Priyal_Patil
Short

Complex e-wave (Nifty on its verge of collapse)

NSE:NIFTY   Nifty 50 Index
Internal z-wave looks like forming a triangle.
Look for sharp reversal after completion of z-pattern.
Comment:
Comment: ^^^Update for the z-pattern count.
Comment:
Is there a change in wave counts...plz clarify?
Reply
Priyal_Patil uttamtrader15
e-wave has broken the upper trend line..
1st possibility: Bear Impulse after this wave immediately. (Less likely)
2nd possibility: Diametric pattern OR A Neutral or expanding triangle is in formation)
Reply
uttamtrader15 Priyal_Patil
Thanks is it possibile to show possibility 2 by a diagram?
Reply
What possibility is nifty doing any clarity?
Reply
Priyal_Patil uttamtrader15
same as posted in the abv. chart. (triangle in Z has completed)
Reply
Priyal how far can wave e of Z go upto...? does it finish below wave c ?
Reply
Priyal_Patil uttamtrader15
There are few other possibilities too. (i.e. that e-wave can be counted as c-wave of a flat and could go higher)
But it looks very less likely to go higher..
In this case, only focus on a "faster retracement" of that internal e-wave without thinking of how far it can go.
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