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From the lows of 1347- looks like an impulsive sequence done from 1450 highs & finishes Wave-A. Got a pattern from lows@1347
Shall be looking for which comes in the zone 1400 & minimum distance it should retrace is 1385 where it completes 38.2% of the fall from 1450 to 1347.
Once retracement done- we use the bounce to sell again & looking lower targets downside.
What is Pattern
A is a pattern that consists of three candles. The first bar is a large red located within a defined downtrend, the second bar is a small-bodied candle (either red or white) that closes below the first red bar, and the last bar is a large white candle that opens above the middle candle and closes near the center of the first bar's body.
Reliance moves up from the morning star bullish pattern support - giving big green candle for the day.
Retraced 61.8% of the fall from 1450 to 1347 at 1410-1415 current high zone today. We shall be careful here to exit long positions or book partial profits.
Started Falling from 1410 as expected above. Closing the post.
Hi Abhishek - it happened today, the fall below 1347. How will the waves be counted now?