Saturday, April 11, 2020

Escorts elliottwave analysis

Lets look at wave structure of escorts.
Lets have larger time frame first.

Larger time frame shows 123 is finished and 4th is on.Lets see the lower time frame to see 4th unfolding wave structure.

The above chart gives hint of  WXY unfolding its trading in a parallel channel. WX is finished Y is unfolding with a already done and b underway .b is usually notorious plays around for some time before giving up not to forget it catched lot of traders on wrong foot .Look for shorting opportunity in coming days in this in rallies.This wave structure fails if stock crosses above parallel channel.


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