GAIL & EW Corrective Patterns

TF: Daily

This looks like the darling of Elliott Wave Practitioners.

It has all the possible corrective patterns

Be it ABC, WXY, abcde and 12345

Diagonals at the top and the bottom.. Impulse waves in the middle.. you cant ask for more

Long story short - a touch down at the lower trendline (black) to complete the diagonal is due...

In principle, The E point must go below the C point, therefore a move below 150 is possible

Whether the correction ends at Y or will it be extended like WXYXZ..? we will know later.

For now, we are almost nearing the bottom..

Waiting for a breakout above the Falling trendline (Green) from the top.


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