Top Tweets for #weekendChartSchool

6 days ago

#weekendChartSchool let us discuss the #nifty chart and its possibilities for coming week based on #elliottwave and #fibonacci levels . first of all focus on orange circle .: support of red trendline ., support of parallel channel ., golden ratio level 23630 of last rise . Details : https://t.co/H7CwMMMzED now there are two possibility. possibility 1 price is up for new impulse move indicated by green (1)(2)(3)(4)(5). if price holds the range of 23630 level and moves up from here onward , then we are going up towards blue trend-line after breaking last swing high of 24530. possibility 2 if we break the level of 23630 and fall further , then it is probable that we have not completed wave (c) of larger (B). to complete wave (B) price need to fall at least to the level of 23100 lets see how price moves in coming week. we are already facing pressure of crude oil price rise ! rest market is supreme . risk reward is the key #elliottwave #fibonacci

elliottlab618's tweet photo. #weekendChartSchool

let us discuss the #nifty chart and its possibilities for coming week based on #elliottwave and #fibonacci levels .

first of all focus on orange circle .: support of red trendline ., support of parallel channel ., golden ratio level 23630 of last rise . Details : https://t.co/H7CwMMMzED

now there are two possibility.

possibility 1

price is up for new impulse move indicated by green (1)(2)(3)(4)(5). if price holds the range of 23630 level and moves up from here onward , then we are going up towards blue trend-line after breaking last swing high of 24530.

possibility 2

if we break the level of 23630 and fall further , then it is probable that we have not completed wave (c) of larger (B). to complete wave (B) price need to fall at least to the level of 23100

lets see how price moves in coming week.
we are already facing pressure of crude oil price rise !
rest market is supreme .
risk reward is the key
#elliottwave #fibonacci

R N Elliott Lab

@elliottlab618

13 days ago

#weekendChartSchool let us discuss the #nifty chart and its possibilities for coming week on multiple time-frames based on #elliottwave and #fibonacci levels . first thing first . we are at a resistance of upper trend line as indicated and we are approaching golden ration retracement of last fall from 26273 to 22182 at 24770-800 range as indicated in the chart now lets discuss the possibility ! POSSIBILITY: 1 On daily time frame if it is ABC from the low of 22182. in this case wave A completed at 24601 and for wave B it retraced to 23072. currently we are in wave C . as we talked earlier that wave C is approaching upper trend line resistance as well as golden ratio of 24772. for further understanding lets breakdown to hourly time frame . in hourly time frame , as we all know that according to elliott wave theory wave C will always have 5 sub-wave . marking 5 sub-waves in on hourly chart , we can see that either wave 5 has completed at 24530 or one more high is pending to complete wave 5 as well as wave C. if the wave 5 has completed at 24530 the we may see a correction as indicated with red line , and if we have not yet completed wave 5 then one more high is pending which will coincide with golden ratio of 24770 range and then we will see a correction from that level as indicated by yellow line . POSSIBILITY: 2 if the correction ended at 22182 and we started a new impulse move then wave (1) ended at 24601 and wave 2 ended at 23072 . now we are currently in sub waves of wave (3). to break the wave (3) further lets move to hourly chart . in hourly chart case is similar as discussed in possibility 1 . either wave 3 is completed at 24530 or one more high is pending . after completing wave 5 price will retrace maximum to 23627 which is a golden ratio of last rise from 23072. one point to be noted is that the retracement cannot move below 23600-630 level if it is a bullish impulse move . PS :- Unless and until , price do not move below 23600 range with strong close , our primary preference will be possibility 2. once price breaks down 23600 range then only we will consider possibility 1 #elliottwave #fibonacci #niftybank #smallcap #midcap #market #index #stockmarket keep the chart clear and simple

elliottlab618's tweet photo. #weekendChartSchool

let us discuss the #nifty chart and its possibilities for coming week on multiple time-frames based on #elliottwave and #fibonacci levels .

first thing first . we are at a resistance of upper trend line as indicated and we are approaching golden ration retracement of last fall from 26273 to 22182 at 24770-800 range as indicated in the chart
now lets discuss the possibility !

POSSIBILITY: 1
On daily time frame if it is ABC from the low of 22182. in this case wave A completed at 24601 and for wave B it retraced to 23072. currently we are in wave C . as we talked earlier that wave C is approaching upper trend line resistance as well as golden ratio of 24772. for further understanding lets breakdown to hourly time frame .

in hourly time frame , as we all know that according to elliott wave theory wave C will always have 5 sub-wave . marking 5 sub-waves in on hourly chart , we can see that either wave 5 has completed at 24530 or one more high is pending to complete wave 5 as well as wave C.
if the wave 5 has completed at 24530 the we may see a correction as indicated with red line , and if we have not yet completed wave 5 then one more high is pending which will coincide with golden ratio of 24770 range and then we will see a correction from that level as indicated by yellow line .

POSSIBILITY: 2
if the correction ended at 22182 and we started a new impulse move then wave (1) ended at 24601 and wave 2 ended at 23072 . now we are currently in sub waves of wave (3).
to break the wave (3) further lets move to hourly chart .

in hourly chart case is similar as discussed in possibility 1 . either wave 3 is completed at 24530 or one more high is pending . after completing wave 5 price will retrace maximum to 23627 which is a golden ratio of last rise from 23072. one point to be noted is that the retracement cannot move below 23600-630 level if it is a bullish impulse move .

PS :- Unless and until , price do not move below 23600 range with strong close , our primary preference will be possibility 2. once price breaks down 23600 range then only we will consider possibility 1

#elliottwave #fibonacci #niftybank #smallcap #midcap #market #index #stockmarket
keep the chart clear and simple

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