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 ...
129 comments:
thank u sir
Good Morning Sir,
I am interested to know and learn about style of
your trading with jnsar , lead indicator , trend trade
and EW for where can I step into trade with good confidence
and where can I come out.(I know something that 5 / 3 waves in EW)
I download the excel charts which shows the numbers and
previous charts in excel sheets. I cannot able to understand
those so I want to know how to read them and go thru them.
How to be sucessful trader.
please give some guidence to me in this regard.
Sir,
The most basic guidelines below FIBO RETRACEMENT in the technical table is a big help for intra dayers ( though this sd be read along with other indicators )..Big Thanks..
SN
Coimbatore
Is 5820 target for the 4th?
Sir, I would like to know the correlation to the dollar index cause as the dollar is strengthning the nifty is falling but looks like dollar can improve much more
http://quotes.ino.com/chart/index.html?s=NYBOT_DX&t=&a=&w=&v=d12
Comments pl.
@ Shenita Rose,
Type the following in the "Serach this blog" box:
JNSAR method
Lead Indicator
Trend following
Elliott wave.
It'll take some time to read through them well.
In the meantime, trade with JNSAR after reading about it immediately - both Hour & Day.
sir,
the improvised "TT" is now like "read to eat MTR" food packing". just if it comes can start trade and close trade. Hope my daughter will like it, as -usually she likes "smas" + BB band levels. I will definitely show it to my daughter :)
@ Piyush - :) you know one good news in this year?? i "minimised" to some method, now sticking into only CAM+ FIBO + impt candles omitted many including Mr. GANN. feeling very comfortable (ofcourse will cross check with Sir's TT) 5822 is nothing but weekly CAM long level.
@ sansethi,
Dollar index is strong and will get stronger above 81.50-81.75. In such a scenario, more lows towards 5600 is possible.
What we are witnessing is the 1st fall (in 5 sub-waves) from 6181.It may end after another round of fall while exhibiting +ve div in Hour charts. This will be followed by a sideways correction retracing 23.6% to 38% of the fall or more and then another major fall.
This above view will get negated if index shows strenth by closing above 5-week Ema.
This could be the "c" of the "iv" targeting 5845+ if it "Holds 5780".
Thx
it wud be a relief suj. what i think these days
is a trader shud come without any pivots cam fibo
etc to trade. which tell u where market can take support/
resistance.
the market gives u the message just take it.
we say a number the market doesnt even stop there for
a min. instead lets see where market is stopping.
i dont know whether i'll achieve it or not but
this is what i think.
hiee sir....Get Welll Soon and Speedy Recovery..
@ Sujatha,
I read your earlier comment in which you have mentioned 5765 as 10 week sma. It is actually the 30 week sma.
It is in the earlier post.
@ PS,
I still feel you can come into the market with numbers that matches with closeby resistances and supports. Then, they become relevant.
Once a strong trend emerges, then keep off from supports & resistances as we have seen in the past few days as no support holds for a while in downtrend and no resistances stop the advances in an uptrend.
One day's failure should not deter a trader from making his daily plan.
I'll take some break after 1.00PM update.
Make the big money by staying with your positional trades.
And make small 25-50 points with your "Thrill seeking intraday trades".
Don't lose more than 10-15 points as a SL in day trades. Don't.
sir, 21 wk ema is 5865..and nifty did nit breached the level..does it indicate buy signal?
@ sreyO,
I would look at it as a resistance point as Nifty moved 125 points below it.
Sir, - thanks and extremely sorry, I didn't done my "CCP" work properly. Will be more careful hereafter.
@ PS -yeah big relief really :) always i am preparing for both the sides, + pros & cons of both the sides. it's good. still nifty trying to hold the no. 5822 that is not only cam long level what i mentioned it's a IMPT FIBO 23.6% monthly retracement level + somany there. preparation is good only. i really like your "advise"a number the market doesnt even stop there for
a min. instead lets see where market is stopping". yeah.. i have to be "more discipline" :P
Thank you sir.
