wxy,second correction y.use wave B bounce to exit long.
After momentum divergence and 2-4 trend line breach bank nifty trend has been side ways to downside.
so far it looks like bank nifty is making double correction WXY, of which wave W and X is done and Wave y sub-wave A is done and Wave y sub wave B is going on,which should be used to exit long's previously hold.
Now where this wave B will end cannot be predicted,but if current bounce manages to clear 61.8% retracement of wave A(one candle close above the level) than we can ascertain a this correction to be a Flat one.From there on depending upon the higher retracement levels sub-form of Flat can be derived.
In either case of Flat or Zigzag one should avoid longs and if previously holded then it should be liquidated as wave C decline can take prices to wave A low and even break it.
so far it looks like bank nifty is making double correction WXY, of which wave W and X is done and Wave y sub-wave A is done and Wave y sub wave B is going on,which should be used to exit long's previously hold.
Now where this wave B will end cannot be predicted,but if current bounce manages to clear 61.8% retracement of wave A(one candle close above the level) than we can ascertain a this correction to be a Flat one.From there on depending upon the higher retracement levels sub-form of Flat can be derived.
In either case of Flat or Zigzag one should avoid longs and if previously holded then it should be liquidated as wave C decline can take prices to wave A low and even break it.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.