When ever if we see a 5th wave extending . We need to look at the following 1. Slope of wave 1 > wave 2 > wave 3 .
1.So trend channel will look like a megaphone pattern .
2. Wave 4 has to be deep becoz wave 4 will behave like wave 2 .
3. wave 5 may be 1:1 frm wave 1 to 3 extended from the end of wave 3 . (More on this later with a good example)
But most...
This rules applies only for those waves where 3rd wave is extended . I will talk abt 1st and 5th wave extension and LD's with angles with examples in future . Now when ever u see a 5 wave structure draw a line joining wave 2 and wave 4 . If the impulse has to end then the 2-4 line will be broken in lesser or same time than it took to form wave 5 . And it should...
From 14592 wave (i), (ii), (iii) and (iv) is completed at 15137, 14885, 15800 and 15450 respectively.
from 15450 wave (v) is started and projection range for wave (v) is 15912-16197.
ELLIOTT WAVE ANALYSIS: All observations are clearly indicated in the chart.
Elliott wave is an road map to identify the direction of market.
Wave "1" : Motive wave completed
Wave "2" : Correction Running..
Wave "3" : Motive Wave Golden wave going to start again.
Kindly hit the like button to forecast the chart like this further
To learn and...
Leading diagonal from 19apr is about to complete. Now it is in final leg - w5 of 5 of 5 and which may be extended up to 36200-300 level,
This is invalidated if breaking below 34850 level before testing 35810 level.
Disclaimer: This is just my personal view. You are advised to rely on your own analysis while taking trading decisions.
Wave count from Mar'20 low:
An impulse from 22apr is about to complete. Now it is in final leg - w5 of 5 of 5 and which may be extended up to 16000-50 level,
This is invalidated if breaking below 15770 level before testing 15902 level.
Disclaimer: This is just my personal view. You are advised to rely on your own analysis while taking trading decisions.
Wave count from Mar'20 low:
