Can we expect quick pull back to 36300 this week? I suspect wave (5) of wave 5 is about to end, This set-up gets invalid if it breaks the previous low of 33001 Lets wait for market to unfold
This is the edge we are looking for in share market
Good study . Pl educate as when a wave gets completed . What is the thump indicator for this . Once a wave completes , one can trade better on the right side of the market . Which time frame is the best to determine the wave completion . Is the Fibonacci levels or some thing hidden .Also moving averages has any hind . Pl do reply in details . Thanks & regards.
nextwaveturn
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@JagdishKumarPahuja, Thanks for your comment, There is no hidden secrets in the market. Its always experience and judgement with proper RR ratio. So, i will explain my thought process to derive this judgement (Im not sure still if my judgement is perfect, but i have proper RR ratio (650:3000) to commit my money on it I observed, wave 5 is getting extended when i measured internal waves of wave 5- Internal wave 5 is 61.8% measure of internal wave 1-wave 3 which is important Fib ratio for wave 5 end, i also understood global cues are showing some positive approach. so i decided to make my mind that the retracement would happen here. As its wave 5 extended, so the retracement will be sharp and quick. Hope this helps
Pl do reply in details . Thanks & regards.