In the absence of "proper" retracements,it becomes very difficult to keep a wave-count and in this Impulsive upmove from 4531,"ideal" five waves may not be seen(with wave 4 and wave 5 getting sub-sumed within wave 3).
Still ,taking the last low of 5077 as beginning of last sub-wave of this upmove,following two options can be considered:
In the chart above,SW1 is taken as the extended one and SW3 & SW5 have yet to come in the ratio SW1>SW3>SW5 and SW1 is likely to be 1.62*SW5.The same may end up as a 5*3*5*3*5 ending diagonal.
In the chart below,possibility of an Ending Diagonal 3*3*3*3*3 is considered where SW1 < SW3 < SW5.
And both of them show more upside left---
Raghu
guruji,
ReplyDeletevery educative post on diagonals. but has it shown any intent of becoming a diagonal. may be simple 5 waves with 3rd extending. though this will
make no difference to ur main msg "upside
left"