Strides Pharma trade setup

١٨ ديسمبر ٢٠١٨

Leg a,b,c has satisfied the characteristics of a triangle,this is most probably a triangle. Assuming this as a triangle, leg d will be completed at some 500 level. After leg d is completed, it can be a great opportunity to short for leg e of X/B. after completion of leg e and X/B it can be great opportunity to go long till the wave 4 completes. Keeping probabilities in mind and considering that this is not a triangle, we can assume that leg X has been completed instead of leg c of a triangle, then leg d can be a leg a of Y of 4, which can be still a great opportunity to short for wave b.
If a triangle forms, then most probably, it will form a EX-flat structure of wave Y (just smaller degree of wave 4).
All the targets, SL and entry point will be in smaller time frame keeping internal waves in mind.