We can count waves using traditional patterns like Head and shoulders, Double Top and Bottom, Triangle, cup & handle, etc. This article is about how you can count waves by identifying chart patterns. I have covered Three chart patterns in this article, 1) Triangles 2) Head and shoulders 3) Double Top and Bottom 1) Head and shoulders : In addition, the two lows...
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...
Elliott Wave background In the 1930s, R.N Elliott identified the price of the stock trends and reversed a specific pattern. This pattern is repetitive in form and, the patterns have predictive value. He decided to use this pattern (Elliott wave theory) to predict the market. The Elliott wave is not primarily a trading system. It is a detailed description of...
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...
GABRIEL INDIA --> 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 1,2,3,4,5 in black colour WAVE B show yellow colour circle --> in inner wave 3 wave sturture .i am count a,b,c in red colour WAVE C show...
To avoid false breakout you need 3 condition for breakout It is not sure that breakout become success but it increase ur odd in favour
Howdy Traders , The Ichimoku cloud was evolved by Goichi Hosoda, utilization of Ichimoku Kinko Hyo 1.identify support & resistance 2.momentum 3.Find trend direction Parts of ichimoku cloud 1.kejun sen 2.Teken sen 3.senkou span A 4.senkou span B 5.kumo cloud 6. chikou ( we will learn in part 2 ) Happy...
In this chart you can see that price is respecting parallel channel. if price wants to grow more , their is no concept of truncation. wave 5 may have to travel 78.6%. price may destroy resistance and we can also get pull back. check related idea for more detail. if their is reversal we can get signal by candlestick patterns.
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...
Just for education purpose. Will keep on sharing more patterns. Like & Share Please! :-)
A flag pattern is a trend continuation pattern, appropriately named after it’s visual similarity to a flag on a flagpole. Flag patterns can be bullish or bearish. 1. Flagpole: A line extending up from this break to the high of the flag/pennant forms the flagpole. The flagpole is the distance from the first resistance or support break to the high or low of the...
Why do I prefer taking trades at 3:25 p.m.? Most stock prices rise significantly after 3:25 or fall just before 3:25, forcing us to enter at a lower price. Second, we simply want to be as close to the closing price as possible because many intraday positions are squared off at 3:20 p.m. and the price remains somewhat volatile for the next 5 minutes. In my...
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...
Just identify big candle move in ur chart which is strong enough so this is kind of move is made by Big player , draw the zone using open and close of basing candle and wait for price to retrace and show The price rejection The price rejection because bank deploy their limit orders Keep learning
Here is a stock with good cash flows and EPS. RVNL made its previous all time high in January '21. Then, it went for a healthy correction at the end of the month. Getting retraced from the golden level of Fibonacci, then it consolidated till the 3rd quarter of the year. It skyrocketed to the new high at 44.80 in mid October. In this situation, I drew the...
Hi all, today we are going to study about basics and usage of technical analysis. I have prepared this wholesome post so that you guys are able to understand what technical analysis is all about. I have shortened the sentences to readable points, hence, don't mind the grammar. Learning objectives: After studying this post the student should be able to...
A Cup and Handle pattern is a bullish continuation pattern that resembles a teacup on a candle chart followed by a breakout. The cup part of the pattern is where the price gradually changes its direction from bearish to bullish. The handle part is when the price pullback slightly before roars higher and continues the previous trend. Cup and handle is used to...
Apl Apollo is one of the leading companies in Indian Steel sector. I had some previous posts on it as well, which played out well for me. The key aspect is to put urself in those big shoes and think like an Institution. The key problem if you are an institution and want to buy a sizeable portion in a share is LIQUIDITY. How will you get enough sellers to buy...