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BHEL

Rising shoulder in BHELBHEL is in a downtrend channel from 11th April with a continuous series of lower waists. But at the same time two things can be noticed here: a. A rising shoulder pattern is forming which means if the price crosses above 27.60 then we might see a bull run. b. Price is trying to cross the red zone and about to enter into a green zone which is also a bull sign but at the same time this move can be stopped at the upper channel. The current resistance is at 46.50 whereas support is at 21. NSE:BHEL
NSE:BHELLong
by Traderanit
Gann and Elliott combined togetherWhile it’s not always clear why a time and price symmetry identified a market turn, such symmetries do indeed exist. Gann, considered the squaring of price and time his most important discovery . He called it range and time squared. However, the proper application can be tricky. Markets are enigmas, and this attribute demands a great deal of flexibility when working with price and time studies. How i calculated the Date as 20th May From wave 1 to wave 3 - it took 43 price range Add 43 trading days from the date of the lowest point - that is from 13th March - it comes to around 20th May Now about the Price The lowest price on 13 march is 18.4 square root of 18.4 is 4.3 . we have to add 1 to this number to get 180 degree = 4.3 +1 = 5.3 To calculate the price - 5.3 * 5.3 = 28 also 38.2 % fibonacci retracement comes to 29 . This is just another example of how Gann’s principle of time and price balance out.
NSE:BHEL
by joel-vg
6