current strucutre:WXYXZ(Three correction connected by wave x) Current leg:wave B of third correction wave Z Internal form of third correction (wave Z)is yet undefined,here i have taken it as a flat,this can change.only coming days can tell which form it has taken. Prakash pipe has been trading in an channel,which got breached recently meaning buying momentum is...
price in correction, i'm expecting small upside in 1 hour movement then downside to complete the pattern, you can look for entry around 61 fib its also a support level if you are into support resistance. wait for it to finish the correction. I have also attached my monthly view of the chart in link. Cheers.
Running flat is an Elliott wave formation wherein c wave is short and does not even get in wave a price area of running flat. Assumption: Bank nifty chart has wave 1 hidden as india markert started with Wave 2 and what is forming is a b wave of complex running flat with 5 corrective Waves marked in yellow colors are part of triangle forming in wave...
Always wait for 2-4 trend line breach as explained in the chart for any chart . It will help in wave count . Regards
I have shown only 2 lesser degrees. Wait for a bullish candle stick or HS to form . Regards
Should correct to 17400 - 17600 levels provided the channel and Daily Kejunsen is broken . 17600 is the level of wave E of wave iv triangle and 17400 is wave A of the wave iv triangle. Regards
BASE ON WOLFE WAVE VIEW IS BULLISH
buy on every dips with small quantity without any sl.. target will hit defiantly
wave 2 is between 0.786 and 0.618 level of wave 1. wave 3 is exactly 1.618 times of wave 1. wave 4 started from 925 level, according to elliot wave theory it should retrace upto 780 levels. Which provides us with a good shorting opportunity. For additional confluence:- divergance spotted in MFI indicator (oscillator is making lower high but stock is making...
Levels as mentioned on the chart with probable Price Action to follow.......Inverse Head And Shoulders Be Proactive Trader Better Insight, Better Trade Execution Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk. ''I HAVE A RIGHT TO BE WRONG'' "Always Respect Risk" Happy Trading Jai Hind
HDFC BANK WAVE COUNTS I have labelled HDFC BANK chart with an impulse count as it was following impulse count's rules. It seems like we are about to complete 5 wave impulse pattern on the upside.Following are the reason behind impulse completion or wave 5 of an impulse completion 1)Price wise target of wave 5 is almost done when it made high of 1725,considering...
As per the chart it seems to be at the sub-wave e of abcde trainge for wave ( iv) . wave e should end below the trendline connecting wave a ==> wave c . invalidation :- if the price breaks the trendline between wave a and wave c then the view becomes invalid accumulate at the end of wave (v) . near levels 830 840 850 rs
Hi Guys, another one to add to your trading basket, correction is almost complete for next wave, next move can be 5th wave or third wave of 123 move, just don't get into technicalities of waves, move is very surely come, find your spot around 17.30 to 16.30. look for breakout then buy. Thanks & Take care.
IRCTC witnessed massive drop hitting 2 circuits. The drop took it to 0.236 fibonacci retracement levels. Assuming todays drop as Wave A next consolidation as wave B and see some pullback it could be till 5800. Wave C should drop towards 0.382 fibonacci levels. This ABC correction move should suck and digest all the rally it made so far then next Upmove as...
From 2636 (a or i) and (b or ii) is completed at 2954 and 2781 respectively. From 2781 (c or iii) may be started and minimum projection range is coming at 3099-3175 which can be achieved in coming days. 2844 is good support. If breaks 2844 then may consolidate between 2844-2750.
Stock has just completed its expanded flat correction & is ready to make new highs. One should buy on cmp and add on dips , keeping a Stop loss of 640, we can look for the target of new highs, i.e. 780-800 zone.
Usually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above...
Levels as mentioned on the chart with probable Price Action to follow.... Be Proactive Trader Better Insight, Better Trade Execution Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk. ''I HAVE A RIGHT TO BE WRONG'' "Always Respect Risk" Happy Trading Jai Hind