Just for your information.
this hour is major time cluster zone, according to fibonacci, in hourly charts.
sir,
please do not think i am saying because we
few had stopped trades. u wud be among the best
nifty traders in the market.
but sir whatever no we come with if we have to
ultimately see what market is doing at that no.
suppose if we have to buy aggresively one method
can be that at percieved support we find prices
stablising and buy. 2nd method is that we buy at
cross of intra resistance like 5822 today. though i had
few numbers
yesterday eod but market had said 5822.
first method is better but emotions can easily creep
in that and we can make big mistakes. at this stage
i feel even i can buy/sell on confirmations in disciplined
manner i'll do more than my expectations,still i keep on breaking
my rules. i said to myself no trades opp conservative till
hourly macd/daily divergence but i am aggresively long
sir, maybe a triangle is forming in 4th
@PS
By reading your comment to sir, i got remind, i too used to do same thing..buy against the charts.book profits early..but it seems we must stick to one plan, while trading and avoiding loosing profitable trades.
i saw many who trades only with MACD and 21 HEMA..still doing great..its only we who sitting on terminal and looking at charts tick by tick, trying to get in early..and loose with so called numbers as supports.
Yes PS.,
"Discipline" - without this, one ends up admiring his/ her plan at the end of the day but no money will come into the pocket.
Illango Sir, r v making higher lows= 5759 - 5766 -
5777 - 5784 now 5792. Cud u please throw some light
on this??? Regards Deepak
hahaha piyush - add in your list i am also "indisciplined" still breaking my rules :D even my system says 5808 = is short level of cam + LBB level + MID BB not taken out, as per system - i have to be in short side "but in long" haha funny brain - long becoz weekly cam L4 protected + 24th may low of 4787 till diwali high 38.2% fall comes till 5748 , one thing maintaining is CAM + FIBO still i didn't change tht and no idea to switch over to anything at present :P let us see what market says?? i thought "i am the one in long" now OK :)
@ Deepak,
It is the very short term strength owing to oversold hour TA.
It makes your job easier to spot the weakness once those Higher lows are broken as the day trend remains down.
Bye for now.
sir, nifty is below 5800 and two attempt to cross 5806 failed..does it indicate falling down to 5765 level immediately??
Sir,
A small inverse H&S is forming in 5min NF chart, with the neckline breaklout at 8540!
Dear Ilango,
Thanks a lot for guidance/sharing your views in spite of illness.Bye. Please Take care.
@ sujatha ; plz enlighten me what is CAM level. right now i am feeding MTR packets to my daughter ...and she is liking it ...
Sir - ur participation shows your "KARMA YOGA"
all rest to GOD policy . Hats off.
RG - REPOSTING FOR YOU Jaiho ur DEMARk's nifty done 5740 (protected???)
@ RG - this is tooooooooo bad.. u never coming on holidays :( Ok. my pre k.g. starts with your demark's this week range- 6062.02 low 5743.47. Pls. check @ ur end and confirm. I worked out these 2 levels high and low..no head breaking with R1 r2 r3 etc.. pls. post ur views. ellarum segaputhan ennaku pudha kalaru padaranga what's ur "exceptional view" apart from technical
January 8, 2011 12:52 PM
@ satheesh - ennappa, ennum pongale sappadala kai evvla fast-a vale seyithu :) just for fun
spike in spot upto 5837.5 ..hell wht is going on..?
yes sir,
have rest.
suj ur method is very complicated. u break rules often
still somehow u
r able to make gains. thats why i gave up
learning ur method. but following only one method like cam
will gime many whipsaw and mildly positive returns
not commensurate to the effort of daytrading
Sujatha,
today morning itself I had "Sakari Pongal" along with breakfast!!! :)
aniljiiiiiiiii - why cursing??? :P i want 50-100 pnts. pls. then fall am i asking too much means let us come to compramise :D
@ piyush,
Too many cooks spoil the broth - so may be sujatha's one method sys with discipline might give more returns in the long run - especially for day trading!!
@Sujatha
plz i am not cursing you..by levels i mean..too much levels, not many of us can trade..plz dont take it otherwise you r comfortable, and your guidance with levels is superb without doubt.
i am holding some shorts, but started adding longs in small quantities from yesterday after 3 .p.m..still holding..
NF got resisted exactly at neckline and falling. A drop below 5805NF would be breakdown of a small triangle. Either way breakout would fetch 25-30 points
@ piyush - not much whipsaws if v hv more patience last week good gains weekly H4 6179 to L5 5996 + bonus points too :) that's y yesterday 5822 L3 breakes only i gave short & closed my short early :P as this week L4 5741 protected. as this is protected am in long if 5822 not taken out i will close my TRADE :) with mild "loss" or may be i will take decision at 2.30/40 pm.
Just 9.40 Lac.Addition since morning in NF O.I.
dear friends...although i'm not expert in trading and completely depends upon you people for my trade...yet i think until nifty crosses 5950 level, every upmove is a good selling opportunity...
