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Elliott Wave

CHFJPY Elliott Wavehello friends In the CHFJPY currency pair, we see a complete 5-wave pattern with waves 1-5 completed. Apparently, wave 5 is an end triangle, one of its characteristics is the formation of small waves that overlap each other. These microwaves diverge from each other. This means that the price has increased, but the RSI indicator has decreased. Wave 3 has a divergence with wave 5, which confirms the hypothesis. Although nothing is certain in the financial markets, so stop loss should be placed in the right place and capital management should be followed. My suggestion is to set a stop loss in the range of 174.22, of course, provided that the bottom trend line of wave 5 is broken. Our hypothesis for trading in this analysis is the break of the trend line drawn at the bottom of wave 5. If the desired bottom is broken and pullback hits it, you can enter the sell trade. To support me, I recommend you install Trading View software on your phone and see my analysis and support me with your comments and Boost. Be successful and profitable.
Short
by M_Gheysvandi
Uber (UBER): What a ride!Uber (UBER): NYSE:UBER We've recently added Uber to our portfolio, noting its astonishing 400% rise from the COVID-19 low of $13.71. This surge is significant, and we anticipate that in the current wave 3 we're experiencing, the price could reach between $101 and $201. The precise target seems to lean towards the $101 mark, aligning with the 161.8% extension level. Currently, the high is at $81.86. We expect a pullback in the coming days and weeks to between $59.40 and $52.46, corresponding to the 38.2% to 50% retracement levels. There's a possibility of forming an Expanded Flat leading to wave 4, a pattern observed in waves 1 and 2, suggesting a potential deviation from the anticipated zigzag or other formations. Thus, surpassing the $81.86 mark would not be incorrect, provided it does not exceed the 138% threshold. Following this wave 4, we foresee the completion of wave 3 at a minimum of $101. A limit order will be placed at the first sign of weakness.
NYSE:UBERLong
by freeguy_by_wmc
1
Uber (UBER): Missed the Rally? Here comes new opportunitiesIt's been a while since we last looked at Uber, and the stock has moved perfectly since then. Uber reacted exactly as expected to our desired area, but unfortunately, we didn’t buy any shares at the time. If you did, congratulations – this position is now up 60.8%! Shares of rideshare companies Uber Technologies and Lyft surged on Friday, following Tesla's underwhelming Robotaxi reveal. Uber has shifted its focus away from developing autonomous vehicles and is instead concentrating on expanding its marketplace for riders and drivers. This shift has created a robust network effect, making it increasingly difficult for competitors to match Uber's scale, according to a recent report by Business Insider. Uber’s asset-light business model, which doesn't involve owning or maintaining vehicles, has been financially successful, generating $1.7 billion in free cash flow in the second quarter. Now, Uber has reached a new all-time high, and if we look back at the chart, it's easy to see a clear and powerful pattern. After entering our desired area, Uber made a sharp V-shaped correction, followed by a key level retest. In a short period, NYSE:UBER turned bullish, marking a complete turnaround. We will be closely watching Uber Technologies' upcoming earnings report, scheduled for October 31, 2024. After this event, we’ll update our chart and look for possible new opportunities.
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NYSE:UBERLong
by freeguy_by_wmc
15
SPX Short: Peak ReachedFollowing my previous short call on SPX (SPX Short: Seeking Peak) where I gave a lengthy explanation of the technicals and gave a peak target, this idea is telling you that the peak is reached and now is a fabulous opportunity to enter the market. The stop is above the high made today. Do take note that I’ve changed the Fibonacci extension level such that wave 5 = 1.618x Wave 1. Of course, in order to execute this trade, you may need to start trading during Asia hours when the CFDs and Futures open for trading. No matter what, remember the stop in case this idea is wrong.
SP:SPXShort
by yuchaosng
11
US500 evening updateThis count has US500 in wave ((5)), with key support at 5677.8. I have area in green ellipse as a complete five-wave structure, with 1>3>5. This remains valid as long as price remains below 5829.7. If price remains below 5829.7, then will look for corrective structure to finish above 5677.8 for a wave (2) of ((5)) or an impulsive structure to take out support at 5677.8. If 5829.7 holds as resistance and 5677.8 breaks as support, it would suggest five-wave structure from 5 August low is complete.
