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Thursday, October 27, 2011

Nifty channel and COUNT

Remember that channel. Will try to HIT that channel and close the GAP at 5330.

(c) completed . I have placed a W there. Now doing X which should be a 3 wave . Now doing C of X.
5338 is 38.2% retracement of W , i.e from 6338 to 4720. That 5330 has a confluence of FIBO resistances . So BULLS should be carefull.

5 waves need to be spotted in this one . Pink parallel channeling.

 Have to run to office . Will edit and post more info . I think shorts can still be held and dont square off at LOSS.

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