AXIS BANK LTDLong
3rd Wave of Flat correction (A+B=C)
Volume was shrinking when the rectangle pattern made a break out.
This means there is lack of buyers. After breakout it retraced 100% of breakout.
Now we can see a flat correction pattern with strong B- wave. Wave-B is between 101 to 123 % of wave –A.
Probability:
There is a chance wave-C will completely retrace wave-B
Method of Confirmation:
• Volume spike
• Price action
*Please confirm before taking a trade or investment .This is not a recommendation to Buy or sell.
This means there is lack of buyers. After breakout it retraced 100% of breakout.
Now we can see a flat correction pattern with strong B- wave. Wave-B is between 101 to 123 % of wave –A.
Probability:
There is a chance wave-C will completely retrace wave-B
Method of Confirmation:
• Volume spike
• Price action
*Please confirm before taking a trade or investment .This is not a recommendation to Buy or sell.
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