NAVIN FLUORINE - A beautiful triangle pattern breakout. A symmetrical triangle had formed between the support and resistance trendlines. A minimum of 2 peaks and 2 troughs are needed for a triangle formation. A bullish breakout occurs when the resistance line is broken upwards by a green candle closing above the line. This is also confirmed by good volumes of...
Mean Reverting versus Non–Mean Reverting Approaches The type of technical studies employed also depends on the approach taken by traders and analysts with respect to their personal preferences and biases regarding the action of price in the markets. Basically, traders either adopt a contrarian or a momentum‐seeking type approach. Being more contrarian in their...
Idealized Elliot wave Progression
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...
I have given 2 examples of correct and incorrect wave count. You may lose opportunities due to incorrect wave count.
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...
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...
Best example of successful wave count there are few rules to get correct outcome from wave analyses if interested can ask doubts ../
This target measuring is so accurate that it almost like reading next week's newspaper today. All you have to take the peak price before an important decline sets in and subtract next low price from it. For Example in the chart , You'll see the peak at 25 at A and the low is formed at 15 at B, you will get difference of 10 points ,25-15=10 points. next step is to...
Idea of using Elliott wave with Fibonacci level
NSE:HAPPSTMNDS
EDUCATIONAL : NSE:MUTHOOTFIN had been in a downward channel/range ( T1 & T2 ) after making a swing high of 1361.60. Later, it got trapped in a triangular pattern ( T3 & T4 ) within the range and achieved a breakout & brought the bulls in but soon it again came down and took support over T3 at point A. There it made a bullish hammer candlestick which confirmed...
The market never moves in a straight direction. It is characterized by so called zig-zag pattern. Depending on the direction of the market it can be labeled as "Trend of the market". A vast part of technical analysis is based on this trend analysis. The market is usually classified into three different trends. Uptrend Downtrend Sideway trend 1) An ...
With Pharma as a sector is amazing set up, ABBOTT is looking to end the downtrend. Looking forward to break the trendline.
“Control your emotions or be consumed by them.” This is exactly how the financial markets play. You need to be cautious enough to surf the wave of emotions. An illustration as to how quickly our emotions change with respect to the market movement has been explained with the help of NIFTY’s weekly chart. Optimism: It is the hopefulness and confidence about the...
EDUCATIONAL NSE:BPCL is following smooth and pure action. It has been taking supports over T1,facing resistance against T2 and crafting a flat top triangular pattern while getting squeezed. NSE:BPCL had also made a falling wedge pattern inside the triangle and too respected it. I had entered in it at 419.2 with stop loss below 400 and patiently waiting for my...
seems a leading diagonal shall be formed here after the diagonal is formed , it shall retrace a bit ( marked two retracement levels i.e. 61.8 & 78 ) then the upside move towards 1200 .. so this is a watchout counter for next week that is last week of April 2021 Happy investing