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 ...
32 comments:
GOODMORNING SIR AND FRIENDS
A brief tug of war between "Day's pivot(6160) and DHEma(6139) to emerge.
GM Sir, Looks like gora yet to come back fully in market.Yesterday's vollume was very low.
@ Debdeep,
Vah-value are High
POC- point of Control
VAL- Value area Low.
Thanks Bhavan. Though not so clear still but anyhow thanks for your kind effort. I will search the blog for more details. By the way do you mean I need to look into the comments also for these details?
@ Bhavan
In my view more juice to be om on short side.
I hope to get 6100 Today
ILLANGO SIR,
i AM A BIT CONFUSED...SHOULD WE TAKE SHORT OR GO LONG FROM HERE?
tHANKS IN ADNAVCE
@Debdeep
am short of time but will give u an understanding ASP or EOD
Dear Debdeep,
This is what Ilango Sir said a few days ago;
My simple understanding of Market Profile is:
---------------------------------------------
VAL: Value Low - trading below it downward pressure similar to "Low ema".
POC: Power of control - Having moved above VAL, it needs to move above this point to have some control over uptrend similar to "Close ema".
VAH: Value High - Having captured POC, it needs to stay above this to assert itself of the uptrend and move higher to create new values similar to "High ema".
When Nifty is below VAL: Stay short & if far away from it and at a support zone, cover.
When Nifty is between VAL & VAH, Trade as in a sideways market.
When Nifty is above VAH, stay long and book out at earlier resistances or target areas.
There are VAH, POC, VAL for various time cycles. Have them in your trading plan to play it better.
Thanks & Regards
Sanjay Kr Jaiswal
Can any body provide link for Charts of Silver & Crude?
No problem Bhavan. Thanks for your kindness. Anyway got the details for Sanjay. Thanks a lot both of you.
Dear Musti,
For Silver;
http://www.futurespros.com/metals/silver-advanced-chart
For Crude;
http://www.futurespros.com/energies/crude-oil
Thanks & Regards
Sanjay Kr Jaiswal
Good Morning Sir and Warriors
Thx sanjay Sir.
I will check it.
Sir,
can Nifty be buy near 6135-45 zone with S/L 6120 as per ur premarket range given in tech table???
Sir, A double bottom has been created means we are
looking for a upward movement...pl correct me..thanks
Sir,
As double bottom in hour chart at 6135... so thought for buy...
or else wait for sell on rise??
Gm sir and friends
@Bhavan where can i get daily VAH VAL and POC levels for Nifty
Thanks in advance
GM Illango sir and all blog mates
Happy New Year to all
this is my first day of comment but following blog fr long time. getting lot of knowledge here.
thx.
Prachi
@ Sanjay Kr Jaiswal
Would be grateful if you can inform similar charts for MCX (INR)
Thanks a lot
Sanjay sir these are not for mcx.
I want for mcx
@musti . myself looking for 6182 (decider) and even 6234 today. but low conviction suggest not a big move gonna happen.
BN falling so steeply does not give any conviction for longs.
However, daily is yet to confirm a reversal. Until then bulls attempts will be on from lower levels. Remember also, overstretched short term correction will not end with just an hour.
Continue to sell on rises.
@cooldent
just logged in. as i told u earlier, i had partbooked
jnsar longs due to high expiry cost. market has not yet given
the opportunity to retake those longs again.if u have full
booked then either wait for prices to come back
t the level where u booked or take fresh signal.
i am also short in aggresive so it like longs on one leg and
shorts on other:-)
Hi dear sir Ilango,
plz give the bank nifty support area
regards,
Alpesh
Bank Nifty below DLEMA
Thanks P.S yeah i had fully booked. Went short yesterday. Part booked shorts.
a fast fall set up is getting formed if ns could not break and sustain abv 6150,i guess any upmove towards 6150 ns levels can be shorted with small sl
@ alpesh,
BN has moved below 5DHEma, 5DEma, 5DLEma in one swift move.
J10.SAR has triggered a sell. JNSAR is @ 11556.
I would look for resistances to sell it.
Bank Nifty 5 month ema is at 11608 should be a good support.
5 LEMA IS AT 11633 & 10 /13 EMA IS AT 11625/18. It is hovering around here.
11575/11610 is a double bottom area
NEW POST DONE.
Thanks for sharing the chart.
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