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Elliott Wave

Elliott Wave theory is one of the most accepted and widely used forms of technical analysis. It describes the natural rhythm of crowd psychology in the market, which manifests itself in waves. The essence of Elliott waves is that prices alternate between impulsive phases that establish the trend and corrective phases that retrace the trend. In their most basic and straightforward form, impulses contain 5 lower degree waves and corrections contain 3 lower degree waves.

Elliott Wave is fractal and the underlying pattern remains constant. The 5 + 3 waves define a complete cycle. They can form different patterns such as ending diagonals, expanded flats, zigzag corrections and triangles. Fifteen different degrees of waves can be identified with each of the 5 smart drawing tools, allowing users to visually identify different degrees of waves on a chart. The key to trading Elliott waves successfully is counting them correctly for which there are rules and guidelines.
sujit4mechanical sujit4mechanical NIFTY, 1D, Short ,
550 1 2
NIFTY, 1D Short
Nifty Daily chart

Nifty is in the correction phase. All 5 waves are completed. Now started the wave A and most possibly end at 10850. Then wave B will start. Can take a long position at 10800 levels for the short term with the target of around 11300, then again big correction wave C will start. I will update the Levels again.

409 3 3
BANKNIFTY, 60 Long
Elliott wave analysis

Banknifty reversed at support zone and heading to new high.

THEARPITJAIN THEARPITJAIN INFY, 1W, Short ,
275 0 3
INFY, 1W Short
INFOSYS SHORT

INFOSYS IS SELL FOR TARGETS OF 590-550. REASONS: 1. IT IS AT A UPPER DIAGONAL OF A RISING WEDGE (BEARISH PATTERN). 2. 5TH WAVE OF DOMINANT WAVE IS COMPLETED. NOW CORRECTIVE WAVES WILL START. STOPLOSS: "ABOVE SWING HIGH OR AS PER RISK BEARING CAPACITY"

224 0 2
LUPIN, 1W Long
Lupin weekly chart

Correction is completed and there is trend reversal observed on the weekly chart. In current week 1st wave of new cycles is finished and there are chances of small correction and then the 3rd wave will start.

226 0 2
RELIANCE, 60 Short
Reliance, Hourly chart

Wave 3 was completed, now in the correction phase. The Wave 4 will end at 50% retracement of Wave 3. Can setup short selling trade for the 1135 target. Good Buying opportunity at 1135 level for Long term.

lekha1506 lekha1506 NIFTY, 60, Long ,
189 1 1
NIFTY, 60 Long
Elliott wave analysis

Nifty is heading to New High as it is trading at strong support.

sandipan.mch sandipan.mch MGL, 1W, Long ,
345 5 7
MGL, 1W Long
mahanagar gas at bottom...

Disclaimer..not an investing/trading recommendation https://www.tradingview.com/x/8BXJfQDE/

27 0 0
HSI, 120
Hang Seng...Exhausting trend?

Hello Traders, Hang Seng closed this week at 25801, a loss of -1.89 (according to teletrader.com). This was the lowest closing since mid-May 2018 and is maybe a wave 4 of Minor degree. It drops below the blue trend channel that I have marked as important and closed right at the lower line of it. There remain an open Gap at chart, implying the same possibility as ...

naiyarmankad naiyarmankad GBPNZD, 60, Short ,
12 0 0
GBPNZD, 60 Short
Start of the next IMPULSE!!!!

Hello everyone, I've been looking for short move since 2nd week of the September. As shown in chart price is showing sell sign by divergence On RSI and MACD both. When price move forward in our forecasting direction then Move SL past the entry. If it's not the move down then we again look for the sell opportunities.

38 0 0
HDFCBANK, 1D Short
HDFC BANK short term recovery n again downtrend

HDFC BANK will show some uptrend move up to 2065-2070 level. Once this trend will finish, get a chance to short. Please maintain 2100 as stop-loss.

sujit4mechanical sujit4mechanical LUPIN, 1D, Short ,
77 0 0
LUPIN, 1D Short
LUPIN, daily chart

Will give the opportunity to short at 920 level, keep 926 as SL.

105 0 0
ASHOKLEY, 1D Short
AshokLey daily chart

In the correction phase on daily chart pattern. Wave A & B completed, started wave C. Redline will be the stop-loss.

sujit4mechanical sujit4mechanical UPL, 1W, Short ,
52 0 0
UPL, 1W Short
UPL weekly chart

Currently, in the correction phase on the weekly chart, wave A and B completed, soon start for correction wave C. Redline will be the stop-loss.

fcsa fcsa NIFTY, 1D, Short ,
393 0 2
NIFTY, 1D Short
NIfty - Short

Shorted Nifty @ 11735 (Sep futures) Currently it seems that Wave-III is retracing. Expected range for Wave-IV is between 38.2% & 50% retracement. There could be volatility and consolidation. Just closed the short trade at 11455 as I was writing this. About 280 points per lot profit. Shall enter again on the short side when the levels seem right.

168 0 1
KOTAKBANK, 1D Long
LOOKS GOOD TO BUY

Simple and Repeatable setup with low risk high reward.

fcsa fcsa MARUTI, 1D, Long ,
159 0 0
MARUTI, 1D Long
Maruti - Long Entry - Positional Trade

Long entry in Maruti 27th Sep Futures at 9166 on 31st August - CMP is now at 50% retracement of the rise from 8255.5 (21st May) to 9929 (24th July). To me this seems like the ABC retracement of Wave-V is over and a new Wave-I could be starting. Some consolidation could happen of course, before it rises. (See Daily Chart on right) - The Daily chart shows very ...

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