Federal Bank EW Analysis.

This chart is for Education purposes only.

The chart is self explanatory. Ill add further comments as the trade progresses.
Comment: This is a very powerful setup guys, believe in the power of EW waves. Count will only be negated if price moves below 49 (marked black line) , which i highly doubt.
Trade active: Playing out perfectly as planned.
Trade closed: target reached: Target 1 done.
Comment: Good to book partial gains, expecting more upside until marked levels.


Wave 3 is usually the longest , and within wave 3 - the iii & iv is almost touching each other

These guidelines of elliott wave looks on it as a suspect ....

Being a suspect , i will view these counts as an alternative
@joel-vg, Yes agreed wave 3 is usually the longest, but thats not a necessary guideline for wave counts. And as far as wave 3&4 are considered within wave 3, if you view this chart on a lower TF the counts will be visible more clearly. Once you count and mark waves on a smaller TF and jump to a bigger TF the counts seem to overlap. Hope this helps!!!
+1 Reply
@joel-vg, Just notice how wave 4 ends above wave 1. And for that matter we are still in wave 3 which will be the longest!
+1 Reply
joel-vg Shankey2191

thanks for the explanation.

I was a positional investor in Federal bank , but off late , i have got out of it..

Thanks once again & all the best
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