#OPINIONLEADER# #forextrading# #StockMarket# #ForexForecast#
Market Commentary:
1. It seems the wave (5) was completed or yet to complete soon.
2. This is a weekly Time frame chart. Observe the chart and if you know
Elliot wave theory apply in your view.
3. The wave (5) is an ending diagonal (wedge Formation) and may be one more
internal wave can move up and then to the downtrend.
4. I showed the fib ratio from the wave (1) to wave (3) is exactly 2.618.
5. After the wave (3) completion the wave (4) also came down as per fib ratio 0.236
from wave (3) for the wave (4).
6. From wave (4) to Wave (5) is exactly it is in 0.618 fib ratio from wave (1) to (3)
to wave (4) and that is the profit target and it could be the end of the wave (5)
as per Elliott wave theory.
DISCLAIMER : All labelling and wave counts done by me by manually and i will keep change according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans...try to learn and make your own strategy...Following is not that much easy...I AM NOT RESPONSIBLE FOR ANY LOSSES IF U TOOK THE TRADE ACCORDING TO MY TRADE PLANS....THANKS LOT..CHEERS
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