakout)) I noticed there is the same ascending triangle pattern which had been rejected 4 times before massive breakout. As I mentioned in my previous analysis I'm bullish on BTC and more likely it will break and pump min to 24-25K, even 28K/my targets mentioned in previous analysis...
- Ethereum is forming a rising wedge on the weekly scale, but there is stil missing a last 5th impulse Elliott wave.
- The price is sitting on the 200 weekly moving average, it is good practice to think of this MA as a zone and not a level.
- 200MA is considered as strong support by huge hedge funds and institutions and is probably the strongest MA on macro...
All details are given on chart. If you like the analyses please do share it with your friends, like and follow me for more such interesting breakout charts.
Disc - Am not a SEBI registered. Please do your own analyses before taking position. This post is only for educational purposes and not a trading recommendation.
