Let's talk about each waves of Triple Zigzag:
Wave W (5-3-5) impulsive: ((a)) = ((b)) at 17709 which is close actual low 17613. Its a sharp zigzag.
Wave 1X corrective: Wave ((b)) 3-3-5, Running Correction which is little complex.
Wave Y (5-3-5) sharp: ((a)) = 0.786 ((b)) at 16824 which, is very near actual low as 16782
Our first question is, What is the...
What's the difference between a running triangle and, contracting triangle?
Trick is very simple. The wave "B" is beyond the origin of wave "A" we have diagram in a chart.
Respect to the triangle a few things to remember.
1) they can only form by themselves in wave "4" , wave "B" , wave "X" and rarely wave "2" . That being the case, triangles...
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...
Hello Friends,
Here we had shared some major points and characteristics of Zigzag Correction pattern of Elliott waves.
Also we had shared real example chart study of zigzag pattern as a case study of NaturalGas, in which their are some principles and guidelines, which are perfectly going through in chart of NaturalGas.
Principles and Guidelines of Zigzag...
Negative divergence on RSI for wave 3 and wave 5 was indicating weakness which is confirmed when wave 2 & 4 trend line got broken in less time than wave 5 took to form.However wave 4 low's has not been taken taken out in less time than wave 5 took to form indicating current fall is correction and not major trend reversal.
Question is what form will this...
We witnessed an awesome planned fall in Bank Nifty, hope you all enjoyed and made money with the idea.
Lets look at the Plan of Bank Nifty & Nifty
My Favourite Bank Nifty first
& Nifty
Lets dig deep into the structure & my thought process behind it
First thing First "KEEP IT SIMPLE BABY''
Model 1 ...
Hello everyone,
I have tried my hands to explain Kennedy's Channeling technique (KCT),
In this video what I have explained is:
ZigZags ( Internal pattern & concept of channel)
Flats (Internal pattern & concept of channel)
Impulsive waves (Internal pattern & concept of channel)
& a Example
Please do comment what you guys like about the video & scope of...
Bank nifty has technical Support in 27100 to 27200 Zone... in hourly chart it looks trading in 5th wave.... (Note the impulse pattern from 28388 Might be part of zigzag... So if 27100 Holds I expect some pull near 27900 in short term)
Tried to capture Elliott Wave Theory Patterns:-
Elliott Wave Theory is named after Ralph Nelson Elliott (28 July 1871 – 15 January 1948).
3 Cardinal Rules of the Elliott Wave Theory
Rule Number #1: Wave 3 can NEVER be the shortest impulse wave
Rule Number #2: Wave 2 can NEVER go beyond the start of Wave 1
Rule Number #3: Wave 4 can NEVER cross in the same...
looks like double correction to me
Primary degree: Red
Intermediate degree: Black
Minor degree: Blue.
Current Count:
Primary: wave Y
Intermediate: wave C
Minot: wave wave 3
complex correction's are identified by price movement confined in channel.Here we can see this phenomenon happening.wave Y has taken a form of an zigzag corrective pattern of which wave A...
I get a lot of questions about Elliott Wave but a particular question often received from the followers:
Where to start wave counting on the chart?
How do I begin/start wave counting on the chart?
How do you do Wave Counting?
I’m going to introduce working 3-tricks which are used by me while establishing Elliott Wave Counting on a chart. These are my...
It looks like mother Sumi has completed the 4th wave correction, and the ending point of the corrective wave (4) is the starting point of wave (5).
Wave (4) is occurring in double three corrections.
A "double three" consists of two corrective patterns, the first labeled W, and the second label Y, separated by a corrective pattern
on the opposite side, which is...
In this " Research Report " we're going to be looking at the "Flat correction". As you know, with respect to the Wave Principle, there are three types of Corrections.
1. Zigzag
2. Flat and,
3, Triangle
We're going to examine the Flat now. The first thing that's important about this pattern here is being able to identify its characteristics.
First is, its...
I can only come up with this following count,in order to come up with a logical count,i kept on taking more data in order to make some sense with my labeling.
Reason for considering current rise a part of Bow-Tie Diametric Pattern are as follows
Starting point was taken on the basis of faster retracement of prior swing high ,since then price has not shown any...
labelling done using following rules
for impulse
1)wave 2 should not retrace wave 1 entirely
2)wave 3 cant be shortest
3)wave 4 cant enter wave 1(except diagonal)
for flat with truncated wave c
1)wave b should at least retrace wave a by 80%
2)wave c should at least reach 61.8% extention of wave a.
for zigzag with truncated wave c
1)wave b should not retrace...
You can also learn and get confident from my backtest chart with proof. Refer the chart for the same.
The above chart illustrate what is Regular flat correction. 3*3*5 structure.
Guidelines
• A corrective 3 waves move labelled as ABC
• Subdivision of wave A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A...
After momentum divergence and 2-4 trend line breach bank nifty trend has been side ways to downside.
so far it looks like bank nifty is making double correction WXY, of which wave W and X is done and Wave y sub-wave A is done and Wave y sub wave B is going on,which should be used to exit long's previously hold.
Now where this wave B will end cannot be...
