Derive Targets Using Bollinger Bands® and Elliott wave

Bollinger Bands can be used along with Elliott wave to derive targets and also entry levels. This Technical analysis studies if combined with Gann or Elliott wave becomes more powerful.

Below is the chart of Nifty given in research on basis of Elliott wave

Nifty Elliott wave anticipated on 3^rd September

 Nifty Bollinger Bands – Anticipated on 2^nd September

Nifty hourly chart - HappenedNifty anticipated on 2^nd September as per Bollinger Bands - #Nifty managed to close above mid #Bollinger Bands for 1st time in 22 days with 3 Candlestick rules followed, High above prior high, low above prior low, close above prior high, target 19630, simple yet powerful way of trend reversal - Twitter Link1

Nifty anticipated on 3^rd September –

#Nifty to Gap up today above 19460, use dips as buying opportunity as long as 19320 is intact, time turns up at 10.30, so today can be buyers day with daily #BollingerBands hurdle at 19630 levels - Twitter Link2

#Nifty #Elliottwave internal counts of wave 4 completed triangle, analysing internal of correction is important to ride next impulse wave 5, opening hour candle close above 19460 near 10.30am will bring price action in sync with Time, invalidate below 19220 - Twitter Link3

Happened – Nifty moved precisely as per the combination of Elliott wave, Bollinger Bands and combined with Time cycle that formed a low precisely on 3^rd September at 10.30 am. Also this Time cycle was derived together during free webinar with 1000s of participants. As on 6^th September closing Nifty achieved the target of 19636 by closing hour. This shows power of forecasting using Elliott wave and Time.

Now that prices have achieved the target on upside we can now use Fibonacci retracement and expect next level of 61.8% near 19696 levels or higher.

In a nutshell, it is possible to forecast the market and trade profitably by understanding the patterns of Elliott wave combined along with Fibonacci and Bollinger Bands technique.

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