- This is a chart for USDINR spot.
- I trying to count a possible pattern of double three in this 2 and 1/2 yr up move in USDINR from early 40s.
- The first leg was a 3 wave move, followed by an [X] wave.
- The price pattern after the [X] wave may be counted as a neutral triangle (Courtesy Neowave).
- Which means wave [C] should be the longest of wave [A], [C] and [E].
- The wave [B] was a drawn out affair in time, but price wise it did not make an impact, where as the possible wave [D] is sharp so far, and may reach 58.74 odd levels, before it is done with, providing us with clear alternation in price, time and the pattern formed or construction.
- Wave [E] should be short and sweet, and a sharp down move should follow once it is done.
- Now I am only learning Neowave, and there may be mistakes in my analysis, which I will be glad to correct upon pointed out.
- But the purpose of this analysis is to provide us with a broad possibility, or a broad road map, to guide our trading activities on shorter fractals.
lets wait even i am not sure and i am not wizard like you in E.W. but right now i can say u r wrong
ReplyDeleteThanks for the comment.
DeleteRelying on intuition is the best way of dealing with uncertainty. I would appreciate though if you could share your insights as and when they occur to you.
Regards
Aniruddha
From my perspectice, the first three segments oft could be considered as an abc Zigzag, which builds wave (A) of an Zigzag in itself on an higher degree. Due to the minimum retracement of the (B), wave (C) must be larger in time and price, meaning we're going to face new highs soon.
DeleteCesare