As shown in Chart , which contain Five colored Box where each box represente One Implusive or Corrective wave . Box1 , Box3 and Box5 represent Implusive or Motive wave . Box2 and Box4 represent Corrective wave. As shown in Chart Impulsive Box1 was filled , Corrective Box2 was filled, Implusive Box3 was also filled, and Corrective Box4 is not filled fully...
Bullish wolfe wave pattern is formed in IBREALEST.
As a investment strategy stock can be bought at current level for a target level around 250 in Medium Time frame.
Price action higher high and higher low is also generating positive confirmation for the script.
Long position, at-least for 20 days . It's the perfect test of patience by hodling your profits. Good luck.
check graph for more info.
Follow me guys, so I will update more frequently with greater analysis.
Disclaimer: My views are not written on stone and can be sometimes wrong, since no one is 100% sure in stock market. Consult your financial advisor before...
L&t Finance has formed nice INCORRECT wolf wave. I shout incorrect cause there are people who argue that its incorrect. Again what worsk what works. Long here Stoploss close below 177 target atleast 192. One can wait for the break of the resistance trend line.
Rules & Structure Of Wolfe Wave Pattern
To Identify Wolf Wave Patterns,
Waves 3-4 must stay within the channel created by 1-2
Wave 1-2 equals waves 3-4 (shows symmetry)
Wave 4 is within the channel created by waves 1-2
Wave 5 exceeds trendline created by waves 1 and 3
There Should be regular time between all waves
How To Trade.
Entry point When Price Close...
The Stock has shown a zig zag ABC correction on 60 min charts with 5-3-5 legs of ABC which is generally the end of a longer leg. The C wave has given its 5th leg and in my opinion, it is completed. A trade to go long with 69.40 as a stop-loss and 79 and 81 as targets give a risk/reward at 1:4 and 1:5 respectively. CAUTION ADVISED, STOPLOSS IS YOUR GOD AND YOU ARE...
Medium and short degree counts suggest some downside for bank of india.
Longer degree counts might disagree.
Never the less, it can be looked at for shorting opportunities in short term till the latest daily chart swing high is protected.
As full wave pattern looks completed in Gold and reversal is also observed, Gold is ready to go beyond 1300$ very soon. Wait for on correction in the zone of 1205 to 1212. buy Gold there with SL of 1203 for the target over 1300$ soon.
This is not trade setup itself, its just an idea shared here on Biocon on potential scenario of shorts. I'm not sure about end of wave 4, as I don't have patience for sub-waves & there is no bearish reversal as of now. So either you can do subwaves & predict wave 4 end, if you don't know elliott's don't worry, just apply whatever strategy you use over Biocon &...
The candles forming up in near future will decide fate of Mindtree as we are closer to trendline, if it fiddles with the line & turnsback, we are out of luck. I hope all other things explained in chart, if any other specific queries, feel free to drop a line...