650 levels insight, low risk entry could be after completion of wave 2 inside of wave 5 to ride the 3rd
#For educational purposes only.
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We can clearly spot Wave 2 inside of wave 5. Take retracement levels, from point E (558 level) to top of wave 1 (approx 588 level) to measure potential targets for wave 2.
Just incase any of you are confused, we are looking to BUY at those Wave 2 targets to ride wave 3 for a minimum target of 1.618% of wave 1+2, which i will update once wave 2 has completed.
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As expected Order 1 filled at 570 and order 2 placed at 564. Generally(In most cases) it retraces to these two levels, although it can also retrace 100% level which is why we have our stop loss below wave 1.
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RELOADED 3rd round @ 560 for full throttle take off, 100% retracement done, Stop loss active at 557.
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Target 610, Easy.
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Wave 3 started. Enjoy and ride this wave completely!
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Power of the 3rd WAVE.
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TRADE proceeding as planned. Target 1 - 610. T2 - 625 T3 - 650
P.s. Keep booking profits as per your appetite.
Trade closed manually
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The price action now has given us new data, which shows Bharti is still in Complex wave 4 and has formed xx wave followed by a Z wave (Presently in it).
Wave 5 should start post that.
I am closing this trade for now and will update a new chart, soon! Thank you.
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For your knowledge, Wave XX ended at the 570 top and Wave Z is going to be a 5-wave downmove, post which we will take entry.
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And according to EW rules Wave 4 will never enter the wave 1 area. So the green wave 4 will never breach 495 levels (green wave 1) before a 5th (green wave) UP.