Buy Dixon, Flat structure correction completed

Jun 23

Earlier I had published an idea on Dixon. The correction was in the form of a Flat (3-3-5) structure.

In the corrective 5-wave structure, sub-wave 3 developed as an impulse which extended the correction. This is not normal, however at times like this, it does happen.

Dixon had likely completed the 5th sub-wave at 0.786 fibo extension of sub wave 2-3-4.

All the wave markings are given in the chart.

Will update targets as the waves unfold.

Happy trading.

Aug 1

Trade active

Potentially Wave (iii) completed, book profit. Will re-initiate trade on completion of wave iv. Check comments.

Aug 6

Trade closed: target reached

Stock completed the present impulse wave as per chart given in comment below delivering a profit of over 22%. That was one full impulse wave from wave (ii) to wave (v).