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Ashokleybuy

{ASHOK LEYLAND}:[{USING ELLIOT WAVE NOMENCLATURE}] WAVE 1 : Wave 1 can be either a 5 Wave Sequence structure or a 3 Wave Sequence structure as well, but a 3 Wave Sequence comprises of two 5 Wave Impulse structure hence when Wave 1 is a 3 Wave Impulse WAVE 3 is supposedly way bigger than WAVE 1.(In the above pic also we see WAVE 1 is a 3 Wave Impulse structure.) Let's Move to WAVE 2 . . . WAVE 2 : Wave 2 and or Wave 4 both are formed in one timeframe lower to the timeframe in which Impulse is formed, as correction structures have less volume than the Impulses hence we can have a clearer picture in one timeframe lower to the one in which Impulse is formed. Similarly we have a 3 Wave Correction structure in 3 Months chart which defines WAVE 2 a simple correction structure. Wave 2 is typically 50%, 61.8%, 76.4%, or 85.4% of wave 1.(When we have a 3 Wave Impulse in Wave 1 it shoots from 50% due to more power as there is a double Impulse) WAVE 3 : Wave 3 is what brings us all to the table; the wave every trader wants to surf . . . Here's ur chance, We have checked that Price has retraced 50% of the Wave 1 as per Fibonacci Retracement tool. Similarly we can find out the Target of Wave 3 using Fibonacci Extension tool as follows.
NSE:ASHOKLEYLong
by WavesandZones
ASHOK LEYLAND WEDGE PATTERNHello Welcome to this analysis about ASHOK LEYLAND , we are looking at daily timeframe perspectives. ASHOK LEYLAND is developing here that will be a decisive factor in the upcoming times. I discovered the main formation ASHOK LEYLAND is developing here that will be a decisive factor in the upcoming times. As when looking at my chart now we can watch there how ASHOK LEYLAND has emerged with this key WEDGE PATTERN marked in my chart with boundaries. which is an important resistance and also psychological resistance-mark together with the lower-boundary of the WEDGE PATTERN In this manner, thank you for watching my update-analysis about ASHOK LEYLAND and its major WEDGE PATTERN with the determining factors we need to consider in upcoming times, support the analysis with a like and follow or comment for more market insight!
NSE:ASHOKLEYShort
by shanechart