CURRENT STAGE:SECOND CORRECTION WAVE Y SUB WAVE B.
THIS WAVE B BOUNCE HAS POSSIBILITY OF TERMINATING BETWEEN 14650-14830 AS THERE IS GAP IN THIS ZONE,HOWEVER WAVE B TERMINATION POINT DEPENDS UPON THE FORM OF CORRECTION WHICH IS UNCLEAR.IRRESPECTIVE OF TILL WHERE THIS BOUNCE WILL CONTINUE,ONE SHOULD USE THIS BOUNCE FOR EXITING LONGS AS IT WILL BE FOLLOWED BY WAVE C DECLINE.
SHORTS CAN BE INITIATED ONCE PRICE FORMS BEARISH CANDLE STICK AROUND FOLLOWING LEVELS. 14616 14703 14826 14910.
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Hello Dear, Since its a bull market and c wave of W has been shown as ED from high of 15335 then after completing C wave of W at 14265 , nifty should have pulled back to 15331 in a fast move. But it did only 61% retracement and that also slowly. It mean fall from 15335 to to 14265 was a Y wave which in itself was a wxyxz.
UNDERDOG-29
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@saraltanwar, hello...thanks for the feedback.actually i did labelled it as wave y in my previous post's but then it didnt made sense hence i tried labelling it in the current form as most of the rules apart from that you mentioned was getting followed.And it i label 15335 to 14265 move to be wave y (3-3-5)than sub wave 5 does not divide in 5 waves.i am just a beginner at applying EWT hence i might have missed something because i have only learned it from whatever stuff that;s available online for free.so let me know your view on the possibility that i mentioned.also it would be very helpfull if you can share some knowledge with regards to labelling degress
UNDERDOG-29
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@saraltanwar, i often get confused when it comes to labelling wxy,as some material shows even 3-3-5 stucture can be labelled as wxy and some show's wxy is double correction meaning it will have 3-3-5/5-3-5(wave w),3-3-3(wave x),3-3-5/5-3-5(wave y)