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Range bound day after markets retraced more than 75% of fall from 5550 levels.
Now 5445 level becomes important pivot for further trading.
Probable EW count taking the upmove since 5350 as start of the 5th wave of the intermediate upmove since 4786, it also points to 5445 as important level -
az, i have labelled the minuette and the sub minuette based on vol. profile ,lets see if breaches 5445 then will relabel it as vth-1-5 ended yesterday and 2nd corrective-5th in progress,which can reach end of 4th i.e 5420 region. lets see what market decides,it may be iv corrective of 1st impulse or 2nd corrective.
2 comments:
5445 looks similar to 5385 :)..lets see if we have a chance today to meet it..
thanks RV
az,
i have labelled the minuette and the sub minuette based on vol. profile ,lets see if breaches 5445 then will relabel it as vth-1-5 ended yesterday and 2nd corrective-5th in progress,which can reach end of 4th i.e 5420 region.
lets see what market decides,it may be iv corrective of 1st impulse or 2nd corrective.
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