A chart was published on Trading View for Nifty on 14.07.2022, your likes compelled me to take your input as a positive feedback. And I have tried to explore the errors and have rectified some points for you. (Please comment if any are still there) A leading diagonal can have 3:3:3:3:3 subdivision (common) and can also have 5:3:5:3:5 subdivisions. Here we can see we have first type of subdivisions. We have broken out of a parallel channel downside and we are in B wave upside.
Still the view is same. Long may be initiated near the green colour line.
Thank you for your likes and comments.
Please do your own analysis before opting for a trade or investment. Regards.
I think you are wrong 5th wave will unfold now of leading diagonal in this week at 15600 level by Thursday
Gjain75
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As far as I understand only ending diagonal has 3 x5 wave structure. Leading diagonal has 53535 structure. The intent of former is termination of trend while that of leading is continuation. Having a 33333 structure defeats the objective of a leading diagonal. I guess that it’s wave c of wave B, of the double zigzag in progress. Target is to achieve 16600 before falling with devastating effect. Currently c of B has achieved 61.8 ideally it should try to reclaim atleast 85.4% before falling as C making a sharp impulse. NB I have recently started studying the theory and not an expert. Still learning ropes. Happy to be corrected.
LBilgir
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all the waves now is corrective. i mean in the form or ABC. How this can be leading diagonal?