So finally the -ve divergence is confirmed with prices going down below 5 Dema and closing also confirming the loss of momentum and bearish engulfing also confirmed.
Down move from 5815 is a 3 wave structure till now ,
from 5815
a 5815-5706=109
b 5706-5752=46( 42.2%)
c* going on T1=.618(a)=67 pts =5684 ( We have already done this today ) T1=a=5643 If we go beyond 1.618 % of a downside then we will have to count 5 waves from 5815 down .
We presently have sell on day TF as well along with hour TF .
from 5815
a 5815-5706=109
b 5706-5752=46( 42.2%)
c* going on T1=.618(a)=67 pts =5684 ( We have already done this today ) T1=a=5643 If we go beyond 1.618 % of a downside then we will have to count 5 waves from 5815 down .
We presently have sell on day TF as well along with hour TF .
