The channel of upmove from 5437 has got broken
and 65% of A=6229-5937 has been retraced so far.
Can we say that B is complete and C downwards has started to do C=A=292 points???
Categorical answers to such queries are not possible but trade-set ups based upon crucial trade points are possible.
Those who are long can have trailing stop-losses at 6056 and 6012.
And those who wish to short can use the following channel as their guide
And in our FB group I had posted two 5min charts indicating small downmoves to 6026 and 6012:
SHARK-1
SHARK-2
And I would not be surprised if from these levels(i.e. from 6026/6012) we smartly move up by 70 odd points to close the May series in 6100(+)(-)10 points.
The smallest Harmonic that can be drawn,however, is :
and 65% of A=6229-5937 has been retraced so far.
Can we say that B is complete and C downwards has started to do C=A=292 points???
Those who are long can have trailing stop-losses at 6056 and 6012.
And those who wish to short can use the following channel as their guide
SHARK-1
SHARK-2
And I would not be surprised if from these levels(i.e. from 6026/6012) we smartly move up by 70 odd points to close the May series in 6100(+)(-)10 points.
The smallest Harmonic that can be drawn,however, is :
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