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....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ...
26 comments:
@ Shr,
I believe in following the prices as it unfolds and not to have an opinion as much as possible. Whenever I try to have an opinion in excitement, market shows me my place mercilessly.
There are possibilities that is being discussed by many amateurs as well as experts.
BL article has covered an wide canvass of 16000 to 28500 in sensex while it is hovering at 20600. The article will appeal to both bulls and bears with its wide range and how successfully it could be incorporated to "Extract something from the markets" is solely depended on the individual's efforts to make a successful strategy/ trade or investment plan based on the "CURRENT PRICES".
A simple strategy would be "Trend following - based on Higher High & Higher Low OR Lower High & Lower Low" OR "Channeling strategy".
Find your method and be steadfast with that. And once you have zoomed on one, keep the blinders on. Failure to do so will take away everything and much more from you.
Thanks sir.
One may trade a Gap trade
Short here with a target of 6172 VAH.
low broken for second time in the first hour.
sir,
the article contains nothing confirmatory why we are
in the 3rd wave. only that we have crossed 18000 so we are in
the 3rd wave. one of the arguements why we are not
in the 3rd wave that 1st wave of more than
5 years can it be corrected in 9 months. shud it not
take more time.
elliot eas a very astute fundamantal analyst too an
supported his wave findings with fundamantals. here
too some support is required of fundamentals because
in previous multi year bull market
earnings grew multifold. can we do the same in next
year or two? i dont know answer to this.
11.00AM TT/ Chart updated.
@ PS,
Corrections are supposed to consume more time than the impulse waves, though it is not a rule.
This is the precise reason many traders making errors in trading.
Any blog mates following McClellan oscillator for trend reversal/exit trades?
Chandrabose
Good Morning Sir and Warriors
sir - what exactly is the Nifty Hr - 35 D in your chart?
very true sir.
if we see the sensex in 1980s, it was at a much lower
level. it entered a multifold bull market ending in 1992
for almost 10 years it was more or less in the range with
brief exception of 2000 jan feb. we had a similar
move frm 2003-08 where we entered a fresh territory.
each of these may be impulse in waves
1980s-1992, 2003-08,
the last correction took 10 years . how much
will this take?
as per wolfe wave tgt was 6180-60 which was met today.
I also see a gartley pattern indicating tgt of 5860 with no further upside for now
Sir - do you follow gartley?
@all
I received this message from Mr R M Sir in my blog
*********
Attn. Data lovers
Amibroker format EOD and Intraday database upto 31st December 2010 uploaded at following links:
http://rapidshare.com/files/440352847/EOD.zip
http://rapidshare.com/files/440356649/Intraday.zip
:)
******
Cheers
Good sir and everybody :)
Happy and profitable new year trades ahead :)
@ shr - if you want to scratch your head more, then start now "my sensex target is nearly 26400" (hurry really!!!) :D
@ Rahul - the "X" you selected is OK, other legs i am not able to follow, i am following either monthly/yearly levels for longer term view and not the each and every (leg)one. You calculate monthly/yearly levels and keep aside. Trade the recent levels with comparing to this one. Hope this will be easy to follow. or post how you have caculated to enable to understand how u r doing. PS : but how come u know me?? :P
@ Anuj - thanks
@ Wolfe Wave India,
I do not follow gartley. I remember "The Chart Reader" applying it quite meticulously to stocks and indices with good amount of precision. She is not active in her blog.
Our Sujatha is fond of it.
Share your observations. Thank you.
@Sujatha, thanks for the bullish target.
Actually I don't trade with such long term view. That long term outlook is only for protecting portfolio (equity, mutual funds).
@Sujatha and all
All "thanks" to be directed to Mr R M Sir,he should soon appear with his 2011 Watts smile soon :)
Sir & Family..gm..
@ suj..big one :)
@anuj..hi..all oldies n first day attendance
rm must soon appear..he s a busy profiler now
Sir - Ive included both Wolfewave and Gartley Targets
http://img535.imageshack.us/i/gartley.jpg/
short NF with SL of 6220 Target 6150 - 6110
Sir I've emailed you nifty and bank nifty analysis PDF
please feel free to share
marketcalls.in has the EOD databases.
I also wanted to share another strategy sir with
Bollinger Bands.
Take a look at this.
http://img560.imageshack.us/img560/1516/capturetf.jpg
@manu mamajaan
Hi,yes all oldies present except "Old Mok" :)
Check out this post from Sunil
http://www.timamo.com/2010/12/banks-vs-nifty.html
You may like it as it deals with your old love....pair trading
Cheers
NEW POST DONE.
@sujata mam- i am silent & consistant follwer of this blog
i know all jn nifty friends. thanks for reply
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