#BANKNIFTY Short Term Positional View - Delta Update
#BANKNIFTY Short Term Positional View
What I posted last week?#1
Let me put a delta update on this:-
I see Ending Diagonal Triangle (ED) Pattern of Elliott Wave:- Ending Diagonal Triangle also called ED in short is one of the complex patterns of Elliott Wave Theory which is the part of the main proceeding trend. Many analysts and learners find it difficult to identify this pattern accurately because of ignorance or lack of knowledge about the rules and its inner wave calculations.
First and most important is to remember that the Ending Diagonal Triangle pattern occurs only in wave (5) of any impulse let it be a wave bigger wave (5) or inner wave (v) of any degree. So whenever you are observing something like ED, you need to make sure that there is wave (1), (2), (3) and (4) before the start of this pattern because ED cannot happen anywhere, it is always a wave (5).
Warning sign for the bull, be cautious on your long's until holds above 31,653.
#1View for Banknifty for next week and till Dec'2020:-
The analysis shows one primary trend:- Wave 4 is complete and wave 5 is in progress.
Apart from this, the chart shows two intermediate & two minor correction cycle (completed)
Wave 1 is from 20404.9 to 24,823.6 i.e 4418.7 point rally
Wave 5 probability factor:-
15% probability to wave 5 to touch 30,611 to 31,132 (32.2% to 50% ) - Done
30% probability to wave 5 to touch 31,653 to 32,413 (61.8% to 78%)
40% probability to wave 5 to touch 32,413 to 33,342 (78% to 100%)
15% probability to wave 5 to touch 33,342 to 36,072 (100% to 161.8%)
Stoploss for positional long is 29,900.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
What I posted last week?#1
Let me put a delta update on this:-
I see Ending Diagonal Triangle (ED) Pattern of Elliott Wave:- Ending Diagonal Triangle also called ED in short is one of the complex patterns of Elliott Wave Theory which is the part of the main proceeding trend. Many analysts and learners find it difficult to identify this pattern accurately because of ignorance or lack of knowledge about the rules and its inner wave calculations.
First and most important is to remember that the Ending Diagonal Triangle pattern occurs only in wave (5) of any impulse let it be a wave bigger wave (5) or inner wave (v) of any degree. So whenever you are observing something like ED, you need to make sure that there is wave (1), (2), (3) and (4) before the start of this pattern because ED cannot happen anywhere, it is always a wave (5).
Warning sign for the bull, be cautious on your long's until holds above 31,653.
#1View for Banknifty for next week and till Dec'2020:-
The analysis shows one primary trend:- Wave 4 is complete and wave 5 is in progress.
Apart from this, the chart shows two intermediate & two minor correction cycle (completed)
Wave 1 is from 20404.9 to 24,823.6 i.e 4418.7 point rally
Wave 5 probability factor:-
15% probability to wave 5 to touch 30,611 to 31,132 (32.2% to 50% ) - Done
30% probability to wave 5 to touch 31,653 to 32,413 (61.8% to 78%)
40% probability to wave 5 to touch 32,413 to 33,342 (78% to 100%)
15% probability to wave 5 to touch 33,342 to 36,072 (100% to 161.8%)
Stoploss for positional long is 29,900.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
