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| Discuss Another Wolfe Wave - Is major correction ahead? at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by kuldeep49 Correct me if I'm wrong, but isn't it first necessary for ... |
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#11
16th August 2006, 09:32 PM
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Re: Another Wolfe Wave - Is major correction ahead?
Quote:
yes it has reach the trendline connecting 1 and 3, which it did today.now 61.8% of the fall which comes to around 3320 which was taken out with a gap today is important to hold in coming sessions for further advance to 3500 region.else wolfe wave pattern can come into effect.  i think i posted it one day early regards, gvnarendra. 
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#12
17th August 2006, 12:07 AM
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Re: Another Wolfe Wave - Is major correction ahead?
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Please find attached chart with some different view. 1 - Wave 2 to 3 is 123.6% of wave 1 to 2 2 - Wave 3 to 4 is 38.2% of wave 2 to 3 3 - Wave 4 to 5 is 161.8% of wave 3 to 4 4 - wave 4 cross horizontal line from wave 1 Harish Chheda
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#13
17th August 2006, 09:50 AM
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Re: Another Wolfe Wave - Is major correction ahead?
I think a lot of trying to fit the chart to one's thinking is going on here because I see too many different points of view emerging. Like going to too many doctors ... lawyers ... engineers ... chartists. Personally, I am not ready to cry 'Wolfe' as yet.
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#14
17th August 2006, 09:28 PM
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Re: Another Wolfe Wave - Is major correction ahead?
Quote:
This does not help in the long run... we lose to many good opportunities and concentrate only on move in our "desired" direction. This is just a friendly suggestion. I do not mean that those who have posted here have such bias... but this is what I have observed (and also done in past)... Abhay
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