SCBNifty
Long

Trade what you see

NSE:SBIN   STATE BK OF INDIA
confirmation of "e" on the chart awaited
waiting for price confirmation.

How to classify this pattern?

"Continuation Or Correction "

Argument:
1. Perfectly placed shrinking price action.
OR
1.Angle of pattern is gradually rising?
Comment: 193.00 for ID would be my SL if i was trading this stock
Comment: SL triggered for ID
Comment: still waiting for Wave e to be confirmed
Comment: next trade day might provide a much needed clarification.
Comment: we should be able to place our Wave e on the chart by days end.

Comments

Preceding uptrend contracting triangle should break upside. If holds low of C then probably will go up.
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SCBNifty Niftydirection
@Niftydirection, your view is " 1.Argument ".
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Dear Sir where i can learn Elliot Wave pricinples let me know.
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SCBNifty TradeXetrem
@TradeXetrem, You have a plethora of reference books available, and there are equal number of websites offering enough material. You can learn from Elliott Wave practitioners.
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