EWT: NSE United Spirits Multiple Time frame studies
Mis à jour
United Spirits has started wave cycle from 85.20.
Wave ((1)):
Wave ((1)) is an impulse pattern that occurred in 201.
Wave ((2)):
Wave ((2)) is a zigzag pattern that occurred at 95.55.
Wave ((2)) retraced 100% of wave ((1)).
Rule 1: Wave ((2)) can never overlap the starting point of wave ((1)).
Wave ((3)):
Wave ((3)) is an impulse with extensive nature 3.618% of wave ((1)) occurred at 816.
Rule 2: Wave ((3)) can never be the shortest impulse wave.
Wave ((4)):
Wave ((4)) is a triangle pattern with a five-wave structure retraced 50% of the wave ((3)).
A: 594
B: 801
C: 438
D: 742
E: 442 (terminating wave)
Price surged after the breakout of the B_D trendline.
Rule 3: wave 4 can never enter the price territory of wave 1
Wave ((5)):
Currently, price is forming an impulsive wave ((5)). Wave ((5)) has retraced 161.8% reverse Fibonacci of wave ((4)), which is the most acceptable retracement for wave ((5)).
Let's check the Fibonacci extension of the wave.
Wave ((4)) extended 78.6% of wave ((1)) through ((3)) at 1020, and the price had made a high of 1019. It is also an ideal level for wave ((5)).
We still have a 100% Fibonacci extension level for wave ((5)). Our next step is to analyze the lower time frame chart and study the sub-wave behavior of waves ((5)).
I am working on the lower timeframe, and I will update it here.
It will remove your confusion.
Thank You :)
Note
Time frame: DailySub-wave cycle of wave ((5)) starts from 442.65.
Price accomplished a corrective wave ((iv)), and price surged rapidly.
Wave ((iv)) is a double zigzag that contains seven waves.
If the price fails to break wave (x), Traders can sell for the following targets: 989 - 864 - 811. (U-turn levels).
Wave X holds most of the power of the impulse. If the price is capable to sustains above wave X, traders can expect the following targets: 974 - 1020- 1178+. Traders can enter at the 50% level of the current price move.
Note: trend never establishes without confirmation from wave (X).
Note
Trade fermée: cible de profit atteinte
TP 1 989 TP 2 864
Publications connexes
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.