Bulls can keep pushing S&P higher in a subwave ( c ) of wave ( iii ) up targeting the next resistance at 5,209. However, I prefer a more complex and tricky Scenario 2 that first shakes off weak hands and only then starts a rally to 5,200 see the Scenario II:
Trend is still bearish on daily and weekly chart, but at the same time we do not exclude an interesting technical rebound in mid-term. In this analysis we just wanted to share our view and how it could develop (Impulsive Structure), for more details on support and resistance levels, visit our Blog. With this in mind, from a technical point of view, AMEX:NEAR ...
Kindly remember, Elliott Wave is highly subjective, i will post if there's a new update on my perspective. Trade safe, Everyone! Cheers.
Observing the price action of NASDAQ:AFRM , it is evident that it has been navigating through a corrective wave since its inception. Recently, it has culminated the larger corrective Wave B, under which it has also completed the primary Wave C. The completion of Wave C was marked by the termination of Wave 5. This progression implies that NASDAQ:AFRM is now...
The China tech sector is looking was oversold and due for a sizeable rebound soon. Alibaba (BABA), among others, seems near to complete its corrective B wave and start a new upleg. Only a break below last year's low would invalidate this view.
Treasury bond - 10Y US Notes came down a lot in the last two years but this cycle can now come to an end as we can see five waves down into 2023 lows ona weekly time frame. In fact, we also see five subwaves completed within wave (5) on a daily chart after prices recovered and break above the trendline resistance. The move is strong, thus we think that more upside...
Observations indicate that NASDAQ:COIN is currently within the fifth wave of a broader wave C. Notably, yesterday saw a reversal from the 0.5 retracement level, signaling the completion of wave 4 and readiness for the forthcoming wave 5. It is customary for wave 1 and wave 5 to exhibit equality in length, a consequence of the extended wave 3. Anticipating this...
Hi everybody! On weekly Chart the trend is bullish , but although the pair formed a nice impulsive rally, at the moment, I still consider the main trend as a big corrective pattern (ABC Pattern). Even though the price rejected from 149.25 area (wave C), the wave was very steep and I don't rule out its transformation into an impulsive wave (12345). If this happens...
Nvidia remains impulsive and within it's wave iii of v of 5. The manner in which price is sub-dividing and given it posture of finishing of it's wave 3 shortly towards the $600 area, this could complete prior to earnings, or result in a sell the earnings event.
Kindly remember, Elliott Wave is highly subjective, i will post if there's a new update on my perspective. Trade safe, Everyone! Cheers.
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Price action and chart pattern trading setup > Global pattern bullish complex inversed head & shoulders pattern breakout > Local bull flag breakout EMA200 dynamic resistance with strong bullish candle - a possible ABC bullish wave targeting new wave 1 > Support pullback entry level : EMA200 zone > Target 2X bull flag pattern @ 0.786 - 1.272 fibonanci extension...
Another day another Cement stock! The cement sector does not seem to have any shortage of upside potential even in 2024. Another stock with a good trading setup is DALBHARAT. The stock is entering into wave III of Wave III of Wave 3(i know it sounds crazy but that's how the extensive sub-division of cement stocks has been) INR 2260 which happens to be reversal...
Price action and chart pattern trading setup > A possible uptrend scenario with ABCDE symmetrical triangle major wave 4 ending E - wave position, just above SMMA200/100/50 week making its way up to the triangle resistance wave D. > Target: Wave projection target breakout triangle resistance from position E-wave as TP1 +30% upside > Stoploss: E-Wave position -8% -...
In this age of internet and mobile entertainment, is there a scope of survival for a satellite television provider? Well the above chart attempts to make a projection of the path the Dish TV stock can take in coming years based on the rules and guidelines of the Elliot wave theory. To highlight the most important thing about it, the stock had a clean impulsive...
Dollar has shown a great volatility in terms of sharp and strong movements in the last few years, this instrument defiantly have a lot to prove to us before we change our long term view from Bearish to Bullish. Primary Count : Tracking the move from Jul 23 as an incomplete correction, missing one more leg higher towards the 108.28-110.36 area before the next...
Kindly remember, Elliott Wave is highly subjective, i will post if there's a new update on my perspective. Trade safe, Everyone! Cheers.
With this mornings breach of $507, and as long as price is above $473, we should now be sub-dividing higher as per the chart attached in our final wave 5 advance to complete a very long term pattern and a very high potential of a MAJOR TOP.