TATASTEEL HAS COMPLETED 5 WAVE'S OF IMPULSE.IT SEEMS LIKE CURRENT CORRECTION HAS TAKEN FORM OF ABC ZIGZAG AS WAVE A DROP IS RETRACED TILL 61.8% COMING@ 911.50.YES PRICE DID CROSSED THIS LEVEL ON THE UPSIDE BUT FAILED TO SUSTAIN IT ON CLOSING BASIS,INDICATING END OF WAVE B.IF WE GET BOUNCE TILL 900 THAN STOCK SHOULD BE SHORTED AS CANDLESTICK IS ALSO SORT OF DCC.STOP SHUD BE 918 AND TGT SHUD BE 854 -800.
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on Tata steel, up to wave 4 ,it is clear wave count . But sir what was the need of WXY to count for the wave count . what is the logic . why not label 5 waves 1,2,3,4,5 & then ABC. this is what makes Elliott wave confusing. WXY comes into complex correction but sir you are doing so in impulsive wave 5.
Pl educate .
UNDERDOG-29
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@JagdishKumarPahuja, look at internal structure you will have your answer.Yes this part of labelling wave's is confusing but try to apply rules after finding internal structure.I might be wrong but i found sense in labelling internal strucuture of wave 5 as WXY rather than 12345.I have learned online that an impulsive wave can evolve in an corrective structure.I hope this makes sense.
Pl educate .