I see Many try to Copy my style and try to represent as makki ka makki , but in reality it dont work like that
You need to have some Theory which should support on real time basis and should give approximate results of 90% above when traded
with rules and Guidelines
The Basic theory of Elliott wave Principal is firmly proven form many years but the difference is with its interpretations in the market by individuals
I am not here to explain the theory but one can understand it very much logically and take the necessary steps using Some Momentum indicators to indicate the strength or weakness
For Example if price have moved 3 time in impulsive manner then logically its due for correction , dont you expect the correction to take place ? dont you expect some sort of profit booking ? off course you must expect it and act accordingly so ideally when 3 impulsive move is done its very high likely will enter in correction which leads a complex trading system , which we refer as 4th wave
once the correction is over its almost certain it will have one more move up which we refer it as 5th impulsive wave
Theoretically wave 5 should be equal to wave 1 by price length and time taken for completing it ( So traders dont expect a fast move by selling Options or Buying Options which are time decay instruments )
During live movement in the scrip we often see they dont behave exactly and they have variations in them and one must expect it and act according to it
the difficult time comes for every one when trend ends or identifying the end of the move and how to get the confirmation of end of move ??
that is exactly based on your individual ability , intelligence , & real time action for taking up trade for next optimum move
Regarding scrip i have forecast it as 5 th wave , it does not mean it will end now but its on its peak , it can extend its move which is also one of the possibility
so one can look for short selling on reversal , preferably an strong indication of reversal candle is required for this scrip
Good luck
You need to have some Theory which should support on real time basis and should give approximate results of 90% above when traded
with rules and Guidelines
The Basic theory of Elliott wave Principal is firmly proven form many years but the difference is with its interpretations in the market by individuals
I am not here to explain the theory but one can understand it very much logically and take the necessary steps using Some Momentum indicators to indicate the strength or weakness
For Example if price have moved 3 time in impulsive manner then logically its due for correction , dont you expect the correction to take place ? dont you expect some sort of profit booking ? off course you must expect it and act accordingly so ideally when 3 impulsive move is done its very high likely will enter in correction which leads a complex trading system , which we refer as 4th wave
once the correction is over its almost certain it will have one more move up which we refer it as 5th impulsive wave
Theoretically wave 5 should be equal to wave 1 by price length and time taken for completing it ( So traders dont expect a fast move by selling Options or Buying Options which are time decay instruments )
During live movement in the scrip we often see they dont behave exactly and they have variations in them and one must expect it and act according to it
the difficult time comes for every one when trend ends or identifying the end of the move and how to get the confirmation of end of move ??
that is exactly based on your individual ability , intelligence , & real time action for taking up trade for next optimum move
Regarding scrip i have forecast it as 5 th wave , it does not mean it will end now but its on its peak , it can extend its move which is also one of the possibility
so one can look for short selling on reversal , preferably an strong indication of reversal candle is required for this scrip
Good luck