Present is a rejoinder to my blog :
http://lalitlk-lalit-lk.blogspot.in/2016/05/nifty-bi-monthly-chart-review-of-elliot.html
it may be said that a candle in Bi-Monthly chart covers on an average of 41 days. For ready reference, chart is reproduced :
http://lalitlk-lalit-lk.blogspot.in/2016/05/nifty-bi-monthly-chart-review-of-elliot.html
it may be said that a candle in Bi-Monthly chart covers on an average of 41 days. For ready reference, chart is reproduced :
Next is a chart of time frame of 8 DaysCycle effectively covering the Bi-Monthly chart as a fractal :
As such 5 candles in TF 8DC cover each candle in Bi-Monthly .
Elliot wave oscillator aka MACD (5,34,5) views from both sets of charts are complementary & endorse the view that 9119 is a peak.
Zoomed views of TF 8DC in 300 & 150 candles are given below :
Chart in 300 Candles
Chart in 150 Candles
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