Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
69 comments:
@Ilango
i couldn't find Excel for today.
also i didnt find Jnsar values in old Excels.
u dont keep Jnsar values in Excel?
@ All, going by the comments regarding how Ilango sir's absence has affected trading, especially by old timers, I would say the most disappointed would be Ilango sir himself, for, after taking such painstaking efforts for 2+ years, updating charts, technicals, every trading hour, end of day comments, if he is away for 1 day, and you feel like you are lost in the dark, what have you learnt?
I developed a trading system for myself based on Ilango sir's education and I visit here just to get a feel, but otherwise, I did not miss Ilango sir yesterday, and yes I was in a trade yesterday and I had no doubts of what I should do with my trade when certain limits were touched. I am not saying I am making millions, but I think I can safely say "I am getting richer slowly and surely".
Thats my 2 cents. I hope you get the message.
I am not interested in debating this anymore, so, if you are offended, please accept my apologies, in advance.
Good Morning Master :)
Nifty Daily Entered Ichimoku Cloud :))
@Krishna
we all were not concerned about our trading moves, but wellness ofi lango sir only.
sorry, if u took, everybody's concern in a wrong sense.
our trades were not concern, but no intimation of his well being was.
OM SAI RAM
Good Morning Master & Friends...
Sir;
GM
5110 breached IH&S tgt acheived would this mean we may go upto 5525/555o roughly?
calculation based on 5110-4720=390 and
5110+390=5550
What would be the timeframe if this is true n which ewave count to follow
Bro Krishna
No body was worried till mkt closing
everything went fine, but when master did not appeared till evening
than only we started worrying.
And yesterday Night upto 12 O'clock IT and 15 others were on line on FB
Thank God all is well
Bank nifty futures intraday update: CLICK HERE
@manish
we can add yesterday data to xl it will solve.
sir might have been busy so he didnt upload.
jnsar is not there in xl, but is given by sir.
I agree with Rochak. we were concerned about his well being rather than our trades.
i think all the d blogmates have developed patience in such a way that master's premarket view and the range is enough for the trades to be initiated.
@rochak parekh,
as sir once enquired ur no, i thought he must have
called u and u must be having his no.
@Krishna - nobody is worrying about their trades here and moreoever nobody is "selfish" here. We worried about Sir's absence without even a "single post". Everybody has their
own style of trading"
just for information.
@ Bhavan,
If it is an Inverted H&S pattern, by staying above 5DEma(closing basis), it could target 5400 as per this pattern target calculations.
Immediate resistance is the recent cluster resistance point of 5195-5230 above which the gap zone of 5229 to 5323.
So the first step is to see whether 5177-96 resists.
@Krishna
Dudhpaak mee galti se namak gir gaya?
apologies to u also
Sujatha,
replied
@Krishna,
I do not know how long you have following this blog. I am in for past 3 years and whenever Ilango sir have some other work, Sir use to leave a message. There was no message yesterday, which made us to worry.
And no one here is worried about the our trades.
Thanks.
Namaste Ilango Sir & All.
Dear Krishna,
Why should we worry for our trades?
Sir has already taught us enough how to trade...
Nobody was worrying about trades..but this has become
first time when sir remained absent without intimation
and when even at the end we do not get any comment,
we worried for his wellness only....
Re Re posting :(
@Ilango
i couldn't find Excel for today.
also i didnt find Jnsar values in old Excels.
u dont keep Jnsar values in Excel?
Although you are a friend of mine
and letters we exchange,
I wouldn't know you on the street,
and doesn't that seem strange?
You hold a place within my life,
unusual and unique;
We share ideals and special dreams,
and still, we do not speak.
I picture what I think you are,
perhaps you picture me.
An intriguing game for both of us
for someone we can't see.
So for this friendship we possess,
we owe this mail a debt,
Perhaps the charm lies in the fact
that we have never met.
Unseen Friend
by Iceman
@ Krishna,
What prabakar said was correct. Whenever sir was out for a work , he will leave us a message.But yesterday there was no much messages..That made us to worry and nothing else..
@ Cooldent,
You mentioned in your comment yesterday that you find it difficult to "trade your positions".
Here is my suggestion:
This is possible only if you have some basic knowledge of intra day TA and the workings of Lead indicators.
If you notice that I have initiated the trades as per my Pre-market levels as well as some observations made during mkt hours. 1 or 2 days, no trade was effected as "desired levels" did not materialize.
Trading with the "part booked 1st lot is relatively easy". You see the no., you key in the order. It is believing in your work.
