Price action and chart pattern trading: > A possible bearish scenario with descending triangle breakout to complete 5-wave downtrend wave with the target of 1.618 extension of 4-wave (-60% downside) > Stoploss can be placed at the right head & shoulders pattern - SMMA50 zone > Indicator: MACD squeezed below 0.
I used Elliott Wave and Fib to predict the future move for Nifty 50. After bounce back from 16747.70 the next wave should be 1.272 (17240) or 1.414 (17370 ) or 1.618 (17540) as I explained in the Image.
The NIFTY Index which has been trending in impulsive move for couple of weeks, which trend is about to terminate now.As it has been forming the Ending Diagonal structure in which wave 4 is in progress now nad the wave 5 targets are 18170 and 18275.After that Nifty should give big bearish move to down a correction of previous trend.
Hindalco the metal stock has been moving good for last couple of weeks.The stock is in wave 4 flat correction which will end around 410 and then the next wave 5 will start for the target 468 rupees.
The nifty is in micro degree wave in wave 4 which will complete around 17765 and then wave 5 to downside will start for the target of 17270 level.
The Banknifty index has been in a very complex correction for some weeks.As per my one of view the currecnt complex correction looks like Extended or Elongated Double Three pattern which will complete at 40071 or 39635 level as shown in the chart.
The USDINR has shown breakout on the Wednesday night during the FOMC Fed Meeting and the pairing is trading in the impulse pattern.Presently it is in wave 4 now which will complete around 80.60 level and then wave 5 will begin which will have the target of 81.62.
This NSE stock has made big impulsive move previously which is being now corrected in Flat A-B-C pattern as shown in the price chart.The corrective wave will get completed around 7000 price and from there onwards the wave 3 impulse will start for the target of 10700 level target.
The stock has very high liquidity everyday and has been moving in great impulse for last 2-3 months and now the correction is getting completed as expanding flat pattern.After the end of correction at the shown level the wave 3 impulse will start for the target of 1200 level in coming months.
The Index has just completed wave 3 and bounced in wave 4 which will complete around 17170-200 level and then the wave 5 will begin for the downside target of 16487 level very high probability of hitting it.
#CADJPY - At this point, CADJPY is selling very well due to the current MARKET SENTIMENT. So CAD automatically went down. Also, unexpectedly, a JPY STRONG came in the last few days. This was because the Bank of Japan intervened to strengthen the JPY. - But after that the price of OIL went down very fast. Due to this reason CAD was sold very fast before. ...
This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
If price gets to 1.33570 then we are in for a 1/2 1/2 sequence and no longer a leading diagonal... Cus the basics rule of a Diagonal where Wave 3 can't be the shortest will be broken... This a very nice setup, monitor and #DYOR
My primary expectation for Matic is one more low in a wave five of the wave c. However it has done a lower low so we could technically go up up from here and nearly hit the 50% fib which is an ideal retracement for a lager wave 2. If we are in the wave 4 still before wave down in the wave C. We could comedown between 0.6867 all the way down to 0.4587 in a wave 2....
DXY has been on an extended pump to the upside and is definitely getting exhausted in its wave 5. We have nearly hit the 1.618 fib at about 120.00. It does not have to go any higher and has done more than enough for a wave 5. If the wave 5 is over we could be looking at a retracement down in an ABC to 92.78 to 80.00. Obviously this will take months or years to...
Price action and chart pattern trading; > Take profit zone at the upper resistance of the wave channel, possible at SMMA100 fakeout resistance - 0.382 - 0.5 retracement of Wave 4.3 > The final Wave 5 downtrend could be projected at 0.5 - 0.618 extension of wave 4.3 slightly below the previous low - a usual dump & pump is expected before making its uptrend wave >...
Hi guys, At a time when everyone has been so bearish and looking for lower targets on Bitcoin, you know that this is the time to start getting bullish, even just for a short time. First, I'll guide you through market structure of this current bear market, then, in my next analysis, I'll look at recent price action to see if it is giving the game away as to where...
Gold a cute impluse wave is running in a channel , as long as if gold didn't break 1658 , i think the target will be around 1600 ,1610 ,1620 in upcoming hours / days ! keep watching :) cheers