Stumped out once again.
Such a high volatility and repeated gap-downs and gap-ups are making it very difficult to write and correctly place daily fractals.
Continuing with my basic Count: that W5 has started from 5026 downwards but making an alteration in it, based on the form that has become apparent today.
This W5,instead of fanning out a regular Impulse 5*3*5*3*5,may very well fan out as an Ending Diagonal 3*3*3*3*3.
So my Preferred Count as it stands today is:
W5 in action as an Ending Diagonal :
SW1=5026-4729 its 3 subwaves being
5026-4824=202
4824-4870=46
4870-4729=141(70% )
SW2 in play, again as a three wave
A=4729-4922*(a 5 wave form)
B & C yet to fan out and may very well test 5000 as a zig-zag
On charts, the link is:
http://img810.imageshack.us/img810/1402/nifty7102011.jpg
Raghu
PS: It does not feel nice to get repeatedly stumped. I advise all my friends to keep an eye on old friend "trendlines" as in case of gap-ups & gap-downs,they provide a more handy tool than EW which, in the absence of proper fractals,take a day or two to put forward a clearer picture.
Acknowldeged Sirjee :)
ReplyDeleteStill missing u on mmb board, kabhi kabhi udhr bhi nazar aajaya kariye :)
Rgds,
Waquar
Dear Raghuji,
ReplyDeleteFor the short term, say 2-4 weeks, TLs suggest Nifty ji is moving in a Contracting Wedge Formation & price action seems to be limited in this Channel - this is purely TL basis
Pls see the chart @ link below
http://postimage.org/image/f1k4jlic/
If u can pls repost the ABC count from 4720, it will throw light on how to label the move in conginzance with wot TLs are showing
urs
Posting on behalf of mahaguruji wwji
ReplyDeleteQ
Dear Raghu
Sachin Tendulkar - was STUMPED 11 times in one day international and was also out HIT WICKET once.
However, he was STUMPED just once in TEST Cricket.
So, it is all right to get stumped in short duration waves.
Mistakes are like stones, We use them to build a strong foundation so we DONT get STUMPED in TEST MATCH.
You should feel proud of of your accomplishments, though you were stumped a few times, you never got out HIT WICKET.
In the games of waves, HIT WICKET = Giving up.
Cheerz
Waverider
UnQ