Thanks for the reply . Request a few clarifications for my learnings :
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You said it is the final leg ( V) of the final 5th leg which I understand is based on EW theory of 5 legs upward journey before correction starts in A , B , C wave . My query is how do we decide this 5 leg journey cmobined together right from COVID lows is part of the bigger Wave 1 . I mean why not bigger Wave 3 or Wave 5 , why Wave 1 only ? Why is the reference point taken from COVID lows only ( in that case this is Wave 1 ) ? what is the reasoning here ? Also , can you point out any other stock reference where it is part of bigger Wave 3 or Wave 5 ?
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Is it possible that this goes on much above 400 target and larger Wave 2 correction doesn’t happen at all ? In that case , will it violate the 5 leg upward journey of EW theory ? Does it happen in your experience ?
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Yo have shown in the image v = i of final 5th leg ? Why should it be v = i only why not less or more ? in which case the target comes 400
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If at all , larger Wave 2 correction happens here as per your analysis , How should it move in this wave 2 ? I mean what could be various support levels in that case before it starts the larger Wave 3 journey ?
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Why did you choose weekly chart to explain the 5 legs journey here ? Can we use Monthly chart to explain the 5 legs wave journey here ? In that case won’t our analysis & conclusion change significantly ?
I might have asked some silly questions . Bear with me for my learnings .
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