Tesla (TSLA) has reached its resistance of the lines linking the tops and has reached its overbought area on RSI(5) on a weekly basis. We are expecting a pullback, as long the resistance near 300 is holding, towards at least 241, 218 or max 140.
This idea is based on the Elliott Wave Theory - involving the use of ending diagonal pattern. An ending diagonal suggests an end to the ongoing trend (in short-medium term). It involves 5 sub-waves and is mostly broken downwards (or upwards) with a heavy momentum. Overall the market seems to be completing its 5 waves structure too (wave count mentioned in...
Hey all. In this video I will look on the ETHUSd which asha nice upwside potenial after current pause that can find a support and new buyers new 1800. One of the main reasons why Ethereum could stay in the uptrend is US Dollar which came down recently after inflation cooled down to 3% as reported last week, which can easily cause a bigger recovery for the...
We discuss two scenarios that could play out today. Depending on the data we get, both a long trade and short trade are possible.
I use the Elliott wave and wave structure at H4 timeframe to come up with the following OANDA:XAUUSD trading plan below: On the H4 time frame, I have found wave 3, and am waiting for wave 4 to form at the 38.2 Fibonacci price zone ( 1937-1940). --------- My Setup: Entry BUY: 1937-1940 Stoploss: 1925 TP1: 1960 TP2: 1980 --------- Thank you for your cmt and boost
I have been studying and experimenting with the original Elliott Wave theory for several days now. I've delved into the concepts and this is just the beginning, only 10 out of 100 in terms of results. Clearly, 90% is still incomplete for me. So, I'm looking for something more exceptional than this. Sometimes, time might help me develop something better. Haha... :)
This is certainly the most important support area on daily chart (1.900/1.885), if it fails a deep bearish leg is expected. That said, if some reversal patterns form on small time frames, this could be an interesting area to try and take a long position. Like to support my work. Trade with care!
In the lower timeframe, we are waiting for an ABC pullback to finish the wave ((iv)). From there, we can go long again.
I am using Elliott wave and structure H4 timeframe to setup this order at current price Entry and TP, SL as like chart! Happy trading!!!
In the 1 hour, it looks like the DOW is close to finishing an impulse to the upside. If we see the fifth wave ending with divergence, traders can initiate a short (against the main direction). A safer way to trade is to wait for the wave ((ii)) pullback and go long from there.
In the higher timeframe, we are doing a pullback. Also, the lower timeframe looks bearish. We are waiting for an ABC correction to the upside and initiate a short from there.
We discuss three scenarios that could play out today. We reached the area where the wave ((4)) can end. In case of a single correction, we should start to see an upside movement. In case of a double correction, wave ((4)) can retrace deeper. Finally, we also might see no wave ((4)) if the preceding three waves up are part of a larger WXY correction. In that case,...
According to my technical analysis, a correction in Bitcoin prices should begin to be generated, it has generated the 5 Elliot waves, it has respected the fractals, it has generated a double top and it is at a 52-week high, so which the greatest probability is that it will fall between 38% and 50% according to the Fibonacci retracements to continue with the upward...
In the lower timeframe, we are waiting for an ABC pullback to finish the wave ((iv)). From there, we can go long again.
In the 1 hour, it looks like the DOW is close to finishing an impulse to the upside. If we see the fifth wave ending with divergence, traders can initiate a short (against the main direction). A safer way to trade is to wait for the wave ((ii)) pullback and go long from there.
Dax is in an impulsive uptrend since October 2022 and it can be trading in 5th wave, but there can be still room for more upside if the current drop from ATH will stay in three waves. For now we have seen some nice bounce, back above 15700 bull/bear level so it appears that bulls are still here, especially now when price also broke through the channel resistance...
In the higher timeframe, we are doing a pullback. Also, the lower timeframe looks bearish. We are waiting for an ABC correction to the upside and initiate a short from there.
We discuss three scenarios that could play out today. We reached the area where the wave ((4)) can end. In case of a single correction, we should start to see an upside movement. In case of a double correction, wave ((4)) can retrace deeper. Finally, we also might see no wave ((4)) if the preceding three waves up are part of a larger WXY correction. In that case,...