Hello Traders,
mission accomplished! A new ATH for NIFTY50!
Today, N50 set a new ATH @ 18678.10 on an intraday basis! This was inline with my forecast!
This high could be also complete a wave (5) of ((5)) of iii?!
In this case, a corrective setback should be next within a wave iv and retrace 38.2% (the most common retracement for a wave iv)! The second rule for a wave iv of any degree is, that they like to “come back” to a wave 4 of one lower degree. In this case, a target-range should be at or around 18451-18133, including the possible wave (B) high!
If today's high was not wave iii, the odds would favor an extending wave v, and we just have seen a wave (1) of v! The targets for this scenario ranges to new ATH`S in the coming weeks; shorthand to a range of 19153 (rectangle)!
So, the range has been set!
But keep in mind! The day come closer, where it would be allowed to short N50!
Have a great week....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
mission accomplished! A new ATH for NIFTY50!
Today, N50 set a new ATH @ 18678.10 on an intraday basis! This was inline with my forecast!
This high could be also complete a wave (5) of ((5)) of iii?!
In this case, a corrective setback should be next within a wave iv and retrace 38.2% (the most common retracement for a wave iv)! The second rule for a wave iv of any degree is, that they like to “come back” to a wave 4 of one lower degree. In this case, a target-range should be at or around 18451-18133, including the possible wave (B) high!
If today's high was not wave iii, the odds would favor an extending wave v, and we just have seen a wave (1) of v! The targets for this scenario ranges to new ATH`S in the coming weeks; shorthand to a range of 19153 (rectangle)!
So, the range has been set!
But keep in mind! The day come closer, where it would be allowed to short N50!
Have a great week....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!