Dear ,

It is not the first time that I have been asked "how long will that take", "can you put a time on it", or has your view changed now that prices have fallen further"

The reason I do not focus on giving calls and recommendations are that they are based on these false assumptions. Learning how to trade has nothing to do with deriving an opinion from charts. Having a picture of what to expect next comes first. Then comes the action of how to trade that outcome even if it goes against you at first.

To that objective watch the posts below on PVR below I put out in the months of May and June. The first one identified a coming low as we were in the fag end of a 5 wave decline. Now prices continued a little lower but does that change the view? Not really. In fact you only wait for more evidence of the same falling in place.

So I followed it up with a second one after noting that now an even convincing ending diagonal is in place. Now what has eventually followed is a rally and more recently hope of normalcy to these business. This even as nothing has changed except for hope of a vaccine and cure to fear of death.

Now in all this analysis time has no role because we do not know how long things will take to play out. I have noticed my levels being reached in days or weeks depending on the case short term. It is hard to know if wave B will be a simple a-b-c consolidation or a complex time consuming triangle. You can only know that wave C follows. Then what you do is prepare and manage your positions in a way that the market does not throw you out of the market when the move actually comes your way. 

This brings in behavioral finance and requires learning peculiar things like 'Patience'.

Surely if you have a system to identify other trades during that time you may take them but the problem is the same with all of them. You have to be prepared to manage both time and price action. Because time is not a science and patience is a virtue.

Timing is a science like it or not, and I prove it everyday with Live on the Market analysis rather than in hindsight. My posts are time stamped and archived for years to see and verify. If you are still not convinced then you are forcefully closing your eyes to new doors.

Rohit Srivastava

The Truth About the Markets

PVR - 12 MAY 2020

One of the worst affected sectors so this is risky but where there are emotions there are wave counts. And the daily momentum is crossing back to the buy side after a couple of divergences. so is wave A down finally complete? One possible marking below allows for it. A move above 919 and then 968 would both add weight to the upside potential short term for wave B up to the upper Bollinger band at 1126

PVR - 19 MAY 2020

As the narrative changed for life directors many bounced back overnight in US markets. So once again and looking at PVR where I was considering wave IV as a running triangle. That was the futures chart and with some changes the spot too has a different running triangle before the 5th wave. What I don't like is the small 2nd waves which were one day long and forth waves that are more than a week long. The alternate interpretation could be of an ending pattern. Note this is an upside down chart to understand the structure better. So the trendline of the lows goes all the way up to 740 which we are trying to hold today. Yesterday's low of 735 might become an important wave it for a move back to the upper Bollinger band and 40 the average near 1092.