Bulls Ready to Ride
- Thread starter swagat86
- Start date
You mean short term? Or are you expecting a deep correction? Any particular reason for it? Anything you might having spotted? (you have a tremendous eye! 
)
Regards,
Kalyan.
)Regards,
Kalyan.
BUt As many of many frnds hav pointed out to me this may be Wolfe wave in makin thats a dangerous sign v can even go back to 3800. I that case it may be intermediate.
For 2 moro if the wekness continues it will definitely Tank. Last two days candlesticks show that.
Thanks
Hi Swagat,
Glad you mentioned the Wolfe Wave. Another thing i learned thanks to you.
From what i gather of the (Bearish) WW, it's a kind of giant 5-pt rising wedge, with a much bigger range than the normal Rising wedge variety.
The pattern seems to have begun on the Sensex since Dec 06 when we had a high of 14040 (pt 1). Pt 3 (Jan 4 top of 14060) was slightly higher than pt 1 and pt 4 (13303), the 2nd bottom, is higher than pt 2 (12801) the first bottom.
As it usually follows time symmetry should take a week or so to complete and has a downside till around 13000 (from the line joining 1-4, as of now - more sideways movement will increase the downside projection).
Don't know much about the volume pattern though. Volumes were lower than avg from pts 1 to 3 but have started rising since then (from the 2nd peak) Is that the usual pattern??
Please correct me if my understanding is wrong & keep posting as & when you get more clues/confirmations.
Regards,
Kalyan.
Glad you mentioned the Wolfe Wave. Another thing i learned thanks to you.
From what i gather of the (Bearish) WW, it's a kind of giant 5-pt rising wedge, with a much bigger range than the normal Rising wedge variety.
The pattern seems to have begun on the Sensex since Dec 06 when we had a high of 14040 (pt 1). Pt 3 (Jan 4 top of 14060) was slightly higher than pt 1 and pt 4 (13303), the 2nd bottom, is higher than pt 2 (12801) the first bottom.
As it usually follows time symmetry should take a week or so to complete and has a downside till around 13000 (from the line joining 1-4, as of now - more sideways movement will increase the downside projection).
Don't know much about the volume pattern though. Volumes were lower than avg from pts 1 to 3 but have started rising since then (from the 2nd peak) Is that the usual pattern??
Please correct me if my understanding is wrong & keep posting as & when you get more clues/confirmations.
Regards,
Kalyan.
Last edited:
Hi Kalyan and Swagat,
Are you sure that it is a Wolfe Wave? From what I have studied (or what I have been told - that would be a better way to put it) the movements between point no. 1 & 2 and 2 & 3 and 3&4 are more or less straight line movements. I mean a striaght line up or down. Not a step by step movement. Up a bit down a bit again up a litttle, down a little and moving like this in between any of the points described above. Please note there is no such straight line movement of sensex since December 2006. It is a staggered move. So do we really have a Wolfe Wave here? I am not an expert on Wofe Wave. Trying to learn it.
Are you sure that it is a Wolfe Wave? From what I have studied (or what I have been told - that would be a better way to put it) the movements between point no. 1 & 2 and 2 & 3 and 3&4 are more or less straight line movements. I mean a striaght line up or down. Not a step by step movement. Up a bit down a bit again up a litttle, down a little and moving like this in between any of the points described above. Please note there is no such straight line movement of sensex since December 2006. It is a staggered move. So do we really have a Wolfe Wave here? I am not an expert on Wofe Wave. Trying to learn it.
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