Bharti Airtel EW analysis!!

5 Tem 2020

650 levels insight, low risk entry could be after completion of wave 2 inside of wave 5 to ride the 3rd


#For educational purposes only.

6 Tem 2020

Not

We can clearly spot Wave 2 inside of wave 5. Take retracement levels, from point E (558 level) to top of wave 1 (approx 588 level) to measure potential targets for wave 2.

Target 1 - 570 (0.618 level)
Target 2 - 564 (0.786 level)

Stop Loss - 556 (Below the start of Wave 1)

6 Tem 2020

Not

Just incase any of you are confused, we are looking to BUY at those Wave 2 targets to ride wave 3 for a minimum target of 1.618% of wave 1+2, which i will update once wave 2 has completed.

7 Tem 2020

İşlem aktif

As expected Order 1 filled at 570 and order 2 placed at 564. Generally(In most cases) it retraces to these two levels, although it can also retrace 100% level which is why we have our stop loss below wave 1.

8 Tem 2020

Not

RELOADED 3rd round @ 560 for full throttle take off, 100% retracement done, Stop loss active at 557.

8 Tem 2020

Not

Target 610, Easy.

9 Tem 2020

İşlem aktif

Wave 3 started. Enjoy and ride this wave completely!

13 Tem 2020

İşlem aktif

Power of the 3rd WAVE.

13 Tem 2020

Not

TRADE proceeding as planned.
Target 1 - 610.
T2 - 625
T3 - 650


P.s. Keep booking profits as per your appetite.

16 Tem 2020

İşlem elle kapatılmış

The price action now has given us new data, which shows Bharti is still in Complex wave 4 and has formed xx wave followed by a Z wave (Presently in it).

Wave 5 should start post that.

I am closing this trade for now and will update a new chart, soon! Thank you.

16 Tem 2020

Not

For your knowledge, Wave XX ended at the 570 top and Wave Z is going to be a 5-wave downmove, post which we will take entry.

16 Tem 2020

Not

And according to EW rules Wave 4 will never enter the wave 1 area. So the green wave 4 will never breach 495 levels (green wave 1) before a 5th (green wave) UP.