Preferred EW counts are marked in Green.
Current waves might be of irregular correction having completed A at 404.75 and B at 425.40. To know the probable end of wave C or wave 2, follow retrace for the rise from 332 to 424.80.
50%: 378.40; 61.8%: 367.45; 80%: 350.55
Alternate EW counts are marked in Red.
This counts are of bullish and considering that wave 5 is sub-dividing.
If wave i ended at 424.80 from 398.85, then probable end of wave iii could be 1.618*wave i => 446+
Patterns:
1. In 60 Mins chart, IHNS pattern can be observed.
Breakout above 425.40, T1: 432.70; T2: 456; keeping SL at 418.00 post break out.
2. Prices are trading in rectangle in range 425-418.
Buy above 425, target 432, SL 421.50
Sell Below 418, target 411, SL 421.50
Current waves might be of irregular correction having completed A at 404.75 and B at 425.40. To know the probable end of wave C or wave 2, follow retrace for the rise from 332 to 424.80.
50%: 378.40; 61.8%: 367.45; 80%: 350.55
Alternate EW counts are marked in Red.
This counts are of bullish and considering that wave 5 is sub-dividing.
If wave i ended at 424.80 from 398.85, then probable end of wave iii could be 1.618*wave i => 446+
Patterns:
1. In 60 Mins chart, IHNS pattern can be observed.
Breakout above 425.40, T1: 432.70; T2: 456; keeping SL at 418.00 post break out.
2. Prices are trading in rectangle in range 425-418.
Buy above 425, target 432, SL 421.50
Sell Below 418, target 411, SL 421.50
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