Continuing from yesterday:
Yb in play as Flat ABC
A=4789-5020
B=5020-4770
C=4770-5059*
Has so far done:
C1=4770-4898=128
C2=4898-4848=50
C3=4848-5059*=211(165%)
Thus minimum for C3 has been done.
C4 ,whether begun or not, would be confirmed by a tick below 4984.95. But first indications would be given by ticks below 5038 and Hourly close below 5Hr Low EMA. One can use the Stochatic & MACD crossovers also for initiating short positions with SL at yesterday's high.
Target for C4 would be 50-62% retracement of C3=4930-4955 zone
10.00 AM.png)
.png)
How momentum has reversed--just compare current position with morning pre-market chart
Trailing Stop loss for shorts now at 5026
.png)
a=5059-5013
b=5013-5039
c= doing a diagonal
Target 1 is 4986
3.00PM
Absolute googly.
Trailing Stop loss hit---
:-(
.png)
Completion of 5 wave and trendline resitance is making me go short again--
.png)
While broadly labels are getting followed,internal fractals are missing their mark----
Was expecting a deeper C4 but Trailing Stop loss got hit and I was not fast enough to go long---
Gone short again at closing time---
.png)
Raghu
Guruji
ReplyDeletePranam !
Nagraj ji ka kal ka analysis nahi mila.
Hope he is in pink of health and mood.
Nagraj is enjoying his vacations--
DeleteGuruji,
ReplyDeleteMay you help me in understanding the number 4984.95 . How you got this number.. Thanks in advance
Ranga
Rangaji,
DeleteDay before yesterday,the last trading hour's low.
One has to assume it as end of subwave 4 of C3.
In normal cases where 2nd wave has retraced 60-75% of Ist wave,4th wave goes upto 4th subwave of 3rd.However in current scenario,as C2 had retraced hardly 40% of C1,I expect C4 to not only go below 4984 but do a minimum 50% retracement of C3 i.e go upto 4950
Thanks Guruji.. Going by market , i still doubt whether C3 is completed yet.. I feel that C3 may complete around 5075-80 levels.. Your take ? Could not find the right spot to create positional short at this point..
DeleteAs 5059-5013=46 was an impulse
Delete5013-5039 was its retracement
5039 down is again an Impulse or diagonal
If it crosses 5008,C3 confirmedly over.
Guruji - Hit the nail @ right place.. Great..
DeleteGuruji - Are we playing C3 or C4 .. I thought that C3 is not over yet.. Correct me if i am wrong..
DeleteOh Sorry..Just now checked the graph.. C5 is playing out right..
DeleteThis comment has been removed by the author.
ReplyDeleteSir
ReplyDeleteI personally feel 4 was completed at 5007
5042-5007 was 3 wave and it did a minimum percentage wise
and now we are in 5 which should do a minimum of 5135!!!
5042-5007=35 retraced 4848-5042=194 and did the minimum----??
Deletesorry,I cd not understand.
However one is always free to "feel personally"--
Sir!
ReplyDeleteI covered shorts at 5015, will sell again below 5007 as it will confirm ur 3rd wave over there.
Booking part profits is always good.
DeleteAlternatively,one could keep a trailing stop loss at 5039.15
Thank you sir
DeleteSir!
Delete5007 broken so sold again @5010 with stoploss of 5040.
Thank you sir for updating new stoploss @5026.
DeleteSir!
Deleteclosed shorts.
should shorts be closed?
ReplyDeleteSir already gave trailing stoploss of 5026, no doubt & i closed immediately & gone long which i booked now at 5075.
DeleteSL for shorts was mentioned at 5026
DeleteGuruji,
DeleteGoing by the current recovery why can't "Yb" break the trend line upside..
If it goes the same speed then it can break then i would expect C1 = C5.i.e 128 points.. ==> 4986(C4) + 128 = 5114
Note:: I am an amateur ...Don't mistake me if iam wrong..
Would like to watch monday morning and then short again based on movement..
Thanks,
Ranga
Oh sorry sir, i somehow missed it. I am holding shorts and am looking forward to see what happens on monday. I hope that I get an exit.
ReplyDeletehan guru ji i shorted..in last min..
ReplyDelete