SENSEX reached c4 position which is below c1 trough(27488). good time to short the market.the target levels also clearly mentioned.Forecasting target is very simple in ELLIOTT wave.c5 may be any of the fibenocci number(0.382,0.5,0.618,0.786,and1.0)
1stly..i dont this as a clean 5 wave structure..primarily because of overlapping and NOT a clean 3rd wave.
Can you look at an alternate of A-B-C from the highs of 8969..where C = 1.62 times A ? :)
Reversal from 7894..either as a 5th from 44XX OR 1st of Major 3rd of 3rd OR X..
selvamB
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@raghavendrakumart,
dont worry about scalping .tomorrow is the last day for u.s option expiry ,more consolidation more pain
selvamB
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I request members to discuss my view for both education and trading purpose
Thank you
raghavendrakumart
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The form of the fall from 8969 is clearly NOT a 5 wave EW.
selvamB
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@raghavendrakumart,
Thank you
C1 has 5 waves
C3 also has 5 waves and exactly follows 1.618 of C1.
Now you can clearly see a 5 wave non overlapping down trend
1stly..i dont this as a clean 5 wave structure..primarily because of overlapping and NOT a clean 3rd wave.
Can you look at an alternate of A-B-C from the highs of 8969..where C = 1.62 times A ? :)
Reversal from 7894..either as a 5th from 44XX OR 1st of Major 3rd of 3rd OR X..