Elliot Wave reading-
Indigo, has been range bound for last 6 months from a level of 5038, where wave-3 was completed, and then corrective wave -4 completed at 3960 levels.
Motive wave-5 is in formation, Probable Targets of wave-5 as per Elliot wave are:
• 0.618 extension of wave -1 @ 4626 (which has already breached)
• Wave-5 may travel same distance as wave-1 @ 5038
Harmonic Pattern Reading:
Butterfly wave pattern (XABCD)was in formation, The 0.786 (actual 0.764) retracement of the XA leg is the most important ratio and gives the confirmation of Pattern. Which gives us point B at 4739 level.
The Multiple Potential Possible PRZ ( Point D) are
• 1.618 Retracement of BC at 5232.5
• 2.618 Retracement of BC at 6026.33
Strategy for Agressive Traders
Option-1: Entry @ Confirm Breakout: Closing above 4800;
Stop Loss: Closing below 4730
Target -1: 5035 (As per Elliot); Book 25% profit
Target-2: 5235.5 (as per harmonic pattern) book profit
Aggressive traders can carry forward 25% of position, with trailing stop loss (low of previous day) for a target of 6026.33
Option- 2:
• Entry at 4371-4400
• Stop Loss: 4167
• Target-1: 4739
• Target-2: 5035
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Indigo, has been range bound for last 6 months from a level of 5038, where wave-3 was completed, and then corrective wave -4 completed at 3960 levels.
- Wave-1 completed at 2745.10
- Wave-2 Completed at 2333.35
Motive wave-5 is in formation, Probable Targets of wave-5 as per Elliot wave are:
• 0.618 extension of wave -1 @ 4626 (which has already breached)
• Wave-5 may travel same distance as wave-1 @ 5038
Harmonic Pattern Reading:
Butterfly wave pattern (XABCD)was in formation, The 0.786 (actual 0.764) retracement of the XA leg is the most important ratio and gives the confirmation of Pattern. Which gives us point B at 4739 level.
The Multiple Potential Possible PRZ ( Point D) are
• 1.618 Retracement of BC at 5232.5
• 2.618 Retracement of BC at 6026.33
Strategy for Agressive Traders
Option-1: Entry @ Confirm Breakout: Closing above 4800;
Stop Loss: Closing below 4730
Target -1: 5035 (As per Elliot); Book 25% profit
Target-2: 5235.5 (as per harmonic pattern) book profit
Aggressive traders can carry forward 25% of position, with trailing stop loss (low of previous day) for a target of 6026.33
Option- 2:
• Entry at 4371-4400
• Stop Loss: 4167
• Target-1: 4739
• Target-2: 5035
✅For More Trading Ideas, LIKE SHARE & FOLLOW My Idea Stream✅
Nota
Target-1 Met,Target -1: 5035 (As per Elliot); Book 25% profit
Nota
Stop loss must be modified to 4730
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Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.