Elliot wave rejection move to opposite trend
When there was elliot wave impulse 12345 acception there was huge rejection of the elliot wave correction ABC which leads to downfall
Nifty Monthly Elliot Wave analysis.
Looks like Nifty Primary Elliot Wave is in Wave 4 for Impulse Wave.
Can expect nifty Reversal at 9850 range.
Wave 4 should reverse at 38.2 Fibo retracement.
Wave 5 will be another Big Wave on uptrend.
Nifty is in Elliot's wave since 2016, This is the last wave of correction. (Weekly Charts)
The best part is, a Head n Shoulder at the End, Which mostly occurs in Elliot Wave (if no harmonic chart patterns are found).
On a larger scale also, NIfty is in Elliot's wave on Monthly charts. (Haven't covered here)
Nifty after touching 11,200-300 can shoot around...
A possible projection of Elliot Wave for Eicher Motor stock.
Stock is making impulse wave expecting it to break all time high.
Just for educational purpose.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The investment advice provided is solely the personal views of my research. You are advised to rely on your judgement while...
Hello Traders!
1. Today, we will discuss the basic market movement structure, elliotically . A recent comment on one of my ideas published pointed (indirectly) towards the need for a basic understanding of Elliot Waves for the general trading public.
2. The market moves in consistent impulsive and corrective structures . Waves 1, 2, 3, 4, and 5 together form...
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of...
Nifty corrected in a downward Elliot 5-wave pattern. The impulse waves 1, 3, and 5 are equal in length.
The Elliot waves are complete only at the end of the 5th wave of the 5th major wave.
This is also confirmed by the divergence in RSI.
The market is likely to continue its original uptrend after the completion of the downward correction.
First thing to do is to identify the time frame that one is comfortable for trading or investing there money for,accordingly one should select time-frame for labeling waves.Here i have tried to label from cycle to minor degree.Analysis below is targeting Primary degree wave 5 upward movement that might unfold in near future.
As mentioned in every book or article...
Post covid IDFC FIRST has been moving up in an impulsive manner.Impulsive move advance's price in 5 waves of which 1,3 and 5 are in the direction of primary trend and 2 and 4 are counter trending.
Elliot wave Patterns discussed in this chart and it's rules.
*Elliot wave impulse pattern and rules:
#Impulse pattern
1)Wave 2 doesnt retrace wave 1...
The rules of elliot wave theory are strict, any break of the rule may lead into wrong analysis, always keep rules on your mind while labelling the waves. If you're a beginner, write down the rules in a sheet of paper, read it before labelling the waves.
How to improve yourself? Practice!
The more you practice, better the results.
Regards
Disclaimer: Just for Study purpose, trading/investing not recommended on this analysis it can be wrong.
Reliance gives classic examples where it shows similar targets with help price action and Elliot waves.
Inverse Head and shoulders breakout target seems to reached
As 3rd Elliot wave is extended 5th Wave should be normal (not extended)
During Run up it...
All the rules of elliot wave
1. Wave 2 can never retrace 100% of wave 1
2. wave 3 can never be shortest
3. wave 4 can never get into the price territory of wave 1
if they do not match then you are not placing the waves correctly
The analysis base on Elliott Wave Theory in weekly and daily time frame.
Elliott wave has three parts :
a) Impulse wave (Point 0-1, 2-3, 4-5), which net travels in the same direction (higher high) as the larger trend, always shows five waves in its pattern.
b) Corrective wave (Point 1-2, 3-4), on the other hand, net travels in the opposite direction (higher...
It look like reliance chart daily time frame complete zig zag correction
Wave formation
Wave (A,B,C) Zig Zag patterns
Wave A internal wave count (1,2,3,4,5)
Wave B internal wave count (a,b,c)
Wave C internal wave count (1,2,3,4,5)
Rules and objectives:
The C-Wave is Smaller than 61.8% of the A-Wave
This represents the least frequent situation, when the...
