Hello Traders! 1. We see 3 consecutive highs after proper consolidations . I have some self-made rules for this setup which have worked with almost 90 percent accuracy. 2. We also have a 2-bar reversal pattern in 1 hour tf. 3. Sell below the red line . The stop may be updated if the market makes a new high before our entry. 4. We also have 2 potential...
Hello Traders! 1. We have a symmetrical consolidation pattern in USDJPY on multiple tfs. 2. The consolidation appears to be more bullish than bearish. 3. PNL has been set for entry and stop levels. Stop levels may change in case stop level gets hit before the entry is done. 4. Always take a slight buffer when going towards buy side since there is pip...
Hello Traders! 1. We see a completed 3rd wave of impulse that started after Lockdown - March 2020. 2. We see a clear zigzag correction for Wave a, marked with red ABC. 3. We see a 3-wave Wave b . The count of wave C of this wave is being shared here for clarity. 4.The most expected target for BankNifty should be around 30500 . This is because we...
Hello Traders! 1. We see an Expanding Leading Diagonal for Wave 1. 2. As per the guidelines, the most common level for retracement of a leading diagonal is 78.6% . That is exactly what happened here. We also have a support on the same level. 3. We have a clear invalidation level at the start of Wave 1 . 4. The most expected target for Wave 3 would be ...
Hello Traders! 1. We see an Elliotical rising wedge completed. 2. A clear impulse down . We can expect at least one more impulsive wave even if it happens to be a zigzag correction and not an impulse down. 3. A retracement of 61.8%. 4. The invalidation level and target levels have been marked on the chart . 5. This is not a very long term trade ....
Hello Traders! We recently saw the market analysis of Nifty50 using Elliot wave theory. Elliot wave theory can be very accurate when it comes to the market. You can get the analysis wrong, but if you apply the theory correctly, it can help you in more ways than one . 1. As we see on the chart, Wave 1 and Wave 3 were completed in 62 days each . This is not...