Completion of wxy.will it be wxyxz or new impulse????
Scenario-1
wxy done,currently we can expect either another wave x in the form of ABC or this could be start of an new impulse.
As of now stock has retraced 61.8% level of 1493, after giving up move till 1557.Now where this retracement will end cannot
be predicted,but generally if 61.8% retracement level is considered to be a good support,hence i am projecting wave c from
today's low which comes @1600 along with entire 78.6% retracement of entire 7 swing's.
Scenario-2
If instead this downfall continues and 1450 is broken on the down side
than we can say that wave x has already been made and third correction in the form of wave z will commence
DISCLAIMER:I AM AMATEUR ELLIOT WAVE THEORY PRACTITIONER AND MAY TAKE POSITION ON SOME IDEAS THAT I POST.ANYONE READING MUST UNDERSTAND THE RISK AND NOT JUST ACT UPON MY VIEWS.
wxy done,currently we can expect either another wave x in the form of ABC or this could be start of an new impulse.
As of now stock has retraced 61.8% level of 1493, after giving up move till 1557.Now where this retracement will end cannot
be predicted,but generally if 61.8% retracement level is considered to be a good support,hence i am projecting wave c from
today's low which comes @1600 along with entire 78.6% retracement of entire 7 swing's.
Scenario-2
If instead this downfall continues and 1450 is broken on the down side
than we can say that wave x has already been made and third correction in the form of wave z will commence
DISCLAIMER:I AM AMATEUR ELLIOT WAVE THEORY PRACTITIONER AND MAY TAKE POSITION ON SOME IDEAS THAT I POST.ANYONE READING MUST UNDERSTAND THE RISK AND NOT JUST ACT UPON MY VIEWS.
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