thanks Ilango for EW update.Can you suggest a book on EW? will have to study it in detail.
@rajagopal Will use EW knowledge to confuse you Cant see you take the "Oscar for OoT" everyday(jealous)...I just get stuck with nominations only :( :))
@yoda I will read that...earlier I used to read and enjoy complicated stuff But now I cant stay focused with complicated stuff...as I am trading better with very simple strategies.Thats you cant get focus wrt options although I love the underlying "funda" about them
@golfdude, in the newcolumn, can give the exit date and rate, more columns to show that trade's profitLoss, percentage return, cumulative proloss from a particular date.
great idea, mok about the trade diary - that should give anyone confidence in the system at a glance, if they're visiting gd's page for the first time.
about this damned 2:30 factor - it starts at 2, usually reverses the trend and ruins my day, mok.:/
Thanks Mr GG ji I think manoj made a point about "time" yesterday and Ilango said about 2 days for 4th wave Time element is generally ignored(less talked about) Mostly the focus is on Fib retracement..hope to study this and detail soon Thanks for your opinion
@ yoda 2.30 ! so we will test your system for 30min TF also, that may prepare us for this.
@ GG so the expectations will be lower tops and a slow decline ... and if upmove is a correction the general direction is down ... any tgt & time for the sensex ?
Dear all, An interesting calculation for nifty by recent high low on closing basis. From the recent high 5353, we are in downtrend. what are the immediate levels? See here. The first level we almost reached, if the down trend continues the next level will be around 5150.
yeah, mok, I finally figured out how to dl 1 min data from Anuj and teejay, I think we could make it half-hourly or 15 min to help us through. Nothing can be done about gap-downs and gap-ups though?
Mok, from the 3 views - 1. 4th Wave will mean 5th Wave to 5520. 2. Flat a-b-c means upto 5000(.618 of 4786 to 5368) and then c back to 5350. 3. extracting triangle/diametric means 18367(max) on the sensex.
My bias is on flat a-b-c. S&P has broken down the H&S pattern. So some more downsides for the 'b'. Then a pullback to retest the neck again which will be the 'c'
Yoda, will send charts of 30min and 60min later for an idea. just now read the older comments on your getting familiar to IB datadownload, thats great for us. Whatever TimeFrame you set on the chart of any trader platform, that TF data is available for download.
@mok Yes too long..even just scrolling will take 2 days(not sure whether my mouse can tolerate that much stress!!) "POTI" will be my secret system...It will not be free for all Will you subscribe for "POTI" premium service and morning updates?
Hi All, There has been an addition of over 10 lacs puts in strike price 5300 - i think smart money is buying and on monday / tuesday (in case monday is closed due to all India bandh ) we should see nifty moving up comprehensively - Your views please - regards Deepak
Deepak, I'd love for the nifty to go up, of course, but it is definitely drifting down without buyers today, maybe because its friday and all the world markets are down, or maybe because its in a downtrend.
I didn't want to reinforce our position with false hope.
The big advantage of following an ema in both directions, or SAR, is that you don't have to take a view at all about direction.
(Right now I'm experimenting with up-only and it looks like the wrong time for it. Lets pray that monday (if trading is on) brings a good week for those of us going long.:)
will like to rework bcz still both options r yet open and bulls r being tested.not getting strength thats true but weakness is also not confirming termination of upmove started from 15960.we have corrected apprx 38.2% of rise from 16560 to 17920.today's low is above low made on 30/6 that is 17374 and till we close decisively below 17400 zone i think we shd keep option open for bullishness. on close below 17400 we can expect more weakness.even if we see time wise we have seen low made on 30/6 it was after correction of 8 days from top of 17920.we are trading in range of 30/6 candle of 17725/17374. break from that range will indicate further path.decisive close below 17400 will indicate 5th wave failure even if we see up move after that. power sector paper sector fertilizer sector are showing strength which itself is indiacting smart money flow chasing to defensive bets or laggard stocks. so up moves are to be used for generating cash in any case, bullish or bearish.
i may be wrong in my views. take yr own decisions.
btw, in all likeliness - Monday will open a HUGE GAPE UP.... look at the way Europe is trading, US and other asian markets have been subdued or in RED throughout this week...also as such there is no bad news at the moment...
69 comments:
yoda
:)
Will not be available for another hour.
Hi mok
thanks Ilango for EW update.Can you suggest a book on EW?
will have to study it in detail.
@rajagopal
Will use EW knowledge to confuse you
Cant see you take the "Oscar for OoT" everyday(jealous)...I just get stuck with nominations only :(
:))
OT...
Notice SUZLON today. Up 3%.
Anuj, you should read 'Elliot Wave Principle' by Frost and Prechter.
