AJAYSHARMA

Elliott Waves - 3 wave move

BSE:UPL   UPL LIMITED
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A 3 wave move contained between parallel lines is not always corrective . It depends on what is the angle between initially labelled as 0-A and B-C . Explained in the chart . Always be on lookout for this. Regards

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What exactly does angle suggest? And how it helps in improving trade setups?
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AJAYSHARMA MaverickSaagar
@MaverickSaagar, It means if the angle of so called wave B-C is sharper than so called wave O-A . It would mean that equality between the waves will be reached earlier then expected which will cause the wave C to end at the upper channel sooner than expected . When that happens you can mark the progression as 1-2 - 123 .... and expect a shallow correction before a really big wave 3 starts . This would be an early signal as 20/50/100/200 EMA's would be haphazard or clumped up. Basic rule for a corrective wave is time(0-b) is almost equal to or greater that time (0-a) I hope that suffices . Always remember time is most important. Regards
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