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Predictions and Analysis
Looks like we have completed a Leading Diagonal formation for W.(1) and W.(2) also looks complete, hence we can plan to initiate shorts here with the SL above swing high. Strong resistance at 7640 level seems to support the view.
tejasshah18
79 views
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A Leading Diagonal 'wave A/1' followed by a sharp fall in 'wave B/2'
It is interesting to watch the price action forming a leading triangle as it can represent a new Wave 1 after a all time high breakout. This chart pattern is generally known as continuation trend pattern and subdivides wave structure in 3-3-3-3-3-3 that indicates consolidation between buyers and seller to move prices. The breakout from here on will define trend...
I have observed that the price action of ICICI on monthly chart is trending up and building a clear leading diagonal. It is been moving in 5-3-5-3-5 waves pattern that is narrowing gradually with the price action. At present, It is been observed that the leading diagonal has completed its Wave 1, Wave 2, Wave 3, Wave 4 and now it is preceding towards the...
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