Nifty 50 is seen completing 50% retracement of the prior leg i of 3 with today's dip.
The wave ii has achieved a 50% retracement of the wave i.
wave iii of 3 should now take off by today after noon.
the target for wave iii would be approx 22500 from here.
Today's intraday low of 22075 should most probably be a crucial bottom.
22000-22100 currently is the strong...
Harley-Davidson is just starting to take off in wave III.
The initial "wave I'' was witnesses in the stock through the period between late Oct-late Dec.
Wave II was a mere 38.2% retracement of the impulse(a sign of strength) and now the corrective pattern of the wave II seems to have completed all legs.
Wave III projected target zone comes to approx....
The TAIWAN market index(TWSE) is spotted moving up in wave iii of wave 3 structure.
The last impulse in the index(wave i of wave 3) was seen during the months of Nov-dec and then came a subsequent correction of the same that retraced 38.2% of the rise.
Now that the corrective wave ii is done, the index has started the rise again in wave iii.
Wave iii of 3 can be...
The stock displayed an impulsive rise between Oct-Dec 2023 and a subsequent correction of the same through the months of dec-jan.
The correction was almost an 61.8% retracement of the impulse and the price shot up quite strongly as soon as the corrective wave was over.
Now the stock is already in wave 3 structure and with sub-divisions or without them $126 is...
Nifty has been seen gone bonkers and making swift moments upwards, without giving any breather to option writers. India VIX too marching along nifty(as suggested in previous post).
Here in this study, on the left, I highlight the fund managers' chart or Quarterly Chart of Nifty. With help of #Elliot wave principles, I have marked the #Fibonacci Extension level on...
The stock was seen rising in an impulsive 'wave I' structure between March-Aug 2023.
Wave II happened between Aug-Nov and wave II managed to retrace 50% of wave I.
In the past 2.5 months, the stock displayed a minor wave i of wave III and a retracement of the same in the form of minor wave ii.
The stock now looks all geared up to move up and cover the remaining...
The Stock witnessed a five-wave impulsive rise beginning in March 2023 and ending in July 2023.
The impulse move led to a 105% rally in the stock in a matter of just 5 months.
Since the completion of the wave 1 in July however, the stock went into the corrective wave 2 structure between July-October. The corrective phase can be marked as an Elliot wave...
-- On the 30-minute chart, GBP/USD is trading in a downtrend. The pair has broken below its key support level at 1.2100, and is now targeting the 1.2000 level.
-- On the 4-hour chart, GBP/USD is also trading in a downtrend. The pair has broken below its key support level at 1.2200, and is now targeting the 1.2050 level.
-- On the daily chart, GBP/USD is also...
Technical analysis
Elliot Wave Theory perspective - the price is in a small corrective uptrend, as marked in the chart. Don't get too hyped on this and remember, the market is unpredictable, but for now I will mark this as LONG, for a short time.
On the 30-minute chart, the EUR/USD currency pair is currently trading in a range between 1.0685 and 1.0695. The...
The technical structure on daily chart is still very interesting, our short term setup has been corrected (see chart below), but now the pair is approaching an important long term resistance around 0.6880 area. That said, we still don't rule out some bullish consolidation in short term, but once the impulsive structure on 1H chart is completed, we expect an...
Gold has had a fantastic bull run since December 2015, however this trend may be due for a reversal ahead.
The Green wave 5 seems to have completed, so an entry on a short position can be taken at the current price of 1960.39
Further size can be added to the short if the price reaches 2068.32 as this could be the final push upwards before the reversal.
The...
Elliot wave rules:
Rule 1 - Wave 2 cannot retrace more than 100% of Wave 1
Rule 2 - Wave 3 can never be the shortest of the three impulse waves. It doesn't necessarily have to be the longest, but it cannot be the shortest.
Rule 3 - Wave 4 cannot overlap Wave 1
The Guideline of Alternation suggests that Wave 2 and Wave 4 will alternate, or be different in their...
... it can NOT lose the support at 403.90, or count invalidates, and has to break above 419.5 for confirmation, which will likely trigger an impulse higher up.
In my opinion if ever BTC goes down these next few days it still has another move to the upside to complete a macro 5 waves patter, before we see a big correction for the macro wave 2.
Ps this is IF BTC doesn't break it's current resistance.
I Want to point out a few things about the last bitcoin's possible reversal point:
1- We had the highest volume on daily candle since 2023 with a bullish pin bar
2- The price rejection is from the previous cycle ATH around 19700$ which makes it an important level (Maybe the strongest support till 16000$) and also near the bottom of the ichimoku cloud
Now, IF we...
