Olectra Elliott wave Analysis - target 2020
Olectra seems to have started wave 3 of bigger Elliott wave after competing wave 1 and 2 starting from 1460 (recent swing low on June 4th) and wave 2 ended at 1733.
With this wave 3 must have target of 275+ points means 1733+275 = around 2020.
Seems wave Ii) and (11) already completed and it is in wave (iii) of wave (3).
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.
** The waves must be seen on 5 minute chart which I can use to publish - minimum 15 min chart is allowed.
With this wave 3 must have target of 275+ points means 1733+275 = around 2020.
Seems wave Ii) and (11) already completed and it is in wave (iii) of wave (3).
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.
** The waves must be seen on 5 minute chart which I can use to publish - minimum 15 min chart is allowed.
Note
Seems wave 1 and 2 formed today, wave 1 is having length of 155 points so if wave 3 gets formed from here it must be more than 155 points that means 1800+155 = 1955 + move (my wave 3 is placed at 1975),Let's see how it goes from here.
Trade active
crossed 1900 after long consolidation, if this level is sustained then 2000 can be the next target for nowTrade closed manually
closing this call as timeframe chosen was too small, posted another analysis on Olectra with latest view. That also covers the target of 2020 mentioned in this call.
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