Index has completed a 5 wave move @ 6709 peak and is currently in wave ( B ). Wave A of ( B ) has completed @ 6507 and wave B of ( B ) is under way which can reach as high as 6661 (76.4 fib) from where we expect the Index to trade lower in 3 waves. Expect price to stay below 6709 for this view to remain valid and ideal target for completion of wave ( B ) is 6365 (50 fib). As this is a corrective pull back as per our primary view, we don’t like shorting the Index into proposed wave C of ( B ) lower.
If you would like to stay on right side of the market and receive frequent, timely & accurate forecasts with swing trade setups, why not sign up for 14 day Trial for just $9.99.
We do Elliott wave analysis of 25 instruments in 4 different time frames( 1H, 4H, Daily & Weekly). We believe 1 hour charts are critical for entry & exits so we update them 4 times a day so our clients are never left wondering what the short-term wave count is. Want to be able to analyse the market like this yourself? We have a range of educational content available in members area and you also get to interact and learn from our analysts through the live sessions & webinars. 14 day Trial gets you access to all this.
Back