ESCORTS - Possibly Wolfe Wave Pattern formation
Updated
CMP: 3400
TF: 75 Minutes
Script is making an ending pattern to complete the 4th wave. I hope it will bottom out around 3250-300 levels. Possible pathway is explained here in this chart.
Trendline support is also around the levels mentioned above
Larger TF wave counts is attached below..
Approach: Better to wait for the price to go below the lower trendline and come back in to the structure again to take the trade.
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
TF: 75 Minutes
Script is making an ending pattern to complete the 4th wave. I hope it will bottom out around 3250-300 levels. Possible pathway is explained here in this chart.
Trendline support is also around the levels mentioned above
Larger TF wave counts is attached below..
Approach: Better to wait for the price to go below the lower trendline and come back in to the structure again to take the trade.
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
Trade active
And the pattern is playing out perfectly now.. Lets see how far this goes
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.