The price moving towards the FIVE Wave in bulls market. NIFTY!
FIRST Wave: (Leading Diagonal Contracting)
In the first wave, we have detected the Leading Diagonal contracted within two yellow-colored covering lines but the leading diagonal occasionally appear in the first wave position of impulse. I have labeled by using roman numbers.
SECOND Wave: (The 50% Retraced)
Its a corrective wave formed A, B, and C. Its retraced 50% from the first wave and the price didn't carry to a new low.
THIRD Wave: (Impulsive and Extended)
This wave is strong and broad with the Extension moved. The subdivisions of an extended wave are nearly the same amplitude and duration as required.
FOUR-Wave used Technique : (of Channeling to determine Five Wave)
I've used here channeling technique for confirmation of four-Wave completed perfectly. In this case, suppose to the fourth wave ends at a point touching the parallel channel.
FIVE Wave: (Price is currently toward this wave)
I have connected the ends of waves two and four to determine the five-wave causing wave one and three is normal.
Moreover, for an accurate picture of the five-wave, we have to move 4hrs chart.
I will publish this very soon if I got enough supports from you all. Thank you.
You can check my previous research of Elliott wave for Bigger Picture as shown in the below chart:
In the first wave, we have detected the Leading Diagonal contracted within two yellow-colored covering lines but the leading diagonal occasionally appear in the first wave position of impulse. I have labeled by using roman numbers.
SECOND Wave: (The 50% Retraced)
Its a corrective wave formed A, B, and C. Its retraced 50% from the first wave and the price didn't carry to a new low.
THIRD Wave: (Impulsive and Extended)
This wave is strong and broad with the Extension moved. The subdivisions of an extended wave are nearly the same amplitude and duration as required.
FOUR-Wave used Technique : (of Channeling to determine Five Wave)
I've used here channeling technique for confirmation of four-Wave completed perfectly. In this case, suppose to the fourth wave ends at a point touching the parallel channel.
FIVE Wave: (Price is currently toward this wave)
I have connected the ends of waves two and four to determine the five-wave causing wave one and three is normal.
Moreover, for an accurate picture of the five-wave, we have to move 4hrs chart.
I will publish this very soon if I got enough supports from you all. Thank you.
You can check my previous research of Elliott wave for Bigger Picture as shown in the below chart:
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