Primary : wave 4
Intermediate : wave C
Minor : wave 5
Target zone for Minor 5
@49.55 : 100% extention of intermediate A from B top
@47. 05 : of primary wave 3
@44.35 : 123.6% extention of intermediate A from B top
If price goes below 44.50 then it would invalidate this count,as wave 4 cannot enter wave 1 zone.
Confirmation Sign's for end of primary wave 4:
1)Further from here in the target zone box if we get a reversal candle in the form of , pericing,
2)This should be followed by a close above it's high on the next day would suggest end of primary wave 4
3)Additional confirmation would be in the form of breach of upper channel band along with
4)An momentum divergence on or
5)Price crossing and closing above 10 day .
If above scenario occurs one can get long with the closing stop of low made on the reversal candle in the target area box.Target for primary wave 5 on the upside through wave 1-3 extention from wave 4 low's is coming @ 72(38.2% extention) and 86(61.8% extention)
Impulse count or labelling shown here is done by following basic impulse rules.