From Previous Update I assumed that minor wave 3 is still working but looking at the fall- It seems that minor wave 3 is done at 111 highs & The fall is sharp from 111 to 91.40.
In last update, we wanted a push above 101.25 for the upside move which did not realise.
In current Position- Minor Wave 1 high@88.45 should not be eclipsed.(Wave -4 can never enter wave -1 territory- Rule 1 : Elliott Wave) So, keeping that intact, we need an upside push as initial confirmation-once we get that then we will be in better position to check for minor wave 5 which is pending in current scenario
Minor -1-2-3-4-5
Alternate Scenario- 1-2-3 shall be named as A-B-C if Dish TV goes below 88.45 then likely 80-81 is strong support zone breaking of that level shall take dish tv to retest Feb2016 lows of 65
Trading Strategy Initial push from lows@91.40 on 24th April2017-should take place keeping 88.45 intact downside else - we change to alternate count, which inidicates that Y- wave is done at highs of 111. In Alternate scenario- Dish will likely test 65 lows going below 80-81 Strong support zone.
Previous Update
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12:37 Hrs 25th April2017
Hope is alive -88.45 not eclipsed & impulsive looking structure from 91.40's is what we were looking for initially.
But too early to say anything. We will keep a watch on Dish TV
Post Impulsive move from 91.40 lows as of 24th April2017- we shall look for pullback & Try to enter close to the lows of 91.40 Obviously 91.40 should not be taken out downside.
Safe Traders -They can look for an upside move above 96 to continue higher.
Key level should not be broken downside & once dish moves above 97-recent we will get more confidence for higher targets which we will keep trailing for 115-120 Zone. Let us wait & see 97 to broken next on upside keeping 88.45 intact downside