Wave Analysis : Long Term View : Exide Industries : 4th Wave : C Wave Looking at chart looks like price in 4th wave completed b wave and c wave is going on which can be expected till 180-190 area. After completing wave c we can last rise in the price around 324 - 350 max which very extended 5th waves and then sharp decline can been seen in the price in the...
Its seems like abc pattern going on in nifty. wave a seems to be completed and now wave b is in progress. next halt might be around 10500 and some pull back can be expected, need to wait and see what pattern shows up in coming days. There is no idea of time line so please ignore timing of the market, just trying to fit abc pattern in the current market...
Price is rejecting 61.8% for a while, it will be good trade to go short till 100% projection.
S&P500 - Elliot Wave. Most possible wave count, i could judge and come up with. This is not a trading recommendation, just need to see analytical skills for wave theory.
Formation of H&S can be seen on weekly chart, price is awaiting for brexit. Previously H&S was formed on daily chart and target was achieved.
Pattern is showing to go long with strict stoploss and Risk:Reward seems good in this setup. Aiming for 100% fib extension, And from there looking for shorting opportunity.
I'm anticipating this move prior any signal of reversal, I might be wrong since last candle have strong downside movement. And there is no sign of reversal yet. Considering Brexit, Head and shoulder pattern can be formed if we can see more strength in GBP or more weakness in INR in coming days. Which will help to complete this pattern and great setup to trade...
Following progression of price can be observe in coming days. There is a opportunity of about 1200 - 1800 pips in coming days ***** I am new to Elliott Wave, and starting my new journey with Glenn Neely's book *****
Maybe this progression can be expected. I m newbie, so don't expect this to happen. :p