Often I have faced this dilemma that the desired sell or buy levels appear on screen, I have hesitated to sell looking at the bullishness or hesitated to buy seeing the bearishness. This is the most basic "holding back" among many traders and it still affects professionals too. Market has a way of changing our plans.
If you stay objective, it would become relatively easy.
Manish,
Sir does not calculate the JNsar in the excel sheet -Just Nifty TA file - he provides with the link. It is available only in his posts.
@Crorepathi
Nice lines
There is charm in it. But one day we will all part ways forever without ever seeing each other. So There is little sadness too.
@Ilango,
Sir,
In this post pivot table is yesterday's. In your first post today it was updated.
Nifty Seems Weak below 5130 Fut
Sis
Patience pays :D
http://madisonbeatnik.com/feature/images/20Patience-Pays.png
@ crorepathi,
Excellent poem. Words really fit for this Internet Friendship Days!!
sir,
can u explain how u calculate premarket levels.
what factors u consider. ??
Dear Ilango Ji,
"Often I have faced this dilemma that the desired sell or buy levels appear on screen, I have hesitated to sell looking at the bullishness or hesitated to buy seeing the bearishness. This is the most basic "holding back" among many traders and it still affects professionals too. Market has a way of changing our plans "
Can you shed some light on how to overcome this problem.
You said to stay objective but can elaborate more.
This is a typical problem that I or many traders that face till date.
Thank You very Much,
DR - In bear market (trading below 200DMA) always dead cat bounce is very powerful?? to trap bulls?? any idea. i am digging old data as i am not trading :( will send u mail my "useless" result :) hope definitely u will "forget" that one comfortably :D
Thank you sir
Yes the problem was "Often I have faced this dilemma that the desired sell or buy levels appear on screen, I have hesitated to sell looking at the bullishness or hesitated to buy seeing the bearishness"
Sis suj
Waiting for mail
if possible instead of mail
send courier and attach Mysore pak which u made yesterday :D
For JN,
Teachers day on Sept 5,
"Without teacher" day on sept.7
:))
Nice poem.
-stockgrp
Good Morning Master!
Thank God for ur safe arrival. Thank to you too bcoz after yesterday's incident we came to know first time that how much YOU are close to our hearts. First time i felt when one person is missing & whole world seems depopulated. We all were like fishes without water. Our family members were also feeling our pain. In midnight we awakened from sleep & console ourselves again & again, that everything will be alright. I hope you will accept request of DR & give ur contact number to any close person for emergency purpose only.
Rgrds
Kumar
Sir,
Can you please mention at what levels this upmove would be labelled as 4th itself w.r.t day TF- and not the iv of third? If possible chart please with the alternative markings!!
You have marked an ABCX chart in Tuesdays EOD analysis.
@ D Rishi ,, "Patience pays :D
http://madisonbeatnik.com/feature/images/20Patience-Pays.png"
WOW !! ---Patience is a Proprieter
---Pays in Cash only - No Udhar only Nagad
Mysore pak :D
@DR
Nifty Spot also weak below 5130 as per volume profile
True San,
Eventhough we are cyber friends, still we are humans with flesh and blood.
Though Swami Vivekanada has very special place in my life but I never seen him as we were seprated by time..but in Sir's case even though not seprated by time still not able to see, hear or even kow about his where abouts...
Dear Sir,
Warm welcome to you on your forum.
God is always with good people.
Pray for work to be turn out as per your wish.
pd.
@ Sujatha
Mysore pak???
Dr Sir's best plan to get your Address...
(on courier slip) :D :D
.
34-Day EMA is 5150. Yesterday stopped there and today also struggling there. After that, we go for the gap 5230-5320.
.
@ilango sir,
I am confused on the elliot wave notation on the chart - you have ii/b, iii/c. Can you explain ?
Thanks
gd
@ piyush,
Sir has answered this question long back:
Ilango said on 7th jan 2010
There are two ways of trading:
1. Once a signal is confirmed, initiate a trade. Followed by many which we call as conservative trade. Signals are generated away from tops & bottoms but nevertheless profitable to the disciplined. Works well in trending market. In fact, all positional trades work well in trending market.
2. Once the market reaches the extremes, using OB & OS readings combined with divergences & EW ending possibilities, a trade is initiated. These signals are generated closer to the tops & bottoms. It works well in all markets. We call it the aggressive trade. The biggest & most potential threat to this method comes in a strongly trending market where in the OS or OB can persist for a long time; Divergences can fail or even becomes traps; EW extensions happen and 5 waves become 9 and more too.
Combine these two with your experience.
