alternative view redingtonan alternate view on final 5th wave and once this is completed. an impulse wave was yet to complete.
ELLITOWAVEANALYSIS
IRCTC: Case of ENDING DIAGONALTheory:
DIAGONAL:
Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of the wave 1.
Properties Of Diagonals:
Diagonals can be contracting or expanding type being expanding diagonal a rare one.
In contracting type, wave 3 is shorter than wave 1, wave 5 is shorter than wave 3, and wave 4 is shorter than wave 2.
In expanding type, wave 3 is longer than wave 1, wave 5 is longer than wave 3, and wave 4 is longer than wave 2.
Types Of Diagonals:
LEADING DIAGONAL
ENDING DIAGONAL
LEADING DIAGONAL: In a leading diagonal , waves 1,3, and 5 are all impulsive in nature or all in corrective form of zigzags. Wave 2 and wave 4 are always present in a zigzag form. A leading diagonal suggests the starting of a new wave & that is why it can develop wave 1 of a impulse wave and a first wave of a zigzag pattern.
ENDING DIAGONAL : 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 diagonal , a swift & a sharp reversal takes place which bring the prices back to the level from where the diagonal has began. (generally it retrace back to the wave-2 of the diagonal sturcuture)
TRADING STRATEGY:
Buy IRCTC with SL of 557 and look for the upside targets of 700-710
Banknifty making elliot waves Banknifty is known for its levels and breaking it simultaneously , now we see the Elliot waves candle sticks chart pattern and we can see a upside potential for the banknifty as per technical analysis , once it breaks the 38800 resistance we can upmove of more than 1000-800 points if it sustain over 38800.
CRUDE OIL: ENDING DIAGONALCRUDE OIL: EDNIGIN DIAGONAL : MY FAVOURITE ! Go long with day low SL 67.5 $ for minimum target of : 70.85 $.
PIDILITE : Triangular thrustBuy with sl of 1800 closing basis for target of 1950-1965 region ! Be careful as this is the terminal thrust for the current trend.
RBL: Correction over ?After the five wave rise stock has given a 3waves corrective move in the form of wxy. Considering this correction as a wave 2 completion on larger degree, one should go long on current levels keeping SL of 170 & target for higher in 5 wave impulsive rally. the immediate target should be 220/240
SRTRANSFIN An EW ViewSRTRANSFIN An EW View
Always understand the risk associated with underlying security.
Thank you.
The price is travelling toward the 5TH Wave on NIFTY.Normally I don't prefer to trade with a heavy position at 5th wave especially, whenever 3rd wave is extended. In this case, we're moving toward forming 5th Wave.
I have already predicted 5wave of A, B, and C by using future expected retracement.
EWT WAVE TRYING TO FIND IN ASIAN PAINTSJUST LEARNING IF ANY ONE WHO HAVE KNOWLEDGE ABOUT ELLIOT WAVE THEY CAN HELP ME WHERE AM I WRONG OR RIGHT ?
BITCOIN,elliotwavet1=11226
fifth wave can not go above 10943.
wave fifth can achieve the target of 11226.
wave five can make after triangle .
fifth wave over into 10943 to 11226.
Strides Pharma trade setupLeg a,b,c has satisfied the characteristics of a triangle,this is most probably a triangle. Assuming this as a triangle, leg d will be completed at some 500 level. After leg d is completed, it can be a great opportunity to short for leg e of X/B. after completion of leg e and X/B it can be great opportunity to go long till the wave 4 completes. Keeping probabilities in mind and considering that this is not a triangle, we can assume that leg X has been completed instead of leg c of a triangle, then leg d can be a leg a of Y of 4, which can be still a great opportunity to short for wave b.
If a triangle forms, then most probably, it will form a EX-flat structure of wave Y (just smaller degree of wave 4).
All the targets, SL and entry point will be in smaller time frame keeping internal waves in mind.
