above 8949 will go to 8972 _8995 & 9034
will see a correction on completion of wave v
Weekly above 8973 go to 9030 _9096
monthly above 9040 it can go 9130 & 9290
I was knowing that, a small mistake will generate lot of doubt.
so, keeping mind, all that, I have taken extreme care to put digits
8840 is 38 % projection of wave 3
ie: 8540+ (490 x.618) = 8542 approx:
Above 62% projection, it is considered
as extended wave and correct very swiftly
when in it falls
I miss few points every time...be with me
And 8860 is a pivot low, having other importance.
ie: 8540+(490x0.618)= 8842
Your expectation is right, when we are on top of a wave v, but it is not safe to trade against the trend.
so be watchful for a reversal to take short positions is the best way in trading.
I get the point that ideally we should wait for the reversal but I am asking from standard Gap theory viewpoint. what's the general theory, do you know?
That is definite.