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...
What Is Stop Hunting? Stop hunting is a strategy that attempts to force some market participants out of their positions by driving the price of an asset to a level where many individuals have chosen to set stop-loss orders. The triggering of many stop losses at once typically creates high volatility and can present a unique opportunity for investors who seek to...
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...
Bank Nifty Making LH continuous and HL , BN also getting rejected from 61.80%
Most common found pattern. Its temporary pause to extended rally. Key to identify this pattern is rejection after breaking wave A start. Always look for very smaller margin rise above start of wave A. C wave is sharp fall to reach 0.382 Fibonacci retracement of rally. All other details explained in chart. Comment your doubts.
L&T: Have tried labelling from covid low's. *Logic behind labelling price as corrective structure: From covid low's no swing has internal structure of an impulse, every swing is divided in 3 sub-waves meaning rise in L&T was corrective.Also no impulse rules were followed to make an impulse pattern ofhigher degree. *Eliminating corrective pattern: From covid...
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...
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...
hello traders hope you find this post helpful thank you
This short video explains how the evening star turns into a wedge pattern. If correct, downside 16590 was critical support, holding above Nifty could bounce back again to 16680-16700. On the upside, Holding below 16712 highs, It can attempt to fall back again to 16615-16625 & assuming that if Index falls below 16590-critical support, it can fall to 16500 / 16440 /...
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...
This video discussed a bearish harmonic pattern that might be quietly sitting & hiding in the price structure if unfolds exactly holding below 16701.85 then the downside support could be 16510-16530 / Below 16500 for 16370-16390. ----------------------------------- Last Nifty Video Idea ----------------------------------- Hope you enjoy the video. Good...
BNF may touch 37000, bullish divergence and High AVWAP support
Bullish divergence, AVWAP support...will move up shortly
wave count Cycle-1 Primary-5 Intermediate-4 Minor-C Minute-5 Target zone for Minor-c is shown by taking 38.2% & 50% retracement of wave-3 intermediate. If price falls in the target zone and gives reversal candle in the form of Doji,Hammer,Bullish piercing or Bullish Engulfing followed by a close above high of reversal candle then we can assume intermediate wave...
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...
This Short Video Talks about Auropharma / HDFC & shall wind up with update on Nifty Index. Important support levels - 16542 / 16475 Thanks for watching the video.
Educational Idea talking about reversal candlestick pattern - Tower Top & Double Divergence at the tops could be halting the bullish moves. Once we get follow up going below 16475 immediately- It could have bearish bias for the days / weeks to come ahead. Important Support Levels - 16160 / 15800-15900 / 15500 Thanks for watching the video.