Wave Strategy Home Forums Trader’s Forum Sometimes you have to assume Impulse to be conservative….

This topic contains 2 replies, has 2 voices, and was last updated by  Aditya Tulshibagwale 1 month, 1 week ago.

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  • #245685 Reply

    Many Elliote wave/ Neo wave users often say that to be conservative, we have to assume pattern as a part of corrective action instead of impulsive pattern to generate conservative target. Following is a stock which has formed an 5 wave pattern in first wave. Usually to follow conservative approach, one would assume it to be a zig-zag correction. But here, wave which has been marked as wave 3 (Its an impulsive move. Can be seen on hourly chart) in the pattern if assumed to be of zig-zag, would result into extreme target of at least an equality of this wave. But if assumed to be of an impulse, gives lesser conservative target, equality with wave 1.

  • #245803 Reply
    Profile photo ofashishkyal
    Ashish Kyal, Author, CMT

    Which stock is this?

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