QUICK HEAL - BULLISH - LARGER 3 WAVE ONGOING
Hi Folks,
Quick heal is undergoing larger 3 wave on weekly time frame. Within internals of ongoing 3 wave, we can see correction in 4 wave with a classical falling wedge pattern.
Falling wedge has been broken with good volumes on daily time frame. RSI augments the price action and has broken with HH-HL structure.
2-4 trendline will act as support as well as invalidation level. Price action below this can lead to weaker price action or sideways movement will continue in ongoing 4.
In case if RSI makes higher high then previous high of 3 wave, then this can be an extended 3 which will go further up.
Targets are marked with fib projections, can be a smooth ride to these targets.
Happy Trading! Cheers!
Not a buy reco, please do your own due diligence.
Quick heal is undergoing larger 3 wave on weekly time frame. Within internals of ongoing 3 wave, we can see correction in 4 wave with a classical falling wedge pattern.
Falling wedge has been broken with good volumes on daily time frame. RSI augments the price action and has broken with HH-HL structure.
2-4 trendline will act as support as well as invalidation level. Price action below this can lead to weaker price action or sideways movement will continue in ongoing 4.
In case if RSI makes higher high then previous high of 3 wave, then this can be an extended 3 which will go further up.
Targets are marked with fib projections, can be a smooth ride to these targets.
Happy Trading! Cheers!
Not a buy reco, please do your own due diligence.
Trade active:
Great follow up move after breakout. Looks like a long term impulse