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Bhargav_1991

Wave 3 Initial Stage and Fibonacci Relationship.

Largo
INFIBEAM AVENUES L (NSE:INFIBEAM)  
Bhargav_1991  
NSE:INFIBEAM   INFIBEAM AVENUES L
Chart Patterns Wave Analysis
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7
chartpattern waveanalysis
snapshot

In chart wave 1 and 2 are completed, and wave 3 initial stage begin. i have added fibonacci relationship method which is basis of Elliot wave theory. And also we see that there is double bottom patten at the bottom of wave 2. And there is a breakout at around 20. So as per fibonacci relationship guidelines we can estimate the length of third wave. which is related to wave one or 1.618 times the length of wave one.
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