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 ...
21 comments:
reposting
@sujata mam- i am silent & consistant follwer of this blog
i know all jn nifty friends. thanks for reply
breakout trades as of 12 PM
http://img255.imageshack.us/img255/3996/breakoutm.jpg
Good Morning Ilango sir and friends.
Wish you all a Happy Profitable trade in New Year.
Hello Ilango sir
I have been following you for quite some time. I want to ask you one thing. As I remember you once said that when market opens right at resistance it is a "perfect sell" to be confirmed with ORB break. Since today market opened at pivot resistance 2, and confirmed with ORB break of future, wasn't it "perfect sell" though the techtable is in all green?
@ Sir - Already half boiled in "trading" this gartley don't ask me 1/4 boiled :) it's helping in long term views + in volatile session (during intra) v hv to act fast.
@ Rahul - sofar i hv done only for 'B' leg with FIBO retracement. the levels given below
B Leg= 0.382 - 5956.78 //0.500-\ 6029.57 0.618 is 6102.36(can take it as pvt) 0.786 - 6205.99 1.270- 6504.54 - 1.618 - 6719.21. you can note it down and can check for this month how it's panning out..any changes comes i will "recount" it again :) for "C" leg.
@ manu - really..not posting for joking. combining of fibo + EW :P (huh fainted about my EW??) get up
@ Anuj - Our Mok and RM is nowadays "karmayogi" :P expecting "smile" soon
@Sujatha, Anuj, Manu, PS, Good morning.
it seems NS struggling to move past 6166..
is it ok to short for intraday?
gm prabhakar
Kavi,
No method/ system/ strategy works 100% and at all times.
You act based on a particular method/ system/ strategy and keep the correct SL and part book based on volatility and stay in the trade till the EOD/ target/Stopped.
Thanks a lot sir. I appreciate the way you share your knowledge. I have learned a lot from you and still learning.
GM Everybody
@ sujatha jii...
happy new year :)
i read on the blog 26000+ :D what makes you say such tgts?
Arpit
GM Mynac.
GM
Dear Prabakar
Ilango sir, can we apply the logic that we hav taken more time in retracing
the fall from 6350 to 5690 , so game is tilting towards this being ABC and 3rd following it?
Thanks
@ mynac - goodafternoon.. bahut bhook laga..still u r in morning :P :) i agree with ur views but "itching" starts here becoz US MKT may top out this week, so i will not short this market unless "price shows" weakness + global cues.. till then we can grind here only :P what's ur OI view today?
hi arpit - thank u wish you all the same :) yeah if v take it from 7K lower levels 61.8% is still not breached 19257 70% is coming around 20919. pullbacks are common, now also weak below 20413 levels +ve above 20530 levels. long term views are ONLY FOR REFERRING while market falling "i will check this" and go for buy.. that's all..and this 26K target is mixing with EW i didn't post that..first let us cross DIWALI high..
Dear Sujatha,
Good Afternoon.
" so i will not short this market unless "price shows" weakness + global cues.." I too.At present it looks that 6170 is the key for NS.At least for the time being.
@ sujatha.. ok thnx for da reply
noted ur levels..a nd will try to trade accorrdingly =)
@Sujatha,
The Gartley trading levels that you have listed does that mean B leg can have targets of 5956-6029-6102-6205-6504-6719?
GA and happy new year to Sir&all
Good Afternoon Friends!
@Anuj
You will surely win the "Fastest finger first"!
NEW POST DONE.
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