Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
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Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
3 comments:
Hi Sir,
Thank you for the wonderful explanations. I have little query. As mentined in your last chart (Nifty 5 min), where you asserted ,the second fall should atleast target 3900 and more in case of impulse. May I know the bigger targets rather than the 3900 on the nifty , my pojections indicating towards 3570-3600 zone. will be highly greatful for the answer. Thank you once again.
-Satyam
Hi..Satyam,
If it is impulse, then this fall should be more than the 1st(say 1.618 times) targeting 3595.(4693 - 4146 = 547 x 1.618 = 885; 4480 - 885 = 3595).
We will monitor the sub waves to assess the extent possible as we go along..
Best regards.
ilango
Thank you so much for the explanation Sir. It's always a pleasure.
Satyam
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