Rajandran R FollowFounder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.
Wave Count for Sensex
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Disclaimer : Iam Starting this post with a disclaimer. Because Iam not an expert with Elliot Wave.
I made this post just to ask suggestions with the Ellioticians and Experts reading my blog.
I had made 16,600 as the Peak in the Elliot wave structure as GANN Resistance near 16,600.
Experts please give your suggestions here
Rajandran R FollowFounder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.
I feel it is a clear 5 wave up movement starting from Oct lows, Nove highs as 1, March lows as 2, June highs as 3 and July/August lows as 4 and 16,600 target for 5. Ajay
Rajendran, i agree with your wave labeling. i think we are in wave B, which itself has a 3 wave structure. wave 1 from march lows to june highs, wave 2 from 4693 to 3919 and the current wave 3 which is currently underway. as we are in the motive wave we should see a 5 wave structure, which can take us as high as 5500.
Dear Sir,pl read this thread. i had posted wave count and seems we r following that path. i am also not elliott expert, i a have just tried it.http://www.vfmdirect.com/forums/show.cgi?topicid=1250537351Pankaj Shah
I feel it is a clear 5 wave up movement starting from Oct lows, Nove highs as 1, March lows as 2, June highs as 3 and July/August lows as 4 and 16,600 target for 5. Ajay
Rajendran, i agree with your wave labeling. i think we are in wave B, which itself has a 3 wave structure. wave 1 from march lows to june highs, wave 2 from 4693 to 3919 and the current wave 3 which is currently underway. as we are in the motive wave we should see a 5 wave structure, which can take us as high as 5500.