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Correctionwave

INDIGO ShortThis is my first post in tradingview. I am new to trading of any kind.I have been trying to find my way using EWT. I think the stock is in ABC (Corrective) mode at present. I am unable to figure out if its still in A or it has entered B. I can see divergence in MACD (a. top of wave 3 and wave 5 b. top of wave 5 and current stock position) I solicit a few things from this awesome forum: 1. Is my wave count (1-5) correct? 2. If yes, Should one enter into a position to ride wave C? 3. If yes, what would be the strategy for that? 4. Also, I see the stock travelling within a band as shown. Does it have any significance? Thanks
BSE:INDIGOShort
by Withoutshoes339
DAX SHORT (2)Hi all, My previous publication suggested that price last week would reach out to the 0.786 retracement for a harmonic completion before resuming the last impulse wave of the superceding structure. It hasn't quite done so (yet). However on the likely that this bullish correction is over and that we won't see higher prices in the near future, I will anticipate short opportunities now before it's too late. Following last week's price breach of the ascending trendline (ABC) indicating a 'possible' termination of bullish correction, we saw a strong pull back into an area from which we can infer offers a valid bearish head and shoulder pattern. Concurrently this price area is also a potential reversal zone as per the gartley harmonic completion (purple) at the .78 retracement. From a larger perspective, price has finally found resistance from the .38 fib retracement after an exhausting wave 3 bearish rally. So it wouldn't be unfair to assume that the bears will look to take this one home by completing the wave structure. Otherwise, if the market pushes price above the 27th high then we could expect bears to take charge proceeding the cypher harmonic completion and wolfe wave completion. Regards Laurence
FX:GER30Short
by WaveAlchemy
CORRELATION - PATTERN TRADE SETUP- ELLIOT WAVE (60m)Morning! Looking at the correlations in excel for today, EUR/USD + GBP/USD have a very positive correlation (93.9) for the hourly This means USD is countered, i.e it becomes EUR/GBP > also waiting on retracement from the FIB EXT level of 127.20%, this will complete D, and will be a good time to sell if the price reverses from that area. Elliot Wave - I have included a correction, (0ABC) Be conservative on your trading, and look for entry points around the white line (0,72887) via a retracement of 127.20%! All the best in your trading! CharlieFX
Short
by proptrading