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Priyal_Patil
Aug 23, 2016 2:43 PM

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

Nifty 50 IndexNSE

Description

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.

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Comments
uttamtrader15
Is there a change in wave counts...plz clarify?
Priyal_Patil
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.
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