Hope the above chart helped you in understanding about how the Elliott Corrective Wave Theory works! So we have the example of PCBL here which was in a correction, forming the Elliott five waves and now is under accumulation phase. It has already broken the trendline and is now expected to break the consolidation phase and then complete our wave theory according to which the downtrend ( correction phase) is now over and now it is ready to start a new uptrend. During accumulation we can notice good volumes getting in and we can therefore expect 20% move in the near future. Feel free to give your views on my analysis. DYOR as well 👍
Happy Trading1
Happy Trading1
Kommentera:
Another opportunity in Philips Carbon, Forming an inverse head & Shoulder. Wait for an entry once it breaks out or can be a sell trade as well if it forms a bearish engulfing tomorrow
Kommentera:
T1 10% achieved, Might add more on a pullback 💹⚡