TradingView
tradingwick
Apr 3, 2022 5:57 PM
End of correction / Pending Correction
Long
NSE:NIFTYMIDCAP50
1D
Nifty MidCap 50 Index
NSE
Description
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Apr 3, 2022 5:57 PM
This week price movement will indicate End of Correction phase or it will stay for some more time.
Break of channel line will decide. HH & HL in play & previous Supply taken out by RBR.
Comment
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Aug 27, 2022 9:01 AM
Soon, expecting End of correction.
Trend Analysis
Elliott Wave
Supply and Demand
Comments
Sai_Kumar
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Apr 3, 2022 6:24 PM
Your wave counts are odd.
A-B-C is used for marking correction of an impulse wave.
Nifty midcap is in a Larger Uptrend.
You have placed your A, B (Yellow colour) as if this whole structure is a correction of a downtrend.
What you have marked as A in yellow colour is an Impulse wave.
and your marking B in yellow, is corrective wave (most likely end of the correction).
Internal markings in red look fine though, if you'd mark the impulse waves correctly.
you've got to clear your elliott basics.
tradingwick
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Apr 4, 2022 3:26 AM
@Sai_Kumar
, Thanks for your comment, gone through basics of elliott & corrective impulse also until not breaking the channel.
More
A-B-C is used for marking correction of an impulse wave.
Nifty midcap is in a Larger Uptrend.
You have placed your A, B (Yellow colour) as if this whole structure is a correction of a downtrend.
What you have marked as A in yellow colour is an Impulse wave.
and your marking B in yellow, is corrective wave (most likely end of the correction).
Internal markings in red look fine though, if you'd mark the impulse waves correctly.
you've got to clear your elliott basics.