TCS exhibits signs of an impending sell-off, marked by key observations:
Close proximity to its all-time high.
Formation of an ending diagonal pattern in the vicinity of the historical peak.
Potential emergence of a flat irregular ABC pattern on the monthly chart spanning from September 2022 to February 2024.
Strategic considerations:
Option 1: Consider initiating a short position promptly.
Option 2: Alternatively, wait for confirmation with the break of Wave 3.
For optimal execution, targeting a short entry near 4010-4000 is advisable. This enables a strategic placement of the stop-loss above the all-time high. As TCS experiences a decline, a systematic trailing of the stop-loss can be implemented to manage potential risks effectively.
Close proximity to its all-time high.
Formation of an ending diagonal pattern in the vicinity of the historical peak.
Potential emergence of a flat irregular ABC pattern on the monthly chart spanning from September 2022 to February 2024.
Strategic considerations:
Option 1: Consider initiating a short position promptly.
Option 2: Alternatively, wait for confirmation with the break of Wave 3.
For optimal execution, targeting a short entry near 4010-4000 is advisable. This enables a strategic placement of the stop-loss above the all-time high. As TCS experiences a decline, a systematic trailing of the stop-loss can be implemented to manage potential risks effectively.
Not
5th wave cant be longer than 3rd wave, violation of Elliott wave theory, hence this idea is no longer implemented
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.
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.