1. Five-Wave Impulse Pattern: The chart shows a clear five-wave impulsive move downward, labeled as (i), (ii), (iii), (iv), (v). This indicates that a downward trend completed its impulsive phase. 2. ABCDE Correction: The correction phase has begun, marked as (a), (b), (c), (d), (e), forming a potential triangle or contracting pattern. Each wave within the correction alternates direction, staying confined within the triangle's converging boundaries. 3. Wave (e) in Progress: Currently, the price appears to be completing wave (e), which is the final leg of the corrective triangle. The next move could break out of the triangle, resuming the downward trend in alignment with the previous impulsive wave. 4. Future Projection: If this is a classic Elliott Wave triangle correction, a significant impulsive move is expected to follow, likely continuing the downtrend. The projected target for the next wave is drawn below, indicating a bearish continuation. 5. Key Levels: Resistance: The upper trendline of the triangle. Support: The lower trendline of the triangle. This setup suggests that traders should watch for a breakout confirmation, as the price is nearing the apex of the triangle. A break below the lower boundary would indicate a bearish continuation, while a breakout above the upper boundary could invalidate this bearish outlook.
CME_MINI:MNQ1! "Successful trading has always been about understand the convictions, the strength and the weakness of buyers and sellers. Once you understand what the other traders are doing in the market, you can successfully trade with them." -Michael Valtos Today on MNQ I called a Play LONG however was stopped @ Breakeven made a few ticks in profit however Market still ran all the way to our TARGET +4R... 2025 is going to be BIG!!!! Remember; "Our Profession is to Manage the downside costs of printing HIGHSIDE returns of $$$ consistently. Done correctly, well Abundance awaits us." -500KTrey https://www.tradingview.com/x/qLtRswZY/ https://www.tradingview.com/x/yfE4l8lo/ https://www.tradingview.com/x/zU8TYOBr/
NASDAQ:RIOT in minutes time frames The wave (c) of Minute degree wave ((y)) of the entire correction in Minor degree wave 2 is completing now. So FINAL decline of wave (c)'s fifth wave is expected. The final target is just exceeding 10.03
Market seems to be in accumulation phase with confluences of bullish divergence on 4h Time Frame. Further, if the market breaks out of consolidation phase, we can expect a rally till 4h resistance level at 0.57544. STOP loss can be market at 0.56052. Additionally, sentiments of market for this pair favors the BULL for more than 90 percent.
- **Stop-Loss (SL):** $2.01 (below support). - **Entry Point:** $2.15 (confirmation of breakout). - **Target 1 (T1):** $2.25 (initial resistance). - **Target 2 (T2):** $2.41 (extended breakout target).
On the above 6 week chart price action has corrected 98% since February 2021. A few reasons now exist for a long interest, they include: 1) Price action and RSI resistance breakouts 2) Price action confirms support on past resistance.See 15 year chart below. 3) Regular bullish divergence. This divergence prints on legacy support / resistance. 4) No share splits! Is it possible price action corrects further? Sure. Is it probable? No. Ww Type: Trade Risk: Small market cap, keep positions sizes small Timeframe for long entry: Weeks Return: 500-2000% Stop loss: will say elsewhere 15 year chart https://www.tradingview.com/x/8nurSIv5/
For the next 8 TD from this morning we have 7 more up days in this signal I would NOT be short or Long PUTS in RSP IWM QQQ SPY Best of trades WAVETIMER
Some people consider short-term 1 hour, while others consider short-term 1 week. Still others can consider 3 months to be short-term. Our systems are mixed. How are you doing my friend? I am guessing you are getting ready for tomorrow and have no time for work today. That's ok! Thank you for taking the time to read and for your continued support. In our system and trading strategy, short-term means within 30 days; 1 month. We can see a chart like WUSDT with higher lows and consolidation happening since August 2024. It can move fast, short-term. But see what happened with this one; the low was hit in August and the market conditions back then were the same as they are today. While some pairs broke up and grew strong, this one continues sideways. We can spot the signals and the charts but we cannot rush the market. Some pairs move within days after sharing while others can take months. Some will move within hours, some others will start moving only after 2-3 weeks. Some pairs will go down rather than going up. The longer the consolidation phase, in this case since August, the closer we are to the bullish breakout. Wormhole is getting very, very close. It should move fast; short-term. Mid-term for us is within 1-3 months. Long-term is 3-6 months. Long long-term stands for 6 months or more. This is a great chart setup and can move within days or weeks. The trading volume is quite revealing, there is a strong increase after September and then it remains high. This is coupled with higher lows; an ascending triangle long-term. This is a good project, it seems. This can turn out into a very good trade. Buy and hold and just be patient, let the market take care of the rest. If you want to catch a big move and do it fast, diversification can work... But the mindset of earning fast or doing anything fast can result in disaster and small but accumulative loss. There are many ways to approach this market, these charts, these pairs. I always recommend patience... It is a sure way to win; you can set it and forget it. Thanks again for your continued support. Namaste.
Checked the charts. Love this type of structure. Expecting a quick reclaim of levels for CRYPTOCAP:BTC thanks to shorts getting stopped out/liquidated.
The EUR/USD currency pair is in a downtrend on the 4-hour timeframe and is currently fluctuating between two key support and resistance levels. Key Levels: 1.0449 Resistance: This level acts as a short-term ceiling to prevent further price increases. If this level is not broken, selling pressure could intensify the downtrend.