Is the correction over?
Updated
Unless it is complex,it should be over.
it seems to be a flat correction
a wave 3 wave down and b wave 3 wave up followed
followed by c wave 5 waave down.
But it is premature to say the correction is over.
as correction can be complex,
Normally traders avoid trading this correction phase.
In case of bank nifty it has been continuing and
in nifty it has just started.
let us watch sitting on the side line.
with sevearl central banks resuming hiking rates and
hawkish stand of rbi is not favouring the market.
if this study helping you like my post.
follow me to get updates.
it seems to be a flat correction
a wave 3 wave down and b wave 3 wave up followed
followed by c wave 5 waave down.
But it is premature to say the correction is over.
as correction can be complex,
Normally traders avoid trading this correction phase.
In case of bank nifty it has been continuing and
in nifty it has just started.
let us watch sitting on the side line.
with sevearl central banks resuming hiking rates and
hawkish stand of rbi is not favouring the market.
if this study helping you like my post.
follow me to get updates.
Note
Note
trade set up for flat correction.Note
Note
Note
on closing bais stop loss not yet taken out
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