Monday, May 10, 2010
nifty_EW follow up
It seems like c5 started and will end up soon
but must be in a corrective pattern.
We may see 5400 before expiry.
Earlier 4952 (c of C4 = 1.618 of “a” of C4 comes 5342 – 240x1.618= 4952 )
& now both way crossing the channel is the negation points for this count.
ie: it should not go, below 4984 and above the top trend line for completing c5.. say B.
Let me recite some part of my lessons yah..
there is no absolute in EW but only alternates..
several radically different counts are possible from a same price action…
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