Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
-
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
If the steady FIIs inflow reflects in the prices, 5405 should be protected going ahead and market may encounter minor corrections and keep m...
48 comments:
ilango do you suggest shorts at cmp
"OB" hourly may be traded with a "Writing of 5100 CE".
Hi Ilango,
I am planning to make an EW calculator in excel
Now as we know there are various possibilities in EW ,the idea of calculator sounds weird....but still i want to start and see where I end up
can you tell me which values of retracement I should consider while calculating retracements?
http://4.bp.blogspot.com/_ot1WH5p4Xr4/S1LM-_Gc25I/AAAAAAAAGG4/K2SmTh-lEfo/s1600-h/0.PNG
Check above this is from your EW post some time ago...
Retracement values are given in Blue (most common) and Red (common)
Which values should i consider....Blue ....or should I take average of blue and red value?
Cheers
Intraday "Turn time" - 2.30PM.
IT index intraday candle shows a topping out. To be watched..
hi..Anuj,
Try with the "Blue" ratios.
I would like to see the results though I feel it can not be mechanized. However, I feel, it would prompt us to consider the critical points of turning.
Good luck to you.
Hello Sir,
"Writing of 5100 CE" means to buy 5100 Call or Sell ? Please explain.
Umesh
@umesh
Its selling 5100 CE
umesh means selling of 5100 CE ie shorting..
Interesting retracements:
5309 to 4675 in clear 5 - waves = 634 points.
38% retarce @ 4917 - Market corrected from 4930.
50% retrace @ 4992 - Market corrected from 4992.
62% retrace @ 5067 - Will the market oblige..?
Now the "Risk-reward" has changed.
This uptrend from 4675 has consumed 15 days.
Thanks Babu and Prakash
scalp trade
sale 5023 nf
sl-5040
@ilango..
Ok thanks I will use blue values...
even i have read that people have failed to provide a mechanized way to EW...the way i think it will help is finding the possible point of reversal or wave end ...and then switching over to lower time frame to see divergence and taking position as per wave direction
It will help to quickly identify possible wave in all stocks and give a broad view...Let's see
sir
hw u drived at 5067 and 62%?
regards
Sir,
i need your words in Laymen language :) if you don't mind
Hi! Rajnish,
How to trade Scalp trad? Any trading tools required?
Thanks
hi prabhakar
scalp trade is to take quick profits
no tools required except brokerage account and capital
@Manu
It is 62% retracement of fall from 4310 to 4675.
Regards.
error.. fall from 5310 to 4675. :)
book profits 5013 nf scalp trade
10 p gain
Mr. Rajnish Sir,
How can we identify Entry, Exit and SL?
Thanks
prabhakar
with 'OB' readings you can identify opportunities.
Hi rm//long time
why 62% is taken as we didnt reached 5067?
i m poor in ths retracement thing
r u still member of kadiyali blog
Thank you Mr. Rajnish
prabhakar
scalp trade gives quick 10 points after entry
google it for more
rajnishp78@gmail.com
@Manu,
I am technically illiterate but all charting softwares provide fibonacci retracement levels!
I am only member of "Just Nifty" now!
Regards.
Retracement calculations.
Fall from 5309 to 4675 = 634 points.
38% of 634 = 242 + 4675 = 4917
50% of 634 = 317 + 4675 = 4992
62% of 634 = 392 + 4675 = 5067
Keep doing retracements for all time frames for initiating a trade.
thnx
rm ..i think u r prabhanshu guided me 2 ths blog..
thnx again
and good to hear that u r out of that tukka(kadiyali) trading blog..
i have uploaded fibonacci calculator
link:
http://www.4shared.com/file/232698998/2d363f2b/Fibonacci.html
thank you
thnx sir
cant be much simpler than tht
thank you ilango for giving wonderful platform to share my work
@ Rajnish
:)
"""IT index intraday candle shows a topping out. To be watched.."""
sir whats view on IT index now????
Sir
Nifty is at near day high, Short for next day?
Thanks
Dear, Anuj,
There is a world famous software to provide a MECHANIZED WAY TO EW...
called ELWAVE, [LAETEST VERSION ELWAVE 9.2]
The ultimate trading and learning tool for the Elliott Wave Principle.
see the details:-
http://www.traders.com/Reprints/PDF_reprints/PS_ELWAVE9.PDF
=============
ELWAVE Supported data feeds and formats with METASTOCK(esignal data feed).
Thanks & Regards.
ashish
it index in range from 2 pm
ilango is right
it is not advisable to short nf for tomorrow
buy 5020 nf
sl-4980
square off tomorrow morning
hi..Ashish,
That 5-minute candle failed to put pressure on IT Index.
I generally do not suggest taking position at the last hour. As has happened in the past, both possibilities (gap up/ down) exists with US dollar index at its top.
Sir,
Part booking done at NS@5025
This is the first day of closing above 50 day average(5013). It needs to be followed up with an upmove tomorrow.
Good job, Babu. :)
bye all
thank you
thnx ilango, got ur point!!!!
Ilango sir,
As per TA, one should go long at about Low EMA and go short at around High EMA. But what should be the strategy after the break out of High EMA....? if after break out of High EMA, long trade is intiated when profit should be booked...?or else after break of High EMA, at what level one should go in short position...?
-arpit
Sir please answer to @Arpitg. i am also trying to learn.. (your EOD Analysis made me to learn). beginers will have this type of questions
hi..arpit,
After the day high ema , there is week high ema from where the intraday sell off took place on Friday and Nifty has closed above that now. We will look at Month high ema which would come around 5075+.
62% target @ 5067
Zigzag target @ 5090
Inverse H&S target @ 5100+
As we get closer to these levels, look out for daily OB or -ve div as well as a -ve div in Hour.
Market can still surprise us inspite of all that. By then, we would have ridden 50 to 75% of the move in profits.
@arunima
thanks for the link
Probably Ilango is a better person to review it....we are good in download it!!!(if its free....he he )
I will work on Excel calculator and see if something simple and effective can be made....
Effectiveness Ilango will test !!!......:)
Cheers
sir
chart update at close or closing price..
Post a Comment