OANDA:USDINR   U.S. Dollar / Indian Rupee
443 11
wave counting as per me on daily chart

of course there are multiple alternate counts , i prefer this count

Destiny will tell us which is the correct wave

my previous count on us dollar inr was this

although i expected to depreciate heavily - presently i think wave 4 is not yet over

comments welcome , Please do enlighten further with your comments

critics welcome !!
Comment: Around 66 , we should be getting the target for Wave C or the end of wave 4
Comment: Please do correct the placement of wave 3 as shown below

Comment: fridays dollar move makes the chart invalid - kindly stop using the above chart
There is a small correction in placement of wave 3 which i have furnished below

i am a follower of ramki's five waves of financial freedom , and my inferences are based on his book - Five waves of financial freedom;

Of-course i have the right to be wrong in my analysis . to err is human
Let me tell you the steps in the daily chart

1) a significant high was formed on 23/11/2016 as shown in the chart below , it was easy to spot wave 1 and wave 2 . wave 2 retraced deep 78.6 % & it appears as a simple correction
The price range of wave 1 was 1.660
joel-vg joel-vg
where should we place end of wave 3 ?

Your main clue should be the volume and momentum. Third waves should have a personality that stands out from the first wave.
This is especially so when the price is falling!
So you should choose a lower point if it appears that the price continues to fall at the same speed as before any interim recovery.

There is a small correction in placement of wave 3 if you compare with the previous chart . i feel the present placement is most appropriate
joel-vg joel-vg
Was wave 3 extended & how much was it extended ??

wave 3 was extended more than 162 %

joel-vg joel-vg

infact wave 3 was extended more than 262 % , So whenever wave 3 is extended more than 162 % , we should expect wave 4 to be shallow especially when wave 2 was deeper , these are just guidelines , but we will be lucky if the guidelines takes a similar turn. also since wave 2 was simple , we expect wave 4 to be complex correction

joel-vg joel-vg
What are the wave 4 retracement values expected ??

38 .2 % retracement comes to 65.57
50 % retracement comes to 66.1

Here are the charts

joel-vg joel-vg
Now we will concentrate on WAVE C

within wave C , price range for wave 1 was 0.97
wave 2 went deep to around 78.6 % retracement

& here are the charts for wave C

ALSO to remember wave 2 was a simple correction

joel-vg joel-vg
Also to note here that ,
Wave 3 was extended
wave 4 has retraced to 38 % which is 64.59 which is reached and which was a complex correction

here are the charts

joel-vg joel-vg
Now if we anticipate wave 4 to be completed now then how to evaluate wave 5 ?

One such way is to measure the distance traveled by waves 1 and 3 and checking to see if wave 5 equals either of those.

within wave C , price range for wave 1 was 0.97

so if we add 0.97 from wave 4 , we should see the end point of wave 5 --------==64.6 +0.97 = 65.57


Then around 65.57 , we should see the completion of WAVE 4
joel-vg joel-vg
small correction in above statement

38 % retracement of wave 3 comes to 65.4

50 % retracement comes to 66
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