MTA Webinar
Presenter:Mr Ashish Kyal (CMT) Ashish Kyal is the Founder / Director of Pvt. Ltd. He is a Chartered Market Technician. He has extensively written for Global assets including Equities, Bonds, Agro Commodities, Metals, Alternative Energy, across multiple time frames He has worked for leading investment banks like Lehman Brothers / Nomura Holdings He is a frequent speaker on Business Channels like CNBC TV18 and Zee Business. He has also been a guest speaker at host of management colleges and frequently speaks at financial seminars
Topics BASIC PATTERN DAIGONAL EXTENSIONS 5 TH WAVE TRUNCATION ALTERNATION WAVE EQUALITY CHANNELING CORRECTIVE WAVES ZIGZAG FLAT TRIANGLES COMBINATION WAVE CHARACTERISTICS RATIO ANALYSIS PRICE & TIME CONFIRMATION
History In the 1930s, R.N. Elliott discovered that the stock market moves in recurring patterns that he called waves. He formulated the Wave Principle based on these wave patterns
The Fibonacci Series 1,1,2,3,5,8,13,21,34,55,89,144.. The Golden Ratio 1.618 Fibonacci is used for Retracements & Projections
Impulse Pattern It is structured as (5-3-5-3-5 ) It can be upside or downside It is labeled as 1-2-3-4-5
Important Rules Wave 2 cannot retrace complete of Wave 1. Advanced concept suggests wave 2 cannot retrace more than 61.8% of wave 1 Wave 3 cannot be shortest of Waves 1,3 and 5 Wave 4 cannot enter into the territory of Wave 1
Extensions When wave 3 is extended, then wave 1 and wave 5 tends towards equality The extended wave itself is 5 waves internally Wave 4 will normally not retrace more than the central power area of extended wave
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Ending Diagonal It is structured as (3-3-3-3-3) It is similar to Wedge pattern It can occur in Wave 5 and Wave C Breakout on downside will retrace complete up move of Wave 5 in ½ or ¼ time
Truncation If wave 5 does not move above wave 3 then wave 5 is called to be truncated Wave 5 is internally an impulse wave
Channeling Technique
Channeling Technique
Corrections Correction should take more time than preceding waves. There are three basic types of standard correctives: 1. Zigzag 2. Flat 3. Triangle
ZigZag It is structured as (5-3-5) Wave B will not travel more than 61.8% of wave A Wave C should move beyond the end of wave A Truncation cannot happen in wave C in case of Zigzag
Regular Flat It is structured as (3-3-5) Wave C will most probably move beyond end of wave A which can be equal to 0.618-1.618 times of Wave A Wave B should retrace atleast 61.8-100% of wave A
Wave b should be between 100% to 161.8% of wave a Irregular Flat If wave b is more than 138.2% of wave a then we might see irregular flat failure pattern 18
Running Flat If wave c does not move below the start of wave a then it is said to be running flat Running Flat has very strong post pattern implication
It is structured as (3-3-3-3-3) Each segment in triangle is corrective At least 3 segments correct more than 50% of previous wave Triangle can drift upward or downward Triangle
Alternation Alternation can occur in following ways: Price: for example - wave 2 = 100 points, wave 4= 50 points Retracement: for example - wave 2 = 61.8%, wave 4= 38.2% Complexity: for example - wave 2= complex, wave 4 = simple Time: for example - wave 2 = 10 days, wave 4 = 5 days Wave 2 and wave 4 will always tend towards alternation 21
Combination Double Flat Flat + Zigzag Triangle + Flat
Double Flat Correction
Triple Combination Flat + Flat + Triangle Zigzag+ Flat + Triangle
2 Stage Confirmation 2-4 trendline should be broken in faster time than wave 5 took to form Wave 5 should be retraced completely in faster time
2 Stage Confirmation 0 b trendline should be broken faster than wave c took to form Wave c should be retraced completely in faster time
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Contact Details: Website: Email Id: ashishkyal@wavesstrategy.com helpdesk@wavesstrategy.com Contact Number: +91 22 28831358/+91 9920422202