Posting the 30 sec chart of this down-move from 5606.65-5545.55 so as to find out the Corrective pattern in it.Can somebody give some input?(though it is more of an academic exercise as mkt. has already moved ahead--)
And at the higher degree,momentum remains the guiding light.
Quoting from my previous post:
Q
So we are still in W3 and our count stands as:
W1=4531-4800=269
W2=4800-4588=212
W3=4588-5541 and this W3 is capable of doing upto 425% of W1.
Though it has been my observation that whenever 3rd wave does more than 300% of 1st wave,wave 4 and wave 5 get subsumed within it and so now the probability of W4 and W5 occurring has become minimal.
But where shall this W3 end?
Probable levels are:
3.764*269=1013=5600(already done)
4.00*269=1076=5664
4.236*269=1140=5727
Combine these probable points with momentum observation to take positions--
UnQ
And Momentum on daily scale has not shown any let-up in upmove as yet.The channel below shows how steep this rise has been and after 4588 ,the fractals are not discernible (to me at least).That is why simply saying that it is 3rd wave to the up in play.And it does sound strange that no proper fractals for this upmove of 4588-5621* ---
Raghu
guruji,
ReplyDeleteas u have asked i am replying. whatever little
i know looks like a flat since 5606-5577 a,
b 5577-5602 retraced more than 80% so zz ruled out by pretcher definition. but this explaination is very simple so i doubt wether it is the answer u have not considered and rejected
'Though it has been my observation that whenever 3rd wave does more than 300% of 1st wave,wave 4 and wave 5 get subsumed within it and so now the probability of W4 and W5 occurring has become minimal.'
in last bear market many moves have been there where this observed looks like 5400-4639,5740-4720, 5328-5944. though as per text book there is truncated 5th but this is ??? i cant think of any word.
wave rider ji has counted abxxabcxabc for this rally. is it a neowave count. i am not able to understand his count.
Dear Piyush,
DeleteAs exact pattern comes into light only after it has ended,so counts--whatever they are--are one of the ingredients for setting up a trade.
Wave-riderji is counting abc-x-abc-x-abc and setting up his trade accordingly.
Moral of the story is---donot limit wave-counts to academic discussions only.Use them for trade set-up.And as momentum is the deciding factor for final pattern--give it more weightage.
very true guruji.
Deleteguruji,
ReplyDeleteword verification these days have become tougher than waves.
if u dont believe what i say pls ask someone else :-)
Naagraaj being the blog administrator---this verification thing is in his domain.
DeleteGuruji,
ReplyDelete"abc-x-abc-x-abc" Kya ye WWji ka count ka aapna andaaz hai jaise wo "BEWO" ko count karte hai ya fir ye bhi 1.2.3.4.5.a.b.c.x hai.
regards,
SOLANKI
Dear Raghu ji,
ReplyDeleteMy understanding with channeling is done with lower channel end points as start of A and end of B.. Upper channel drawn parallel to lower channel from end of A.
In the chart from 4531-5620, channeling is done with lower channel end points as end of W2 and the next higher low. Parallel upper channel line from end of W1.
It looks quite effective.
Kindly give the guidelines for drawing this channel and trade set up for the same.
Thanks
Sekar