Harmonic patterns in DAY/HR - Contd.. (sept 5)

The Chart below is the continuation of the chart posted in the link on sept 5:
http://tradeessentials.blogspot.com/2011/09/harmonic-patterns-in-dayhour-tf.html

After B was formed at 5065 - NS went down upto 4943 - an approx 38.2% retr toform C and then retraced almost 200% of BC to make a High at 5169. This is also close to the Week Hema of 5175 as per TA. This renders the Bearish butterfly pattern complete with,

XABCD at 5195, 4720,5064,4943 and 5169 respectively. The retracement of CD would determine the downfall from D. The retracements are as follows:

50.00%	5056.00
61.80%	5029.33
76.40%	4996.34
78.60%	4991.36
85.40%	4976.00
88.60%	4968.76
94.43%	4955.59
100.00%	4943.00

The D at 5169 is taken as the Bof the larger bearish Crab Pattern with XA = 5702 - 4720.

then,

Developing Bearish Crab Pattern would be,

XA = 5702 - 4720

B = 5169 - (approx)44.7% retr of XA

Min requirement for C = 38.2% retr of AB 

38.20%	4997.48
50.00%	4944.50
61.80%	4891.52

This 38.2% retr at 4997 coincides with the 76.4% retr of the down retr of the completed bearish Butterfly pattern.

The HOUR chart:

INTRADAY UPDATE FOR SEPT 12:

Closed the existing Shorts at 4944 - 50% retracement of the AB wave. Initiated longs at 4935 ranges with Week Lema at 4920 as SL in hourly closing basis. - Reasons for Long trade:

1. Week Lema at 4920

2. rounding top is over at 4932

3. 50% retr is done.

4. expecting a bounce upto the 4985 - 5025 - Day 5ema/week5ema and week pivot.

Closed the intraday longs taken at 4935 at 4960. Strength returns only above close above 4970 - which will give a close above Hour 5ema!!