Nifty Path ahead Using Neo Wave for 17500 Targets!Apr 26, 2022
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Neo wave is one of the best forecasting tools that help traders to understand the maturity of trend and can form a complete trading system.
Elliott wave has only a few rules to define impulse patterns whereas Neo wave very stringent rules for the same along with newly discovered patterns by Glenn Neely. This makes it highly objective and powerful technique especially to capture reversals.
Neo wave chart Hourly
Above chart needs little explanation and clearly shows the pattern Nifty is currently forming. With this understanding one can form a classic trading strategy using Options.
Extracting Triangle: This pattern shows wave e < wave c < wave a and wave d > wave b. This indicates that the power is getting extracted out of up move and transferred to down leg. This results into a typical Head & Shoulder pattern as can be seen above.
Basis of this multiple Option trading strategy can be implemented by traders. Below is snapshot of my trade setup combining various techniques together:
It is not necessary to combine all of these techniques but alone Neo wave can be sufficient to trade. But if you have the knowledge why not to use it just to increase the conviction.
In a nutshell, trading with an edge and a complete trade system is required to make it big. Above clearly shows power of Elliott wave / Neo wave and once an Elliottician is always an Elliottician.
Master of Waves – MOW Learn the science of Elliott Wave, Neo wave along with Time cycles in the upcoming program on Master of Waves and equip your trading skills using this simple and powerful forecasting tool. Along with this also learn the objective techniques of Timing the markets and Ichimoku Cloud. This will form complete guide or trading system. Early Bird ends on 10th May 2022. Know more here