It is almost a year since I commented on the Dubai Financial Markets Index or DFMGI. Here is a video of my analysis. Feel free to share it with your friends and post your comments. – Ramki DFMGI-9Apr2011
Thank you Ramki for the update on Dubai market , but have a question please would wave 5 that you have considered it to be can also be considered as a 3rd wave due to the strength of the selling that made the index record a new ATL at 1380 and then we moved up as wave 4 and we are currently in wave 5 which is not yet ended that can also record another ATL which will then end the 5th of the 5th to begin a new 5 impulse wave up.
Yasser, what is describe is definitely possible. This is one of the reasons why I am suggesting we should wait for a deep pull back once the current strength fades. That pull back will be wither a 2nd wave of a new impulse, or the 5th wave of the old downtrend. How that down move unfolds will dictate our trading decision. For the time being we will be happy with the expectation of a deep pullback. Remember, one can be certain of the wave count only AFTER the move is over, and by that time we cannot have a trade. If we wish to trade, we have to take LOW RISK chances
How can i measure a five wave structure on a 30min. chart? Where to start on the chart for wave 1? The highest point on the chart and from there counting, including a, b c,?
And is ‘c’ the new start of another five wave structure? I am trying to count waves by myself.
Hi Edwin, I recommend that you get hold of a good book on Elliott Waves. That will help you learn a lot and you will then find this blog very useful. Good luck
7 Comments
Thank you Ramki for the update on Dubai market , but have a question please would wave 5 that you have considered it to be can also be considered as a 3rd wave due to the strength of the selling that made the index record a new ATL at 1380 and then we moved up as wave 4 and we are currently in wave 5 which is not yet ended that can also record another ATL which will then end the 5th of the 5th to begin a new 5 impulse wave up.
Thank you again
Yasser, what is describe is definitely possible. This is one of the reasons why I am suggesting we should wait for a deep pull back once the current strength fades. That pull back will be wither a 2nd wave of a new impulse, or the 5th wave of the old downtrend. How that down move unfolds will dictate our trading decision. For the time being we will be happy with the expectation of a deep pullback. Remember, one can be certain of the wave count only AFTER the move is over, and by that time we cannot have a trade. If we wish to trade, we have to take LOW RISK chances
Thank you again for your prompt reply, and for a very clear answer as usual. I fully agree with you and we should wait to unfold what is uncertain.
Thank you again and please keep us updated as this year could be an interesting year for this region especially Dubai and ofcourse Qatar
Dear Ramki,
I am always a follower for your site and expectations.
I like the way you present your analysis.
Appreciate if you could update dfm, especially that we are now on the same position of the last update here; after almost 2 months of trading.
Mr Ramki,
How can i measure a five wave structure on a 30min. chart? Where to start on the chart for wave 1? The highest point on the chart and from there counting, including a, b c,?
And is ‘c’ the new start of another five wave structure? I am trying to count waves by myself.
Edwin
Hi Edwin, I recommend that you get hold of a good book on Elliott Waves. That will help you learn a lot and you will then find this blog very useful. Good luck
mr. ramki if you dont mind please give quick look at the DFMG INDEX