ST Engineering Rebound! Is It Time To Buy?

I have to re-draw the Elliott Wave count for ST Engineering because the recent rebound is still the Wave B. There is also a Mini Elliott Wave in Wave B (1-2-3-4-5) and currently hitting the uptrend support turned resistance level (green line).

For those who know Elliott Wave pattern and know how to count the Wave (1-2-3-4-5-A-B-C), you should be able to identify what is the next move! It is Wave C of the Big One and Wave A for the Small One! The Big and The Small are in the same direction!  Now we just need to wait for the certain candlestick pattern to form! Happy Trading!

See last Elliott Wave count drawn for ST Engineering.

2013July12-ST Engg-800x600

This Post Has One Comment

  1. Marubozu

    Getting near to previous high resistance.

Comments are closed.