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MCX Nickel is following the above uptrend channel from 23 Jan 2020. And making a good trade opportunity for commodity traders. Nickel's upward trend is not over yet. But we may see a downfall below the control price, and it can be up to 1686 - 1620 . But what happens if it breaks the control price? It's a 100% sign for a buy signal. But intraday or...

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Did you read the 26 Jan 2021 article on Gold? Article: Don't Get Yourself Into a Bull Trap With MCX Gold Wherein I have highlighted a strong resistance (SR) which is 49280 . It has broken down on 14 Feb 2022. That indicates the MCX gold uptrend is unfolding here. If it consecutively remains above the SR, we will see the gold price above 51160 - 51740 . The...

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Targets: Traders can initiate short positions for the following targets: 2400 - 2376 - 2301 - 2279 BUT DON'T TRADE BLINDLY . Read this following research to get how it is making selling opportunities for the intraday traders. PEL is forming a double combination pattern on the 4-hour timeframe chart. Price has constructed LL(lower-low) and LH(lower-high) to...

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Asian paints had corrected more than 16% in just a month . After 101 days, the price is back to the strong support zone. Price has made a kangaroo tail/hammer candlestick pattern on the support zone. 200EMA is also near to price. Wave principle is also giving a similar explanation. There are three confirmations to find the ending point of wave four. 1. Price...

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We can count waves using traditional patterns like Head and shoulders, Double Top and Bottom, Triangle, cup & handle, etc. This article is about how you can count waves by identifying chart patterns. I have covered Three chart patterns in this article, 1) Triangles 2) Head and shoulders 3) Double Top and Bottom 1) Head and shoulders : In addition, the two lows...

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It looks like mother Sumi has completed the 4th wave correction, and the ending point of the corrective wave (4) is the starting point of wave (5). Wave (4) is occurring in double three corrections. A "double three" consists of two corrective patterns, the first labeled W, and the second label Y, separated by a corrective pattern on the opposite side, which is...

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Elliott Wave background In the 1930s, R.N Elliott identified the price of the stock trends and reversed a specific pattern. This pattern is repetitive in form and, the patterns have predictive value. He decided to use this pattern (Elliott wave theory) to predict the market. The Elliott wave is not primarily a trading system. It is a detailed description of...

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TCS is forming an ending diagonal in sub-wave 5 of wave((5)). Price is about to complete the last move of the ending diagonal. It has created sub-waves 'i' and 'ii' of wave 5. The trader can initiate a long position for wave 'iii' after the breakout of wave 'i'. Rule of invalidation : wave 'ii' can never overlap the starting point of wave 'i'. The best way to...

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Crude oil is forming impulsive waves ((5)). After the completion of wave ((3)), the price had started complex running flat of the corrective wave ((4)). Wave B has crossed the high of wave ((3)), but wave B couldn't break the low of wave A. Price has made a failure of swing low, which was a rejection of a downtrend, and crude oil gained momentum. Price has...

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After creating the low of 17836 , we have seen a price surge to 17623. Nifty again reached the pivot zone 17621. If nifty sustains above 17621 , traders can buy for the following targets 17680-17765-17841+. Also, a price above 50 EMA indicates the presence of bulls in the current juncture. Please note that the rejection of the pivot zone indicates that the...

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ACE construction is forming a contracting triangle of waves ((4)). To draw parallel lines, I have connected wave ((2)) & wave ((4)) and merged with wave ((3)). Wave ((1)) - Five wave impulse wave ((2)) - Sharp correction - 50% retracement of wave ((1)) Wave ((3)) - Five wave impulse - Power extend Wave ((4)) - Contracting triangle - sideways...

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Price Action Perspective: Price is creating a value area where supply and demand are equal. The control line of the value area has provided eight price touches to confirm the price move, and it has provided five reversals. In this view, Nifty is on the control line of the value area at 17615 . Price has drawn a doji candle on the control line. There are seven...

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Nifty is occurring a corrective wave ((iv)) on the hourly timeframe chart. It has broken the previous corrective (iv) of a lower degree and price fall to 17377 . The bullish scenario is valid till the price is above 17150 . According to the Elliott wave principle, wave ((iv)) can never enter the price territory of wave ((i)). Wave ((iv)) has retraced 78.6% ,...

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Time-frame: Daily Research report: Elliott wave and sentiment analysis Wave ((1)) Price has started an impulsive structure on 24 March 2020 . It has exceeded the supply pressure by creating demand. Wave ((1)) formed as a leading diagonal because there was the existence of seller and supply pressure. All the fundamentals were bearish before this move....

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-------------------------------------------------------------------------------------------- Timeframe: 1- Day Theory: Elliott Wave ------------------------------------------------------------------------------------------------ Click here to read research report 1:...

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JK Laxmi cement has accomplished impulsive wave ((3)) and has a complex correction of wave ((4)). After making a high of 816 , the price started forming a corrective channel for wave ((4)). It has made a low of 529.10 , and we can see a price surge to 630. However, the price reached the upper band of the channel, but it is facing dynamic resistance ...

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Preface APOLLOTYER is preparing for a bull run. After completion of the 3rd wave at 261.2. Price had started a corrective wave ((4)) and took 38 weeks to finish this structure. A trader can trade impulsive wave ((5)) to make a high confidence trade setup. Wave Formations and Fibonacci relationships: Wave ((1))is an impulse with a 5-3-5-3-5 wave structure....

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In my previous post, I have mentioned that nifty can make an upward move before making the last leg. Nifty was at 16999 , and it has made a high of 17400 on 31st December 2021. Nifty is out of the channel and near to the previous lower high. If nifty breaks up 17639 , we can expect a big upward move for 18210 , which indicates that correction is...