Monday, May 3, 2010

USDJPY Weekly - by Nayan Bipin Doshi


5 comments:

Anonymous said...

Hi Nayan,

Your wave C is going beyond wave 1, which is illegal according to Elliott Wave Principle. Pls double confirm your chart.

Just a valuable feedback.

Nayan Bipin Doshi said...

Thanks for the feed back. But if you see it carefully, I've just indicated the Wave 1 beginning level (of 110.66) (for information only). The likely / potential targets of 'c' are 107.96 // 110.28 (both levels below wave 1 start point).

KRG said...

Nayan: Have you checked the impulsiveness of the wave 1 marked in red ? Does it sub-divide into 5 waves? Does one of sub-waves extend?

Nayan Bipin Doshi said...

Dear Sir,

I see a valid point... Going deeper inside I too suspect the impulsiveness of wave 1 in red. Just wondering if the same can be treated as a diagonal...!?!

KRG said...

My own feeling was also that the last 5 waves in yen would end in a diagonal. Thought we broke out of it; but now think we still have atleast one more round of downside to go

In terms of percentages, we have 1=5..., i.e. assuming the start of the count in 70's!. Suggest you look at the larger picture (may be monthly) and use log scale to get LT proportions right