Short trade as per elliott wave and NeowaveHi All this analysis is on elliott wave and Neowave.
At very higher time frame market is making Limiting expanding triangle( expanding triangle
consist of 5 sub waves which are 3-3-3-3-3(A-B-C-D-E) we are in now E structure as E structure is not yet completed it need to break B and D trendline to confirm the expanding triangle, Now market is in the direction of E wave to confirm expanding triangle. this trade is basically on the basis of E wave as E wave itself contain multiple Zig Zag structures( 5-3-5) and than form X as supportive wave this will lead to form double ziz zag to complete E wave example- ABC-X-ABC(5-3-5-X-5-3-5) .
Trade setup:=
Sell below-74286
Target-72606
Stop loss:-74814
This analysis is only for educational purposes, i am not a financial advisor please get in touch with your advisor to take any buy/sell trade in any liquidate market.
