Monday, May 3, 2010
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5 comments:
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.
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).
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?
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...!?!
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
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