AJAYSHARMA

AJAYSHARMA

Its is above the cloud but span A and B are flat . As per Elliott wave trend channel is along the cloud. It seems to be a wave 4 correction. If trend channel along with the cloud are breached it may be a long flat correction down . Use Price action to trade it. Regards.

AJAYSHARMA

The correction should not breach the red channel downwards . This should be the end of correction . Regards

AJAYSHARMA

As long as price remains below the Ichimoku forecast lines we my be running a B Elliott wave . If the forecast lines are crossed up then a more aggressive Elliot wave count will come into play . Regards

AJAYSHARMA

Wait for the breach of BD line. The upmove will be gargantuous. Regards

AJAYSHARMA

Major corrective action is unfolding .

AJAYSHARMA

Take span B as the center line for trades in this pair

AJAYSHARMA

Its in the chart

AJAYSHARMA

explained in the chart

AJAYSHARMA

explained in the chart

AJAYSHARMA

Is this an impulse or a corrective structure ? Please give logic for the either .

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