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)
uttamtrader15
⋅
Thanks is it possibile to show possibility 2 by a diagram?
uttamtrader15
⋅
What possibility is nifty doing any clarity?
Priyal_Patil
⋅
same as posted in the abv. chart. (triangle in Z has completed)
uttamtrader15
⋅
Priyal how far can wave e of Z go upto...? does it finish below wave c ?
Priyal_Patil
⋅
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.