Nifty Trading using Fibo and Diametric patternJul 07, 2022
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Nifty Diametric pattern is working out precisely. Diametric is a 7 legged corrective pattern mentioned in Neo wave.
Combining this along with Fibonacci gives precise entry and reversal areas.
Nifty 60 minutes chart:
Nifty Is moving as per Time cycles and Neowave very precisely. We can clearly see Diametric pattern is going on currently.
In Diametric pattern we know that wave b usually takes lesser time than wave a. Over here we can clearly see that after wave x completion wave b took lesser time which was the hint to pattern recognition as Diametric. After this has happened trading will be extremely easy especially using Options. We know Diametric is a 7 legged pattern. So after wave b is complete one can think of riding wave c and subsequent trend on upside.
Time cycles can also be used along with this to time the exact entry on a 15 minutes chart. Fibonacci will give the targets.
In a nutshell, by combining this simple aspect of Neo wave with Time and Fibonacci strong high conviction trade setups can be formed on Nifty, Bank Nifty or any stocks.
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