The price action in Tata Steel on the 4H timeframe is showing characteristics of a potential Ending Diagonal forming near the tail end of the advance.
From the Wave 4 low at 177.33, the rise has not developed as a clean 5-wave impulse. Instead, the internal structure so far appears corrective, unfolding in three waves, which keeps the Ending Diagonal scenario valid.
Structure Assessment
If this overlap condition is satisfied, the final Wave (v) is expected to unfold as a three-wave advance, completing the Ending Diagonal.
Implications
Ending Diagonals typically signal trend exhaustion rather than continuation. Once the structure completes, the probability of a larger corrective phase increases.
Invalidation
For now, the focus remains on structure and rule compliance, not prediction.
Disclaimer:
This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
From the Wave 4 low at 177.33, the rise has not developed as a clean 5-wave impulse. Instead, the internal structure so far appears corrective, unfolding in three waves, which keeps the Ending Diagonal scenario valid.
Structure Assessment
- Wave (iii) of the 5th wave appears complete
- The ongoing move is likely Wave (iv)
- Cardinal rule of an Ending Diagonal: Wave (iv) must overlap Wave (i) by trading below ~191
If this overlap condition is satisfied, the final Wave (v) is expected to unfold as a three-wave advance, completing the Ending Diagonal.
Implications
Ending Diagonals typically signal trend exhaustion rather than continuation. Once the structure completes, the probability of a larger corrective phase increases.
Invalidation
- No overlap below 191 weakens the Ending Diagonal view
- A strong impulsive decline instead of a choppy correction would require a reassessment
For now, the focus remains on structure and rule compliance, not prediction.
Disclaimer:
This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
WaveXplorer | Elliott Wave insights
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📊 X profile: @veerappa89
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WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.