Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
14 comments:
sir as pointed about the sell signal but todayz cliose is above high ema so how to trde these situations
Dear Ilango,
your labelling of the weekly Nifty chart is confusing me for the followin reasons:
1. Larger A is nearly of 2600 pts from 2600 to 5200. Than larger B does a flat correction of 400 pts i.e. nearly 0.15 of A. so logically larger C should have BLOWN OFF to the higher side and should be at least 1, 1.61, or 2.62 times A. A s per the present count it seems that the larger C whose A leg is of 600 pts and its B leg getting over and finally C within C would also be around 600 pts. So the entire larger C would be of 1000 pts approx which is not even .5 times Larger A.
So how are we to understand this labelling of the entire move from March 09 lows?
There has to be an alternative count for this entire move from March 09.
best
manoj
Ilango - Suggestion: Weekly Chart
My 2 cents..
When drawing ur channels - Connect A & b then b & c.
You will notice a rounding top. 5400+ - is being overly
optimistic.
For the overall trend - also study DOW & DAX (global q's)
- you will notice that there are no new high's that will be expected in those
markets & the same would apply for us as well.
@ Bhavan,
All these studies are guiding factors only and they are not "absolutes". If you are looking for a mechanical system, you may read it as "no sell signals" yet as per the daily.
As per Tech table reading, one should have closed the "shorts" since it has not closed below "Day High ema" - a minimum requirement. However, there are instances, markets have dropped even though it has closed above it.(Happened last week)
The analysis here is based on many studies such as EW, TA, etc.
@ Manojag,
I will make it a point to show you many "B" waves where in the "a" is the biggest and the "b' quite sideways and the 'c' the 'tiniest". It is such imperfections in the wave analysis that makes it the most challenging.
My reading of EW has always been in combination with TA and I do not measure the relationship to each wave so much as "one should do". Such an analysis may be the proper thing to do (I do it occasionally)but I do these in my own way and they have been quite useful for trading purposes.
Thank you for all your probing questions that make me go back to the "studies" furthermore. You have proved to be the most knowledgeable one on EW I have interacted with.
@ GB,
The trendlines and channels I draw are based on the "price clusters" where the lines would act as resistances and supports and I am flexible on that.(See the Hour chart drawn with such a principle - quite effective).
I do study world markets and have a data base of three US markets, Ftse, Hangseng, Shangai indices. Though our market may sway with the world markets, we have a price pattern that are different with better fundamentals. There have been many instances "some country" will have a bull run while others may not. Japan was in a big bear market while rest of the world had a big bull run.
Remember our markets bottomed in Oct.08 while the US did in Mar.09.
My approach in this is to study all the markets but use it to suit our TA.
As the prices unfold, we should adopt.
I appreciate your inputs on this.
Dear Ilango,
Is there formation of H&S pattern?because yesterday I read about the possibility of this pattern in Dear San's Blog that if Nifty shall unable to close above 5330 in convincing manner then this shall be valid,otherwise it shall be invalid.As you know,I literally have no idea.Your information will definitely put things in a different light.
Sethu is so insecured with my challenges, that he protected both his blogs and twitter 2 days earlier.
http://aumsecurities.blogspot.com/
http://twitter.com/Niftysparks
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But I have already cracked his secrect levels [bcoz, I have traded with same levels past 5 years. ] I will share it to all of friends here soon.
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Thanks to ilango sir again for sharing his complete system selflessly.
Get Nifty Tips
Dear Ilango,
Thanks for your kind words. Am truly flattered.
manoj
Ilango sir, my trading plan. As i carried risky shorts from
friday. If moves down, i will exit them near 5190-5200 and go long
with S&R 5170. I am keeping Fridays high as SL for shorts.
Plz correct me if i m wrong.
Thanks
GOOD afeternoon sir
fryday, u posted 9-rsi & 14-rsi chart
pls explain what is differnce between two???
lol @ Arunima, I saw the protection, but maybe it was there already because they're a paid service? If it was 2 days ago, then it is funny.:)
Anyway, leave him be - he's not the first and won't be the last to charge for tips.
@Arunima
Sethu is guarded of his system, as many of us humans are, save Ilango.
We are happy that we have you in our midst who can decipher the Sethu-Rosetta-stone. I am sure with the zeal you have you might as well improve upon it!
All the best and we look forward to hearing more of it from you very soon.
Hi ilango, apart from your EW analysis I don’t read anyone’s EW analysis as it confuse if we read more then one person as everyone interpret it own their own.
I have seen you always label rise from 2600 to present NF as A.B.C...this is worrying me most as that mean one or other day when we complete C we will again re visit less then 2600 in the new down move 12345
Why I should not assume that we have completed ABC at 2500 level...and started the new bull market and instead of labeling rise from 2600 to present NF as 12345 , and your present C and 3 rd wave (3.1)….and when we complete 3.5 we will be crossing 6300 .
Every one know that your analysis is yielding money even for sub.sub.sub.sub wave, But those who wanted to buy for one time and never sell for life time may be in confusion.
Example I wanted to buy apartment, if you label as present move as ABC..then one or other day NF will visit again less then 2500 then it is good time to buy any property. ( But if we already started 12345 new bull market buying apartment is now itself is good idea)
@ilango sir,
What is "Fast Fall MA" and "Fast Rise MA" setup ? I understand crossovers.
-- gd
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