AJAYSHARMA

AJAYSHARMA

Described in the chart

AJAYSHARMA

Elliott always said if one can draw a base channel that is the key to further movement in a stock . When price breaches above the upper boundary of the base channel then we know wave 3 has started . Regards

AJAYSHARMA

Described in the chart

AJAYSHARMA

This just to show the power of a base channel . Regards

AJAYSHARMA

Elliott wave Principle at its heart is a technique to draw correct trend lines . If drawn correctly the waves will always be in proportion and there will be lesser surprises. In the chart corrections in wave 4 are shown at different degrees of a trend . Since market is a fractal the same formula can be replicated at lesser and lesser degrees. Regards

AJAYSHARMA

It may just be an A wave of a multi month triangle. Short only when blue trend line has been broken.

AJAYSHARMA

The extremely bullish count comes after it has broken the red channel upwards . Otherwise its a normal impulse wave .

AJAYSHARMA

Explained in the chart Regards

AJAYSHARMA

Described in the chart

AJAYSHARMA

Explained in the chat

AJAYSHARMA

Described in the chart

AJAYSHARMA

Described in the chat

AJAYSHARMA

Weekly chart log scale

AJAYSHARMA

If alt count is applicable then a good buy zone would be .786 retracement (ie wave ii of the impulse) as wave (i) would be the longest wave in the impulse . So it will correct to the wave (ii) of the impulse 8059 . If main count is applicable then expect a new low .

AJAYSHARMA

Explained in the chart

AJAYSHARMA

Explained in the chart

AJAYSHARMA

Kindly see the chart . Only a part of the wave structure has been shown .

AJAYSHARMA

Explained in the chart Regards