Hi All this analysis is on elliott wave and Neowave.
At very higher time frame market is making Limiting expanding triangle( expanding triangle
consist of 5 sub waves which are 3-3-3-3-3(A-B-C-D-E) we are in now E structure as E structure is not yet completed it need to break B and D trendline to confirm the expanding triangle, Now market is in the direction of E wave to confirm expanding triangle. this trade is basically on the basis of E wave as E wave itself contain multiple Zig Zag structures( 5-3-5) and than form X as supportive wave this will lead to form double ziz zag to complete E wave example- ABC-X-ABC(5-3-5-X-5-3-5) .
Trade setup:=
Sell below-74286
Target-72606
Stop loss:-74814
This analysis is only for educational purposes, i am not a financial advisor please get in touch with your advisor to take any buy/sell trade in any liquidate market.
At very higher time frame market is making Limiting expanding triangle( expanding triangle
consist of 5 sub waves which are 3-3-3-3-3(A-B-C-D-E) we are in now E structure as E structure is not yet completed it need to break B and D trendline to confirm the expanding triangle, Now market is in the direction of E wave to confirm expanding triangle. this trade is basically on the basis of E wave as E wave itself contain multiple Zig Zag structures( 5-3-5) and than form X as supportive wave this will lead to form double ziz zag to complete E wave example- ABC-X-ABC(5-3-5-X-5-3-5) .
Trade setup:=
Sell below-74286
Target-72606
Stop loss:-74814
This analysis is only for educational purposes, i am not a financial advisor please get in touch with your advisor to take any buy/sell trade in any liquidate market.