The primary count suggests the larger Wave (iv) correction may be complete, with the next impulse developing higher. Within this move, blue Wave 1 appears to have formed as a Leading Diagonal, followed by Wave 2.
There is also an alternate orange ABC count, where the correction from the recent high is still unfolding. This would mean the current bounce may be part of Wave B, with Wave C still pending.
The next few sessions should help distinguish between the two structures.
#MPS #ElliottWave #TechnicalAnalysis #NSE #SwingTrading
There is also an alternate orange ABC count, where the correction from the recent high is still unfolding. This would mean the current bounce may be part of Wave B, with Wave C still pending.
The next few sessions should help distinguish between the two structures.
#MPS #ElliottWave #TechnicalAnalysis #NSE #SwingTrading
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.