- Again posting the the main guiding charts:
And I wd like to recall yesterday's conversation with YG123"Raghuji,ReplyDelete
Namaskar! As per current labels sw3 did 155% of sw1. Does this mean we should expect the 5th to be extended and do a minimum of 162% of 1st? If so, then the following corrective expected to entirely retrace extended 5th?
Thanks -
Very good question YG !!!!
Even otherwise I was going to take it up in my next post--
logically what you have asked has only one answer--as one of the 5 waves has to be extended i.e do more than 1.618 so if not 3rd then 5th but think deeper,and it has happened earlier also,3rd can be extended not only vis-a-vis 1st but also vis-a-vis 5th. The option of 5th getting extended becomes less favourable as the long term trendline doesnot have enough room for it.so For 3rd=5095-5333=238 to be extended vis-a-vis 5th(5258 upwards),5th should not be more than 147 .
This gives the max for the current upmove=5258+146=5404.
And minimum has been mentioned already as 5353.
:-)
(Please use your own discretion and pet TA tools also before accepting these suggestions at their face-value)
And then what would be the targets for this Corrective ?
Probability 1:
If we take this Corrective to be retracing the 5 wave Impulse 5041-5400* then breaching 5200 looks difficult and our Prospective labels would become:
C1=4770-5190=420
C2=5190-5041
C3 as extended to do 420*1.62=680=5721 as a 5 wave form
sw1=5041-5400*
sw2*=5400-5200
sw3*=5200- upwards
Probability 2:
If we consider the Probability of C from 4770 upwards doing a 3x3x3x3x3 diagonal then at 5400* we would have done only C1=4770-5400* as a 3 wave form:
sw1=4770-5190=420
sw2=5190-5041
sw3=5041-5400*=359
Then this retracement from 5400* would be much deeper and labelled as C2 likely to go below 5041.
Being a Conservative, I would move gradually and expect the confluence of blue & orange TLs in following chart to be a good support:
Although I am still hopeful of a visit above 5353 but a tick below today's low wd make me lose that hope and ride the bear-mail immediately.
Till then I see the following:
Raghu ji:
ReplyDeleteNamaskar and Good morning!
On a larger degree,
A: 4531 - 5630
B: 5630 - 4770
C: 4770 - 5348*
I have an academic query out of curiosity. if the current C were to be part of a contracting triangle ABCDE, could C still be 3x3x3x3x3 diagonal? Or ABCDE all have to be 3 wave forms? Is such a triangle possible in the present case? Again, this is just for academic purposes and it may not be the right question at the current time and market conditions.
And you probably know why this question
:-)
Thanks
A=4531-5630
ReplyDeleteDo you see it as a corrective 3 wave form?
I donot so to me this question is still-born.
And academics,if it is not leading to monetary gains in market,is a wasteful exercise to me. Academicians should logically go to schools & colleges as they derive more pleasure in "pure" discussions and not in "applied" form of it.
I am into analysis for making money in markets and not for discussions sake per se--- and we are part of a FB group which believes "too much analysis leads to paralysis"---if you are Yogesh Goswami,you would know it.
I look for trade set-ups and if my TA/EW is not helping me in it,I would rather dump it and find some other means to make money---
HHHHHHHH
DeleteI am with you. The purpose is to earn money only. Academic hat is put on at times to grasp/sharpen the concepts which I am still learning. And that too purely to exploring possibilities for trade set-ups. :-)
Thanks
:-))
Deleteguruji
ReplyDeleteis the 4th doing irregular abc