When I read it, I always think how much men would enjoy using it to confuse others. Lots of rules and parameters and stuff. mok should love it too.:p
But rg, you don't read it - you're already a master of confusion.:D
yoda, anuj
i am trying to send anuj prechter,
lets see if google limit is ok.
anuj.
guess u got the attachment
Anuj, i have the pdf version if u want let me know can send it..
regards
prakash
@yoda
I will read that...earlier I used to read and enjoy complicated stuff
But now I cant stay focused with complicated stuff...as I am trading better with very simple strategies.Thats you cant get focus wrt options although I love the underlying "funda" about them
hah,
2 pm, 5ema went to Long, 26 still in short.
:)
yoda, golfdude :)
@mok,
I am thinking of adding a column to that spreadsheet to do some paper trading results. Suggestions ?
thanks mok
@ prakash
Thanks for your offer ...I just received a copy from dear mok
any I dea any one what's Ilango recommendation?
How is the original one by RN Elliott?...is it available?
Cheers
@ golfdude,
you have done a fantastic posting of Yoda file and regular update, thanks.
you can add the TradeDiary [papertrade] that will encourage users,
@ prakash / mok
Please fwd me as well ...
teejay.tarun@gmail.com
thanks in advance
teejay
@golfdude,
in the newcolumn, can give the exit date and rate,
more columns to show that trade's profitLoss, percentage return, cumulative proloss from a particular date.
Hi Anuj,
As Ilango said, we are not sure if this is the 4th Wave or
the 'b' wave. As per Ilango, 5190 is the invalidation of the 4th Wave
scenario.
I am in the 'b' Wave view because usually 4th Wave channel breaks are swift and
the 5th Wave starts off rapidly.
Currently we are in 's' Wave (snooze wave) :p
great idea, mok about the trade diary - that should give anyone confidence in the system at a glance, if they're visiting gd's page for the first time.
about this damned 2:30 factor - it starts at 2, usually reverses the trend and ruins my day, mok.:/
Here is Vivek Patil's view also:
This entire upmove from 4786 to 5368 has been a corrective.
Whether the corrective structure comes as an extracting triangle or diametric
or a flat will be decided by the break of 17400.
Extracting Triangle (5 legs) or Diamteric(7 legs) will mean drops getting
bigger and the upmove getting smaller.
@Elango Sir
Any NEWS regarding Monday ALL INDIA BANDTH
called by Oponent parties.
Market may be closed. Please confirm from your end.
Thanks Mr GG ji
I think manoj made a point about "time" yesterday
and Ilango said about 2 days for 4th wave
Time element is generally ignored(less talked about)
Mostly the focus is on Fib retracement..hope to study this and detail soon
Thanks for your opinion
Please fwd me as well ...
atulpatil3@gmail.com
thanks in advance
Dexter!
Anuj - you can also read Glen Neely's 'Mastering Elliot Wave'.
Vivek Patil's views on ICICI,when followed regularly, gives you lot
of ideas as he explains the reasons for all the moves he talks abt.
But the March '09 bottom was nailed by Ilango while Vivek Patil
was talkign abt 6500 levels on the sensex.
@ yoda
2.30 ! so we will test your system for 30min TF also, that may prepare us for this.
@ GG
so the expectations will be lower tops and a slow decline ... and if upmove is a correction the general direction is down ...
any tgt & time for the sensex ?
Dear all,
An interesting calculation for nifty by recent high low on closing basis. From the recent high 5353, we are in downtrend. what are the immediate levels? See here. The first level we almost reached, if the down trend continues the next level will be around 5150.
yeah, mok, I finally figured out how to dl 1 min data from Anuj and teejay, I think we could make it half-hourly or 15 min to help us through. Nothing can be done about gap-downs and gap-ups though?
But, looking at the spurt up, I think the 2:30 factor normalizes by 3 pm, mok, look at NF go!:)
Thanks GG ji
@all
GG ji's recommendation
http://www.4shared.com/document/gX50hLzr/Mastering_Elliot_Wave-Neely.htm
ty GG, I'm dling it.:)
Mok, from the 3 views -
1. 4th Wave will mean 5th Wave to 5520.
2. Flat a-b-c means upto 5000(.618 of 4786 to 5368) and then c back to 5350.
3. extracting triangle/diametric means 18367(max) on the sensex.
My bias is on flat a-b-c.
S&P has broken down the H&S pattern. So some more downsides for the 'b'. Then a pullback to
retest the neck again which will be the 'c'
Thanks GG, anuj
for the link
:)
Yoda,
will send charts of 30min and 60min later for an idea.
just now read the older comments on your getting familiar to IB datadownload, thats great for us.
Whatever TimeFrame you set on the chart of any trader platform, that TF data is available for download.
