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This chart is for Education purposes only.
The chart is self explanatory. Ill add further comments as the trade progresses.
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.
Comments
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
These guidelines of elliott wave looks on it as a suspect ....
Being a suspect , i will view these counts as an alternative
Reply
@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!!!
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!
Reply
@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
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
Reply