NEoWave not only believes that each pattern carries a certain power to the next pattern, it also argues that failure to achieve that power (or pattern implication) could question the pattern.
This would also mean that achieving the requisite “pattern implication” also confirms that the pattern was correctly interpreted.
Continuing our discussion about of NEoWave “pattern implication”, Sensex also achieved pattern implication for Irregular C-Failure Flat pattern we showed inside as x-wave from 17th Mar’17 to 21st Apr’17, i.e. 23 days.
For Irregular C-Failure Flat, 161.8% ratio to its lower-degree b-leg is projected from the end-point of c-leg. As per NEoWave rules, this projection should be achieved within the time consumed by the Flat.
As can be seen on the charts, its lower-degree b-leg was from 22nd Mar low of 29137 to 5th Apr high of 30007. A 161.8% ratio to this 870-pt magnitude would be Sensex 1408 pts. This magnitude added to end-point of c-leg at 29259 would project 30667.
Sensex achieved this pattern implication within 17 days, against 23 days consumed by the Irregular C-Failure Flat in “x” as required.
Can Index exceed pattern implication ? Yes, it surely can. This we have covered in recent times under NEoWave “tolerance”.
Therefore, despite achieving targets, and despite market being in the “Bubble Territory”, we can still remain “selectively +ve” for the time being, until action starts retracing rallying segments in faster time.
Read more at http://content.icicidirect.com/ULFiles/UploadFile_201752210234.asp
This would also mean that achieving the requisite “pattern implication” also confirms that the pattern was correctly interpreted.
Continuing our discussion about of NEoWave “pattern implication”, Sensex also achieved pattern implication for Irregular C-Failure Flat pattern we showed inside as x-wave from 17th Mar’17 to 21st Apr’17, i.e. 23 days.
For Irregular C-Failure Flat, 161.8% ratio to its lower-degree b-leg is projected from the end-point of c-leg. As per NEoWave rules, this projection should be achieved within the time consumed by the Flat.
As can be seen on the charts, its lower-degree b-leg was from 22nd Mar low of 29137 to 5th Apr high of 30007. A 161.8% ratio to this 870-pt magnitude would be Sensex 1408 pts. This magnitude added to end-point of c-leg at 29259 would project 30667.
Sensex achieved this pattern implication within 17 days, against 23 days consumed by the Irregular C-Failure Flat in “x” as required.
Can Index exceed pattern implication ? Yes, it surely can. This we have covered in recent times under NEoWave “tolerance”.
Therefore, despite achieving targets, and despite market being in the “Bubble Territory”, we can still remain “selectively +ve” for the time being, until action starts retracing rallying segments in faster time.
Read more at http://content.icicidirect.com/ULFiles/UploadFile_201752210234.asp
No comments:
Post a Comment