Tuesday, September 7, 2010


There may be a correction / consolidation for next couple of days after fast retrace of 5550 and new high made above 5600.

1. Intraday chart show negative diversion.

2. 2d  Volume profile shows selling at higher levels

3. 5d Volume profile shows larger upmove intact above 5490 level.

4. Daily chart show a cross above top bollinger band and O/B indicators.

5.Fibo-Retrace chart shows likely targets for correction.


alphabet1 said...

Broad numbers of which 5487 is in vicinity
and so is 5646
que sera que sera ?!

Sujatha said...

My utter confusion about EW - Shall we calculate this way Aarvee -
1st wave started from 31st august bottom of 5348, went up till 2nd sept high of 5514 a rise of 165 points. 2nd wave pause till fridays low of 5474, now 3rd leg of the up move? if so what is the 3rd's length? 5745 directly possible or after a pause? or 1.38 means 5702? If it's equal to 1st wave then 5640??

PS : Novice nd BIG ZERO in EW. All please excuse. Anybody knows about Gartley pattern kindly post here.
Thanks in advance.

AAR VEE said...


i am also learning EW ,taking the EW count for academic interest only and relabeling again and again.

i have taken this upmove exactly as u have mentioned and posted that on sept 1 ,with a followup yesterday eod.pl. check

since third wave cannot be shortest ,even if its equal to first ,it can go to 5640 (probability only),
but then u never know ,the third can be longer than fifth,but shorter than first, to maintain this hard rule :-))

AAR VEE said...


u may check this link for various gartley and similar patterns


AAR VEE said...

sujatha i remembered that day before yesterday we had exchanged notes regarding this ew count -
AAR VEE said...

ya he was waiting for 5580 ,should be happy.

looks like if the ew count that 5th (of the upmove since 4786) has started last week from 5350,holds good, than this is iiird of that 5th , it may move above 5625-40!!!! and may not fall below 5515 (on trading basis)and 5480(closing basis).

September 6, 2010 2:24 PM
has hit bull's eye 5625

Sujatha said...

thank you aar vee for the inputs and yes hit the target :)

Let me try to send "gartley" doubts thro mail in week end. Will this be easier than EW let me try.

happy trading day thanks for your alternate counts. 5550 is strong support.