My guiding light for today is this chart:
.png)
Theoretically C2 can retrace99.9% of C1.
So safest stop-loss for longs is 5136.
10.10.AM
First Hourly candle was a white.
Stochastic is showing + cross-over.
And pattern for the Impulse 5306-5183 is showing completeion(not a 5 wave Impulse but one which has become quite common in occurrence:
.png)
Would be adding more to my long positions above 5233(which happens to be day's pivot as well)
Stop loss for longs at 5155.
1.20 PM
TSL for longs 5199. why?:
.png)
.png)
2.05 PM
keeping in mind the probability of truncation( i.e not going below 5183:
.png)
2.37 PM
A tick above day's high means downmove over
.png)
EOD:
As per my understanding, down move is now over
.png)
.png)
Theoretically C2 can retrace99.9% of C1.
So safest stop-loss for longs is 5136.
10.10.AM
Stochastic is showing + cross-over.
And pattern for the Impulse 5306-5183 is showing completeion(not a 5 wave Impulse but one which has become quite common in occurrence:
.png)
Stop loss for longs at 5155.
1.20 PM
TSL for longs 5199. why?:
Indicaters have started hinting at upward momentum picking up
1.45 PM
.png)
1.55 PM
Not going below 5155.
Square off shorts below 5183 and and start building longs again with SL at 5154.
.png)
keeping in mind the probability of truncation( i.e not going below 5183:
.png)
2.37 PM
A tick above day's high means downmove over
.png)
As per my understanding, down move is now over
.png)
Raghu
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