Bank Nifty | WXYXZ formation | Currently in Z wave
WXYX’Z is complex correction. In which WYZ are Corrective waves, X is retracement wave and can take any form.
Here WXY (Can also be considered as A)
X’ (or B) completed (at around approx 78% level) more pain looks less probable.
And now Z should come.
Z can be (61%, 100%, 127% of W or Y) Various books have various method for target calculations.
I generally take latest wave into Consideration for targets which is Y or X’.
Targets are based on Fibonacci relationships.
Disclaimer: I do not claim any profit or loss. I am not sebi registered and I have no guarantee of profits or gains or right predictions. These are just my opinion or thought ideas for learning the trade patterns, and feedback from experts to learn more. Please make any financial decisions after consulting your financial advisors.
Here WXY (Can also be considered as A)
X’ (or B) completed (at around approx 78% level) more pain looks less probable.
And now Z should come.
Z can be (61%, 100%, 127% of W or Y) Various books have various method for target calculations.
I generally take latest wave into Consideration for targets which is Y or X’.
Targets are based on Fibonacci relationships.
Disclaimer: I do not claim any profit or loss. I am not sebi registered and I have no guarantee of profits or gains or right predictions. These are just my opinion or thought ideas for learning the trade patterns, and feedback from experts to learn more. Please make any financial decisions after consulting your financial advisors.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.