could it be possible that larger degree 3 (black color) itself ended at 69.25? The probable labels could be: blue a renamed as black 2. blue b renamed as 3.1 blue e renamed as 3.2 3.3 replaces current 3.1 3.5 possible at 69.25
I am sure you would have considered and ruled out these labels. I am keen to know what makes them invalid.
YG ji, the count you are proposing is the one I was following till 65.96. At 65.96, its 3.3 as well as 3.5, both became extended, which is not acceptable and hence I am now ruling out this possibility. Apart from this, if you notice, the MACD aka BEBO has negated all negative divergences. That indicates that the 3rd is still in progress.
There is another possibility of this entire move from 43 progressing as an ED. If the price action does not meet the requirements mentioned in the chart, this one will hold. 48 in that case will be coming in a hurry. A tick below 58.6 should be an alarm for this.
SF ji,
ReplyDeletecould it be possible that larger degree 3 (black color) itself ended at 69.25? The probable labels could be:
blue a renamed as black 2.
blue b renamed as 3.1
blue e renamed as 3.2
3.3 replaces current 3.1
3.5 possible at 69.25
I am sure you would have considered and ruled out these labels. I am keen to know what makes them invalid.
Thanks,
yg
YG ji, the count you are proposing is the one I was following till 65.96. At 65.96, its 3.3 as well as 3.5, both became extended, which is not acceptable and hence I am now ruling out this possibility. Apart from this, if you notice, the MACD aka BEBO has negated all negative divergences. That indicates that the 3rd is still in progress.
ReplyDeleteThere is another possibility of this entire move from 43 progressing as an ED. If the price action does not meet the requirements mentioned in the chart, this one will hold. 48 in that case will be coming in a hurry. A tick below 58.6 should be an alarm for this.
The counts which became invalid:
ReplyDelete51.365 - 55.875 = -4.51
55.875 - 53.64 = 2.235 -49.55654102
53.64 - 61.53 = -7.89 174.9445676 extended
61.53 - 58.6 = 2.93 -37.1356147
58.6 - 69.225 = -10.625 235.5875831 extended
The count I am following for now...
ReplyDelete60.24 - 65.561 = -5.321
65.561 - 63.205 = 2.356 -44.27739147
63.205 - 69.225 = -6.02 113.1366285
69.225 - 66.535 = 2.69 -44.68438538 in progress/over
66.535 - 70.22 = -3.685 69.25389964 projection
The count above, is part of the following count:
58.6 - 61.905 = -3.305
61.905 - 60.245 = 1.66 -50.2269289
60.245 - 69.225 = -8.98 271.709531 in progress