In this post i have tried analyzing chart by combining both price/volumes and time factor simultaneously. For deciding trend and predicting price i have used Elliot wave theory and for timing and entry/exit i have used cycle theory. Elliot wave theory Impulse wave rule: 1)Wave 2 can't retrace wave 1 entirely 2)Wave 3 can't be shortest of wave 1,3 and 5 3)Wave 4...
Reason for starting wave count from the point shown here is,in the past price movement(from covid low's) no prior swing high is retraced faster then the fall from that high took to form. Rules and Reason for impulse count 1)wave 2 should take more time then wave 1 to form,here this rule is followed 2)0-2 trend line should not be touched by wave 1 price...
Mahindra _Mahindra one hour current chart Zig zag correction normal Zig zag correction show if wave A low not break see my chart learn Zig Zag correction find live chart -> Daily chart Zig Zag patterns formation it look like GABRIEL INDIA CHART Zig Zag correction WAVE FORMATION WAVE A ]show yellow colour circle --> in inner wave 5 wave sturture .i am count...
Scenario-1 wxy done,currently we can expect either another wave x in the form of ABC or this could be start of an new impulse. As of now stock has retraced 61.8% level of 1493, after giving up move till 1557.Now where this retracement will end cannot be predicted,but generally if 61.8% retracement level is considered to be a good support,hence i am projecting...
The second wave of the 5th wave has exactly retraced to the tune of.. 78% of wave 1 of 5th wave moving ahead we can put a sl at the swing low and expect it to move to a new life time high
Here I will not Explain the Theory as such , but when the Price behavior was studied by R N Elliot and initial findings was explained in clear manner by him , He was more logical then then any other hypothetical theory , but what people get in Net or in education as Elliot wave theory its not fully correct unless use the logical explanation, Most of the...
Three things are very popular in TA: W and M shapes; Fibonacci levels; and Elliot Wave. And these three are the building blocks of Harmonic patterns. It has been observed that the frequently occuring W and M patterns have fixed levels of retracements and projections for each leg. And it is those fixed levels which differentiate one pattern from the other. So the...
Diamond Chart Pattern in Classic Technical Analysis is associated with Trend Reversal. However, in Elliot Wave it may act as a Trend Continuation pattern. In this case the pattern mostly occurs in wave B. Since this is a very powerful pattern which occurs rarely, should not be missed as gives a very fast move. The pattern occurred in Adani Enterprises Hourly...
Market fall may have taken few by surprise, but followers of price action techniques should have this scenario in their plan. Trend analysis (or Elliot wave analysis) along with Fib Retracements could be of enormous help if used in tandem with price action. They at least give you minimum target and levels, so that you are able to ride the trend and also do not...
The human Behaviour in Relation to money is always dominated by fear, greed and hope. Candlestick analysis will help us to understand these changing psychological factors by showing us how buyers and sellers interact with each others. 1) It is considered as a visual representation of what is going on in the market. 2) By looking at candlesticks, we can get...
IEX is showing impulsive rise post covid low's.Currently we are in Primary wave 5 (which has taken a form of ending diagonal as it's 5 intermediate wave has 3-3-3-3-3 internal structure)intermediate wave 4 minor C,which can end near 200 odd levels. Following are the reason for intermediate wave 4 to end around 200-206 levels. 1)100% extention of minor A for...
I tried putting Elliot wave label on Asian paint daily,weekly and monthly chart and couldn't come to any logical conclusion,as the uptrend didnt followed any fib rule's neither did any major swing have an internal structure similar to elliot pattern cumulatively which could make an elliot pattern. Never the less i have shown channel on the monthly chart which...
This is an extention of WXY elliot wave pattern.This pattern has seven leg's just like WXY double corrective pattern.Here we see contraction in first 3 leg's high's and low's followed by smaller wave d bith in terms of price and time followed by expansion in last 3 legs. Each leg is internally divided in 3 sub wave giving entire pattern internal structure of...
cycle: wave 1 Primary : wave 4 Intermediate : wave C Minor : wave 5 Target zone for Minor 5 @49.55 : 100% extention of intermediate A from B top @47.05 : 61.8% retracement of primary wave 3 @44.35 : 123.6% extention of intermediate A from B top If price goes below 44.50 then it would invalidate this count,as wave 4 cannot enter wave 1 zone. Confirmation...
I am not familiar with Elliotwave analysis... is it correct any body comment???
Labelled as per my knowledge(Definitely not labelled what i want or would like to see) . Completely for Education Perspective. Please Do not Hold/Sell/Buy based on this post. I don't believe in Traditional Elliot wave.
Explained in the chart regards . But its a good buy for a trader .