Primary 3 ending soon
Primary degree:Green
Intermediate:yellow
Minor:Red
Currently we are in minor 5 of intermediate 5 of primary 3.Price wise we have seen 361.8% extension of primary wave 1 in primary wave 3.
Going ahead if minor 2-4 trend line is broken then we can see start of Primary wave 4 which can take prices between 90-70.One should avoid going long at current levels and wait for lower levels to enter.
For someone who is already long can keep a stop-loss of 155.Count invalid above 192(Fresh long only above 192).I havent included momentum indicator over here but it is also showing negative divergence,a potential sign of topping.
Disclaimer:This are just my views on the stock,no positions should solely be taken or exited on its basis.Posting this for my future reference.
Intermediate:yellow
Minor:Red
Currently we are in minor 5 of intermediate 5 of primary 3.Price wise we have seen 361.8% extension of primary wave 1 in primary wave 3.
Going ahead if minor 2-4 trend line is broken then we can see start of Primary wave 4 which can take prices between 90-70.One should avoid going long at current levels and wait for lower levels to enter.
For someone who is already long can keep a stop-loss of 155.Count invalid above 192(Fresh long only above 192).I havent included momentum indicator over here but it is also showing negative divergence,a potential sign of topping.
Disclaimer:This are just my views on the stock,no positions should solely be taken or exited on its basis.Posting this for my future reference.
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