In my previous idea, I already suggested that we could see some reversal around 161/57 for 185 at least. It gave a breakout from the pitchfork as well. Will attach the link below.
Now, as per elliot waves, if the counts are valid, then the scrip soon touch the marked levels on the chart. If you're a trader, then a right entry and SL is too important. So look for a...
howdy Traders ,
you can clearly see that FIVE wave impulsive phrase Has just completed and we are at corrective Phrase.
wave A is impulse and when we are focusing on subwaves so 4th subways is ready to be completed !!!
if we want to make money we will focus on 5th impulsive subwave.
if wave A will finsihed only with 3 wave pattern so we will go for 3-3-5 wave...
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 ?
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...
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Upcoming wave is impulsive wave and target is 577 nearby after up breakout.
Let's check Breakout more closer look.
While breakout the price Congestion, volume should more than 2x from average volume.
The bhartiartl in...
TREND ANALYSIS & TRADE SETUP
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R:R is 5 to 8 times.
NSE:NIFTY got stiff resistance around 11860 levels, moving above head of hypothetical pattern will make the pattern invalid and holding above it for sometime will only push stock towards 11935/65/00 levels. If the H&S pattern comes into action, index may fall towards neck line of the pattern and if breaks and hold below neckline may push further down towards...
Considering end of wave e(triangle at 10864 level) and wave 1 completed today, we may get good opportunity to ride wave 3 by shorting at 10780 to 10825 level where wave 2 might complete. Keep Sl 10924, technically SL will be 10865 but if triangle has not yet completed and still in WXY pattern then 10924 will be the SL. We will keep alternate waves in mind while trading.
As we can see price has been in a very good and strong Downtrend for a while and then it started retracing, my bias and Technical Analysis says that the retracement is complete or it is about to be completed. but If retracement is completed then this time is good oppertunity to sell.
TRADE WITH PROPER STOP LOSS BASED ON THE MARKET STRUCTURE!!
Prepare for NU BUY
As described before price was retracing and now it has came around 61.8% of the original impulse, So now we'll have to prepare for the BUY.
I'll looking for BUY entries around 0.6760 price level, apparently which will also complete the 5 wave structure.
All idea is depended on Wave structure.
An expanding wedge is a part of a flat in this case and it is completed or about to be complete.
But this can be a or it is a start of the next impulse up which will be the C wave of the Flat.
In monthly, it seems a complete elliott wave cycle is complete, and stock has bottomed out.
in weekly, we can see that, round bottom is forming and fresh impulse already started here.
round bottom pattern tgt
so with a sl - 54, 1st tgt - 95, 2nd tgt - 151, long term tgt - 500.