Bharti Airtel EW analysis!!

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650 levels insight, low risk entry could be after completion of wave 2 inside of wave 5 to ride the 3rd


#For educational purposes only.

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ملاحظة

We can clearly spot Wave 2 inside of wave 5. Take retracement levels, from point E (558 level) to top of wave 1 (approx 588 level) to measure potential targets for wave 2.

Target 1 - 570 (0.618 level)
Target 2 - 564 (0.786 level)

Stop Loss - 556 (Below the start of Wave 1)

٦ يوليو ٢٠٢٠

ملاحظة

Just incase any of you are confused, we are looking to BUY at those Wave 2 targets to ride wave 3 for a minimum target of 1.618% of wave 1+2, which i will update once wave 2 has completed.

٧ يوليو ٢٠٢٠

تم فتح الصفقة

As expected Order 1 filled at 570 and order 2 placed at 564. Generally(In most cases) it retraces to these two levels, although it can also retrace 100% level which is why we have our stop loss below wave 1.

٨ يوليو ٢٠٢٠

ملاحظة

RELOADED 3rd round @ 560 for full throttle take off, 100% retracement done, Stop loss active at 557.

٨ يوليو ٢٠٢٠

ملاحظة

Target 610, Easy.

٩ يوليو ٢٠٢٠

تم فتح الصفقة

Wave 3 started. Enjoy and ride this wave completely!

١٣ يوليو ٢٠٢٠

تم فتح الصفقة

Power of the 3rd WAVE.

١٣ يوليو ٢٠٢٠

ملاحظة

TRADE proceeding as planned.
Target 1 - 610.
T2 - 625
T3 - 650


P.s. Keep booking profits as per your appetite.

١٦ يوليو ٢٠٢٠

تم إغلاق الصفقة يدويًا

The price action now has given us new data, which shows Bharti is still in Complex wave 4 and has formed xx wave followed by a Z wave (Presently in it).

Wave 5 should start post that.

I am closing this trade for now and will update a new chart, soon! Thank you.

١٦ يوليو ٢٠٢٠

ملاحظة

For your knowledge, Wave XX ended at the 570 top and Wave Z is going to be a 5-wave downmove, post which we will take entry.

١٦ يوليو ٢٠٢٠

ملاحظة

And according to EW rules Wave 4 will never enter the wave 1 area. So the green wave 4 will never breach 495 levels (green wave 1) before a 5th (green wave) UP.