Elliott Wave Theory

[1sandeepgupta]

Weakness in rupee is depicted in the weekly chart. The usdinr is heading to complete the intermediate wave (5) or primary wave [3].

or

The alternative case scenario is that (4)th wave corrects further but that does not seem probable.

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

 

[1sandeepgupta]

Crude_oil wti is forming Elliott's double three correction pattern. One wave (w) has completed and the wave (A) of the other wave (Y) is near finishing. Now wave (B) will start. The price will soon reverse.

After some signs of the reversal, this may present good buy opportunity with great risk reward ratio.

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

 

[timepass]

Crude_oil wti is forming Elliott's double three correction pattern. One wave (w) has completed and the wave (A) of the other wave (Y) is near finishing. Now wave (B) will start. The price will soon reverse.

After some signs of the reversal, this may present good buy opportunity with great risk reward ratio.

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

A non-technical observation - crude generally has a good winter..

 

[1sandeepgupta]

Starting from August 2013, we are in 5th wave and it's two price points are 1692 and 1862 where it can end. An extended target can be 2139.

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

 

[prabhsingh]

In continuation to above ICICIBank chart,find below Elliot Wave count for ICICI on hourly time frame and zoomed in EW progressive and tentative count for 5th wave.

 

[1sandeepgupta]

Daily chart of Yes Bank is attached here with. Price is in 5th wave, the 5th wave can expend to either 658, 735 or 858. Ifone is not in the trade already then it is not good time to enter. Once 658 is broken then one can go long for the target 735.

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

 

[prabhsingh]

In case of YesBank,Wave 4 does not seems to be obeying any Fib ratio.

 

[1sandeepgupta]

Yes that is true.

 

[1sandeepgupta]

It seems that the correction of intermediate wave (1) has completed. The wave (2) corrected to 38.2% of wave (1). The wave (3) seems to have started. One can buy into this wave at levels 495.90, one rupee above the pivot with stop loss at 434.60 and the minimum target to 574.

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

 

[1sandeepgupta]

The third wave is extended one so the possibility is that the W(5) is equal to W(1) as it is seen that only one wave is extended in one impulse out of three.

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