Trade-Setups on Maruti Short Target 6639 and 6483

How to find the next wave after the development of extended waves?

Two terms are important to understand for this Sample.

  • Extended Wave – The biggest wave of three impulsive waves (W1, W3, or W5) for the motive phase. In this, we expect gaps, surged, sharp moves in it.
  • Difference between points – A wave has two points, the starting and ending point. The distance between them is the difference between those points. For example, Wave 1 traveled from Rs. 30 points to Rs. 45 point. As a result, the difference between 45- 30 points is “15”.

The formula that we will use to find the 5th wave:

Difference of, 5th Wave = 3rd wave Extended – 1st Wave Read more