Again a minor twist in tale caused by today's price -action( though overall picture remains unchanged as yet).
My yesterday's chart was:
It had contemplated end of retracement B as a truncated B(c) which had to lead to a fast & furious Impulse C to the down. Accordingly, today's opening should have been with a gap-down but that didnot occur.
Today's price-action is showing up retracement B as a TRIANGLE which concluded its last arm today EOD in following manner:
.png)
And therefore, our larger picture becomes something like this:
.png)
But an alternate Probability also develops:
.png)
Then where is the trading opportunity in between both these alternatives---
My advice would be to keep a stop loss for shorts at 5940 and
stop-loss for longs at 5879 and play as per your own conviction.
My yesterday's chart was:
It had contemplated end of retracement B as a truncated B(c) which had to lead to a fast & furious Impulse C to the down. Accordingly, today's opening should have been with a gap-down but that didnot occur.
Today's price-action is showing up retracement B as a TRIANGLE which concluded its last arm today EOD in following manner:
.png)
And therefore, our larger picture becomes something like this:
.png)
But an alternate Probability also develops:
.png)
Then where is the trading opportunity in between both these alternatives---
My advice would be to keep a stop loss for shorts at 5940 and
stop-loss for longs at 5879 and play as per your own conviction.
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