Today,31.3.2012, I look at these labels and feel a bit embarassed. It contains a very common mistake that many EW followers commit. Labelling ABC as a zig-zag wherein A is a 3 wave form.
But I donot expect it to cross 5460.
Why?
Because the upmove started from 4531 is being seen as follows:
Now as we move towards the last leg of the upmove,I have conviction to state that today's action would follow following pattern:
So far 5(started from 5078) of Upmove (from 4531)has done:
(i)=5078-5290(212)
(ii)=5290-5226(64)
(iii)=5226-5390(164)
(iv)=5390-5325(65)
(v)=5325-5380*
This (v) can not be more than (iii) so maximum it can do is 163+5325=5488;
Also for a proper wave form, this (v) has to be of a length wherein (i)=1.62*(v).
So (v) can be,at the most 130.5.
Thus maximum length for (v) comes to 5325+130.5=5455
Raghu
But I donot expect it to cross 5460.
Why?
Because the upmove started from 4531 is being seen as follows:
Now as we move towards the last leg of the upmove,I have conviction to state that today's action would follow following pattern:
So far 5(started from 5078) of Upmove (from 4531)has done:
(i)=5078-5290(212)
(ii)=5290-5226(64)
(iii)=5226-5390(164)
(iv)=5390-5325(65)
(v)=5325-5380*
This (v) can not be more than (iii) so maximum it can do is 163+5325=5488;
Also for a proper wave form, this (v) has to be of a length wherein (i)=1.62*(v).
So (v) can be,at the most 130.5.
Thus maximum length for (v) comes to 5325+130.5=5455
Raghu
Dear Raghu ji,
ReplyDeletebasic query... kindly oblige. What wave structure is the nifty expected to take after this X(comprising of A1,B1,C1)gets over below 5620.
Thanking you in advance
Regards
Dear K,
ReplyDeleteWhat follows W-X is Y.
Y is also a 3 wave form and these three can be termed A2,B2 & C2 for convenience.
While C2 will either be a 5 wave Impulse or Diagonal;
A2 can be a 3 wave or a 5 wave and
B2 a 3 wave form.
Raghu
Dear Raghuvanshi ji,
ReplyDeleteThank you very much for your prompt
reply.Does this wave structure from 6338 levels comprise the 5
wave format WXYXZ or are there any variations to this?
Thanking you in advance.
Regards
Dear K,
ReplyDeleteI believe in not rushing.so only WXY for now.Baaki when we come closer to Y end(of course if our reading of X stands correct).
thanx for update guruji.
Deleteguruji, request u to remove word verification from both blogs.
u can always
put it back if any problem occurs.