Elliott Wave Theory

[1sandeepgupta]

I am posting monthly chart of KRBL to understand it's structure.

In daily chart, It has completed intermediate wave (3) and correcting in wave (4), it seems that the correction is over as it has completed double three pattern, if it further goes in side ways then it will be in triple three pattern. Let us see what happens?

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[adityasaraf007]

Hi Sandeepji,

Looks like you are doing some fantastic work over here... The best part is you select one/two securities everyday and carry out your analysis based on different time frames..

Keep it up and continue the good work..

 

[superprogrammer]

How about crude oil?

Also, in Elliot wave theory, what parameters you take into account? Price/Volume/etc ?

 

[1sandeepgupta]

How about crude oil?

Also, in Elliot wave theory, what parameters you take into account? Price/Volume/etc ?

Crude oil analysis on monthly chart is in post #220 in the same thread. In Elliott wave theory we only consider price and the patterns it forms. There is mainly two considerations if the price is in impulsive pattern or in correction pattern.

 

[TRADERSM]

HELLO FRIENDS i am new to trading just like a baby i hear something abt elliottwave analysis its worth or not becoz i dont know please help me from basic i read "visual guide to elliott wave analysis" & "five waves to financial freedom" but i can't understand

 

[niftyninjatrader]

What are your conclusions about Banknifty ?

According to the charts, it should correct but to be certain one should wait for two or three trading sessions.

Sandipji,
Instead of a correction, BankNifty is moving the other way and still looking bullish.
Is there any revision in the counts. Please update by posting EWcounts on daily chart.
Thanks

 

[niftyninjatrader]

I am posting weekly chart of nifty to understand it's structure.

On daily chart, it seems that the correction is not over yet. It may correct to 7823 level.

Disclaimer: This and all the ideas I present are for educational purpose only.

Sandipji
Similarly for NIFTY.
Instead of a correction, NIFTY is also moving the other way and looks bullish
Is there any revision in the counts. Please update by posting EWcounts on daily chart.
Thanks and Regards

 

[durgesh]

Here is an EW Count on hourly chart from GCI platform and it looks like data of continuous futures. Can anybody confirm that ?

 

[Somatung]

Here is an EW Count on hourly chart from GCI platform and it looks like data of continuous futures. Can anybody confirm that ?

Not confirmed

 

[niftychartreader]

Here is an EW Count on hourly chart from GCI platform and it looks like data of continuous futures. Can anybody confirm that ?

You are right. The platform provides continuous futures but the data is not 100% similar to NSE. Normally/sometime there is a difference of few points (say 2-5 points) But for practical purpose, it is okay with it. However, you should use NSE data for accuracy.