Current Count
Cycle: wave 3
Primary: wave 4
Intermediate: wave C
Minor: wave 5
Minute: wave 5(Expanding Diagonal)
Current Structure: Irregular Flat or Elongated Flat
Logic for Irregular Flat
Primary wave 3,Intermediate wave 4 @ 900
Primary 4, intermediate wave A 138% extention from wave b top @ 900
Primary 4, intermediate wave B 123% retracement @ 906
RSI divergence with price from last two lows.
Incase of this being an elongated flat there is 161 extention of Primary 4, intermediate wave A @ 823 and 138 retracement of Primary 4, intermediate wave B @ 837 and 38 retarcement of primary 3 @ 855
Further from here we can see bounce in form if wave x in case of this being a double correction(which is highly likely)as this being a primary 4 or price can take out primary wave 3 high in case of bounce being an primary wave 5.
One can build position once 2-4 trendline get's broken along with wave 4 high @ 1027.
target's can be calculated using retracement of intermediate wave c,if it crosses 61.8% then we can conclude that wave 4 is done and current bounce being an primary wave 5,if it fails to clear 61.8% retracement level then we can assume this bounce to be wave x of double correction.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
Cycle: wave 3
Primary: wave 4
Intermediate: wave C
Minor: wave 5
Minute: wave 5(Expanding Diagonal)
Current Structure: Irregular Flat or Elongated Flat
Logic for Irregular Flat
Primary wave 3,Intermediate wave 4 @ 900
Primary 4, intermediate wave A 138% extention from wave b top @ 900
Primary 4, intermediate wave B 123% retracement @ 906
RSI divergence with price from last two lows.
Incase of this being an elongated flat there is 161 extention of Primary 4, intermediate wave A @ 823 and 138 retracement of Primary 4, intermediate wave B @ 837 and 38 retarcement of primary 3 @ 855
Further from here we can see bounce in form if wave x in case of this being a double correction(which is highly likely)as this being a primary 4 or price can take out primary wave 3 high in case of bounce being an primary wave 5.
One can build position once 2-4 trendline get's broken along with wave 4 high @ 1027.
target's can be calculated using retracement of intermediate wave c,if it crosses 61.8% then we can conclude that wave 4 is done and current bounce being an primary wave 5,if it fails to clear 61.8% retracement level then we can assume this bounce to be wave x of double correction.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis