SCI after a uptrend with a fifth wave extension. was moved to a correction. the correction also has a Neo wave bow and tie pattern after which there was a sharp fall which can complete wave C. can SCI revere from this correction we need to wait until to get the confirmation.
Reasons For Trade- 1.Price has Broken 4 Hour channel
2. Price is Retesting the important resistance of 1075 wich was support earlier
3.Daily Trend is Down
4.Risk Reward 1:2
Sell at 1070-1075 Stoploss 1093
(Intraday- Sell at 1070 Stoploss 1093 Target 1030)
currently zigzag is formed so target will atleast touch end of wave a else if stoploss hit then it will form flat correction then also look for sell with stoploss as starting point of a wave and target will be ending point of a wave.
Disclaimer:- This is not a financial advise to invest in any crypto currency. If you take any decision to invest based on this technical analysis, I'll not be responsible for your lose which may incure by the market volatility.
I have published an idea of BTCUSD Price before so you can have a look on that chart also. Now you know we have got some more update on...
i would probably like to go long in the counter and still feel that a some sort of strength still left in the script ... keeping in mind that a tough tough resistance at range of 685 - 695 is diificult to break!
sl 637 - 640
tgt 685, 695, 734 +++
Need help from Neo wave Specialist : What are the price and time similarity in neo wave 7 legged diametric if anyone can let us know that would be gr8.
Vertical price bar marked as leg a-c-e-g (currently g leg happening)
Pull back from top of previous veritcal to bottom of next vertical are b-d-f legs (6-7 days)
If g is longest leg than nifty targets can...