@rajagopal
Will you stop trading for 7 points up/down
So that we can start to trade...gor our daily bread!!
:))
Anuj - thank you for the link :)
Anuj,
Lol..good one!
lol, Anuj.:)
mok, for some reason, I didn't know that changing the timeframe was all it took. duh @ my technophobia.:)
nifty trading with 15 premium!!!!!!!!
anuj,
i have downloaded it, its only 20mb, now i need someone to read it for me :)
thanks for the immediate results.
awaiting POTII ...
GG,
i have marked it, so the 'c' expected to see a top, we will follow it up as it develops GG :)
Anuj - u nailed me mate. 17 trades so far - after a long time. Cumulative is better than many "Conservative trades".
God Bless Nifty - pass on the bottle - let him sway more.
5243 5262 5273 2 pairs of equicandle bars today bouncing on 30mTF
@mok
Yes too long..even just scrolling will take 2 days(not sure whether my mouse can tolerate that much stress!!)
"POTI" will be my secret system...It will not be free for all
Will you subscribe for "POTI" premium service and morning updates?
:) anuj, 3.10 commercial break, jingles in jungle,
i wil pay by Timbuktoo dollars :)
@ prakash / mok
Pls forward to me as well - EW - pretcher
my id opgveer@gmail.com
regards,
Veer
@ anuj
It was better Raja trading for 7 points up/down.
Now u annoyed him and he is playing shorts only :)
Ilango sir, can we go short positionally, as again closing
near day low ema?
Thanks
@ mok
:))
"POTI" will be my secret system... sounds like what is used by toddlers at home?
Anuj...lazy boy.
====
Yoda - Seek your permission to incorporate EMA signals in N50 table. Is it ok?
Dear Rajgopal sir may i please have ur mail id?
sure, sure, RG, do whatever you want with it.:)
sir shld v book longs
Thanks Yoda.
Jay Shah - kindly send a mail to Ilango Sir from your id - write "forward to Rajagopal" in the subject. I will get it. I promise you, I AM USELESS.
Hi All, There has been an addition of over 10 lacs puts in strike price 5300 - i think smart money is buying and on monday / tuesday (in case monday is closed due to all India bandh ) we should see nifty moving up comprehensively - Your views please - regards Deepak
Bizagra carry foward the shorts as closing below day low EMA
guys 5180 is sl why r u worrying??
Bye Sir.
Bye Friends.
mok-request a fresh invite pls.
Goodbye friends...happy weekend !!
sorry took me 4 min to post
Deepak, I'm of the same view. I think it should move up on Monday. Today was so disappointing though. Lets hope soon this uncertainty will end.
First level of the downtrend reached today.
Waiting for second target.
Thanks Yoda
Bye all
Bye Rajapaji...enjoy your weekend
bye friends,
have a nice weekend
RG, sent.
Hi Pankaj ji,
Sensex closed at 17434 and after average is now listed as 17460.
Is your view of being in 3rd wave up negated or still holds?
Thanks
Nifty falling wedge ?
http://safegamble.blogspot.com/2010/07/nifty-july-2falling-wedge.html
Deepak, I'd love for the nifty to go up, of course, but it is definitely drifting down without buyers today, maybe because its friday and all the world markets are down, or maybe because its in a downtrend.
I didn't want to reinforce our position with false hope.
The big advantage of following an ema in both directions, or SAR, is that you don't have to take a view at all about direction.
(Right now I'm experimenting with up-only and it looks like the wrong time for it. Lets pray that monday (if trading is on) brings a good week for those of us going long.:)
Dear Shr,
yes.it is negated.
will like to rework bcz still both options r yet open and bulls r being tested.not getting strength thats true but weakness is also not confirming termination of upmove started from 15960.we have corrected apprx 38.2% of rise from 16560 to 17920.today's low is above low made on 30/6 that is 17374 and till we close decisively below 17400 zone i think we shd keep option open for bullishness. on close below 17400 we can expect more weakness.even if we see time wise we have seen low made on 30/6 it was after correction of 8 days from top of 17920.we are trading in range of 30/6 candle of 17725/17374. break from that range will indicate further path.decisive close below 17400 will indicate 5th wave failure even if we see up move after that.
power sector paper sector fertilizer sector are showing strength which itself is indiacting smart money flow chasing to defensive bets or laggard stocks. so up moves are to be used for generating cash in any case, bullish or bearish.
i may be wrong in my views. take yr own decisions.
Pankaj Shah
Dear Pankaj ji,
Thank you for the excellent analysis.
Thansk,
Regards,
Nifty Tips
btw, in all likeliness - Monday will open a HUGE GAPE UP.... look at the way Europe is trading, US and other asian markets have been subdued or in RED throughout this week...also as such there is no bad news at the moment...
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