The next Gann Angles are depicted by the parallel Green Arcs. 5871 represents 38.2% retracement. It is also in the same line as previous resistance clusters.We also have Jupiter Venus conjunction coming in. Since I expect the retracement to be b of B, I expect it to be gentler and not a sharp downturn. (If we retrace the entire down move then we have to rearrange the wave counts.)This is the logic of my expectation. But my trading will be based only on the way prices move -In other words I will not take any position based on my expectation. Hope this helps.
2 comments:
Dear Suresh,
You mean to say that by 27-28 May, nifty target shall be around 5871-5795.
Dear Anand Kumar
The next Gann Angles are depicted by the parallel Green Arcs. 5871 represents 38.2% retracement. It is also in the same line as previous resistance clusters.We also have Jupiter Venus conjunction coming in. Since I expect the retracement to be b of B, I expect it to be gentler and not a sharp downturn. (If we retrace the entire down move then we have to rearrange the wave counts.)This is the logic of my expectation. But my trading will be based only on the way prices move -In other words I will not take any position based on my expectation.
Hope this helps.
Warm Regards
Suresh
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