Suja - I am ultra courteous to the powerful gender. I have responded on Sunday itself.(Infact only 2 posts were there for the week end story).
Why is Bhavan missing? Has this correction found its bottom already? Longing to be Long.
@ Anil - i didn't mean it wrong just for fun :) technically u r 100% right. Nifty is still weakkkkkkkkk no doubt at all. i don't want to forget the "bearish engulfing weekly" as said by sir it's just a "careful long" that's all.
@ satheesh - i too hv "akkara vadasal" today as "today is goodari vellum seer govinda" 27th pasuram of andal :) may god bless all
Dear mynac wht low addition of OI implies??
is that not much new longs added?Can we say shorts created are still not covered??
Thanks
Sujatha same here!!
OOT:
Rajagopalsir,
Vannakam, Has your health improved? Did you visit book exhibition?
5807 NF highest volume point of the day
Desperate sellers trying hard to press Nifty future below 5817 every time but if.... if it shall cross it & stay above it after 2.30 factor then I wont be surprise if NF shall show 5865.Let us see.Watching,5817-5794-5782 for any down move for both NS & NF.
Dear Anuj,
It looks that at least for a while the down fall is stopped today.So only the above said levels are important for me for only today's trading purpose.
OoT : Vanakkam Satheesh. Yes. Better than Normal.Nandri. Accompanied my daughter.Great collection.
satheesh,
try paper trading cam as it is with rules. for the time i did
i didnt find it very good.
suj u dont trade cam or gann or fibo is it is.
u have mixed modified after months of practice to
suit u.
this is what i have inferred frm ur posts.
as it is instead of is it is
My common sense tells me that even if FII wants to sell then also, they wont like to sell it below 5700 unnecessary.They have sold literally nothing with compare to their purchase above 5500-6300.
@Anuj,
I think you are busy. Yesterday no postings. May I know your positions in NF? I have short @5820NF
So they would do nothing but would only stop selling to come Nifty up for fresh selling,if they want so.
@Anuj(bizagra)
@Prabhakar
I m here only, a bit busy.Still into shorts.
@@Anuj,
Thank you. Today so many zigzags.
@mynac,
so you vote for a very short term rise? - sujatha would really cherish this !!!
u.k.Raj,
Are you still holding the short?
Dear satheesh,
After 4.30 Hrs.trading today the sellers are not succeed in pressing Nifty near yesterday's low,so either they would have stopped the selling quantum or getting slightly weaker this time.A 100 points intra move is not a surprise in now a days conditions,so just hopes are alive here.Nothing else.
@Crorepathi
Booked 50% @5789NF first closing above Hr Low EMA.
50% still holding.
2:30 -ve today?
@ hitendra,
Monday and tuesdays are supposed to be +ve but as it was -ve yesterday - might be the same today also!!
Alas...Tuesday Failed - kacha with you Infy-Result blues?
u.k.Raj
That's great!!,I know for you to sit tight you would have faced lot of emotional hurdles intially,can you guide on that aspect.
BN lost quite a bit - 80 points !
final leg down coming , bullz getting ready to jump in :-?
The SELLERS are back and HOW
@ Piyush - yeah not trading as it is. adding mixed masalas. I am out frm "longs" 5765 SL taken out :P not in shorts too :) no positions.
me too out suj
wassup PC ?
oh suj!
2day also sir gave possibility of breaking dnside.
2day also ignored?
the chart which @musti follows hv a look at that very good chart.
thanx @musti
jazz u r not counting it as 2c
Thank you Sir for Analysis
Booked 50% @5710NF
Ilango said...
This could be the "c" of the "iv" targeting 5845+ if it "Holds 5780".
January 11, 2011 12:32 PM
"iv" completed at "5842" and the "v"th is on.. the most swift one...
"Trader's dilemma to initiate shorts"'..not putting on the uniform again..
PS goin for calls na ???
Ilango sir, wht could b target for this v wave?Thanks
Sir,
Hour JNSAR at 5800 has given almost 100 points short!!!
jazz i am not able to see ur blog
it is saying doesnt exist.
yes maybe when market stablises planning to take longs
maybe tomm
im ps ,
but first 5 seems to be over now with divergence in vth as ilango sir saying...
expecting 2-3 days of wave II of 3
@Anuj,
Target for v wave means?
ps,
blog got deactivated by google.
have applied for reactivation , hope to get activated today...
@ bizagra,
Since "iii"rd is bigger than "i"st, "v"th could be anything. But by the look of its subwaves, it should end around 5650-5660 OR may test 200sma(5610).
