Starting from previous post:
Q
Wave C from 5944 downwards--5 wave form--
W1=5944-5329=615
W2=5329-5740=411
W3= 5740-4720=1020(165% of W1)
SW1=5740-5497=243SW2=5497-5702=205(85%)
SW3=5702-4720*=982(404% ) and capable of doing 4670(i.e. 425% of SW1)
Retracements,if they start now,should be treated as SW4 and minimum target should be 23.6% of SW3=231=4951.
UnQ
So SW4 began and what a beginning it was.
Now this SW4 has to be a 3 wave form ABC. Are we able to see a 3 wave form in the current run-up from 4720-4935? At least I am not. Then?
I believe we have chalked out A of SW4. How to be sure whether this A is over?Particularly now that even a 5 wave fractal for this A is also not quite identifiable.
All I can offer as an answer is that whenever A is a fast and furious retracement to an Extension, it is like this only and the end of A has to be more of a guesswork with total retracement as ABC being the only guide.
Now ,since SW2 retraced 85% of SW1--this SW4 is bound to be shallow , doing max 38.2% and since SW2 was a zig-zag,probability of SW4 being a Flat is very high. So the B that ensues downwards is more likely to be a deep one.
My "preferred count" believes that A is over and tomorrow we may test 4800 again(61.8% retracement of A=4720-4935=215)-- as B of SW4-- and remember,this B can do even 138.2% of A i.e. go below 4720 also.
So do not be in a hurry to go long again. Remember this B will do a 3 wave form. I am loaded with 4900PEs and would start unloading below 4825 (i.e. 50% retracement of A) and hope by then the wave-form will give clear indication of the destination for B.
Best of luck.
Raghu
This comment has been removed by a blog administrator.
ReplyDeleteDear Raghu ji
ReplyDeleteGood start.
Please don't be nervous by any comments. Afterall it is all game of probability.
No one in this universe is 100% correct.
Stock market is a highly volatile place where nothing can be predicted. We move towards probable targets which may change without any reason. So my brother please keep it up.
Good luck. God bless you.
Jeevan.
Dear Sir John ji.
ReplyDeleteGood morning sir.
I assume you as a sporty player of stock market where no one can predict movements. It may change to any fibbo levels..23.6...38.2...61.8..and fibbo projection levels.
Right from the begining of stock market many theories have been innovated but great persons who innoveted their theories have declared that all targets are probable. Still many TA and EWA are following their studies and books.
I am sorry brother if I hurt you.
we all can make this world happy.
Good luck. God bless you.
Jeevan.