MCB - Hourly Analysis - 11-11-2023

Sarfaraz Ahmad
Nov 11, 2023

Primary Structure: Bullish Impulsive

Primary Trend: Bullish

Current Wave structure: Bullish Impulsive

Expectations: The rise from the low of black wave "4" is aggressive showing impulsive characteristics and can be counted in five waves. The structure in red wave "(A)" looks completed. As per the rules, we need a pullback minimum of three waves in red wave "(B)". Since it is a wave B, any corrective structure may unfold in it.

Recommendations: Wait for the structure to be completed.

Previously :