Hi, we still have a 5th wave of impulse of X-wave pending on daily chart, It will reverse from 108 to complete the final wave. Then it will start Y-wave to correct major 3rd wave impulse on weekly chart. Just watch and enter, this is only my thoughts for this index.
TheChartistTechnic
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@mohammedalishaik1, I am guessing the analysis will hold if we come back below 109.00. Right?
mohammedalishaik1
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@TheChartistTechnic, it almost completed 5th wave, now it will start Y wave correction until 100 for this month and next month I believe. Wait for London session or US session for short.
TheChartistTechnic
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@mohammedalishaik1, I would watch the US session mostly for reversal. Its Notorious for reversing US after inducing people in London Session. It's a wait and see. Its still early in the month.
Any resources on the wave count you can recomend. Good source. Wave count has always been a headache.
mohammedalishaik1
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@TheChartistTechnic, Just have a rough idea of Elliot wave on daily, weekly and monthly chart for directions and use trendline rules for entries and choose and stick to either 1H or 4H chart. You have only 1 or 2 solids trade opportunities in a week. If you don't know trendline rules then you may watch Thomas wade videos on YouTube. Take care, bye.