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Trade-Technique
Nov 5, 2020 7:22 AM

Question for Harmonic Trader & Why price fired? BANKNIFTY 

NSE:BANKNIFTY30
Nifty Bank IndexNSE

Description

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Quick reversals from Bat pattern PRZs are quite common.

  • The mid-point "B" at exactly 50% retracement.
  • Alternate 1.27AB=CD pattern.
  • BC projection @61.8%.
  • The price quickly reversal seen after "D".


Question of Harmonic Trader/Analyst is,
Bat Or Gartley?

Why did birth to this question?
- The Gartley Pattern required point "B "50% and 1.27AB=CD pattern required. In essence, One of the most important numbers in the pattern is the completion of point D at the 0.786 of XA.

- The Bat utilizes a BC projection that is at least 1.618 & the BC projection must not be a 1.27 but in this case, we have 1.27 AB = CD.
GartleyBatHarmonic PatternsBANKNIFTYkinnarikinnari_prajapati
Comments
appsoorya
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No chance of coming down now ?
Trade-Technique
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@appsoorya, shortly I will upload Elliott wave for a reversal point.
appsoorya
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@Kinnari_Prajapati, does the Elliott wave imply an uptrend or downward trend ?
Trade-Technique
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@appsoorya, 5th Wave for NIFTY,....
appsoorya
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@Kinnari_Prajapati, would be great if you could tell in simple English. I don't get a bit
Trade-Technique
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@appsoorya, I will update shortly Banknifty Elliott wave for an upward movement.
appsoorya
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@Kinnari_Prajapati, That's a good one ! Can't get any better..
Kirandeepc
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Scott Carney book I read he said Harmonic patterns usually are not valid if gap is there and 2nd rule Gentleman mentioned that market should be trending .Both these rules he said should be followed.
Kirandeepc
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Mam wave 4 I think was irregular flat or whatever says as it over shoots, Now it was wave 5 which rally. Please correct me if am wrong that I usually wrong always
ashoksamuel02
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very nice analysis
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