Indian energy exchange is now about to complete it's correction ,it is doing a double correction in major wave IV, fifth to the upside is still due. We can expect correction to complete near 124.85-125.85 and then final V wave target will be 407.
And I'm expecting fifth to be extended because normal projection limit of wave V are 0.382 & 0.618 but as you can see...
Elliott Wave Cycle is formed up of a total of 8 waves (5+3 waves).
Waves 1 to 5 are counted in the Impulsive phase.
Waves A to C are counted in the Corrective Phase.
3 Golden Rules of Elliott Wave:
1. Wave 2 cannot overlap wave 1.
2. Wave 4 cannot touch the territory of wave 1.
3. Wave 3 can never be the shortest.
Truncation learning - shortening something
That why Elliot used the word failure shorter 5-wave compare to 3rd Wave, forever it does not move beyond or higher the end of the third. We prefer the less connotative term truncation or truncation fifth wave as illustrated in the chart.
Reason of Truncating in 5th Wave:
In the bull market, weakness in price &...
Hi,
Squeeze and Expansion is one of the famous ways to trade BB. In the following steps I will try to explain how I trade it.
# Look for a stock in long term uptrend but currently in correction. The 'Long Term' depends on time horizon of trading. For positional trader it could be daily while for intraday traders it could be hourly. So selection of stock would...
