It seems on a daily we have completed Wave 4, the internal structure of which we have tried to analyse here in 60 mins chart. We can see clear ABC structure which was Zigzag (5-3-5). On completion of Wave 4 on a daily or ABC on 60 mins chart it seems we have completed Wave 1 of the 5th on a daily. Also the current retracement is around 0.786 where we can see the...
In D timeframe, Siemens is in a downtrend. In the previous examples, We have used our own Bounce indicator or ZigZag indicator to identify the swing chart.
But, it is always better to draw the swing chart by hand. It lets us assign an emotional value towards each candle that is formed. Anyways, that's what price action is all about!
As we can see, the candle...
![SIEMENS: [Positional] Siemens Analysis on D frame - Bounce Theory](https://s3.tradingview.com/m/MMQkAumr_mid.png "[Positional] Siemens Analysis on D frame - Bounce Theory")
