Apple has formed a bearish head and shoulder pattern clearly visible in weekly timeframe. Right shoulder has fallen in 5 waves as you can see in the chart. And the stock seem to have completed zigzag ABC correction. 5 waves impulse down in a confluence that this H&S might break down. As per EW counts,…
Update [16th Dec]: Today the stock closed below H&S neckline. However the 5 waves seem clear now, which means a pullback maybe on cards. Crompton Greaves (NSE:CROMPTON) has formed a nice H&S pattern. Right shoulder seem complete and price is testing the neckline. So far, there is no breakdown and volume activity is also missing….
Nothing much has changed since last time I shared the update on BTC. We seen to be in final leg Z of W-X-Y-X-Z complex correction since the November high of 69000 last year. So far, Z seem to be a-b-c correction out of which a and b seem complete and we are in final leg…
There has been a slight change in counts from the previous update, though overall view remains the same. I thought that 5 waves down are done in wave C and now some kind of pullback on upside should occur. By looking at current price action, the low (what we though was wave C complete as…
Ethereum doesn’t look very different from Bitcoin and they both seem to be doing the same thing. In the weekly chart, we see Ethereum in a complex correction (W-X-Y-X-Z) and ETH seem to be in last leg (Z) or correction which seem to be forming as abc out of which a and b look complete….
So the fresh DXY view seem to be working so far and DXY has completed a 5 wave decline from wave B which means C is complete. Further, we have had a weekly positive close since then which are early signs of next leg up starting. Now, this next leg up could be the fresh…
Everyone is talking about crypto crash given the sudden recent fall in majority of cryptocurrencies including Bitcoin, due to FTX and Crypto.com troubles. Twitter was full of tweets people getting out on a steep more than 20% fall last week in Bitcoin. Some other coins fell much worse. So where does the current situation leave…
As per the invalidation level specific in the previous update, counts I mentioned earlier are not valid anymore. Now I am recounting the waves from a new reference point, which is the swing high of 114.778, made on 28th September this year. We are still in corrective mode as per our previous updates but the…
Dollar index might be in late stage of correction. As per my current wave counts, we are in wave c of last corrective leg Z. W-X-Y-X-Z is a complete complex corrective structure in itself, but there could be corrections within corrections. Considering that, what we are taking as W-X-Y could be larger (W) and X-Z…
Dollar index has been in corrective mode after making the high of 114.77 last month. The fall from that high (marked as 1 in yellow – the second one) was clean abc which made me think that correction is over and we might start next impulse up. We did get some upside but in hindsight…