Reliance - Day end analysis 2023.05.22

RELIANCE

- Currently into corrective wave a
- Wave a subdivided into 5 impulse waves i,ii,iii,iv,v (light blue color)
- Wave iii extended 1.618 times wave i
- Wave iv retraced 38.2% of wave iii
- Wave iv did not close inside wave i territory (EW cardinal rule satisfied)
- Wave v target is 100% length of wave i (@2413), which should also mark completion of wave a

Set-up:
- Short at CMP 2455
- SL daily close above 2470
- Target 2413

Dagangan ditutup: sasaran tercapai:

Target achieved. Trade closed.