HI
Is it a 1st Wave Extension??
Generally they form during the trend change or during the start phase like the IPO or during Triangle Corrections.
In 1st Wave extension, the 1st Wave is the Biggest wave and violent too. (714 Points)
2nd Wave does not exceed .38% of 1st Wave (Generally its .23%), but upto .38% is the general rule.(Should not have gone above 17323)
3rd Wave is only .61% of 1st Wave (420 Points from Lows of 3rd Wave).
4th Wave follows rule of alteration, if 2nd wave is around .38% then 4th will be apporximately around .61% to .78%. (which shows the bullish intent)
5th Wave will end near the 3rd Wave.
Now hoping this will end near 16900 now.
After that we will have good upside...probably till 18600.
So there is a high probablity its 1st Wave Extension.
Constructive Criticism is welcome
Disc : Educational Purpose Only
Neo
Is it a 1st Wave Extension??
Generally they form during the trend change or during the start phase like the IPO or during Triangle Corrections.
In 1st Wave extension, the 1st Wave is the Biggest wave and violent too. (714 Points)
2nd Wave does not exceed .38% of 1st Wave (Generally its .23%), but upto .38% is the general rule.(Should not have gone above 17323)
3rd Wave is only .61% of 1st Wave (420 Points from Lows of 3rd Wave).
4th Wave follows rule of alteration, if 2nd wave is around .38% then 4th will be apporximately around .61% to .78%. (which shows the bullish intent)
5th Wave will end near the 3rd Wave.
Now hoping this will end near 16900 now.
After that we will have good upside...probably till 18600.
So there is a high probablity its 1st Wave Extension.
Constructive Criticism is welcome
Disc : Educational Purpose Only
Neo