Due to the ongoing pandemic, there is a massive movement in the economy leading to high chances of Recession. Similar to the 2008 market carsh. In 2008 market had a decline of 63% from ATH resulting in a huge housing market crash. It is evident that it takes almost 2 years for the recession period to recover. As per the chart info, Good time to enter the market is around 5000 - 6000 level. Also i suggest to enter short or exit market around 9000-10000 level, only if you want trade bear market and don"t forget risk reward ratio.
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ignore the sell zone mentioned at 7100 level that sell zone is 10000 level
to say wedge or diagonal its not overlaping 4-2 as per rule
Prasad1618
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@PatilsMoneytree, mostly 5 th wave is ending diagonal, which shows week signs
PatilsMoneytree
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@Prasad1618, too say ending diagonal rules are not matching ..
The subwave action usually follows two converging trendlines.
Subwave 4 often overlaps subwave 1.
The subwave count is 3-3-3-3-3.
A throw-over occurs when price pierces the trendline connecting the ends of subwaves 1 and 3.
The ending diagonal triangle usually occurs as part of a fifth wave extension.