PEPPERSTONE:US500
by discobiscuit
3
Looking For Next Market Top AgainLooking for next top Submillennium 1 Grand Supercycle 5 - green Supercycle 1 Cycle 5 - orange Primary 5 - blue Intermediate 5 - pink Minor 5 - yellow Minute 5 - green I will try to find the next top off simply modified wave theory. First we need to set the baseline. I prefer the chart SPX500USD as it encompasses 23 hour trading during the week and can capture movement not always distinguishable in the SP:SPX chart. My first step is always to identify the location of wave 3 (if it exists). I do this by using my Elliott Wave 3 Finder v2 in conjunction with my RSI triple confirm indicator and a simple RSI 9. My wave 3 indicator will have a painted background at potential wave 3 locations, blue background for bearish reversals and pink for bullish reversals. My triple confirm RSI should signal in conjunction with the actual wave 3 point, red for bearish reversals and green for bullish reversals. My wave 3 indicator tends to spot wave 3 of 3 by displaying a gap between painted backgrounds. These indicators signal upon market close and are not considered finalized signals until the next bar begins. My baseline is in the 2 month chart. I have worked through the historical SPX chart and believe we are in the fifth and final wave (Grand Supercycle 5) of a larger structure (Sub Millennium 1) that began in the 1800s. This specific wave 5 began at the market bottom in 2009, and we are only in the first (Supercycle 1) of five waves to the upside. I do not expect a catastrophic market top for many decades to come. This chart picks up around 2004 to the current time. We are likely in Cycle wave 5 which began at the market low in October 2022. I have determined Cycle wave 3 to have ended at the peak at the beginning of 2022 based on the wave 3 indicator and RSI agreeing on a reversal point. In the moment, I would not have agreed the market topped in January 2022 as the indicators were still signaling. It is only on the preceding bar not producing a signal that an event is confirmed. Next I will determine common wave extensions off (Fibonacci levels) of Cycle wave 3's movement which began at the low in January 2016 at 1,806.25 and ended at 4,820.20 in January 2022. Wave 3 moved 3,013.95 points. Cycle wave 5 could move 123.6% to 138.2% of Wave 3's movement. These means a potential endpoint is between 5,531.49-5,971.53. This will be the orange outlined box in the following charts and the main chart above. Next I will try to identify a current Primary wave 3 inside of Cycle wave 5. My indicators point to Primary wave 3 ending around the mid-July 2024 on the 2-day chart based on the gap in the wave 3 indicators. There is not an RSI 3 signal in the 2-day chart for Primary wave 3, but there was one for Minor wave 3 in Intermediate wave 3 in Primary wave 3 around February 12, 2024. We can attempt to confirm this by seeing where the end of Intermediate wave 5's movement extended too. If Intermediate wave 3 began January 5, 2024 and ended March 29, 2024, Intermediate wave 5 topped close to 161.8% of Intermediate wave 3's movement as seen below: Based on this assumption, Primary wave 3 was likely over by mid-July 2024. The next Fibonacci wave extension levels for Cycle wave 5 could see this wave end between 108-123.6% of Primary wave 3's movement. This places a potential top between 5,806.48-6,052.34. This will be the light blue outlined box in the following charts and the main chart above. We will next move inside of Primary wave 5 which possibly began at the low from the beginning of August 2024. In looking for Intermediate wave 3 inside of Primary wave 5, the indicators point to Minor wave 3 of Intermediate wave 3 occurring on September 19, 2024 and the Minute wave 3 inside of Minor wave 3 occurring on September 13. If we find the Intermediate wave 5 extension from this Intermediate wave 3, a potential top sits between 5,816.26-5,936.51. This will be the pink outlined box in the following charts and the main chart above. Next we try to identify where we are in Intermediate wave 5. The 2-hour chart here indicates a possible Minor wave 3 occurring on October 9, 2024. A possible Minor wave 5 extension from here is a top between 5,825.38-5,868.50. This will be the yellow outlined box in the following charts and the main chart above. We can attempt to go a final level deeper inside of Minor wave 5. We currently have Minute wave 3 indications based on the high from earlier today at 5826.90. If this is the end of Minute wave 3, Minute 5 could top between 5,834.16-5,857.61. This will be the yellow outlined box in the following charts and the main chart above. Based on a this wave set being over a small timeframe, this top could happen before next Tuesday. This is zone of interest for a near-term top. This is purely theoretical, but Israel will likely strike at Iran soon. Iran has claimed they would respond quickly, but the prior instances saw long delays in the response. If Iran has an immediate response, a full on conflict would be underway in the Middle East. Not all wars are bad, but this one would likely impact oil and depending on the duration likely impact economies around the world. A contained conflict between a few nations likely would not spiral into a larger conflict, however, strong alliances on other side could turn this into a much greater event, closer to a world war situation. As drastic as this is, it could explain a potential near-term top. If conflict does not break out, we will likely see a short-term market top before continued movement higher and higher. Time will tell. Enjoy!
