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  #11 (permalink)  
Old 23-03-2009, 10:09 PM
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I didn't knew Elwave marked extensions and expansions as well, pretty rare feature in EW programs.
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Old 23-03-2009, 10:16 PM
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Alex Thanks for posting this chart. I have seen elwave chart first time. It appears that Elwave has counted the move from 2970 to 2540 appx. as abc.
while I count it as a five. So I dont know whether it counts post oct move as triangle or not. I counted triangle as finished on 13/2/09. Now your question,
though the count is admissible I have strong reservations about the s/w ability w.r.t. picking the right wave degree. A clear answer can be given on seeing the bigger degree wave count labeled by the s/w. Hope this helps.
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Old 23-03-2009, 10:59 PM
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HI vinay my alphomega software says that 13% wave 3 is running and its first target is 3600 and second target at 4250.Is that correct? can u explain?.


http://img207.imageshack.us/img207/6661/sssbre.png

Last edited by rajatheroyal; 23-03-2009 at 11:06 PM.
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Old 23-03-2009, 11:00 PM
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thanks vinay, you have a point, also must note that elwave scan numerous combination before putting results, but latter i experimented with the historical data, then found different wave counts by same s/w .its obvious previous swings must affecting recent wave extensions, so am i correct if i scan hist intra data of nf from recent bear market ?(i.e. December 07 )
edit. saw the post of rajat, interesting, elwve also giving kinda bullish predictions...ok now MTpredictor left
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Last edited by alex; 23-03-2009 at 11:06 PM.
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Old 24-03-2009, 08:56 AM
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Raja I dont know if bear has ended but if it has at oct lows it would still be a double zigzag and then target is around 4200 to 4500 (tentative) In this case my best count would be a sharp A (circled) at 3240 15/11/2008 ,a complex B (circled) which we finished at 2564 and we have begun a C(circled). But too early to jump or it may be impulsive count in play.
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Old 24-03-2009, 09:22 AM
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see the attached nifty fut eod chart...the blue boxes were plotted in the month of jan & feb..market rebounded from the bottom one..now seems to reach the top one & may fall from there..lets wait & watch.

target showing = 3030 - 3096

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Old 24-03-2009, 10:28 AM
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vvvv,
In fact ewi has turned bullish on india with yesterdays move.

the just-published APFF Interim Report has the following to say:

Asian-Pacific Financial Forecast, Interim Report
March 23, 2009
In the March 2009 issue of The Asian-Pacific Financial Forecast, we showed how pattern, price, time and sentiment considerations were pointing to the end of... five-wave declines in most major Asian-Pacific indexes by late March. [Now] the daily SENSEX chart shows how the decline since the 2008 high can be counted as three waves.

Translation: Current Elliott wave picture in India’s SENSEX stock index “may offer investors a rewarding... opportunity.”

That means They have settled for double zigzag count finished at oct 2008 low.

Last edited by Vinay; 24-03-2009 at 10:40 AM.
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Old 24-03-2009, 10:39 AM
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This is what i could think off in terms of a manual count....Please correct me if i am wrong....We are still in the first wave of the hourly...
Really nice to see experienced ellioticans trying to help...also yesterday was the first day we felt like trading was taking place past a corrective,move was swift and directional in a lot of stocks.

thanks and all the best.

Last edited by SK; 25-03-2009 at 01:11 AM.
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Old 24-03-2009, 10:47 AM
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Your view will be validated today. does it look impulsive? yes, but let us wait for pullback
and then that will confirm bear is over. and if on pullback it doesnot hit new high then doubts will persist regarding the strength of the rally.

Last edited by Vinay; 24-03-2009 at 10:50 AM.
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Old 24-03-2009, 03:37 PM
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EWT....
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