20th oct 2021- 18598 has been the all time high for past 1 year now. since then price is in range bound till 15191. so from this low market seems to be bullish following impulse rules, until now 3 waves has been in line. for now I'm considering 4th wave is in making since the B wave cut pass wave 3 high and fell to 16646. which is a sign of bullish momentum and its also 0.618 of 3rd wave. but if we look close, though the trend seems bullish from 16646 still we can find only 3 wave structures. even if we consider it as a 3-3-3-3-3 structure. it doesn't look like a leading diagonal in any TF. so I would look for shorting from 18000 range. yet the price should not surpass 16646 to hold bullish momentum.
Trade closed manually
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since it was moving in a 3 wave structure we where anticipating for a correction but on a broader note market makers where building diagonal structure. hence this idea didnt work out well. now that the view has been captured do find my new updated analysis on my page.
Welcome to the trading view community. Good work on your first analysis.
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regards
Vanathi