Bank of Baroda trend intact on the higher degree it trades present time in Expended Diagonal, 1. The price had traveled 36-100. May 2020 to Feb 2021. The First cycle had completed in 5-3-5 . 2. The Second Cycle in progress it is 5-3-5-3 complete and the fifth wave is incomplete it may be five structures on a lower degree 3. Price maybe travels as 1.27% -103, 1.618% -110 for 3rd wave and if price correct for 4th wave and break 3rd wave structure for 5th wave 2.618% -130 it is the upper end of expanded Diagonal. 4. Price gives a valid breakout with high volume in the last trading session.
Disclaimer it is my personal research Before investment please advise your finance adviser it is only for educational purposes.
@meenaanita613 Don't you think the price around 25th to 29th June 21 and price between 23rd to 27th December makes the Elliott's wave theory invalid. Since, the wave 3-4 correction shouldn't be entering the territory of Wave 1. In this case it's taken a deep dive into 1st Wave territory!!
meenaanita613
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@Tron029, The price trading in Leading Diagonal if price cross @110 than weekly wave counting will be mention in the chart and 4th wave can be enter in wave 1st of Diagonal. I have already mention on higher degree price traded in expended diagonal
VivekGolchha
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But in the short run we can also term it as an Head & Shoulders pattern....
meenaanita613
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@VivekGolchha, Elliott Wave cover almost chart patterns.