nifty analysis
Let us now Look at the CURRENT WAVE STRUCTURE and understand what is going on.
The current wave Labelled as 1/5, has been marked as I see best, where in to understand the outcome of this current wave playing out, ONLY 2 possibilities exist for its retracement.
1. That we have completed the LARGER 1 of 5, and are currently in wave 2 of 5. So how must we know what the RETRACEMENT will be and to what extent ????
2. That Current wave 1 is complete and wave 2 down has commenced.
The answers to the above are as below.
1. Assuming that wave 1 has not completes yet, the retracement will be upto the level of subdivided iv low as shown in the chart.
1. IF and only IF we have indeed completed Larger Wave 1 of 5, then the Larger wave 2 down will be a slightly Bigger retrace. What does EW theory say ???? Most wave 2 down usually retrace upto 38% of wave 1 and OR in the worst case scenario upto 50-78.3% of the entire Rise of wave 1. Hence to take out that figure all you need to do is draw your fibonachi level from the Lows of 15230 odd upto 17992 and you get the retracements. This would aslo mean as per EW, that wave 2 CANNOT ENTER the TERRITORY of wave 1, hence if indeed we are in a Larger wave 2 down, this retracement MUST and HAS TO STOP at the HIGH of minor 1 as shown in the chart
The current wave Labelled as 1/5, has been marked as I see best, where in to understand the outcome of this current wave playing out, ONLY 2 possibilities exist for its retracement.
1. That we have completed the LARGER 1 of 5, and are currently in wave 2 of 5. So how must we know what the RETRACEMENT will be and to what extent ????
2. That Current wave 1 is complete and wave 2 down has commenced.
The answers to the above are as below.
1. Assuming that wave 1 has not completes yet, the retracement will be upto the level of subdivided iv low as shown in the chart.
1. IF and only IF we have indeed completed Larger Wave 1 of 5, then the Larger wave 2 down will be a slightly Bigger retrace. What does EW theory say ???? Most wave 2 down usually retrace upto 38% of wave 1 and OR in the worst case scenario upto 50-78.3% of the entire Rise of wave 1. Hence to take out that figure all you need to do is draw your fibonachi level from the Lows of 15230 odd upto 17992 and you get the retracements. This would aslo mean as per EW, that wave 2 CANNOT ENTER the TERRITORY of wave 1, hence if indeed we are in a Larger wave 2 down, this retracement MUST and HAS TO STOP at the HIGH of minor 1 as shown in the chart
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.