MICEL LONG
Updated
Channel rejection is a frequently seen phenomenon in the field of technical analysis. A price trend that is represented by a channel fails to continue in the expected direction. This can occur repeatedly.
The asset's price has shown a significant increase above the channel, followed by another testing of the breakout level. This signifies a possible positive momentum and implies that the asset might be ready for an upward trajectory.
The Elliott Wave Structure refers to the pattern and organization of price movements in financial markets, as described by the Elliott Wave Theory.
According to the Elliott Wave analysis, the stock has finished wave (1) and wave (2) on the daily chart. At present, it seems like wave (3) is likely to start, with the possibility of extending up to 161.8% of the length of wave (1) from the lowest point of wave (2).
The third wave in Elliott Wave theory is frequently characterized as the most powerful wave. It is the main factor that causes prices in a trending market to move strongly and consistently in the same direction as the trend. Traders and investors frequently seek opportunities to profit from the substantial price increases linked to the third wave.
The concept of the Third Wave in Elliott Waves refers to a specific phase within the Elliott Wave Theory.
Level of Invalidation
The invalidation level at 33.10 has been determined as the starting point of wave (1). Should the price drop below this threshold, it could suggest a deviation from the anticipated Elliott Wave pattern.
I am not a registered Sebi analyst. My studies are purely for educational purposes.
Before trading or investing, please consult with your financial advisor. I am not accountable for your profits or losses in any way.
Thanks
VJ
The asset's price has shown a significant increase above the channel, followed by another testing of the breakout level. This signifies a possible positive momentum and implies that the asset might be ready for an upward trajectory.
The Elliott Wave Structure refers to the pattern and organization of price movements in financial markets, as described by the Elliott Wave Theory.
According to the Elliott Wave analysis, the stock has finished wave (1) and wave (2) on the daily chart. At present, it seems like wave (3) is likely to start, with the possibility of extending up to 161.8% of the length of wave (1) from the lowest point of wave (2).
The third wave in Elliott Wave theory is frequently characterized as the most powerful wave. It is the main factor that causes prices in a trending market to move strongly and consistently in the same direction as the trend. Traders and investors frequently seek opportunities to profit from the substantial price increases linked to the third wave.
The concept of the Third Wave in Elliott Waves refers to a specific phase within the Elliott Wave Theory.
Level of Invalidation
The invalidation level at 33.10 has been determined as the starting point of wave (1). Should the price drop below this threshold, it could suggest a deviation from the anticipated Elliott Wave pattern.
I am not a registered Sebi analyst. My studies are purely for educational purposes.
Before trading or investing, please consult with your financial advisor. I am not accountable for your profits or losses in any way.
Thanks
VJ
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