Trade Set-up for 29-02-2012

First of all my Preferred Count:

And a look within each of these arms:

Now we have Two Probabilities
1.Either W4 (of current upmove from 5268 )is over at 5354 or is playing out a combo whose W(downwards) and X(upwards=5354-5391) have played out and Y downwards(as abc) is in play:

OR
2. W4 was over at 5354 and currently W5 in play as a Diagonal:

And now comes the best part.
As W1= 73.5, for this wave to become a perfect 5 wave,W5 can be 45.5(so as to make W1 extended) so W5 can not go above 5400.

Thus 5400 may see a retracement for the above discussed Fiver(5268-5400=132) which would bring it down to 5350(38.2%),5334(50%) or even 5318(62%).
USE THESE DIPS TO GO LONG WITH SL AT 5306.


Raghu