Elliottwaveanalyis
#Dabur ending correction soon?Dabur can be a good pick if you are looking for some medium-term investment in sometime, as the ongoing correction looks to be in the last stage of it impulse.
We may then possible see it soaring higher.
P.S. Always trade on price confirmation.
**This is an educational market outlook, not investment advice. Please consult a SEBI-registered advisor before taking any investment decisions.**
GBP/USD: Post-Impulse Sell Setup from Ending DiagonalThe chart depicts a completed 5-wave impulsive structure, culminating at the top of wave (5). The internal wave structure of the final fifth wave forms a classic ending diagonal pattern, typically signaling a trend reversal or deep correction.
After this extended fifth wave, the price has started rolling over, confirming the start of a corrective decline. The wave count now expects an ABC correction targeting the previous wave 4/2 demand zone, highlighted in red.
Target 1 (T1): 1.33608
Target 2 (T2): 1.32436
Stop Loss (SL): 1.35988
Ending diagonal at the top of wave (5) signals exhaustion of bullish momentum.
Clear bearish divergence (not shown here) is commonly seen with this pattern.
The price has broken the short-term structure and is now forming lower highs.
Target zone aligns with previous wave 2 consolidation – a typical retracement zone for post-impulse corrections.