Sunday, September 13, 2009

daily analysis for 13th Sep


As shown in 30-minute chart, it can be assumbed that we are in g leg of diametric, starting from 15046, g leg is assumed to be containing 2 correctives, 1st one as shown in the chart was extracting triangle and 2nd is also being devloped as extracting triangle. Its c?,d?,e? are marked. ? is added to the c,d,e because the end of triangle is not yet confirmed.
we can few scenorios devloping which will confirm the wave structure.
Option 1. On Monday its gaps down below friday's low and goes below opening low, then we can confirm that entrie extracting triangle is ended with g leg ending, which can start the bigger fall.
Option 2 shown in green line e still continues upward, but remains less than c and then cuts bd in faster time then we can confirm that entrie extracting triangle is ended with g leg ending, which can start the bigger fall.
Option 3 gaps down but holds bd? trendline and then rise upward It will have 2 possibilities either c continues upward which will shift c? or it can end d at bd? trendline and then scenario builds as per option 2. In case of it shifts c, then c ideally should not end at the parrallel line, because then it will call for complex corrective within c
Option 4 It gaps up, then it will be similar to option 3
Daily chart chartacle is same as of last time

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