Continuing from yesterday's EOD post:
(iv) in progress as a Doble-zig-zag:
.png)
minimum for c of second zig-zag was done yesterday( as shown in the chart above).
However,what is the maximum?
Maximum is C=1.61*A
As a=5202.3-5231.4=29.1
c(minimum)=0.618*a=17.98---has been done as c=5210.3-5228.7*=18.4
c(maximum)=1.61*a=46.85=5257.15
So Stop-loss for shorts is 5257.25.
9.38 AM
.png)
10.42 AM
This (iv) is proving quite complex. So putting my SL for shorts at 5257.25 and watching-----
11.12 AM
My hint of weakness has come
.png)
Conservatives should wait for day's low getting breached.
12.00 N
HHHHHHHHHHH
Aap sab ko badhaaiyaan--
12.04 PM
Booked 50% of shorts at 5170
12.17 PM
.png)
12.25 PM
Levels to short again:
.png)
.png)
Short above 5195 again--
.png)
.png)
.png)
1.20 PM
.png)
1.56 PM
.png)
Donot worry.
Shorts to have SL at 5218.
Target 5080
.png)
3.00PM
Call to close all short positions
.png)
As one can see in the chart above, although 3rd wave=130 is not extended vis-a-vis Ist wave=96;it is extended vis-a-vis 5th wave=75
75x1.62=122
So a five wave form from 5342 downwards is complete.
It has been a late observation on my part but I believe no damage would have been done.
3.16 PM
.png)
EOD
I had commented as an answer:
"one of the 5 waves has to be extended. In majority of cases it is 3rd but that is no rule.If 3rd is not extended and 4th goes inside ist,then a diagonal resuls. If 3rd is not extended and 4th has not gone in ist then 5th would be extended"
Now add to it the probability of 5th limiting itself to a length wherein the 3rd gets extended vis-a-vis 5th.
-----you re-inforce your everyday learnings like this----
.png)
Raghu
(iv) in progress as a Doble-zig-zag:
.png)
minimum for c of second zig-zag was done yesterday( as shown in the chart above).
However,what is the maximum?
Maximum is C=1.61*A
As a=5202.3-5231.4=29.1
c(minimum)=0.618*a=17.98---has been done as c=5210.3-5228.7*=18.4
c(maximum)=1.61*a=46.85=5257.15
So Stop-loss for shorts is 5257.25.
9.38 AM
.png)
This (iv) is proving quite complex. So putting my SL for shorts at 5257.25 and watching-----
11.12 AM
My hint of weakness has come
.png)
12.00 N
HHHHHHHHHHH
Aap sab ko badhaaiyaan--
12.04 PM
Booked 50% of shorts at 5170
12.17 PM
.png)
Levels to short again:
.png)
.png)
.png)
.png)
.png)
.png)
.png)
Shorts to have SL at 5218.
Target 5080
.png)
Call to close all short positions
.png)
75x1.62=122
So a five wave form from 5342 downwards is complete.
It has been a late observation on my part but I believe no damage would have been done.
3.16 PM
.png)
EOD
I had commented as an answer:
"one of the 5 waves has to be extended. In majority of cases it is 3rd but that is no rule.If 3rd is not extended and 4th goes inside ist,then a diagonal resuls. If 3rd is not extended and 4th has not gone in ist then 5th would be extended"
Now add to it the probability of 5th limiting itself to a length wherein the 3rd gets extended vis-a-vis 5th.
-----you re-inforce your everyday learnings like this----
.png)
Raghu
wah guruji.
ReplyDeletepls correct it
1.5342-5246=97
2 5246-5310=64
3 5310-5180=130
4 5180-5236-56
5 will be extended 1.62*97=5236-157 5079 a high
probablity.
Correct.
DeleteNow try to foresee this 157 point wave as a 5 wave form:
157/2.38=66
so 5335-66=5169---
make it 5235-66=5169
Deletewhere to book profits
ReplyDeleteTarget is 5080
Deletegreat sir, once day low is broken i too gone short and made some bucks ... credit goes to you
ReplyDeleteok guruji. approx wave/2.38 for each subwave. great. never knew
ReplyDeletethis kind of planning
Not for each wave--only Ist wave---
DeleteLovely. Retraced at 5161-5169 as said
ReplyDeleteok guruji.
ReplyDeleteEW Rocks and so do you :-) Raghuji \m/
ReplyDeleteRaghuji, since wave iii was extended do you think that wave 5 may terminate early?
ReplyDeletewhich wave iii was extended? Extended means minimum 1.62 times or more--
Delete5310 - 5187 was extended in terms of structure but not as par fibo multiplier. But I have understood your point.
Deleteone of the 5 waves has to be extended. In majority of cases it is 3rd but that is no rule.If 3rd is not extended and 4th goes inside ist,then a diagonal resuls. If 3rd is not extended and 4th has not gone in ist then 5th would be extended---
ReplyDeleteDear sir thank u 4 everything. pls suggest EW book to learn all rules like above to study.Thanks in advance
ReplyDeleteon right hand side top corner,there is a link to Elliot Wave International's site--- go there---get free on line book by Prechter---I did that only in Feb 2011---
DeleteRaghuji can you please lebel wave iv as it was quite complicated. Regards.
ReplyDeleteIt was a double zig-zag. Read my yesterday's post. Rest I shall be doinng today EOD
DeleteThank you very much sir.
ReplyDelete@avinash ati
ReplyDeletejust saw ur q now. answered by guruji . good for all readers.
guruji,
if 3rd not extended and 4 th enters 1st diagonal. diagonal
rules apply. if 4th not extended then 5th extended in very high
probablity. wow what scientific deductive process to pin on
right alternative amazing
e lo !!! kuchh amazing nahi hai--- sab likha hua hai----
Deletehonestly i have read pretcher twice i dont remember guruji,
ReplyDeletemay have overlooked :-(
This was a double bottom pullback
ReplyDeleteguruji
ReplyDeleteone of waves extended is guideline so very high probablity.
still there has been cases (i remember u pointed once) 5 waves
without extension.
5161-5196 35
5161+1.62*35=5218.
can there be a probablity of downfall getting over if this comes
min 0.62 of wave 1 over at 5161 already
ReplyDeleteIlango suggesting 5 waves completed. Raghuji your comments.
ReplyDeleteMy comment is"apply your mind and donot try anything like this again----
DeleteSorry Raghuji will not repeat. Regards.
ReplyDeleteChillax---- use us for learning---Ilangoji is great.
Deleteok guruji got it
ReplyDeleteITNA SANNATA KYUN HAI BHAI..
ReplyDeleteguruji
ReplyDeleteed forming from 5161 probable end 5213??
if waves not subsumed in 5161-5212 rise
ReplyDeleteguruji in 1>3>5 diagonal if 3 is .62 of 1 then 5 wud probably
ReplyDeletebe .38?? hope i am not bothering u with so many q?
This comment has been removed by the author.
DeleteRaghuji please answer the question of PS in your comfort. Regards.
ReplyDeleteLargest number of comments today :) Hope participation like this continues and the interaction increases.
ReplyDelete