A 5-wave impulsive rise was spotted in SBIN beginning on 26Oct and ending on 16Nov.The stock moved 8% during this impulse.
The correction that began on 16 Nov was quite steep and swift forcing the stock to give up on 70% of the gains it made during 'wave i' phase.
Now, however after having completed the correction the stock is set to move up again in 'wave iii'...
In the micro count, it appears we're in our wave iv with another low to come to complete. From there I am expecting one more high to complete this two-decade pattern.
Price is currently testing the lower boundary of a daily bearish channel , the 1 FIB extension level , and a long-term support area . This supportive cluster could potentially lead to the formation of a low around this price level.
On the other hand, the bearish move in price appears to be a corrective bearish ABC move , correcting approximately 61.8% to...
Today's session will be very important for FX:EURUSD pair, especially after the data that will be released later. Having said that, the trend is bullish on intraday chart and the next bullish target should be around 1.1045 area. From a technical point of view, this rally was supported by the bottom swing formed around October 13th (see analysis below).
The...
Wave of the day.TSLA
1. Elliott Wave Perspective.
We are for now in a correction as you can see from the graph above.
I have utilized the Kennedy Channeling Technique. As long as the price stays within the parallel lines, we are experiencing a correction.
After a correction is done a motive wave always takes place. From a strict count, we could have a 1-2...
Hello Traders!
The FED's monetary policy is not convincing the markets, but Powell seems very determined to meet his inflation targets. In near term, market seems to want to counter this hawkish monetary policy, but that could change going forward. In short term, yields remain at high levels and I don't exclude that this rally could continue for the last bullish...
hello dear traders and colleagues. Lets have a look at a very long term chart of CADJPY.
If we want to interpret the chart using Elliott wave principle we can see from the bottom that we have completed a 5 wave impulsive bullish move (corrective wave 4 is running flat formation) and then we can see a 5 wave bearish impulsive (which also labeled as wave A).
Now...
Following WBD for quiet a few years, and we could witness now a bottoming process, where either we have the lows already in, or we should be near to it.
On the several year-prospect we had already a wave 1 (or A wave) to the upside, with a wave 2 several year pullback as either as a-b-c (with an overshooting b wave to the upside), or a WXY structure.
Yellow...
Honestly, I do not think the correction is over, I think we may see near Covid prices again... The lack of a "covid wick" on the monthly is the biggest giveaway to me.
I must admit, my macro has errors and therefore, can only trade my micro, however, at the end of this set we could really dump. I know Bulls are calling for buys at 28k, but honestly, with the...
According to the President of Israel, a ground attack in Gaza is about to start soon. The gold price has shown bullish behavior several times on speculations of a possible ground attack, which could lead to a new level of escalation.
Gold corrected more than 40 points after reaching the recent peak at 1997, and I assume that the 4th wave low is in at 1953.
The...
If this market will find traction and have a follow-through day, I will bet on CRWD being one of the next up-cycle leaders.
IBD 94 Relative strength and 99 Composite and EPS ratings are markers of a superb company. The industry group is 35 out of 197. High double and triple quarter earnings growth and stable 40+ sales growth for 3 qrts in a row; with stable 35+...
The Cement company is completing a zig zag correction(ABC or 5-3-5) to an impulse wave it had shown in Mar.2023.
This impulse can either be considered as beginning of a new bull market and hence be considered as wave 1 or if it is to be considered as a corrective wave it can be marked as wave 'A'.
That does not change the fact that a 5-wave impulse is always...
Deyaar is one of the largest developers in Dubai. Its real estate ventures include major growth corridors and prime locations, including Business Bay, Dubai Marina, Al Barsha, DIFC, Jumeirah Lake Towers, Dubai Production City, Dubai Silicon Oasis, Al Barsha South and Al Barsha Heights.
The stock of this company had a breakout from an important horizontal level of...
Hello Traders,
Here is the analysis for GBPJPY. I project this current movement as the zigzag pattern for wave 4. I will enter buy after wave 4 is complete. My stop loss will be at the invalidation level.
- i am far to be Elliot Wave expert and to be honest i am not a fan.
- there's a lack of precision and EW can be extended.
- Don't forget that the real name is " Elliot Wave THEORY ".
- included a Fibo Analysis + Trend Analysis + famous bubbles.
"The Elliott Wave Theory is a form of technical analysis that looks for recurrent long-term price patterns related to...
Starting with the big picture containing all the price action within Trading View charts.
Based on fib extension levels my long-term green labeled count is my primary. Purple is an alternative, but again, based on fib extensions levels it seems unlikely that purple is the optimal long-term count. Nonetheless, in either scenario, we should be entering a...
