Any move above 122 & sustains then I shall look for respective wave-iii in purple or if it falls & sustains below 116-117 zone -it could indicate that rally was the b - wave in wave-ii (purple)- which is alternate waves.
In that case we could travel close to 80-85 zones
Trading Strategy Wait for market direction
Previous Analysis- Rocket Move from 107-108
GSFC 2016 Diary
Trade active
⋅
14:28 Hrs 20th Jan2017
Is ((b)) wave done at 121.50 highs just below 122 as suggested above.
Comments
munna907
⋅
How can b wave of corective wave ii (as u expect) can retrace beyond an impulse wave i , i think it must be wave iii.....
WaveTalks
⋅
@munna907, It is an irregular wave- which always exist in markets to confuse traders.
WaveTalks
⋅
@AbhishekHSinghCMT, only sustained move above 122 will start giving us clue that is wave-iii