In my last post I have shared my wave counting on Nifty 50 on weekly time frame.
Will request you, If u have not seen last post, to check that post first so as to understand this part of counting I am sharing.
This is what I am referring to the last part of nifty which is wave 5th, started since june 2022 and completed last week.
So to keep it short, lets understand why its ending diagonal.
First thing to notice is all the wave are in set of 3 moves (either abc or wxy) which is the first requirement of ending diagonal. In and kind of ending diagonal there are total 5 legs and each leg should either be a zigzag (can never be flat) or wxy.
So as per above rules it definitely qualifies to be classified as ending diagonal, but then what are the rules that makes it "Expanding" Ending Diagonal...
As per rules, for Expanding Ending diagonal
1. Either wave 1 or 2 will be the shortest one among all
2. Wave 5th will be longest in time and price among all the other set of waves.
these are basic rules (cant cover all of them), that I have tried to cover and share with all of you.
For more to know please refer some good books.
Thats all for the day...
Have a nice weekend to everyone.
Will request you, If u have not seen last post, to check that post first so as to understand this part of counting I am sharing.
This is what I am referring to the last part of nifty which is wave 5th, started since june 2022 and completed last week.
So to keep it short, lets understand why its ending diagonal.
First thing to notice is all the wave are in set of 3 moves (either abc or wxy) which is the first requirement of ending diagonal. In and kind of ending diagonal there are total 5 legs and each leg should either be a zigzag (can never be flat) or wxy.
So as per above rules it definitely qualifies to be classified as ending diagonal, but then what are the rules that makes it "Expanding" Ending Diagonal...
As per rules, for Expanding Ending diagonal
1. Either wave 1 or 2 will be the shortest one among all
2. Wave 5th will be longest in time and price among all the other set of waves.
these are basic rules (cant cover all of them), that I have tried to cover and share with all of you.
For more to know please refer some good books.
Thats all for the day...
Have a nice weekend to everyone.