OANDA:SPX500USDShort
by StockSignaler
4
GOLD → Retest of descending channel resistance in front of PPI..FX:XAUUSD is forming a double bottom from which a rally towards strong resistance is forming. CPI showed worse than expected data, surprisingly. Manipulation? Price has not yet moved out of the corrective channel. Ahead of PPI. Annual inflation fell from 2.5% to 2.4% (expected 2.3%). The probability of a 0.25% interest rate cut in November rose to 86% (vs. 0.5%) The disappointing Initial Jobless Claims data in the US overshadowed the hot CPI data for September, keeping the hope of a rate cut in November... Ahead is PPI, a fairly important report that could affect prices... The metal is trapped in a descending channel and there is a huge liquidity density above 2645. The bears, the custodians of this liquidity, may put aggressive pressure if PPI shows strong data... Resistance levels: 2645, 2651, 2660 Support levels: 2637, 2623, 2600 Technically, gold is in a correction phase. From the bottom of the channel a strong movement of 2% has been formed and there is not much potential to break through the resistance. The most probable outcome is a decline after a false breakdown or consolidation below 2640. BUT! It is not excluded that a surprise in the news can turn the picture in the opposite direction.... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
15
EUR NZD ELLIOTT WAVE ANALYSISThe EUR/NZD currency pair has completed its five-wave cycle, indicating a potential transition into an ABC corrective phase. Traders can anticipate a downward correction with initial price targets aligned with key Fibonacci retracement levels. The first target is set at the 38.2% Fibonacci level, providing an early take-profit opportunity as the correction unfolds. Should the corrective wave extend further, the second target is identified at the 61.8% Fibonacci level, offering a secondary profit-taking point. This strategic approach leverages the Fibonacci retracement to optimize risk management during the anticipated correction in the EUR/NZD market.
by ayad2019omar
USDCAD 1:7 RR trade idea The dollar index almost hit a 2 year low but the price reversed only half a percent higher from the said level. After CPI news, the dollar ended its bullish streak, after touching the highs of 2020. For that reason the USDCAD, which has just finished its second bullish leg by the Elliot Wave theory(6 bullish days in a row). Currently looking for a second correction, to what quarterly VWAP high indicates. Looking for a 7% short trade setup(1% risk) targeting 1.365(Quarterly VWAP + 0.382 retarcement) for 100 pips. This analysis is taught and provided by Fractals Trading Community. Trade safely and expect the unexpected, Mei
Short
by martinmei
3
Benqi (QI) — Ready to FlyAnother strong altcoin and the next few days can be a perfect moment to open a long position. On support and moving sideways. Corrective wave pattern completed after a retracement to the golden ratio. Trendline breakout and retest: Strong against Bitcoin, holding support: The chart shows major resistance levels as well as three sets of Fibonacci targets: retracement levels of the bear market, extensions of the wave ((2)) and 1.618 extension of the wave ((1)). Best places to sell are where resistances coincide with the Fibonacci levels: $0.074-$0.09 zone and $0.24-$0.4. Maximum upside potential that I'm considering for this token is therefore around 2000-3000%.
CRYPTO:QIUSDLong
by function_mechanic
3