Downtrend - S/L 0,76250, T/P 0.71500
SPX rallied strongly in what looked like a giant short squeeze and broke the green line (see previous idea). Also spiked above the melt-up channel. So that only leaves 1 bear option and one bull. After the spike above the melt-up channel, it reversed strongly and now broke below it. Which is a bearish reversal, in my view. Lows at red "or 3/C" should be taken out...
The picture is still bearish following the Brexit crash, but lots of options on the table as of now. We have 3 waves into the lows, so the bullish option is that a simple a-b-c correction finished at the lows and now we should go up (I see this as the underdog as of now). 2 bearish options open now: - most bearish is a bear nest - a series of 1-2 waves which 3...
Bought a call option at the bottom on wave 2. Buying options for this trade to expire at the end of the week because this isn't a fast moving pair, none the less I think this is to rise up to 82.00 ish
hi Readers, The Chart deals with weekly time Frame As we now Know that the wave Y in Grand Super Cycle degree & hence the initiation of X wave after Y has pushed it to new highs, say to the current levels. The important idea is that the W within the current X wave in one lesser degree has been progressing as w,x,y,x & z within which waves W,X & Y are completed....
Simple Elliot wave formation and we can clearly see that Wave C is yet to form The trendline marked offers strong support to price and if its broken a good downward move is possible in HCL Technologies Limited. Can bounce up on trendline touch so watch closely. Check your stops and targets before entering the Trade. For, Instant chart/Trade Idea updates...
Chart shows that the price is on its way to completing the third wave up. Sell the third wave down.