1.According to the chart, Standard Deviation Channel fits very well in giving us a geometry of the market structure.
2.Incorporating EW with timeseries dominant cycle, the uptrend cycles are lasting around 425 weeks before the correction occur which takes 60 and 120 weeks as an harmonic cycle.
3.EMA50/200 Golden Cross and Death Cross does confirm the impulse and corrective wave count. If this primary cycle of EW is correct, we are currently in a 5th wave of the whole cycle since late 1998. The next Death cross would be very crucial for this hypothesis as it might be a leading indication that the last impulse has ended before the invalidation level is broken.
This chart analysis is merely focused on giving you a sense of a macro-picture of SET INDEX...
Well a bit for a short term tips from this chart is that the 50 EMA seems to be important here as it keeps rejecting the seller for months even during this week as well.
Hope you have a great day!
2.Incorporating EW with timeseries dominant cycle, the uptrend cycles are lasting around 425 weeks before the correction occur which takes 60 and 120 weeks as an harmonic cycle.
3.EMA50/200 Golden Cross and Death Cross does confirm the impulse and corrective wave count. If this primary cycle of EW is correct, we are currently in a 5th wave of the whole cycle since late 1998. The next Death cross would be very crucial for this hypothesis as it might be a leading indication that the last impulse has ended before the invalidation level is broken.
This chart analysis is merely focused on giving you a sense of a macro-picture of SET INDEX...
Well a bit for a short term tips from this chart is that the 50 EMA seems to be important here as it keeps rejecting the seller for months even during this week as well.
Hope you have a great day!