TCS exhibits signs of an impending sell-off, marked by key observations:
Close proximity to its all-time high.
Formation of an ending diagonal pattern in the vicinity of the historical peak.
Potential emergence of a flat irregular ABC pattern on the monthly chart spanning from September 2022 to February 2024.
Strategic considerations:
Option 1: Consider initiating a short position promptly.
Option 2: Alternatively, wait for confirmation with the break of Wave 3.
For optimal execution, targeting a short entry near 4010-4000 is advisable. This enables a strategic placement of the stop-loss above the all-time high. As TCS experiences a decline, a systematic trailing of the stop-loss can be implemented to manage potential risks effectively.
Close proximity to its all-time high.
Formation of an ending diagonal pattern in the vicinity of the historical peak.
Potential emergence of a flat irregular ABC pattern on the monthly chart spanning from September 2022 to February 2024.
Strategic considerations:
Option 1: Consider initiating a short position promptly.
Option 2: Alternatively, wait for confirmation with the break of Wave 3.
For optimal execution, targeting a short entry near 4010-4000 is advisable. This enables a strategic placement of the stop-loss above the all-time high. As TCS experiences a decline, a systematic trailing of the stop-loss can be implemented to manage potential risks effectively.
Заметка
5th wave cant be longer than 3rd wave, violation of Elliott wave theory, hence this idea is no longer implemented
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Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.