@sikander28, (W) should be a corrective structure . But it is most probably an impulse . Its a bit difficult to count though. So it becomes A . That (X) is most probably a triangle ending a little bit on the right so it becomes a B . Now C seems to have started . So it is an A(impulse) B (triangle) C (impulse) . Now this entire ABC seems to be a larger wave B of a bigger( most probably) triangle . So 11171 - 9950 (abc) is wave A of the bigger triangle , this structure from 9950 to now (abc) is wave B of the bigger triangle . After its completion we expect wave C . And we might still be in a wave 4 triangle and within it waive B triangle is unfolding . Wave 2 that 2016-17 correction was a ziz zag . So by alternation wave 4 should be a flat , triangle or a combination . Its looks like a triangle . Rest wave C and the market will tell. In you scenario you have chosen a flat for wave 4 . That is also possible. Overall your chart is correct.
sikander28
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@AJAYSHARMA, @ShanTrader, I think we are in an expanding flat correction now. In expanded flats, wave B of the 3-3-5 pattern terminates beyond the starting level of wave A, and
wave C ends more substantially beyond the ending level of wave A, for bull markets. what is your opinion Sir
If I may be permitted, looking at your chart, in my opinion we are completing a frest wave (i) which started at 10554 and should be terminating any time now below 11400 perhaps.
A correction (ii) could follow maybe to 11000-10950 range and then we should return to move higher in wave (iii) again for new highs.
Disclaimer : I am not a financial consultant and these are my own views only.
sikander28
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@ShanTrader, thank you brother, I will look into that scenario now. I appreciate the disclaimer, I always do my own research. May i request you to post your wave count on the chart as an idea. i will be really helpful for me to follow.
ShanTrader
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@sikander28, thank you. In my opinion your (X) wave is the end of corrective triangle wave 4.
Wave (i) of 5 starts at 10554.
Wave (i) is about to end soon below 11400 and we have have a corrective wave (ii) thereafter.....
Disclaimer : I am not a financial consultant and these are my own views only.
ShanTrader
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@ShanTrader, It did reverse below 11400 did;nt it !!
ShanTrader
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@sikander28, It did reverse below 11400 did'nt it !!
sikander28
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@ShanTrader, YES SIR. GET READY FOR THE BEARS UNTIL THE NEXT ELECTION