Can a Diagonal be truncated?
Yesterday I had written:
Q
The upmove from 4789-4956=167 has got retraced by 91%. Theoretically possible but normally more than 80% retracement causes concern at labels.
Also,the labels of this retracement as
a=4956-4881=75
b=4881-4906=25
c=4906-4804=102 look within guidelines but this c's internal fractals were not very convincing.
UnQ
And the most convincing labels for c(started from 4906 downwards) were projected as:
.png)
For c to be a perfect diagonal,three conditions had to be fulfilled:
1.Overlap with wave 4906-4850;
2.Not going above 4875.05;
3.The last subwave doing more than 70.8( so that sw5>sw3>sw1);
while Ist two conditions were satisfied, the third one wasn't. And how could it be? For sw5 to be more than sw3, sw4(from 4804 upwards) should have done minimum 4861 which it hasnot so far----
So to me, most important level to watch today is 4875.05
A tick above it would mean we are well on our journey to 5130.
Otherwise, probability of going below 4804 once again would be very much alive( and I must mention again that probability of going below 4789 is minimal).
.png)
.png)
11.40AM
4875 gone---
balle balle to bulls---
Buy into all dips now---
12.10 PM
Power back-up failing so may not be able to post again today.
My target remains 5130 and how we reach there is difficult to say at present.
Best of luck to all of you.
Yesterday I had written:
Q
The upmove from 4789-4956=167 has got retraced by 91%. Theoretically possible but normally more than 80% retracement causes concern at labels.
Also,the labels of this retracement as
a=4956-4881=75
b=4881-4906=25
c=4906-4804=102 look within guidelines but this c's internal fractals were not very convincing.
UnQ
And the most convincing labels for c(started from 4906 downwards) were projected as:
.png)
1.Overlap with wave 4906-4850;
2.Not going above 4875.05;
3.The last subwave doing more than 70.8( so that sw5>sw3>sw1);
while Ist two conditions were satisfied, the third one wasn't. And how could it be? For sw5 to be more than sw3, sw4(from 4804 upwards) should have done minimum 4861 which it hasnot so far----
So to me, most important level to watch today is 4875.05
A tick above it would mean we are well on our journey to 5130.
Otherwise, probability of going below 4804 once again would be very much alive( and I must mention again that probability of going below 4789 is minimal).
.png)
.png)
4875 gone---
balle balle to bulls---
Buy into all dips now---
12.10 PM
Power back-up failing so may not be able to post again today.
My target remains 5130 and how we reach there is difficult to say at present.
Best of luck to all of you.
guruji,
ReplyDeletebahut sochne par bhi 4861 nahi samajh nahi aa
raha
Daarling---sw5 of c had to do more than 70.8 say 71
DeleteBut the retracement could not go below 4789.
4790+71=4861-----
:)
ok guruji samajh gaya. :-) main soch raha tha ki y frm 5342 will take form of zz.(ist 5 wave down) so zz can have an irregular flat in its b wave. but this b wave is also taking form of zz shown by one
Deleteset of 5 waves ao 4789 will be invalidation of whole
y count. 2nd sentence of yb may be zz but not irregular flat struck me just now :-)
par guruji zz guideline broken by more than 80 % retrace too
DeleteThis may well be sw3 of A of ZZ--
Deletepl don't rush---
ok guruji
Delete