Asian paints had corrected more than 16% in just a month . After 101 days, the price is back to the strong support zone. Price has made a kangaroo tail/hammer candlestick pattern on the support zone. 200EMA is also near to price. Wave principle is also giving a similar explanation. There are three confirmations to find the ending point of wave four. 1. Price...
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...
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...
On the price chart can be draw in parallel lines. For example, prices come right in front of you. If this is accurate and if I call the channel of the true value you draw. No, see if it is contained by parallel lines. It is a reasonable price, the price of the action counter train is contained by the action parallel mind, so if the price action is not contained...
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
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...
Hey everyone, Here is a detailed analysis of Cardano . It has been in a downtrend since September first week. We might consider this downtrend as a correction if it takes support on the 0.786 level of Fibonacci . Let's get into the history of ADA and what happened in the past few weeks. ADA retraced from the golden zone of Fibonacci of the previous wave and...
Whenever you see strong and big bold candle it is a clear indication of big players Because this kind of move can't be made by small money so if you want to find bank And financial institutions move you don't need to see data and news just see the charts This big move retrace because of some PROFIT booking by big players The dragonfly doji is because all big...
Unit_of_Technical_Analysis: Weekly Cycles Chapter 4: Trading Fibonacci Levels & Extensions of the Bull Cycle Fibonacci levels Tools used: 1. Fibonacci Time Frame: Weekly Method: 1. We have got the Bull cycle of 2016-2020 here and we are measuring the moves on Fibonacci Retracement on 2012-2016 cycle. 2. We have got the Bull cycle of 2020-2023 here and we are...
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...
NOTE: SHORT SELLER MIGHT HAVE MUCH RISK BECAUSE OF GAP UP WAS OPENED ON 16 DEC. 2021 INFY 4hrs continuation chart with 5 waves up and side wave trend. Possible also upside move instead of WYZ flat pattern but if we just look at WYZ flat pattern scenario 1725 and 1692. Look for equality, I come to exactly 1660 where wave Y equals W. One of the waves within...
After making high it seems we are done with the FLAT correction (C) after a last leg 5 Red is finished as long as it doesn't extend much beyond 858.85 level. AS the connect (B) Blue seems very shallow hence their is possibility of it making a bounce and forming new connector (c) blue which means we can even have one more leg Downside to complete the...
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...