Correction ahead
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As shown in the chart now 4 th wave is in progress.
But the uptrend should continue after the 4 th wave is completed.
it has now retraced 23.6 percent of 3 rd wave.
normally 4th wave retraces 38.6 percent of 3 rd wave.
In some cases when 3 rs wave is extended it can only retrace 23.6 percent of
of 3 rd wave.As per guide line of elliot wave 4th wave typically
retraces to within the span of the previous 4th wave of a lesser degree.
so it is too early to conclude where this 4 th wave will end.
we have extended 3 rd wave and at 23.6 percent level.
38.6 percent still lying at 22006.And 4 th wave of precceding 3 rd wave is just above 20934.
So it is too early to know to which level this 4 th wave will travel.
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But the uptrend should continue after the 4 th wave is completed.
it has now retraced 23.6 percent of 3 rd wave.
normally 4th wave retraces 38.6 percent of 3 rd wave.
In some cases when 3 rs wave is extended it can only retrace 23.6 percent of
of 3 rd wave.As per guide line of elliot wave 4th wave typically
retraces to within the span of the previous 4th wave of a lesser degree.
so it is too early to conclude where this 4 th wave will end.
we have extended 3 rd wave and at 23.6 percent level.
38.6 percent still lying at 22006.And 4 th wave of precceding 3 rd wave is just above 20934.
So it is too early to know to which level this 4 th wave will travel.
If this post helps you like it.
follow me to get updates
Transaction en cours
Note
Diogonal formation in nifty..lower low and now lower high.
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