Titan Chart Explanation as per Elliott Wave.

Titan Chart Explanation as per Elliott Wave
Your updated chart combines:
• Elliott Wave Count (1–5)
• A complete ABC correction for Wave 4
• Breakout from a long consolidation
• Fibonacci retracement projections
• Targets for Wave (5)
Below is the breakdown:
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🔵 1. Elliott Wave Structure
Wave (1) → Wave (2)
• The early impulse and correction are visible on the left side.
Wave (3)
• A strong rally into mid-2024 (peak marked as (3)).
Wave (4) – ABC Completed
• Wave a drops sharply.
• Wave b retraces upward.
• Wave c makes a final low forming Wave (4).
• The bottom of Wave (4) lies near ₹2,900–3,000 (0% level shown).
This confirms Wave (4) completed.
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🔵 2. Price Targets for Wave (5)
You have two targets highlighted:
📌 Short-term breakout target-1
• ₹4,165 (11.24%)
• Label shows a smaller measured move, possibly from breakout box height.
📌 Major Wave (5) Target-2
• ₹4,689 (24.46%)
• Calculated as the height of previous swing projected from breakout.
This aligns with Elliott Wave rules where:
• Wave 5 often equals Wave 1 OR 0.618 × Wave 1
• It usually surpasses Wave (3)'s high
Wave (3) high ≈ ₹4,050
So the ₹4,689 Wave (5) target fits perfectly.