recently, bank nifty gave a good bull, and now a small correction it has faced.
ANALYSIS ON NIFTY 50 WAVES(check link): currently now nifty has completed its 4th wave, 5th wave will begin soon on Tuesday or Wednesday around. this impulsive movement will basically come from PHARMA AND IT sector. but there are even some large cap stock which are slow in nature and...
Meta (FB) has formed an inverse heads and shoulders pattern, indicating a short term trend reversal. Meta will continue on its way towards its fair value at around $500.
From what i can see we have simply had a previous impulse, followed by now our correction phase. from previous swing high to swing low our correction phase is looking to bounce from the 50% fib which also lines up with our triple top reversal and also a previous support line looking to become a resistance area highlighted in the green box with the blue line within...
I think the USDJPY is a bit overextended, and due for if anything a small retracement.
Two short entries, as outlined, are used because 123.04 is not very strong resistance.
1st entry is half as large as 2nd.
Target is a trendline as outlined, Target 2 perhaps the 20 or 50 EMA TBD
