This could play out because both Daily RSI and Daily MACD are still positive alter the recent pullback. I expect a retrace to 50% FIB or more before the final Wave 3 pullback.
Potential H&S pattern forming on BankNifty. Enjoy the ride up and down the right shoulder
A Potential H&S Pattern is forming on 60 Min NIFTY50 Expect the long and short rides as the Right Shoulder is formed. S&P500 is also exhibiting a similar pattern on the 60min chart.
Short term Bullish on NIFTY. NIFTY retrace has been short of 50% Fib. S&P500 has retraced 61.2% - A typical retrace is between 50% or above. Expecting: 1. The retrace to complete 50% of the current fall. 2. Fill a higher gap from a previous retrace attempt. 3. Daily MACD remains positive.
SPX has been in an expanding triangle since 2012. The current downslide will find support on the lower trend line.
A perfect ascending triangle has been created on 1hr. SPY. Expecting a downward move.