A friend of mine asked me to consult him on Adani Ports , so I did.
Uploading the same for the benefit of all my folks here at Trading View.
Adani Ports is in it's main 3rd of a large degree (Wave count marked in Red). It's in the last stages of completing this 3rd as depicted on the chart.
It should now go for it's last move up before it completes the 5th ...
Howdy Traders,
we already know that Triangle occurs in Corrective waves and Diagonal occurs in Impulsive waves.
Their are three type of Triangle
1)Expanding Triangle
2)contraction Triangle
3)barrier Triangle
Their are 2 types of Diagonal
1) Leading Diagonal
2) Ending diagonal
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This is the...
This is the most common diagonal that can be found out at the ending of a main trend or main correction. It consists of all the waves 1-2-3-4-5 in a single or multiple zigzags. They can be found placed at 5th wave of an impulse wave or can been seen as a wave ‘C’ of a corrective waves zigzags or flat. After the termination of the ending diagonal, a swift & a sharp...
TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
August Series Option can be traded.
Wait for entry setup, if available then Long/short.
Reward is 5-6 Times
The price action is been trading in a leading diagonal pattern which is now indicating weakness as higher prices rejected by sellers and sellers are now in dominance.
I would suggest to short this one on every rise.
Target 1: 850
Target 2: 825
Stoploss: 940
Trade with care, thanks for your support.
The price action on hourly charts indicates that there is high selling pressure that has broken out from preceding diagonal pattern. It simply indicates weakness and dominance of sellers.
Target 1: 1668 (i.e. Fibs retracement levels of 0.382)
Stoploss: 1840
The price action breaks out from a trending channel , indicating weakness and bearishness. It shall now reach to Fibs levels targets at 321, 313. Stoploss 336