As all eyes would be on 200sma or 40wk sma, it could end much above it too.
@Crorepathi
From Oct10 onwards I am strictly following Hr.SAR & JNSAR with 2 Lots.
I am not considering any other thing for these 2 lots, only Sir’s SAR no.
Still I am not comfortable, but practicing.
Crorepathi, just I am one year old baby in nifty trading. I am going to travel by holding Sir’s little finger.
clear + div both in rsi and macd in 30 mins
Thank you Sir for answer to Bizagra
Hi dear sir Ilango
what should be tgt of this 'v" wave?
regards,
alpesh
ok jazz.
dear sir
vix near 23.90
alert for long ?
regards,
Alpesh
@ Prachi - Even i know, but did mistake.. doing often counter trades..when "real trades"comes only i know the effect :P my paper trade is always successful 100% so trying in real ending in "tragedy" not bad my "cam future level breakout" done collected "few" balance carrying. onceagain thanks for your advise. I salute you people - crore, prabha, anuj, raj u etc., all for your "discipline"
@ Piyush - 5765 is weekly 10 sma. keep eye on that. 34 week ema 5715. if breakes there decesively will give 34 week ema easily + other smas too, but will it?? - January 11, 2011 12:01 PM
hahaha piyush - add in your list i am also "indisciplined" still breaking my rules :D even my system says 5808 = is short level of cam + LBB level + MID BB not taken out, as per system - i have to be in short side "but in long" haha funny brain - long becoz weekly cam L4 protected + 24th may low of 4787 till diwali high 38.2% fall comes till 5748 , one thing maintaining is CAM + FIBO still i didn't change tht and no idea to switch over to anything at present :P let us see what market says?? i thought "i am the one in long" now OK :)
January 11, 2011 1:18 PM
VIX at 24.11 .. may be time for some serious trouble
Thanks Buddy.
5724, weekly JNSAR also broken... can we go short again..
i think...nifty will now bounce back upto 5870...so ek buy banta hai...stop 5693...
Dear Sir;
I am in the short seeing your comment; taking first trade of the new year:) bought at 5725NF
dear sir
bank nifty not made new low
any view?
regards,
alpesh
@Sujatha,
Your "useless" work is 'useful'to me. Really it is useful work not useless
"PS : contact me for "useless" information apart from TA :)
January 11, 2011 12:01 PM"
@Sujatha,
Thank you very much
Ilango Sir,
======
I booked out remaining 50% shorts @ 5728 NF. Now I have no positions in NF. Can I resell 1 lot here? or wait for higher target?
=======
Aha! at last sharp recovery, so this way we may end another trip to south pole!
@ Prabha - :) :D haha now same trying to protect?? let us see.
@ RG - Mr. Demark's trying to protect?? with JNWEEK SAR???
What a down and what a rise!!!!
@ srey o nicee :)
Closing above yesterday's low is minor strength.
5 wave form is done.
Again , above 5780, strength.
Kaliyug Dharm? Tantrik operator? See Nifty Spot 5778
Thank you Sir. Simply sitting
Ilango sir sud we exit conservative shorts??
100 points raise in 30 minutes
Furious Bulls
What is this move called ? +60 to -60 to +50. Simply great !!!
I exit my short call loss 54 points
now fundamentals are good...
cheers
Conservative shorts remain.
Aggressively Long.
Danger as long as below day low ema.
Please adjusted closing is likely around 5745-5750
5900 CE almost came near to it's double.
Rajagopal sir!!
SEE-SAW MOVE!!!!!
"5843" is now DLEma which is nothing but today's high.
Look out for a Low ema trade tomorrow, if trades above it.
it will be 5754...
fast decline...........and fast recovery..........on the same day within one hour.........will have to bow my head to this market ..........nothing else........................
DIIs obliging dictum. Good for Longs ?
Bye Sir. Bye Friends. Sir - pls cool off. You are equally important to your extended family - more than one day's TA update. Wish Jay can chain you to the bed.
Good Turn over day Rs.1,77,218 Cr.
Bye Sir and all
Janaki,
How come you knew the closing price?
It is exactly the same no.
Regards
A layman interpretation...
Regarding last half an Hr.move=Bills might have taken precautionary action,to keep themselves alive.Now they have cushion up to 5700 tomorrow onwards.Let us see tomorrow.
Dear Ilango,
Have a rest,
Bye Everybody.
I am unable to see the views and analysis on
"theprofiletrader" blog. Please can any one help what is the reason. I am getting as "Blog not found"
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