About meHonestly Speaking, I come from the web development field. Since I was studying in class 10th since then I have started my own trading and the fractures of the days within me have been developed since time immemorial.
The price is progressing into Wave 3 upside.
If you are a newbie for technical analysis, this research is not a post for you. especially for those who want to trade, I will create a complete report with trading level by using a lower Timeframe shortly.
Weekly/2000-8 - EW cycle completed.
W4 divides the entire price range...
I've already entered in long at 368 with an alert on 29 Jan 2021. I hope that you will get entry-level as mentioned on the chart at wave 2 retracement of wave 1 but I don't suggest holding position if the price falls 375 below.
This setup has higher risk and rewards 1:6 or 1:8 because of wave (3).
Check out the long-term chart....
How do you determine the end of the Throw-over(under)?
The price is upper trendline & recent volume is declining which is an indication that the End of The wave will meet .
But this chart has not volume data cause of spot nifty. You can check out volume changing into future nifty.
Let's try to look closely sub-wave of Primary Rounded donated 1 W.
The price is finding the number of 4rth waves to stop and will travel for the 5th wave which exists at 388 nearby(38.2% retracement) or 360-378.
Let's assume that the 5th wave still remains then, the target should in the step by the previous important level as 468/488/506.
In the previous posted idea, I've outlined about the Break-Out of parallel channel and New High. The price is 14623 which is little far from ATH(All-Time-High 14653).
I hope that you could understand what am I writing in my idea. If you could have got me, Profit can be 185 points calculated from breakout.
Thank you all who always support me.
Focusing on the entire range of the PRZ(14100-14188) . However, the price falling, therefore our next target 2AB = CD 14188 and BC projection 14128.
Short sellers should be very careful at Potential Reversal Zone if the tail is detec ted.
I hope that you have checked out my previous nifty...