Now that we have traded below 1835, many people are anxious to know how far it will go down. Like always, I prefer to ‘show’ you my analysis! There are two charts presented here. The first chart gives you an overview of the bigger picture, and identifies two possibilities, and what is my preference. The second chart is an hourly chart, where I have let my imagination take over (but within the boundaries of Elliott’s guidelines). If you have invested in my book, you should try and figure out the reasons for my levels yourself. That will be the way to learn the techniques first hand. Good luck. Ramki
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Great Work, Ramki! Got Prechter beat by a long shot. I love how usable your information is for actual trading. Please, Please, can you show a very long range picture of what will possibly happen after the end of this third wave? Does the market go all the way back to the beginning of the rally, generations ago, as Prechter says?
Hi BJ, I suppose you are asking what could happen at the end of the five wave rally. . If you go to Amazon.com (us region) you can see what passage most people have highlighted in my book. This is a key lesson to be learned from the chapter titled “The Concept”. I have put it in italics too.
Thanks as always for your pearls of wisdom. Great book, just started on it and being new I’m just starting to get my head around the theory but it’s a great guide for anyone dabbling in technicals.
Sanjay, thanks for letting me know you have the book & that you are enjoying it
Hello Ramki,
I’m Kanishk, from Mumbai, India & am a subscriber to only you’rs besides Bob Precters market-forecasting service.
I just wanted to inquire whether you’re book is available in India? Its just that I’m a little-old school & would love to curl up with the book rather than read it on a PC, something I quite dislike…
Thanks for you’re time..
Cheers
Hello Kanishk,
I used to be like you, until I purchased my ereader! (iPad) Now, I would like all my books to be available on Ipad for several reasons: (a) I can read it anywhere, for eg, if I stop at page 45 at home, I can continue reading it exactly from there whileI am travelling, or in the office. It syncs automatically. (b) I can carry several books with me, including a disctionary! etc etc. Anyway, at present, my book is only available in electronic format, and you may buy it in India either from Amazon (and read it in Kindle for PC, ipad, iphone, Blackberry, Android devices etc), or you van buy it from Infibeam.com and get an Adobe Digital Editions version. PLease click on the book’s image on the home page in the blog for more details.
dear sir, In an earlier analysis you lebeled 1702$ to 1920$ as wave B. My question is can we label 1920$ to 1792$ as wave (1)and the rise from 1792$ to1885$ as wave (2) of running wave C
Hi Ajay, The only trouble with labelling 1920-1792 as wave 1 of C is it looks like a 3 wave movement. Wave 1 inside Wave C should have 5 sub waves. Always remember, any labels we give in real time are temporary. No one can tell the future, but we have a framework, a theory, a hypothesis, a paradign…and we work as per that until proved wrong.
hi sir, have you watch gold chart recently is there any possibility to firm an ending diagonal after bounce from 1794$ TO 1845$ gold is again tryin to decline ,if gold fails below 1760@ what will be your view?