I have been following CIGNITITEC since it did a clean 5 wave impulse since May 2022 lows. After the impulse, it did a retracement which completed near previous degree 4th wave in November 2022. From that point, it again did a clean 5 wave impulse up, which I think is just the wave 1 or…
Based on the Elliott wave counts of most cryptos, I think we are in a pullback mode which might continue for few weeks before we see a fresh impulse that could drive the cryptos to new all time highs. Meanwhile, MATIC caught my eye as it looks relatively more bullish as it seem to have…
It has been few weeks before I shared an update. Had been busy on both personal and professional fronts so did not get much time. Moreover, charts too have been quite messed up with large moves on either sides. The worst might be behind us as we seem to have completed complex correction (WXYXZ) in…
This post is purely for education purpose to depict one of the most well known chart pattern, head & shoulders (H&S) in action. Weekly chart of Tesla shows a textbook H&S formation which broken down from neckline during end of October this year. As per classic TA (technical analysis), we measure the height of head…
DXY has been slowly completing the downward ABC formation and now showing early signs of reversal from the low made on 14th December at 103.448. Of the ABC formation, last leg C was was an impulse (shown as i-ii-iii-iv-v) and v was an ending diagonal which should have completed the down move. If I am…
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….