According to the Elliott Patterns, Sensex made an exact Double ZigZag pattern in its recent 2008 major correction from 21206 to 7697. Its an A-B-C-X-A-B-C pattern with each A & C with 5 waves & all B & X with 3 waves. We can see that each B is 61.8% of its corresponding A and also X has retraces 50% of W. The pic alongside the chart gives the textbook daigram of a Double Zig-zag just to show how exactly the markets draw these patterns for itself.
No comments:
Post a Comment