It is been observed that ABC Zig Zag correction completed and Wave 1 and Wave 2 structured well that shows higher high. Now I observe that Wave 3 is in progress and it shall go upto 261 and retrace back to Wave 4 and then shall again move higher from 261 levels to make Wave 5. It is wise to buy after retracement or near Wave 4 levels.
As per technical pattern formation, you may also notice a "Head n Shoulder" pattern formation that retrace back to previous resistance level at 256 or Wave 4.
As per technical pattern formation, you may also notice a "Head n Shoulder" pattern formation that retrace back to previous resistance level at 256 or Wave 4.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.