IOC is ready for a sharp move in the coming week . These are the reasons
1. It has corrected exactly 38.2% (green panel) the rally i(350) to v (448) .
2. It has completed W-X-Y structure . So either this can morph into w-x-y-x-z structure . So we can either expect an X wave or an umpulse .
3. W : Y is 1:1 (not shown) .
4. It perfectly fits the corrective trend channel .
Trade 4 the top of the channel for 434 with a sl of 405 .
But wait for the confirming price action . The price should not break the price channel .
1. It has corrected exactly 38.2% (green panel) the rally i(350) to v (448) .
2. It has completed W-X-Y structure . So either this can morph into w-x-y-x-z structure . So we can either expect an X wave or an umpulse .
3. W : Y is 1:1 (not shown) .
4. It perfectly fits the corrective trend channel .
Trade 4 the top of the channel for 434 with a sl of 405 .
But wait for the confirming price action . The price should not break the price channel .