USDINR 25 June 2013: A Short Term View

The chart below depicts the likely move tomorrow (expectedly in the opening couple of hours) as a follow up on my yesterday's post USDINR 24 June 2013 : Getting Ready for a Slide

Here is the chart....

USDINR 24 June 2013 : Getting Ready for a Slide.

The charts below will narrate the story for USDINR......

 EW Counts

1	51.365	-	55.875	=	-4.51
2	55.875	-	52.89	=	2.985		-66.1863
3	52.89	-	59.977	=	-7.087		157.1397
4	59.977	-	58.33	=	1.647		-23.2397
5	58.33	-	62.71	=	-4.38		97.11752

 These counts are indicative from 4 onwards.  Otherwise, 4 can do anything upto 50% of 3, which is 3.54.  5th however, must not do more than 4.37 as in that case it would render 3rd as unextended.  This would necessitate that 5th itself becomes an extended wave and 5th would require to do atleast 7.3 points from wherever it starts. Other important and conservative possibilities are :



1.

4	59.977	-	57.27	=	2.707		-38.1967
5	57.27	-	61.65	=	-4.38		97.11752

 2.

4	59.977	-	56.44	=	3.537		-49.9083
5	56.44	-	60.82	=	-4.38		97.11752

 APFs

 Some Imaginations - The Wild Ones

Expected Price points -   The chart below shows the expected price points for the correction.  The first two are possibly done....