LALPATHLAB - EW & Technical Classical 4th wave on Channel Setup
CMP: 3095
While combining EW with technical patterns, the general guideline is that
Wave 3 must breakout above the 0-1-2 channel
Wave 4 must take support at the 0-1-2 channel top or at the midpoint
In this chart, price complied both the technical requirements for wave 3 (breakout and runaway).. and then retest the channel top to complete the 4th.
More details on trade set up for this script is described in a separate analysis..
Sharing this as a new post to help understand how EW and Technical patterns work together
While combining EW with technical patterns, the general guideline is that
Wave 3 must breakout above the 0-1-2 channel
Wave 4 must take support at the 0-1-2 channel top or at the midpoint
In this chart, price complied both the technical requirements for wave 3 (breakout and runaway).. and then retest the channel top to complete the 4th.
More details on trade set up for this script is described in a separate analysis..
Sharing this as a new post to help understand how EW and Technical patterns work together
Transaction en cours
Looks like the price would make one more low between 2800-2700.. Since this is the 5th wave, we never know where will it end.. better to wait and watch for reversal at the previous resistance/breakout zone of 2700 levels
Trade fermée: cible de profit atteinte
2800 done.. trade closed
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.