Retracement for W3=5740-4720 in play as W4---shall fan out as ABC of which:
A=4720-5114=394
B=5114-4911 as an Expanded Flat
C= 4911---upwards in play as a 5 wave--- C1,C2---
with min target=0.618*A=243=5154; Normal Target C=A=394=5305
This C has so far played:
C1=4911.3-5030
C2---in play as 3 wave as a Regular Flat:
C2(a)=5030-4911.35
C2(b)= 4911.35-5024
C2(c)--- likely to play out tomorrow from 5024-4911.5
So I have gone Short with SL at 5031
Best of luck.
Raghu
Guruji: Charan Vandana
ReplyDeleteCould you pls suggest the alternate count as well that derives the SL of 5031 on NF Spot.
Asking this looking at European bourses closing at the highs of the day.
Dear Naagi,
ReplyDeleteAny attempt to co-relate the counts with outside "noise" must be avoided.Alternate counts because Europe has closed up? HHHHH
Alternate Counts are to be mentioned only when we are at cross-roads.Currently we are not.
SL is mentioned as mkts.supremacy has to be accepted.In case SL gets triggered,then a fresh count(after viewing the fresh pattern)would be prudent.
Gurju ji,
ReplyDeleteGustaaki maaf kijiye. Ek doubt hai.
Q
A=4720-5114=394
B=5114-4911 as an Expanded Flat
C= 4911---upwards in play as a 5 wave--- C1,C2
UnQ
One doubt guruji
Our B has done 203 points compared to the A, which works out to a retracement of 51% of the move 4720-5114. Would it not make it a zigzag where min C is expected to do as much as the A.
So if our C does the .618 zone to 5154 our it would satisfy one of the main rules pertaing to overlap in an impulse. However, if it does the full distance to 5305 would it not infringe into the territory of wave ii over 5195.90.
Love to hear your views pertaining to overlap rule in an impulse when the wave 2 does an expanded flat and goes beyond the wave 1 to post the subwave 'b' of the wave 2.
Also based on guidelines for corrective - our wave ii was an expanded flat 5328-5605-5740 and hence I feel the iv has to be something other than an expanded flat.
PERHAPS I AM MISSING OUT ON SOMETHING. PERHAPS "B=5114-4911 as an Expanded Flat" is either a typo or I have not understood it correctly.
Appreciate throw some light.
The only view I have right now - based on the rule the current move if it is part of iv is not allowed to go beyond 5195.90 since that area belongs to wave ii, though technically 5328 is the official wave i.
Cheerz
Balu
Dear Waveriderji,
ReplyDeleteWho is Guru & who is Chela--God knows it well.
But it gives me immense pleasure that you considered my post and feel honoured that asked a question as well.
To me the answer is simple--- wave 4 should not enter into territory of wave 1,that's what the Manual (my manual--EW Principle by Frost & Prechter) says.So to me the inviolable territory is 5944-5329.
Your interpretation may be valid--who am I to question that?
HHHHHHHH
and if 5329 cannot be violated, 5229 shall hold :-D
ReplyDeleteReason ?
Ans: A yawning Gap exists from 5229 to 5377 in Aug'11,
if 5229 is taken out, Nifty has to fill the gap to 5377 which wud violate our W1 !!!
HHHHHHHHHHHA
urs
SMO
Raghu ji
ReplyDeleteHow can be enter the territory of wave 2 without violating the rule.
IMHO the moment we go into the wave 2 zone, that violation has occured.
When it does, I will present an alternative, until then I'll watch 5195.90
One thing to consider, our ii was 66% of 1, if we are to hit the 5328 zone then our iv would also be 60%+ Of course based on your intrepretation of the rule 5327 is zone of 1 and the overlap wont occur.
Wont it be tought for Mr. v to go below Mr. iii?
IMHO the moment we kiss 5195, this ain't no impulse :) The C will end or would have ended as an ED.
WR