March 11, 2011
Guidelines for Conservative trade: A complete EW structure with Day Lead indicator reversing from above 80 mark or from below 20 mark, Macd turning down/up, Closing below DHEma/ above DLEma followed by a close below/ above DEma & Divergences if any.
Guidelines for Aggressive trade: Same as above but in Hour Time frame.
Guidelines for Aggressive intra-trade: Knowing the direction; Current trend; Using Global cues; Using Pivot table & Tech.Table to choose the resistance & Support numbers; Using RT Chart; Willingness for small SL; No hesitancy to book profits at your target levels inspite of trend continuing to favour your trade.
Stockgrp - Now i got it "Y Delhi is shaking" by earthquake and bomb blast :D
how r u sirji?? silenttttttttttttlyyyyyyy mintingggggg any help?? call Hazare team :)
DR - my yesterday's no. in NF 5139 valid for this week. expecting weakness below this but watching .........nd ...... mainly.
.
@satheesh,
Awesome notes. Do you have more such tidbits you have recorded of ilango sir ? I would appreciate if you can share it here or email me at padysrini@hotmail.com
Thanks
gd
@ Bala,
If you are sure of the week TA, then you wait patiently for the desired levels in the day T/F to initiate a best trade. Similarly if you are sure of the Day TA, then you wait patiently for the desired levels in the Hour T/F to initiate a best trade. This is the main trick.
In the present context, Week is partially down as it has closed above WEma but below WHEma. So buying closer to WLEma 4920 was possible @ 4946 on 6th. And yesterday and probably today, you will get to sell closer to 5170(WHEma-this could change if more highs made above 5154)
Similarly check out for Day T/F v/s Hour T/F...you will find some wonderful trade set ups.
Yes Golfdude,
I have a seperate document file of 23 pages - collection of details which i found is very important for me. I have not organised it but just saving it as and when sir gives some important tips. I want to organise it based on,
1. Trade initiation,
2. Expiry days trading,
3. Short covering scenarios,
5. oscillator reading and etc., - still not done it.
If you don't mind an assorted titbits I can send it at once. If you want a neat and seggregated presentation - you might have to wait.
Satheesh - Gartleyyyyy, Gartleyyyyyy - sing like "taxiiiiiii taxiiii" :)
@ PS,
How do I get the Pre-Market levels:
Few nos. closer to the prev. close is picked up from the TT.
Pivot table pointers are picked up. (This proved very correct on 6th sept.. low being closer to S2-4938 and the high being 5070-R2)
ST technical considerations are taken into a/c for possible reversal.
Most importantly, recent price clusters give excellent support/ resistance for day trading/ initiating positional.Eg: 4946 low made on 9th Aug gave an excellent entry point on 06th Sept when Nifty was correcting an "abc" in its "b" wave.
most of the times sir's notes have helped me a lot than any other reference material - as his instructions are based on live trading rather than textbook examples!!
Now again one more added to my collection!!
@ golfdude,
ii/b means it is "ii"nd wave or an alternative "b" wave.
iii/ c means it is "iii"nd wave or an alternative "c" wave.
As the first fall from 6339 to 5177 was a 3 wave structure, this leaves for few possibilities besides a clean 12345 dn wave.(There could be abc or abc-x-abc or even abcde-overlapping)
.
Anybody know what is this 5125-35 range ? Either there is no volume or there is some big resistance there ?
gd
.
@ilango sir,
Thx for the explanation.
gd
.
@satheesh,
Can you send it out to me ? I dont mind it being assorted. email - padysrini@hotmail.com
Thanks
gd
satheesh
pls sent me also
my id ganesh yogi @yahoo.co.in
thanks in advance
New Post Done.
BB is getting squeezed in 30 min charts. major move id due soon.
Let celebrate today
I have arranged a working Lunch
For Non-veg
http://malenaadu.files.wordpress.com/2009/12/image0204.jpg
For Vegetarians
http://www.rosevegetarian.co.uk/Buffet-Lunch-Pic.jpg
and on Dr. Kumars choice
http://beercollege.net/wp-content/uploads/2010/11/6a00d8341c54d153ef0105349816f8970b-800wi.png
Ganya,
your maild id is not recognized. please give the correct ID.
Golfdude mail sent.
@Satheesh
I am facing same problem. Kindly mail me also,
ashokmehandiratta@gmail.com
@sateesh kindly mail me at vijendrasoni2007@bsnl.in @sateesh kindly mail me at vijendrasoni2007@bsnl.in
@sateesh pls mail me at voramit@yahoo.co.in
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