2nd wave of the 5th wave have ended, 3rd wave of the 5th wave has started.
bank nifty also consolidated today and formed a bullish flag patter and it gave a good breakout
it have also formed the AB=CD Harmonic pattern
so expecting a gap up opening of minimum 200 points tomorrow
after the completion of 3rd wave expecting a quick fall as a retracement
I will buy UBL because :
It has been taking support at the trend line .
It has been consolidating and give big move soon.
So will be looking at buying opportunities.
If it breaks the support look at shorting
Entry : 1107
Target : 1276/1300
Stop loss : 1039
The current BTC chart on a daily timeframe looks read for a big pump to $41k. The squeeze of the trend will create a implusive move and will lead bitcoin.
But, until bitcoin breaks $42.5k, we are in a bearish trend. but this could be an opportunity to book some profit for a short term.
Still a possible risk of breaking it on downward is still their so trade...
Presently, the price is trading in ABC corrective wave inhere the Harmonic Alternate Bat OR Gartley pattern is in progress.
Reversal of Gartley Fromm 1895 of 0.786 fib ratio.
Suppose to, the price fall then, alt. Bat pattern of reversal zone is 1801 nearby for 2009 and 2130-50
Expecting a fall to 120-130 zone. This zone will act as a barrier band. Expect reversal from 120-130 levels. If it breaks this band of 120-130, we can see 100 levels. But there is a less chance to break 120-130.