Missing the jungle in the woods is quite common.
We get so much engrossed in intra-day & day-to-day labels and 5 minute & Hour charts that it becomes quite easy to miss the larger picture.
Now that we are on a 4 month old trendline, we must have a relook at our higher degree Counts.
I had mentioned in Special Updates Section,on 30-03-2012:
Obviously the current status is different---the retracement to Diagonal(6339-4531) labelled ABC wherein A=4531-5629=1098; B is still playing(as per my labels) as WXY and C has to begin.
Just trying to go into the details of the Diagonal 6339-4531:
One difficult part of it was wave 4=5178-5944 ending at 5740 as a running flat
And once this issue was resolved,we moved into wave 5 of the diagonal(6339-4531) from 5740 downwards.(which in itself is being seen as an ending diagonal with sw1>sw3>sw5)
And here I encountered the most difficult part to resolve:
The closest I came to this resolution was to treat this sw2=4720-5400 as WXY where W was a running flat:
.png)
.png)
One lacuna in this running flat W still remains.And that is c=0.613*a instead of the minimum 0.618*a
I would try to take up other Probable Counts in my next post.
Raghu
We get so much engrossed in intra-day & day-to-day labels and 5 minute & Hour charts that it becomes quite easy to miss the larger picture.
Now that we are on a 4 month old trendline, we must have a relook at our higher degree Counts.
I had mentioned in Special Updates Section,on 30-03-2012:
Obviously the current status is different---the retracement to Diagonal(6339-4531) labelled ABC wherein A=4531-5629=1098; B is still playing(as per my labels) as WXY and C has to begin.
Just trying to go into the details of the Diagonal 6339-4531:
One difficult part of it was wave 4=5178-5944 ending at 5740 as a running flat
And once this issue was resolved,we moved into wave 5 of the diagonal(6339-4531) from 5740 downwards.(which in itself is being seen as an ending diagonal with sw1>sw3>sw5)
And here I encountered the most difficult part to resolve:
.png)
.png)
I would try to take up other Probable Counts in my next post.
Raghu
Dear raghu,
ReplyDeleteVery nice to see a broader counts and views.
I closed all my position and awaiting the coming week with no clues of what to do, excepting that Friday close was bullish. Awaiting a correction phase to start by mid week.
There is a positive consensus of further upward move doing the rounds now and I believe the dangers of consensus might trigger off a correction is an understanding of a novice .
I am sure your EW theory will throw more light in the coming week. Awaiting your next post
Thanks as always.
Awaiting your next post.