2 possibilities from here.
a) we could be forming a diagonal triangle, with abcd waves completed and wave e pending with a target of 9430-35. This count remains valid till we dont go above 9575.
b) if we go past 9575 , then it would mean that 9448 (today's low ) was atleast a short term bottom. we could either be making a sideways time consuming b wave or a new wave up is materializing.
How to trade?
If already short , then 9575 should be stop loss, target 9430-35
If already long, then 9400 should be stop loss.
If planning to trade, then a dip to 9430-35 offer a buying opportunity for a target of 9575, else if we go above b-d line, then next corrective dip should be bought ( entry and stop loss can arrive once wave pattern evolves)
Market is complex, the above analysis we write based on recent data. The view keeps changing as we progress.
If you need timely advice , follow my post.
a) we could be forming a diagonal triangle, with abcd waves completed and wave e pending with a target of 9430-35. This count remains valid till we dont go above 9575.
b) if we go past 9575 , then it would mean that 9448 (today's low ) was atleast a short term bottom. we could either be making a sideways time consuming b wave or a new wave up is materializing.
How to trade?
If already short , then 9575 should be stop loss, target 9430-35
If already long, then 9400 should be stop loss.
If planning to trade, then a dip to 9430-35 offer a buying opportunity for a target of 9575, else if we go above b-d line, then next corrective dip should be bought ( entry and stop loss can arrive once wave pattern evolves)
Market is complex, the above analysis we write based on recent data. The view keeps changing as we progress.
If you need timely advice , follow my post.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.