SPX – A Peculiar Reversal Or Straight Continuation
Timeframe: 4h
SPX has formed a corrective A-B-C zigzag formation on the hourly timeframe chart. The price has accomplished wave (b) at 4561, creating the final wave C of the corrective wave (c). SPX has occurred sub-wave 4 at 4333 and started forming sub-wave (5) of wave (C).
According to the Elliott wave principle, an impulsive cycle can only start after the breakout of the sub-wave (4). SPX has taken third support on the dynamic support line. Another clue could be the descending channel of subwave 2-4, and the breakout able to reach wave (B). If the price breakout wave sub-wave 4 of wave (C) at 4333, traders can trade for the following targets: 4416 – 4486 – 4540+.
We can see that the mid-term trendline is holding the price movement, and failure to sustain above the dynamic support can lead to worse conditions even if the price has retraced 61.8% of the overall move. Moving averages are trading above the price, and a rising RSI shows the strenth is about to come.
Premium subscribers will get trade setup with entry, exit, and invalidation levels.Continue reading
NSE HINDUNILVR – Price Action Analysis
Trade Setup – JKPAPER, GRSE & UFLEX
In the previous idea, we had traded the impulse wave after the completion breakout of the wave B. Short-term targets were achieved.
Visit here: NSE JKPAPER – Forecasting an Impulsive Pattern
Continue reading
Trade setup: NSE AAVAS, GODFRYPHLP & ESCORTS
NSE AAVAS – Will price reached the final target of 1975?
Have you traded AAVAS price action analysis?
Click here: Will NSE AAVAS be The Hottest Investment of 2023?
Click here: Will NSE AAVAS be The Hottest Investment of 2023?
We had written clearly,”If the price sustains above 1512, traders can trade for the following targets: 1727 – 1840 – 1975+.”
Timeline:
[12 September 2023]
- 09:15 AM – Price reached the first target of 1727, and made a new high of 1738.
If you have traded this setup for just first target, you could have made more than 15% in three months.
NSE ESCORTS Swing setup for premium members
Only subscribers can read the full article. Please log in to read the entire text.