Elliott wave analysis # Can predict market or not !!!
Updated
It does not matter that what technical tool we are using. If we use in right way without adjusting/ignoring any signal inputs, we can 'beat the market'.
If we use Elliott Wave correctly, Market can be predicted in well advance.
1. Follow Elliott wave rules, never disobey
2. Not do any adjustment in wave counting
3. Use right TimeFrame. Wave formation will be merged in higher timeframe and so do wave count
If we use Elliott Wave correctly, Market can be predicted in well advance.
1. Follow Elliott wave rules, never disobey
2. Not do any adjustment in wave counting
3. Use right TimeFrame. Wave formation will be merged in higher timeframe and so do wave count
Note
Nifty updated wave count. Fall is still pending and going to be in range.Note
Same view for Banknifty also and should not cross above 32000 level before correction completesNote
----- My view is not for trading -----Note
Alternative count: Suppose if wave (x),red color completed at 10:30 (Jan 25), fall from 10:30 is final part and almost completed, just z pending. Max level it can fall further (should not go below this level)
Nifty : 14144 , Banknifty : 30718
To confirm that trend is reversed, it should cross this points from tomorrow low
Nifty: 301 , Banknifty: 10015
Either case - whether this alternative or previous one, fall may not continue stronger and there may be pull back as described
Note
*Banknifty: 1015Note
High probability that alternative 2 would be correct one.Note
Did few mistakes, so one expectation skipped. This is the fall 8-10% as described in the analysisNote
This fall will be TWO (Y) + optional (Z) double three combination and optional TWO [Z] double three combination. So far (Y) almost completed
Related publications
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.