EW from 5033 with Macd( 5 34 5)
For the move from 5033-5448 , We may have done 1st corrective A at 5255 today as this is a 5 wave , probability of this corrective to be ZZ is there , and now B is on which should be 3 waves in all followed by C which will be 5 waves .Retracement for this B can be
Trade plan :
Buy as close to 5255 as possible for B wave up or If RR does not favor then , wait out and
at 61.8% 5374 to 73.6% 5397can be a good entry for shorts with 5410 SL ( more than 80%) .All this provided 5255 is not broken .
Trend :
Close at 5315
Hour trend turns up with momentum , with a close above hour high ema 5305
Day Ema at 5331 , Day high ema at 5365 .
Weekhigh ema 5376 can act as resistance , for this upmove if it is B and As long as 5255 is not broken towards down .
For the move from 5033-5448 , We may have done 1st corrective A at 5255 today as this is a 5 wave , probability of this corrective to be ZZ is there , and now B is on which should be 3 waves in all followed by C which will be 5 waves .Retracement for this B can be
| From | To | Fall/ Rise | 0.00236 | 0.38 | 0.5 | 0.00618 | 0.00736 | 0.008 |
| 5448 | 5255 | 193 | 5300.548 | 5328.34 | 5351.5 | 5374.313 | 5397.048 | 5409.4 |
Trade plan :
Buy as close to 5255 as possible for B wave up or If RR does not favor then , wait out and
at 61.8% 5374 to 73.6% 5397can be a good entry for shorts with 5410 SL ( more than 80%) .All this provided 5255 is not broken .
Trend :
Close at 5315
Hour trend turns up with momentum , with a close above hour high ema 5305
Day Ema at 5331 , Day high ema at 5365 .
Weekhigh ema 5376 can act as resistance , for this upmove if it is B and As long as 5255 is not broken towards down .
