Elliott wave and Gann analysis: Cairn India reversal


Mixing the Gann and Elliott Wave analysis could be truly rewarding. Here is an example, just posted on my facebook page- https://www.facebook.com/Learn-Elliott-Waves-Gann-299034886964403/

 

Cairn India

As Elliott Waves Cairn has completed 5th of the 5th on the downside. While , I posted about the reversal today around 11pm it was 4th wave where the stock was trading 129. Wave 1 and Wave 3 were clear impulse and hence 5th was coming. However, this 5th was to be on the small degree and after it the 3rd wave of a larger degree has to be followed. Since target mentioned could take more than a months time so the better strategy seemed to go long in cash. Also, wave 2 which will unfold in near future. The stop has been placed below the recent low of 121. Cairn India went to 134 after I posted my analysis.

 

CAIRN - Alternate 1 - Dec-21 1606 PM (6 hour)

CAIRN - Alternate 1 - Dec-21 1608 PM (1 hour)

Leave a comment

Or

Your email address will not be published. Required fields are marked *