Hello Friends,
Today, we have something special in store as we take a top-down approach to analyze a specific stock - Tata Communications in the world of trading. By employing this multi-time frame method, we'll be diving into various charts, starting from the big picture down to smaller timeframes.
Before we begin, please remember that trading carries risks,...
Elliott Wave background
In the 1930s, R.N Elliott identified the price of the stock trends and reversed a specific pattern. This pattern is repetitive in form and, the patterns have predictive value. He decided to use this pattern (Elliott wave theory) to predict the market. The Elliott wave is not primarily a trading system. It is a detailed description of...
In this video detailed explanation of applying elliott wave principle has been discussed taking an example of current price structure of a currency pair EURO-SWISS. i.e. EURCHF .
One should go long in the region of 1.07000 - 1.70400 keeping a SL of 1.06618 for the target zone of above the wave 1 highs that is above 1.08710
Thanks from Bottom of my heart to "Sir John Murphy" for giving us such a wonderful book on Intermarket Analysis - "Profiting from Global Market Relationships"
Special thanks to my friend & follower who wrote - Think beyond Red & Green Colours. I would love to have your comment once again here in this idea as well.
Wish You all a Happy & Colorful Holi
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![ITC: Part [A] Basic of Wave Principle](https://s3.tradingview.com/t/tQEg0Nuu_mid.png "Part [A] Basic of Wave Principle")
