A positive Break out as expected happened in nifty. Wave count on daily chart as requested by viewers added here. I am not confirming this count as the perfect one, I agree that there are many alternatives, kindly read this as a study material. Friends those who disagree some points about 4th wave in monthly chart do not worry, you may be right too. . Wave count on daily chart as requested by viewers added here. I am not confirming this count as the perfect one, I agree that there are many alternatives, kindly read this as a study material. Friends those who disagree at some points about 4th wave in monthly chart, you may be right too.
4th wave has not yet completed according my views. Just my view.
padiyara
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@Yogi_sharma, There are many different count possible, Although Wave 4 has no minimum time constraint, the maximum time for Wave 4 is twice the time taken by Wave 3.
by that rule we still have enough time. retracement remain satisfactory at 38.2% of wave 3. yet another rule says,To expect the time taken by Wave 4 to be between 100% - 270% of the time taken by Wave 2. That means wave was 73bars in 107 days. wave 4 if end at 1004 on Oct 26 satisfy this rule, nearly taken at the max 270%.
your views are welcome.
yogi_sharma_elliottician
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@padiyaraa, Well, time period isn't a rule I guess, it's just a guideline, nevertheless, this was a good piece of information for me. In the end learning matters. Thank you :)
And btw, I am talking about the fourth wave in C (from 11750 to 10004) .