🧵 How even the experienced traders get trapped in some situations believing that the trend is in their favorable direction? 🤔
This is from my thousands of hours of back testing result as an EVT practitioner. Please read 👇
@Biodun_OG Not an Indian or Bangladeshi accent; it’s Pakistani. They do a lot of online scams in Dubai. If it was an Indian scammer, she would have aborted it after understanding the victim’s accident situation, but Pakistanis are not like that. They have no sense or mercy.
@InvestorOfJAMMU It’s trying to sweep liquidity from the lower timeframe order block and FVGs in preparation to complete minor degree corrective waves. The rejection was exactly from the 78.6%, which is why price didn’t break 25376 today.
@donaldprumptin@EgoWithEdge This mindset needs to change. I haven’t lost anything. 50% of net trade income goes to building a short term portfolio, 30% is added to capital, and the rest goes to expenses. Practicing Elliott Wave Theory for trend analysis and liquidity models for trading never fails, bro.
Tomorrow's nifty view. Possible open near 25330-25350, chances of decline to 25200-25150 in the first hour. Entry at the zone and exit at wave 3 termination at 25650 swing (25476 intraday). Caution if the first 2 hour candle closes below 25192.
@sunilgurjar01 Still in wave 4, and wave 4 is always troublesome as it’s a flat correction in most cases. 25382 and 25476 are wave 3 termination levels, but wave 3 may advance to 25750 if today’s low holds and today’s high breaks tomorrow.
@Shyam_Nair_ Minor degree C of wave 4 terminated at 423% extension at 25097. Close at 25255 means wave 5 is in progress towards 25750 levels. I am bullish here and will create my swing position in the morning.
@OptionTrading03 Market in minor degree has terminated wave C of 4 at 423% extension at 25097 and closed at 25255. Now it’s progressing wave 5 towards 25750 levels.
@Shyam_Nair_ Next minor degree wave 5 is possibly terminating at 25739-25750. 25422 was the wave 3 termination and a wave 4 flat correction is underway. It should complete the ending triangle by today's close or tomorrow morning's first hour.
@kyalashish Nifty minor degree wave 3 is in progress and should terminate at 25422 (max 25500). Expecting a wave 4 flat correction within the 25286-25422 range. By noon, wave 5 BO is expected; wave 5 can extend to 25739-25750, possibly in a 4-5 market day cycle.