ABC Correction on Reliance industries Howdy Traders and investors !
you are showing reliance 1 day timeframe chart.
I have analyzed this chart with Elliott wave principle.
so shall we direct jump on pull ?
yes !
shallow ends first !!!!!!!!!!!
I have liable impulse phrase from November 2016 to September 2020.
before 2016 data of chart it quite deceptive and I always ask my self that do I recognize the patterns which
I was looking for ? so yes...
wave 4 is Forming Triangle and at the E point of Price has completed wave 4.
wave 3 and 5 is extended
now wave 5 have finished his bull run and it's Time form corrective Phrase
I can find 3 sub wave of Wave A. if wave A can't make leading Diagonal and C point is the end of wave A
so correction must be flat.
if wave B will End beyond wave A so we can have Expanded Flat. If wave C cant exceed ending point of wave B so it must be
Running Flat
when correction will be finished we will ride on Impulsive moves.
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