Bosch has been forming a symmetrical triangle since 03/2015 . According to me it is running the last E wave of that triangle . (Caveat the Two dark blue lines are the points if invalidation and tad above/below them should be used for stop loss depending upon the position taken as then the triangle will become invalid)
1. Wave C = 0.618 A in this triangle (not shown here) 2. So we can expect wave E = 0.618 C and should end at 19700 . 3. Post triangle thrust . Extend AC line and draw a perpendicular from the start of wave A . shown here . The price difference is abt 14200 . Add this figure to the end of wave E . In this case 19700 + 14200 = 33,900 which shall give the end if primary wave 5 . Post triangle thrusts are very swift in nature and may also extend. So those who are holding Bosch can expect this target in a few months . We will see the structure of wave 5 to see exact targets. 4. All waves within the triangle are 123 structures . In this case complex correction in wxy form . 5. Triangles in form on their own in wave 4 potions only .
Comments
sgor1980
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I don't know whether you have noticed or not but, I have found an inverse "Head & Shoulder" pattern on this stock.
AJAYSHARMA
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@sgor1980, There will be IHAS. But those will be between the larger pattern. But anyway I have also given pattern failure with the blue lines .